SOURCE: EVOLVING SYSTEMS

Evolving Systems

May 04, 2017 16:05 ET

Evolving Systems Responds to Comments Made by SITO Mobile in its SEC Filings

ENGLEWOOD, CO--(Marketwired - May 4, 2017) - Evolving Systems, Inc. (NASDAQ: EVOL), a leader in consumer lifecycle engagement, analytics and monetization solutions for connected mobile devices worldwide, provided clarification in response to certain statements made by SITO Mobile, Ltd. ("SITO") in recent filings with the Securities and Exchange Commission ("SEC") (including its Schedule 14A Consent Revocation Statement, dated May 2, 2017 and its letter to shareholders published on May 3, 2017).

Specifically, SITO has asserted that the nomination by certain SITO stockholders of certain members of the Evolving Systems board to the board of directors of SITO is in furtherance of an undisclosed agenda to acquire SITO by Evolving Systems. The Company today states unequivocally that it has no current or reasonably foreseeable agenda or intent to acquire SITO. The Company further disclosed that while there was initially interest in potentially entering into select business arrangements with SITO, it has moved forward with other partners. As a result, Evolving Systems sees no synergies between the companies that would benefit Evolving Systems and its stakeholders, and has no intent to pursue any business dealings at this time.

To further clarify comments made by SITO in its SEC filings and public statements, Thomas Thekkethala, in his role as Chief Executive Officer of Evolving Systems, had a routine meeting with members of SITO's management on March 31, 2017. This meeting was for preliminary high-level discussions about potential marketing and sales synergies between Evolving Systems and SITO. Although Evolving Systems remains open to considering potential ways in which Evolving Systems and SITO might do business in the future, Evolving Systems has no plans, intentions or proposals to enter into business arrangements, nor does it have any intent or interest to acquire SITO Mobile.

Mr. Matthew Stecker, who currently serves as chairman for Evolving Systems, and Mr. Thekkethala, who also serves as a board member, have been nominated to stand for election to SITO's board of directors. Both Mr. Stecker and Mr. Thekkethala place great emphasis on strong corporate governance. If elected by SITO shareholders to serve as directors, they intend to uphold their fiduciary responsibilities, while working with management and the board in a cooperative manner to support the development and execution of SITO's business plan with the primary goal, to unlock and sustain shareholder value. They were selected to stand for election because of their respective backgrounds in enterprise software, telecommunications and mobile advertising, as well as their public company and board experience. Both Mr. Stecker and Mr. Thekkethala, along with all directors and executives of Evolving Systems, remain focused on executing their own business plan and driving long-term sustainable value for Evolving Systems customers, partners, employees and shareholders.

About Evolving Systems®
Evolving Systems, Inc. (NASDAQ: EVOL) is a provider of software and services for connected mobile devices to over 75 network operators in over 50 countries worldwide. The Company's portfolio includes market-leading solutions and services for consumer lifecycle engagement (acquisition, activation, upsell, retention) analytics and monetization. Founded in 1985, the Company has headquarters in Englewood, Colorado, with offices in the United States, United Kingdom, India, Malaysia and Romania. For more information please visit www.evolving.com or follow us on Twitter http://twitter.com/EvolvingSystems

Contact Information

  • CONTACT:

    Investor Relations
    Jay Pfeiffer
    Pfeiffer High Investor Relations, Inc.
    303.393.7044
    jay@pfeifferhigh.com