TechWeb

WeDo Technologies Celebrates Continued Growth in Revenue and Business Assurance at its 5th User Group Meeting

May 31, 2010 (11:05 AM EDT)
URL: http://www.techweb.com/show-press-release/X807767/wedo-technologies-celebrates-continued-growth-in-revenue-and-business-assurance-at-its-5th-user-group-meeting.html

LISBON, Portugal, May 31, 2010 /PRNewswire/ -- WeDo Technologies, leading innovator in the Revenue and Business Assurance sector, announced its first quarter results at its fifth annual User Group conference held in Madeira last week.

Comparing 1st quarter 2010 with 1st quarter 2009, orders grew by 12% to EUR11 million; revenues were up by 4% to EUR10.9 million and EBITDA increased by 1% to EUR1 million.

Delivering the results to an audience of 140 attendees drawn from 40 of WeDo's more than 100 telecom service provider customers around the world, Rui Paiva, WeDo Technologies' CEO, also announced a number of significant milestones in the company's continued growth:

    - Customer base now includes seven out of ten of the world's
      top mobile service providers
    - More than 100 customers spread across 73 countries
    - Important new contract wins in the Latin American and Central
      and Eastern European markets
    - The opening of new offices in Panama, Chile, Singapore and
      Warsaw
    - The release of RAID 6.0, WeDo Technologies' eTOM-compliant
      Business Assurance platform
    - New business wins in the retail, utilities and finance
      sectors
    - A new revenue and risk sharing business model for the
      company's Praesidium consulting arm
    - Employee growth to nearly 400 people - drawn from 18
      different nationalities
    - An active acquisition policy to complement the company's
      successful organic growth so far

Centred around 15 case study presentations from customers, the User Group event also included presentations from industry analysts and consultants as well as a panel discussion on issues currently confronting revenue and business assurance and fraud specialists.

About WeDo Technologies:

WeDo Technologies is the leading supplier of Revenue Assurance solutions for the global telecoms industry. Business Assurance RAID, the company's Revenue Assurance and Fraud product, has been implemented across the five continents. With an international presence in Portugal, Australia, Brazil, Chile, Egypt, France, Ireland, Malaysia, Mexico, Panama, Poland, Singapore, Spain, UK and USA, WeDo Technologies is also a member of the GSM Association and the TM Forum. The company was founded in Portugal in 2001. For more information, visit http://www.wedotechnologies.com .

Porter Novelli Portugal - Maria Ines Oliveira, Email: ines.oliveira@porternovelli.pt, Tel: +351-21-313-61-00

SOURCE WeDo Technologies