MTS Announces $750,000 Private Equity Financing
28 Janvier 2008 - 6:57PM
PR Newswire (US)
RA'ANANA, Israel, January 28 /PRNewswire-FirstCall/ -- MTS - Mer
Telemanagement Solutions Ltd. (Nasdaq Capital Market: MTSL), a
global provider of business support systems (BSS) for comprehensive
telecommunication management and customer care & billing
(CC&B) solutions, today announced a private placement of
750,000 of its ordinary shares at a price of $1.00 per share,
pursuant to a definitive agreement dated as of January 24, 2008
with Mr. Lior Salansky. The closing will take place within two
business days following the Company's compliance with the
notification provisions of The NASDAQ Stock Market. Following the
closing, Mr. Salansky will join the Company as its President. Mr.
Salansky brings with him a wealth of knowledge and over 15 years of
experience in the CC&B market and the call accounting business.
Mr. Salansky was a founder of MIND C.T.I. Ltd. and served in a
number of positions, including Co-CEO, Vice President of Business
Development and R&D Manager. He also served as a director of
MIND CTI from its inception until 2004. Mr. Salansky holds a B.Sc.
in Computer Science from the Technion, Israel Institute of
Technology and an M.B.A. from Tel Aviv University. "We are pleased
to welcome Lior to the MTS team," said Eytan Bar, chief executive
officer. "We are confident that Lior's experience and managerial
skills will be a valuable asset to MTS's management team and will
assist the company to expand its business. In his new role as the
company's President, Lior will be responsible for business
development, marketing and managing our Israeli operations. Lior's
investment in our company reflects his confidence in our technology
and business model and strengthens the company's cash and working
capital position," added Mr. Bar. About MTS Mer Telemanagement
Solutions Ltd. (MTS) is a worldwide provider of innovative
solutions for comprehensive telecommunications expense management
(TEM) used by enterprises, and for business support systems (BSS)
used by information and telecommunication service providers. Since
1984, MTS Telecommunications' expense management solutions have
been used by thousands of enterprises and organizations to ensure
that their telecommunication services are acquired, provisioned,
and invoiced correctly. In addition, the MTS's Application Suite
has provided customers with a unified view of telecommunication
usage, proactive budget control, personal call management, employee
cost awareness and more. MTS's solutions for Information and
Telecommunication Service Providers are used worldwide by wireless
and wireline service providers for interconnect billing, partner
revenue management and for charging and invoicing their customers.
MTS has pre-configured solutions to support emerging carriers of
focused solutions (e.g. IPTV, VoIP, MVNO) to rapidly install a
full-featured and scaleable solution. MTS's unique technology
reduces integration risks and lessens revenue leakage by using the
very same system to manage retail and wholesale business as well as
supporting multiple business units. Total cost of ownership (TCO)
is reduced by providing web-based customer self-care and
provisioning. Headquartered in Israel, MTS markets its solutions
through wholly owned subsidiaries in the United States, Hong Kong,
The Netherlands, and Brazil, as well as through OEM partnerships
with Siemens, Phillips, NEC and other vendors. MTS shares are
traded on the NASDAQ Capital Market (symbol MTSL). For more
information please visit the MTS web site: http://www.mtsint.com/.
Certain matters discussed in this news release are forward-looking
statements that involve a number of risks and uncertainties
including, but not limited to, risks in product development plans
and schedules, rapid technological change, changes and delays in
product approval and introduction, customer acceptance of new
products, the impact of competitive products and pricing, market
acceptance, the lengthy sales cycle, proprietary rights of the
Company and its competitors, risk of operations in Israel,
government regulations, dependence on third parties to manufacture
products, general economic conditions and other risk factors
detailed in the Company's filings with the United States Securities
and Exchange Commission. Contact: Alon Mualem CFO Tel:
+972-9-762-1733 Email: DATASOURCE: MTS-MER Telemanagement Solutions
Ltd CONTACT: Contact: Alon Mualem, CFO, Tel: +972-9-762-1733,
Email:
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