LogicaCMGs Telecom Products business has been sold to a consortium of private equity buyers for 265 million. The consortium is led by Atlantic Bridge Ventures. The investment will enable the new company, to be known as Acision, to enhance its product offering, building on the firms heritage of pioneering innovation.
Acision will continue to provide intuitive messaging, intelligent charging, content enablement and customer intelligence management solutions to the global telecoms and media industries. The company employs approximately 1,700 people across 22 countries and serves over 1 billion end users, through its relationships with over 300 network operators and service providers. It says it will have revenues of $500 million 256 million) from day one.
Over the last five years, LogicaCMG Telecoms Products has established a reputation for innovation, achieving a number of world firsts within the mobile industry. Recently, the convergence of fixed and mobile telecoms with the media industry has created new opportunities for the business to offer its expertise and products to a wider range of service providers. The divestment is expected to open opportunities for the new entity, Acision, to expand its customer base through channel relationships with other systems integration and services companies, while continuing to work with LogicaCMGs remaining integration business.
“Recently the objectives of LogicaCMGs consulting and integration business and those of Telecoms Products have become less aligned says LogicaCMG Telecoms Chief Executive, Chris McDermott. This separation is a logical step for our business, enabling us to grow our channels and enhance our position as a trusted partner for network operators and service providers, while having the agility to continue to innovate and remain a global market leader.”
LogicaCMG Telecoms Products pioneered SMS, and continues to lead the market today, processing over half of the worlds text and multimedia messages every day. In addition to maintaining its strong roots in messaging, the company also serves three out of every four videomail users, while its content and messaging payment systems have processed over $100 billion of revenues. 
