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SupportSoft puts up $17 M for Core Networks

Tue, 07/20/2004 - 8:00pm
Jeff Baumgartner

In a move that keeps consolidation very much alive in the OSS sector, SupportSoft Inc. has inked a deal to acquire the assets of Core Networks for $17 million. SupportSoft expects to close the deal by this September.

Canada-based software firm Core Networks makes a line of network monitoring, policy management, firmware upgrade management and remote management products for DSL and cable service providers.

SupportSoft said it will integrate Core's networking products with its own service management platform. The resulting product will push SupportSoft's agenda to support service automation for voice, video and data services.

The fusion of software "uniquely positions our combined offering as the first true, end-to-end solution for IP-based digital services," claimed SupportSoft Chairman & CEO Radha Basu, in a release.

The OSS sector, once rife with start-ups that specialized in particular areas, is very much in contraction mode. C-COR Inc. has been leading that trend in 2004, having already acquired two OSS specialists: Alopa Networks and Stargus Inc.

On the financial front, SupportSoft posted Q2 revenue of $16.9 million, up 34 percent from $12.6 million a year ago, and a profit of $4.9 million (11 cents per share), compared to $2 million (6 cents per diluted share) in the year-ago period.

Looking ahead, SupportSoft expects to post Q3 revenues of between $16.7 and $17.5 million and earnings per share of 8 cents to 9 cents.

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