RCBG Client Ceon Acquired by Convergys
CHICAGO, IL – RCBG, a mid-market advisory services firm specialized in TMT transactions [telecom, media, technology], announced the completion of the acquisition of its client, Ceon Corporation, a leader in product lifecycle fulfillment software for communication service providers, by Convergys Corporation, (NYSE: CVG), a global leader in relationship management software. The acquisition will enable service providers to more effectively manage their products’ lifecycles across all network domains, fixed and mobile, and shorten time-to-market for new offers. This emerging field is of growing importance as the potential combinations of voice, data and video content and services continue to multiply.
“We are very pleased to have led and structured this transaction,” said Richard Summer, executive vice president and managing director of RCBG. “Ceon is a terrific company with sophisticated products and world-class management. Paired with Convergys’ extensive platforms and penetration, and exciting strategic direction, this is the package that service providers need to bring order and potential to their product catalogs.”
Ceon is based in Redwood City, CA with field offices in France and the United Kingdom. The company’s investors included Sutter Hill Ventures, Needham Capital Partners and Accel Partners.
“This is the era of the strategic buyer,” commented Summer. “With public financial markets and leverage in a volatile state, leading companies along the value chains of emerging technology and business models are in a good position to capitalize. Deep subject matter expertise is required, but for long-term acquirors and developers of relevant solutions, select private-public transactions such as this are the foreseeable trend.”
Terms of the transaction were not disclosed. Prior to the completion of the acquisition, RCBG managed a strategic partnership and convertible debt structure between the companies.
RCBG provides business strategy and advisory services for companies and investors.
The firm provides advisory services for identifying and executing strategic opportunities, often those created by emerging technologies in TMT [telecom, media, technology]. Our support allows leadership to operate from a highly-informed perspective, alert to what is possible, at risk, and ultimately worth time and capital. Clientele include the leading telecom infrastructure providers, service providers, digital media and content providers, and strategic investors including corporations, venture capital and private equity.
RCBG is headquartered in Chicago, IL. The firm is independent and not affiliated with other professional services or financial institutions.
For more information, please call +1 312 628 6400 or visit www.rcbg.com
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