WESTFORD, Mass., June 18, 2002 — Coherent Networks, Inc., on Tuesday announced that it has completed the sale of its FastGateâ„-/Utilities business to Osmose, Inc. Coherent Networks also announced that in connection with the sale it has changed its name to Steleus Inc.
On June 7, 2002, the company completed the sale of the FastGate/Utilities business to Buffalo, New York-based Osmose, Inc., a provider of predictive and preventative maintenance services for power distribution and transmission systems.
The sale gives Steleus the opportunity to concentrate its resources on the telecommunications market. The company will focus its sales, development and delivery investments on its industry-leading prOceSS7â„- traffic analysis and management system. prOceSS7 allows carriers and service providers to monitor 100% of their network traffic on a real-time basis, regardless of technology, geography or interconnection complexity.
Under the terms of the sale, the FastGate/Utilities business retained the name Coherent Networks and became an operating division of Osmose, Inc. Steleus will soon become the corporate name for the Coherent Networks International companies worldwide, which will now concentrate their resources exclusively on the telecommunications business.
Rick Mace, chairman, president and chief executive officer of Steleus Group, said, “The company’s strategic focus is providing real-time traffic analysis and management systems as well as software tools for business analysis for the telecommunications market worldwide. The sale of the FastGate/Utility business gives us the opportunity to concentrate our management, investment and development resources on our core business. This sale is very good news for our worldwide telecommunications customer base, which will now benefit from increased investment in our prOceSS7 probe and business applications. These products provide them with the tools they need for real-time operations management and business analysis.”
Commenting further on the sale, Mace said, “It was a difficult decision to sell the FastGate/Utility business because of our success, strong brand recognition and competitive position in the power utility market. The FastGate/Utility business has gained a great deal of momentum over the last year, and we expect this momentum to accelerate given Osmose’s presence and customer base in the power utility market.”
The Steleus Group pioneered the deployment of real-time call detail record capture and mobile messaging for the telecommunications industry through the company’s European subsidiary, NMG Telecoms. Steleus’ prOceSS7â„- traffic analysis system allows carriers and service providers to monitor 100% of their network traffic on a real-time basis, regardless of technology, geography or interconnection complexity.
The prOceSS7 system also serves as an open platform for delivering software applications designed to provide carriers with real-time access to mission-critical customer and network information–the information they need to optimize network availability, improve efficiency and target new services. prOceSS7’s suite of advanced SS7 traffic analysis applications enables a carrier to leverage the data collected by the prOceSS7 platform to non-invasively improve network efficiency and availability, monitor and enforce service level agreements, augment customer care through access to relevant call details, independently verify interconnection billing accuracy, detect fraud, and even intervene in real time in critical situations.
Steleus also provides wireless carriers with messaging applications that can be used to market new roaming services via SMS messages. Drawing upon the company’s more than 30 years’ experience providing solutions for the telecommunications industry, Steleus’ products are deployed and in production with more than 75 carriers across 6 continents. For more information, please visit www.steleusgroup.com.