Acquisition

RNS Number:4668K
Redknee Solutions Inc.
21 December 2007


  Immediate Release                                          21 December 2007



                             Redknee Solutions Inc


                Redknee Announces Acquisition of Argent Networks


      Acquisition to Expand Converged Rating and Billing Product Portfolio

           and Global Reach in Asia Pacific, Africa and North America


TORONTO - Dec. 21, 2007 - Redknee Solutions Inc. ("Redknee" or the "Company")
(AIM: RKN), a leading provider of innovative infrastructure software that
monetizes and personalizes services and content for mobile operators, today
announced the conditional acquisition of the assets of Argent Networks Ltd.
("Argent"), a leading technology and telecommunications billing company, for an
initial payment of US $4 million in cash raising to a maximum cash payment of US
$8 million if certain revenue related metrics are achieved. Based on the
foregoing, Redknee is increasing its guidance for fiscal 2008 to CAD $48-52
million.


Argent, based in Auckland, New Zealand, has operations in Australia, Middle East
and the United States and currently services over 20 operators in North America
and across the emerging markets of Asia Pacific and Africa. Following the
acquisition, Argent's customers and employees will be integrated into Redknee's
existing business with a view to leveraging Argent's customer base, partner
network and employees. The Directors believe that the acquisition will further
strengthen Redknee's operating model and market share, particularly among
emerging market operators.


"I am delighted to be announcing our first acquisition," said Lucas Skoczkowski,
CEO of Redknee. "This is a very exciting transaction for Redknee as the
acquisition expands our operator footprint with 18 new operators in the emerging
markets and five in North America, while increasing our product portfolio to
include interconnect billing, and converged billing for IPTV and broadband
operators. This transaction complements our core business objectives and is an
excellent fit with our existing operations. I look forward to updating the
market on the integration progress over the coming 12 months."


Argent has developed ArgentEclipseTM Interconnect, a revenue assurance,
Interconnect and content settlement software solution and ArgentEclipseTM, a
real-time convergent billing and customer care CRM solution for fixed line,
wireless, broadband and next generation operators. The Directors believe that
Argent also has a strong reputation for its technologically advanced products in
the voice interconnect, content management and wholesale verification
categories, as well as next generation converged billing solutions.


The acquisition will be made through wholly-owned subsidiaries of Redknee and
the transaction is conditional upon approval by the Argent Networks Ltd.
shareholders, which is expected to occur on January 18, 2008.  The transaction
is expected to close on January 31, 2008.


For more information about Redknee please visit http://www.redknee.com.



About Redknee

Redknee is a leading global provider of innovative communication software
products, solutions and services. Redknee's award-winning solutions enable
operators to monetize the lifetime value of each subscriber transaction while
personalizing the subscriber experience to meet mainstream, niche and individual
market segment requirements. Redknee's revenue generating solutions provide
advanced converged billing, rating, charging and policy for voice, messaging and
new generation data services to over 50 network operators in over 40 countries.
Established in 1999, Redknee Solutions Inc. (RKN : AIM) 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, please visit www.redknee.com.



2007 Redknee All rights reserved.


Media Relations Contact:

Heidi Rosenberg
NPI PR
[phone]
[e-mail]

Dalia Asterbadi
[phone]
[e-mail]

Nomad:
Canaccord Adams Limited
Ryan Gaffney/Andrew Chubb
[phone]
Investor Relations Contact:

Jeremy Garcia
Buchanan Communications
[phone]
[e-mail]

Colley Clarke
[phone]
[e-mail]







                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
ACQPUGAWPUPMUAG