MUMBAI (Reuters) - Subex Ltd, a provider of telecom software products, said on Tuesday it has entered into an agreement to sell its activation business to NetCracker, but did not reveal financial details of the deal.
NetCracker is a telecom operation support system provider and part of NEC Group, it said in a statement.
The decision to sell activation business follows a change in the company's strategy to focus on its core products.
The activation business consists of service fulfillment solutions, a host of products that include NetProvisioning, NetOptimizer and Vector.
Subex said it estimates its current qualified pipeline for continuing business is worth $350 million.
The decision and renewed focus will enable the company to grow its revenues over 20 percent annually, it said.
At 10.53 a.m., the company's shares were up trading up 4.9 percent to 49.25 rupees in a strong Mumbai market.
(Reporting by Rajesh Kurup; Editing by Harish Nambiar)
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
