YOQNEAM, ISRAEL--(Marketwired - Dec 23, 2013) - MIND C.T.I. LTD. (NASDAQ: MNDO), a leading provider of convergent end-to-end billing and customer care product based solutions for service providers as well as call accounting solutions, today announced it has won two new significant deals, one at the beginning of the quarter and one that closed last week.
The first large win is with a wireless communications service provider in the US to support its prepaid and postpaid wireless business. MIND will deploy its convergent billing and customer care platform that includes modules such as Point of Sales (PoS), Self-care, Online Store, Interactive Voice Response (IVR) and support for Verizon Wireless LTE in Rural America (LRA Program).
This new customer chose MIND for its flexibility and support with frequent changes required by carrier marketing activities, for its wealth of functionalities for prepaid plans, collections business process and promotions capabilities and for MIND's proven true convergence (one integrated platform that includes all modules and supports all prepaid, postpaid, hybrid and wholesale business models). Implementation of this project already started and will be completed within three to four quarters.
This win reflects our strengthening presence in the US market, the increased reputation of our innovative solutions and reputation of on-time successful implementations.
The second win is with an existing customer in East Europe, a carrier with over 1.5 million subscribers that operates in all telecom fields -- landline, wireless, broadband and TV and uses MIND's solution for part of their business. During the next two years this customer will replace other platforms they use and upgrade the MIND solution to reach the true real-time convergent platform they desire in order to attract and retain their customer base. MIND was chosen after an extremely long and thorough search. This significant win is a multi-million dollar deal and we expect to recognize its revenue during a phased implementation within the next eight to ten quarters.
"We are pleased to announce these two new important wins. For the last few years we have focused on preparing the company for such potential wins. We have maintained a global presence and have increased our workforce to enable support of these larger prospects in our pipeline as they turn into new projects. These latest wins show how MIND's solutions are gaining market share", said Monica Iancu, President and CEO of MIND CTI. "We continue to experience increased interest in our solutions and we expect to meet our goal of internal growth."
MIND CTI Ltd. is a leading provider of convergent end-to-end billing and customer care product based solutions for service providers as well as telecom expense management (call accounting) solutions. MIND provides a complete range of billing applications for any business model (license, managed service or complete outsourced billing service) for Wireless, Wireline, VoIP and Quad-play carriers in more than 40 countries around the world. A global company, with over thirteen years of experience in providing solutions to carriers and enterprises, MIND operates from offices in the United States, UK, Romania and Israel.
Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward-looking statements." These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward-looking statements involve risks, uncertainties, and assumptions, including the risks discussed in the Company's filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information.