Basset, TailorMade Close Billing Software Merger

By Craig Galbraith Comments
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**Editor's Note: Please click here for a recap of the biggest Q4 2012 M&A in the service provider and BSS/OSS spaces.**

A pair of Swedish billing software companies have wrapped their merger and are looking ahead to 2013.

Basset and TailorMade Consulting Group have combined forces under the Basset name. The companies announced last month they were merging; the deal closed on Jan. 1. Both companies are owned by Modern Holdings Inc., a U.S. holding company.

The companies' roots are both in the telecom industry, but while Basset stayed in telecom, TailorMade has been focusing on the energy market, where smart meters and smart grids require more complex billing solutions. The merged company will continue to focus on billing solutions for both industries.

The company expects revenue of approximately US$14.3 million this year. It has 80 employees, doing business with telecom operators and utilities in 70 countries.

"This merger will strengthen our brand further as we have great synergies in e.g. product innovation and software development," said Jens Björkman, CEO of the merged company. "This is a merger with clear focus on growth and innovation. Both companies have a history of similar products with a focus on modular and easily integrated products. Going forward, this will be strengthened further."

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