TORONTO, Aug. 22, 2016 /CNW/ -Redknee Solutions
Inc. ("Redknee" or the
"Company") (TSX: RKN), a leading provider of
real-time monetization and subscriber management software, today
announced it has formed a special committee of independent members
of the board of directors of the Company to consider various
strategic and financing alternatives potentially available to the
Company to enhance shareholder value, including a possible sale of
the Company. As part of this process, the Company has engaged TD
Securities Inc. as financial advisor.
While the Company has initiated this process, there is no
certainty that any transaction or alternative will be undertaken or
pursued. The Company has not set a definitive schedule to complete
its evaluation and no decision on any particular transaction or
alternative has been reached at this time. The Company does not
intend to disclose ongoing developments with respect to this
process, but in accordance with its continuous disclosure
obligations, will disclose material developments if, as and when
they occur.
About Redknee Solutions Inc.
Redknee monetizes today's digital world. We provide a complete
portfolio of mission-critical monetization and subscriber
management solutions and services that allow communications service
providers, utility companies, auto makers and enterprise businesses
of all types to charge for things in new and innovative ways.
Redknee's real-time billing, charging, policy and customer care
offerings provide the agility and scalability to drive a unique
user experience, increase profitability and support any new product
or business model. Available on premise, cloud-based, or as a
Software-as-a-Service, Redknee's low-risk, flexible solutions power
more than 250 businesses across the globe. Established in
1999, Redknee Solutions Inc. (TSX: RKN) is the parent of the
wholly-owned operating subsidiary Redknee Inc. and its various
subsidiaries. References to Redknee refer to the combined
operations of those entities. For more information about Redknee
and its solutions, please go to www.redknee.com.
Forward-Looking Statements
Certain statements in this document may constitute
"forward-looking" statements regarding Redknee and its business,
which may include, but are not limited to any strategic
alternatives potentially available to the Company. Forward-looking
statements are provided for the purpose of providing information
about management's current expectations and plans relating to the
future. Persons reading this news release are cautioned that such
information may not be appropriate for other purposes.
Forward-looking statements involve significant risks and
uncertainties, should not be read as guarantees of future events or
results, and will not necessarily be accurate indications of
whether or not such events or results will be achieved. Actual
events or results could differ materially from those contemplated
in forward-looking statements as a result of risks and
uncertainties relating to the ability to identify any strategic or
financing alternatives that could increase shareholder value,
including: the risk that the strategic review could result in
additional demands on Redknee's resources, disruption of its
ongoing business and diversion of management's attention from other
business concerns; Redknee's inability to complete a transaction;
disruptions resulting from any transaction, making it more
difficult to maintain business relationships; and other factors
discussed under the "Risk Factors" section of Redknee's most
recently filed AIF which is available on SEDAR
at www.sedar.com and on Redknee's web-site at
www.redknee.com. Other unknown or unpredictable factors or
underlying assumptions subsequently proving to be incorrect could
cause actual events or results to differ materially from those in
the forward-looking statements. Redknee does not undertake or
accept any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements to reflect
any change in its expectations or any change in events, conditions
or circumstances on which any such statement is based, except as
required by law.
SOURCE Redknee Solutions Inc.