Communications solutions provider PAETEC Holding Corp., and FTS (News - Alert) Ltd., a provider of billing, customer care and policy control solutions for communications and content service providers, has announced the completion of the sale of assets and certain liabilities of Formula Telecom Solutions, Inc., a wholly-owned subsidiary of FTS, to PAETEC (News - Alert) Software Corp. The sale was originally announced on Dec. 10. Formula Telecom Solutions is the creator of a billing system that offers CRM, revenue collection, interconnected prepaid and postpaid components.
The acquisition includes the Leap RevChain billing system, which PAETEC has been using to deliver its invoices to customers for over 12 years. PAETEC announced that the Leap RevChain product will be renamed “RevChain” and will become part of the newly formed RevChain Solutions division of PAETEC Software Corp.
"We are thrilled to have Shaul Ganel and his team launched RevChain Solutions today as a division of PAETEC Software,” said Robert Moore, PAETEC executive vice president and CIO. “RevChain is one of the strongest telecom and B2B billing solutions available today. We plan on not only accelerating its innovation and development as part of PAETEC Software, but will maintain RevChain’s well-deserved reputation for world-class customer service.”
“PAETEC will benefit from both a powerful billing platform and a great team,” said Amos Sivan, FTS’ CEO. “We are proud of the work we have done at FTS Inc., and we will now continue our focus on delivering innovative and flexible billing and policy control solutions.”
FTS will continue to offer solutions that will assist leading carriers to increase both revenues and customer satisfaction, as well as use their BSS as an enabler to drive the creation of new products and services.
Tracey Schelmetic is a contributing editor for TMCnet. To read more of Tracey's articles, please visit her columnist page.
Edited by Tammy Wolf