TEOCO, a Fairfax, Va.-based provider of routing and revenue management software for communication service providers, has completed its acquisition of TTI Team Telecom International, a supplier of operations support systems (OSS) to communications service providers. The deal was valued at $58 million. TEOCO raised $60 million in equity funding from TA Associates, in exchange for a minority ownership position, two years ago.
TEOCO Corporation, a market leader in providing cost, routing and revenue management solutions to leading communications service providers worldwide, today announced the successful acquisition of TTI Telecom, (NASDAQ:ITIL), an Israel based global supplier of Service Assurance solutions to communications service providers. TEOCO announced its intent to acquire TTI Telecom on June 9, 2010. This strategic acquisition nearly doubles TEOCO’s market size, expands its reach geographically, and significantly enhances its strength in real-time network assurance.
Ari Banerjee, Senior Analyst and Telecom Software Market Specialist with Heavy Reading, commented:
“Service assurance is a key component of OSS solutions, and TTI has invested a lot in next-generation mobile assurance. With operators focusing on rolling out 4G networks, this acquisition is very complementary to TEOCO’s cost management portfolio, bringing its solution set further into the real-time data network environment, and enhancing its current product capabilities.”
Through this acquisition, TEOCO gains valuable expertise in LTE and 4-G networks, enabling its clients to address the challenges and reap the benefits of today’s data-centric networks. Service Assurance is especially important in a data environment, where jitter and packet loss can adversely affect call quality and the delivery of high-value content. This acquisition will drive further innovation as TEOCO invests in product development that expands on TTI’s 4-G capabilities. TTI’s employees, assets and solutions will be integrated with TEOCO, providing greater value for its clients, and further defining TEOCO as the undisputed provider-of-choice in Cost Management, Routing Management, Revenue Assurance and now Service Assurance for the world’s leading service providers. “The pairing of TEOCO and TTI represents a new era of network management, one that spans the needs of any service provider,” said Atul Jain, Chairman and Chief Executive Officer, TEOCO Corporation. “From legacy to next-gen networks, operators need ways to reduce costs, optimize revenue, and gain greater control over the quality of services they are delivering. I am very excited about the synergies these two organizations bring together, and believe that our two parts create a greater whole.”
More information about the acquisition can be found at www.teoco.com/newsroom.
TEOCO is the market leader in providing Cost Management, Routing Management, Revenue Assurance and Service Assurance for the world’s leading service providers. Over 50 of the industry’s leading providers trust TEOCO to deliver unparalleled visibility and control over their operations. Fueled by industry leading expertise and innovative technologies, TEOCO saved its customers several hundred million dollars last year alone.
Founded in 1995, TEOCO (The Employee Owned Company) has been ranked one of the fastest growing companies by Inc. Magazine on three occasions. TEOCO is widely recognized for its commitment to principled entrepreneurship, business ethics and employee ownership with a particular emphasis on its core values of alignment with employees, clients and community. TEOCO recently received investment from TA Associates, a $16B global growth private equity firm based in Boston, MA. For more information, please visit www.teoco.com.