Continual Ltd.'s technology, intellectual property, and client agreements will be acquired by RADCOM Ltd. under the terms of a binding agreement (TASE: CNTL). Leading mobility experience analytics startup Continual employs AI and ML to give cutting-edge insights to assist telecom operators in bettering the mobility experience for their subscribers.
"We are excited to welcome onboard the Continual employees and their advanced technology," said Eyal Harari, RADCOM's Chief Executive Officer. "This will enrich our RADCOM ACE analytics in location and mobility, helping operators optimize the subscribers' journey while traveling. Further enhancing our 5G analytics to ensure users enjoy the best customer experiences wherever they are."
Mr. Harari continued, "To 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."
"The Continual team is thrilled to be joining RADCOM as a leading assurance company in the 5G era and the cloud," said Omer Geva, Continual's Co-Founder and Chairman. "With 5G beginning to roll out and subscriber expectations of always-on connectivity, adding our mobility analytics to RADCOM's already rich assurance portfolio will strengthen its capabilities as it develops best-in-class solutions for leading telecom operators worldwide."
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.
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