Acquisition will allow expansion into Europe


Monica Eisinger,
Yokneam, Israel and Reading, UK — (METERING.COM) — November 8, 2007 – MIND CTI Ltd., a provider of convergent end-to-end billing and customer care product based solutions for tier 2 and tier 3 carriers worldwide, has signed a definitive agreement to acquire Omni Consulting Company Limited (Abacus Billing), a UK provider of managed services for customer care and billing solutions to telecommunications carriers and large resellers.

Omni (Abacus Billing) provides billing and customer care software solutions in a service bureau mode, mainly to European carriers that require complex solutions, with a strong convergent offering and using web-enabled daily reporting and billing. Omni has a strong methodology for its outsourced offering, supported by regulatory accreditations from UK’s Ofcom and Reg-TP of Germany.

"Carriers around the world are lately looking more into the managed services option and we are now better positioned to capitalize on this trend,” said Monica Eisinger, chief executive officer of MIND. "Abacus Billing’s solid reputation and proven expertise in the European market, its strong existing customer relationships, and a great team of people, complement MIND’s strong management, deep industry knowledge, financial backing and global resources. We believe that this acquisition puts MIND in a good position for increased success in the European market."

The new division will continue to be led by Karl Wills, CEO of Abacus Billing, and the current management team. "The team at Abacus Billing is enthusiastic about becoming part of a larger, public company with both global reach and financial strength,” said Wills. “This transaction allows Abacus Billing to better support its customers by combining and enlarging the software development and deployment teams. Furthermore, it will capitalize on the position that Abacus has attained in smart meter information and billing.

"Our existing and potential customers will benefit from the greater comprehensive product range and extended capabilities, leaving us well placed to take on even more complex projects for carriers and resellers offering prepaid and postpaid multiple services convergence."