Am-Beo in deal with Bertelsmann subsidiary

29 Jan 2003

Galway billing firm Am-Beo has signed a significant deal with Bertelsmann Financial Services (BFS) to install rating, billing and revenue settlement technology across BFS’s internet retail and portal sites.

The latest major deal comes on the heels of Am-Beo securing a €12.5m venture capital investment in December from Intel Capital, Advent and ACT, bringing total investment in the Galway company to €20m to date.

BFS Finance is part of Bertelsmann subsidiary Arvato Services one of the world’s largest networked media services companies, with some 55 subsidiaries worldwide. The role of Arvato Services is to ensure a quick and direct flow of information, goods and finance in the realms of business-to-business and business-to-consumer commerce.

BFS provides financial management solutions to internet service providers and e-commerce organisations, managing approximately 100 million transactions each year across 18 currencies.

Am-Beo’s CEO John Brady said the deal represents a significant step forward for the Galway company. “BFS is a world-class provider of financial services and this contract demonstrates our capacity to manage the largest providers with the most advanced services in the market.”

BFS will be using Am-Beo’s flagship product Rate-rec, which provides rating and revenue settlement for voice, data, content and other usage-based services.

Tornado Insider recently recognised Am-Beo as one of the Top 10 emerging companies in Europe.

BFS’s managing director Matthias Mierisch said: “The software also gives us the flexibility to replace our clients’ existing charging models and to introduce advanced charging models for our clients’ next generation services.”

By John Kennedy