Acquisition

RNS Number:4496O
Redknee Solutions Inc.
21 February 2008


For Immediate Release                                          21 February 2008



                             Redknee Solutions Inc.

                   ("Redknee", "the Company" or "the Group")



           Redknee Announces the Acquisition of Argent Networks PTY.



Redknee (AIM: RKN), a leading provider of innovative infrastructure software
that monetizes and personalizes services and content for mobile operators,
announces that it has completed the acquisition  of 100% of the shares of Argent
Networks PTY  ("Argent") from Argent Networks Limited for a cash consideration
of approximately US$525,000 (NZ$675,000) plus the assumption of approximately US
$270,000 in bank debt.



Argent, based in Sydney, Australia, has operations in Australia, and the United
States and owns the ArgentEclipse Interconnect service, which is branded as
In-Bill. In-Bill is a revenue assurance, interconnect and content settlement
software solution that currently services over 10 operators.  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.



Today's announcement supplants the two previous announcements issued on 21
December 2007 and 21 January 2008 and will see Redknee purchase only the In-Bill
operations of Argent. Subsequent to the shareholders of Argent Networks Limited
turning down Redknee's prior offer on 18 January 2008, Argent Networks Limited
was placed into receivership and Redknee was able to purchase the shares of
Argent, which remained operating as a going concern. Prior to Redknee acquiring
Argent, it operated with a small profit. Redknee plans on investing in the
Interconnect product in order to strengthen its product offering and benefit
from cross selling opportunities.



Based on the foregoing, Redknee re-iterates its 4 December 2007 guidance that
fiscal 2008 revenues will be between CDN $45 million and $48 million.



Lucas Skoczkowski, CEO at Redknee, commented:



"Following a very disciplined process, we are delighted to have secured first
class employees, excellent customers and superb software assets for Redknee. We
feel that the Interconnect product is an excellent software asset that will
complement our turnkey converged billing offering, enhancing our market
leadership position.





The addition of Argent will have an immediate impact on our service offering and
we expect it to contribute to our revenue growth in fiscal 2009. I look forward
to updating the market on the integration progress over the coming 12 months."





For further details please contact:


North American Media Relations Contacts:               Financial Public Relations:

Heidi Rosenberg                                        Jeremy Garcia

NPI PR                                                 Buchanan Communications

[phone]                                        [phone]

[e-mail]                                        [e-mail]



Dalia Asterbadi

Redknee Solutions

[phone]

[e-mail]


Nomad:                                                 Redknee Solutions

Canaccord Adams Limited                                Colley Clarke, Chief Financial Officer

Ryan Gaffney/Andrew Chubb                              [phone]

[phone]                                       [e-mail]

[phone]

[e-mail]





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.




                      This information is provided by RNS
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