TEL AVIV, Israel โ February 20, 2023 โ RADCOM Ltd. (Nasdaq: RDCM), today announced it has entered into a definitive agreement to acquire the technology, intellectual property, and customer agreements of Continual Ltd. (TASE: CNTL). Continual is a leading mobility experience analytics company that uses Artificial Intelligence (AI) and Machine Learning (ML) to deliver advanced insights to help telecom operators improve their subscribersโ mobility experience.
โWe are excited to welcome onboard the Continual employees and their advanced technology,โ said Eyal Harari, RADCOMโs Chief Executive Officer. โThis will enrich our RADCOM ACE analytics in location and mobility, helping operators optimize the subscribersโ journey while traveling. Further enhancing our 5G analytics to ensure users enjoy the best customer experiences wherever they are.โ
Mr. Harari continued, โTo complement our innovative platform, we always look for opportunities to accelerate growth, increase our unique offering and attain access to additional accounts. This transaction represents another step in supporting our growth strategy.โ
โThe Continual team is thrilled to be joining RADCOM as a leading assurance company in the 5G era and the cloud,โ said Omer Geva, Continualโs Co-Founder and Chairman. โWith 5G beginning to roll out and subscriber expectations of always-on connectivity, adding our mobility analytics to RADCOMโs already rich assurance portfolio will strengthen its capabilities as it develops best-in-class solutions for leading telecom operators worldwide.โ
RADCOM will pay up to $2.5 million in cash for this transaction which is expected to close within three months, pending the satisfaction of customary and transaction-specific closing conditions and regulatory approvals. We expect revenue from Continual in 2023 to be less than 5% of our total annual revenue.