PartnerOne Completes the Acquisition of Evolving Systems

Rhea-AI Summary

Evolving Systems (Nasdaq: EVOL) has finalized its acquisition by PartnerOne, focusing on its Customer Acquisition and Network Services division and CVML and Loyalty business. This move is expected to enhance Evolving Systems' market position and expand its capabilities in delivering real-time digital engagement solutions. PartnerOne's backing aims to strengthen Evolving Systems' innovative offerings, benefiting its extensive customer base across five continents. Evolving Systems has over 100 clients in 65 countries, reinforcing its role as a leader in customer engagement technologies.

Positive

• Acquisition by PartnerOne expected to enhance market positioning and capabilities.
• Access to PartnerOne's resources to improve product offerings and customer service.
• Evolving Systems has over 100 major customers across five continents, indicating strong market presence.

Negative

• None.

ENGLEWOOD, Colo., Jan. 05, 2022 (GLOBE NEWSWIRE) -- Evolving Systems Inc. (Nasdaq: EVOL), the leader in real-time digital engagement solutions and services, has announced that its previously reported pending acquisition by PartnerOne has been completed.

Under the terms of the agreement, PartnerOne has acquired all of the assets of Evolving Systems’ Customer Acquisition and Network Services division (‘Activation’) as well as its CVML and Loyalty business (‘Marketing’).

Evolving Systems is a real-time digital engagement accelerator with 100+ major customers across 5 continents. For over thirty years, Evolving Systems’ products and services have empowered Communications Service Providers (CSPs) to increase revenue per user, reduce friction, improve retention and maximize customer satisfaction.

Many of the world's largest telecommunications companies rely on Evolving Systems’ proprietary technology and industry expertise to deliver improved experiences to their own customers.

“CSPs operating in a highly competitive market are reliant on providing better customer engagement and an improved customer experience if they want to retain and expand market share," said Adhish Kulkarni, Evolving Systems’ Senior Vice-President. "Evolving Systems has been enabling them to do this for three decades. As a result, the technology we deliver and the results we provide to our customers and partners is unrivalled."

"We see Evolving Systems as the leader in the telecommunications market because of the critical role of its offering," said Jonathan Dionne, CFO of PartnerOne. "Evolving Systems has a very strong track record of winning large enterprise accounts, a blue-chip customer list and now with the strength of PartnerOne behind it, customers will greatly benefit. We are going to invest to make sure Evolving Systems remains the market leader."

PartnerOne has been in business for over 25 years and is a multi-billion dollar software conglomerate which owns several of the world’s fastest growing software companies. PartnerOne is a trusted supplier of major governments as well as 80% of the Fortune 1000. Evolving Systems now has the full backing of the PartnerOne organization which will allow it to further enhance its market-leading software, as well as improve its best-in-class customer service.

As part of the much larger PartnerOne organization, Evolving Systems will solidify its position as a global leader and all Evolving Systems customers will benefit from improved products and services that exceed the rigorous demands of its market.

About Evolving Systems^®

Evolving Systems, Inc. is a provider of real-time digital engagement solutions and services to more than 100 customers in over 65 countries worldwide. The Company’s portfolio includes market-leading solutions and services for real-time analytics, customer acquisition, customer value management and loyalty for telecom, retail and financial services companies. Founded in 1985, Evolving Systems has offices in Asia, Europe, Africa, South America and North America. For more information, please visit www.evolving.com

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About PartnerOne

PartnerOne is a software conglomerate which owns some of the fastest growing enterprise software companies in the world. In business for over 25 years, PartnerOne focuses on the acquisition of enterprise software solutions that cater to the needs of major corporations and governments. Over 1000 of the world's largest organizations rely on PartnerOne software for their most critical operations and to safeguard their most valuable data.

Media & Analyst Relations: Sancha Brody
Sancha.brody@evolving.com / +44 (0) 7376 366855

FAQ

What was the value of the acquisition of Evolving Systems by PartnerOne?

The value of the acquisition has not been disclosed in the press release.

What divisions were acquired by PartnerOne?

PartnerOne acquired Evolving Systems' Customer Acquisition and Network Services division and its CVML and Loyalty business.

How will the acquisition impact Evolving Systems' customers?

The acquisition is expected to improve product offerings and customer service for Evolving Systems' clients.

When was the acquisition of Evolving Systems completed?

The acquisition was completed on January 5, 2022.

Who are the major clients of Evolving Systems?

Evolving Systems has over 100 major customers, including some of the largest telecommunications companies worldwide.