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Meridian advised the shareholders of CoralTree Holdings Ltd on the sale of their company to Japanese owned, US company Netcracker Technology Corporation.
Hampshire based CoralTree provides end to end Business Support System (BSS) solutions for Communications Service Providers (CSPs) – this includes an investment of over 13 man years development, creating 4.4m lines of code and 10,000 objects. With a best-in-class software development and professional services team, CoralTree was an attractive acquisition target.
Kevin Turner, shareholder of CoralTree comments "This process has been an incredible journey and on behalf of myself and fellow shareholders, we wish to thank Meridian for all their hard work, commitment and support. Meridian navigated us through this uncharted territory with professionalism combined with patience and humour. We really couldn't be more pleased and we look forward to contributing to Netcracker's continued success and delivering high calibre and innovative solutions to service providers around the world.“
Massachusetts based Netcracker, a wholly owned subsidiary of NEC Corporation, offer worldwide Consulting, Professional and Managed Services and an end-to end software portfolio for telecommunications and cable customers. Darren Thompson, Director of Meridian who led the deal, comments, “We quite frequently work with companies outside the UK and have a good number of international deals under our belts. This particular deal however, involved both the US and Japan. Working through contrasting legal jurisdictions was no mean feat across three different time zones! Our experience in dealing with Japanese and US buyers is unrivalled in our Region”.
CoralTree will continue with their vision of becoming the number one provider of CRM and billing software to the media and communications industry, and Netcracker will use the acquisition to expand and strengthen their video solutions, professional services and geographic footprint.
