Asia PR News

TORONTO, Dec. 21 /PRNewswire-AsiaNet/ –

Acquisition to Expand Converged Rating and Billing Product Portfolio
and Global Reach in Asia Pacific, Africa and North America

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 ArgentEclipse(TM) Interconnect, a revenue assurance,
Interconnect and content settlement software solution and ArgentEclipse(TM), 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.

Media Relations Contact:
Heidi Rosenberg
NPI PR
+1 831-440-2405
heidi@npipr.com

Dalia Asterbadi
+1 905 625 2636
dalia.asterbadi@redknee.com

Nomad:
Canaccord Adams Limited
Ryan Gaffney/Andrew Chubb
+44 207 050 6500

Investor Relations Contact:
Jeremy Garcia
Buchanan Communications
+44 (0) 20 7 466 5000
jeremyg@buchanan.uk.com

Colley Clarke
+1 905 625 2604
colley.clarke@redknee.com

SOURCE Redknee Solutions Inc.

CONTACT: Media Relations,
Heidi Rosenberg of NPI PR,
+1-831-440-2405,
heidi@npipr.com; or

Dalia Asterbadi,
+1-905-625-2636,
dalia.asterbadi@redknee.com; or

Nomad:
Ryan Gaffney or Andrew Chubb,
both of Canaccord Adams Limited,
+44 207 050 6500; or

Investor Relations,
Jeremy Garcia of Buchanan Communications,
+44 (0) 20 7 466 5000,
jeremyg@buchanan.uk.com; or

Colley Clarke,
+1-905-625-2604,
colley.clarke@redknee.com,
all for Redknee

Web site: http://www.redknee.com