Mr. Steve Sadler reports

ENGHOUSE SYSTEMS ACQUIRES CDRATOR A/S

Enghouse Systems Ltd. has acquired CDRator A/S for a purchase price of approximately $23.0-million (net of acquired cash), subject to certain price adjustments. CDRator's annual revenue for fiscal 2014 was just over $20.0-million.

Headquartered in Denmark, CDRator provides market-leading solutions that automate billing and customer care functions for mobile virtual network operators and enablers. CDRator offers an out-of-the-box self-care, postpaid and prepaid real-time billing platform that can be rapidly deployed for enabling next-generation mobile and converged virtual network operators. CDRator has approximately 130 staff primarily based in Denmark supporting its customer base in Europe, North America and Africa.

"MVNOs represent a global growth market segment for Enghouse," said Steve Sadler, chairman and chief executive officer of Enghouse. "CDRator complements our portfolio of solutions, brings new customers and expertise within the Enghouse Networks Group and expands on our recent acquisitions that address the mobile operator space. We are pleased to welcome CDRator's customers and employees to our organization."

"We are delighted to join Enghouse and contribute to the ongoing growth trajectory of the Networks Group," said Laurits Tygesen, chief executive officer of CDRator. "From the onset of our discussions, we quickly recognized that Enghouse would be a great fit for our employees and customers, and would enable our growth within a larger global footprint."