SOURCE: EVOLVING SYSTEMS

Evolving Systems

February 11, 2011 16:03 ET

Evolving Systems, Inc. Terminating Stockholder Rights Plan

ENGLEWOOD, CO--(Marketwire - February 11, 2011) - Evolving Systems, Inc. (NASDAQ: EVOL), a leading provider of software solutions and services to the wireless, wireline and cable markets, announced today that on February 11, 2011, it amended its stockholder Rights Plan (the "Plan") to effect the Plan's termination.

Under the Plan, one right was distributed for each share of Evolving Systems' common stock outstanding at the close of business on March 16, 2009, and any person or group acquiring more than 29 percent of the voting power of the Company's outstanding common stock without the approval of the Board of Directors, subject to certain exceptions, would have triggered significant dilution in the voting power of such person or group.

The amendment changes the date for expiration of the rights issued pursuant to the Rights Agreement from March 4, 2019 to March 1, 2011. Accordingly, effective March 1, 2011, the Plan will be terminated.

About Evolving Systems®

Evolving Systems, Inc. (NASDAQ: EVOL) is a provider of software and services to more than 70 network operators in over 40 countries worldwide. Its portfolio includes market-leading products for Service Activation, Service Verification, Process Management, Dynamic SIM Allocation, Number Portability, Number Inventory and Mediation solutions. Founded in 1985, the Company has headquarters in Englewood, Colorado, with offices in the United Kingdom, India and Malaysia. Further information is available at www.evolving.com.

Contact Information

  • CONTACTS:

    Investor Relations
    Jay Pfeiffer
    Pfeiffer High Investor Relations, Inc.
    303.393.7044
    Email Contact

    Press Relations
    Sarah Hurp
    Marketing Communications Manager
    Evolving Systems
    +44 1225 478060
    Email Contact