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Redknee Solutions Inc (RKN.TO)

RKN.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Redknee announces new strategic plan
Thursday, 23 Feb 2017 07:00am EST 

Redknee Solutions Inc : Redknee announces new strategic plan for long-term growth and sustained profitability . Company intends to create two major operating units: . "strategic global accounts" and "packaged and cloud solutions" . Intends to wind down non-telecom operations outside scope of these two operating units . Strategic plan includes a corporate restructuring scale of which is based on a go-forward revenue base of $120 million . Estimates restructuring will require $60 million in capital that is expected to be financed through an equity raise . Restructuring is expected to be completed in 2018 . Company also announced its intention to eliminating reporting on non-IFRS measures .Redknee Solutions - management will review company's other financial and operational policies to align with new goals of simplification and focus.  Full Article

Redknee Solutions reports Q1 fiscal 2017 results
Wednesday, 8 Feb 2017 06:26pm EST 

Redknee Solutions Inc : Redknee Solutions reports first quarter fiscal 2017 results . Redknee Solutions Inc qtrly revenue was $37.2 million compared to $50.1 million . Board of directors concluded that there are opportunities to further restructure business . Redknee Solutions Inc qtrly loss per share $0.06 . Redknee Solutions Inc - Order backlog of $162.1 million at December 31, 2016 . Redknee Solutions Inc- Withdrawing financial guidance it had previously provided for fiscal 2017 for revenues of between $170 million and $180 million . Redknee Solutions - Board directed management to develop various restructuring proposals with specific focus on realizing additional cost savings .Redknee Solutions Inc- Withdrawing financial guidance it had previously provided for fiscal 2017 for adjusted EBITDA of between $15 million and $20 million.  Full Article

ESW Capital says enters into agreement to acquire preferred shares, warrant of Redknee Solutions
Wednesday, 21 Dec 2016 06:26pm EST 

ESW Capital LLC - : ESW Capital, LLC enters into agreement to acquire preferred shares and warrant of Redknee Solutions Inc. .ESW Capital LLC says ESW Capital to subscribe for 800,000 series a preferred shares and common share purchase warrant for proceeds of US$83.2 million.  Full Article

Redknee Solutions announces US$80 mln private placement
Friday, 9 Dec 2016 08:42am EST 

Redknee Solutions Inc : Redknee Solutions Inc - net proceeds of transaction will also be used to fund previously announced restructuring costs . Redknee Solutions Inc - entered into an agreement with a subsidiary of Constellation Software Inc providing for an investment of US$80 million in Redknee . Redknee Solutions- net proceeds of transaction to be used to repay indebtedness of about US$53 million under company's senior secured credit facility . Redknee Solutions- pursuant to constellation agreement, Constellation's unit will be entitled to elect number of directors to be a majority of board .Redknee Solutions Inc announces US$80 million private placement.  Full Article

Redknee Solutions enters into waiver and amendment with lenders
Friday, 30 Sep 2016 05:00pm EDT 

Redknee Solutions Inc : Lenders have waived certain financial covenant requirements under credit agreement for twelve-month period ended September 30 .As at September 30, 2016, $52.8 million was outstanding under facilities established by credit agreement..  Full Article

Redknee forms committee to review strategic alternatives
Monday, 22 Aug 2016 07:00am EDT 

Redknee Solutions Inc : Redknee solutions announces formation of special committee to review strategic alternatives . Has not set definitive schedule to complete evaluation and no decision on any particular transaction ,alternative has been reached .Says does not intend to disclose ongoing developments with respect to this process.  Full Article

Redknee solutions reports Q3 loss $0.11/shr
Wednesday, 3 Aug 2016 06:51pm EDT 

Redknee Solutions Inc : Redknee Solutions reports third quarter fiscal 2016 results . Qtrly net loss was $12.3 million, or $0.11 loss per share (including $4.1 million in restructuring costs) . "we expect that our backlog will contribute to increased revenue visibility for fiscal year 2017" . Sees fiscal 2017 revenue of between $170 million and $180 million . Qtrly revenue totalled $40.5 million compared to $46.7 million . Qtrly order backlog increased both year-over-year and sequentially to a record $180.7 million . Sees fiscal 2016 revenue of between $170 million and $172 million ."in fiscal 2017 we expect to generate adjusted ebitda in range of $15 to $20 million dollars".  Full Article

Redknee Solutions reports Q2 loss per share $0.33
Monday, 9 May 2016 06:05pm EDT 

Redknee Solutions Inc : Redknee Solutions reports second quarter fiscal 2016 results . Quarterly revenue totaled $39.8 million ($40.6 million, on a constant currency basis), compared to $53.7 million . Q2 loss per share $0.33 .Quarterly order backlog was $175.5 million.  Full Article

Redknee Solutions Inc and Wipro signs memorandum of understanding
Tuesday, 23 Feb 2016 07:00am EST 

Redknee Solutions Inc and Wipro:Have signed a Memorandum of Understanding with an objective to enter into a strategic partnership to address evolution of telecommunications industry toward digital transformation services, the connected world and internet of things.  Full Article

Redknee Solutions Inc completes acquisition of Orga Systems
Friday, 31 Jul 2015 04:00pm EDT 

Redknee Solutions Inc:Says closing of the acquisition of Orga Systems.Says previously announced its intention to purchase Orga Systems on June 23, 2015.  Full Article

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