Acquisition Expands and Strengthens Video Solutions, Professional Services and Geographical Footprint for Netcracker
WALTHAM, MA — July 12, 2016 —
Netcracker Technology, a wholly owned subsidiary of NEC Corporation, announced today that it has completed the acquisition of CoralTree Systems, a leading provider of converged solutions for European service providers.
The acquisition includes CoralTree's technology solutions and highly skilled resources in systems integration, business operations support and other professional services. CoralTree's solutions also include technology assets in video activation, BSS and OSS which complement Netcracker's solution portfolio.
Netcracker has seen significant business growth and market momentum during the past 18 months due to its involvement in large-scale transformation projects that enable operators around the world to become digital service providers. The acquisition of CoralTree Systems will enable Netcracker to support this growth and further accelerate the delivery of similar strategic projects worldwide.
The acquisition of CoralTree Systems brings two key complementary assets to Netcracker:
- A skilled workforce experienced in delivering and operating large projects across video as well as BSS and OSS domains, helping European cable operators, service providers and enterprises become digital service providers.
- A portfolio of video activation solutions and tools for delivering and improving digital services and customer experience across video, BSS and OSS domains.
"Our first priority as a business is to meet and exceed our customers' expectations, and our remarkable growth this year is a testament to that," said Andrew Feinberg, President and CEO of Netcracker Technology. "The acquisition of CoralTree Systems will further strengthen our product portfolio and accelerate the great work we are doing on behalf of our service provider customers. CoralTree's outstanding workforce and technology toolsets perfectly complement Netcracker's own assets and the combination of these two companies will deepen our relationships with customers around the world."
"I'm really excited for CoralTree to become part of Netcracker, one of the fastest growing and most successful companies in our market," said Kevin Turner, CEO at CoralTree Systems. "Both companies are self-starters, independent and driven to help service providers transform their networks and improve their services. With that common DNA, we have a very good alignment with Netcracker's customers, technology and people. We look forward to contributing to Netcracker's continued success and delivering high caliber and innovative solutions to service providers around the world."
"As service providers transform into digital service providers (DSPs), they will need more than just technology change to achieve success. They will need comprehensive professional services and integration capabilities, as becoming a DSP requires new business processes and a fundamental reworking of customer engagement and delivery models," said Clare McCarthy, Practice Leader Service Provider Technology at Ovum. "Netcracker has recognized the need to deliver a full suite of capabilities (products, solutions, services and best practices) to help its customers transform, and the acquisition of CoralTree will complement its ability to help service providers become DSPs."
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