Core Insights - The acquisition of Optiva by Qvantel has been successfully completed, enhancing Qvantel's position in the digital BSS and telecom solutions market [1][5] - The combined organization now serves over 70 operators in more than 40 countries, supported by a workforce of over 1,000 professionals [2][14] - The early market response has been positive, with four new customer contracts signed in the last three months, indicating strong market momentum [2][3] Company Overview - Qvantel and Optiva together provide a comprehensive monetization and digital operations portfolio, enabling operators to accelerate growth and reduce operational costs through low code/no code configuration and AI-driven automation [3][4] - The Qvantel Flex Suite, which includes Optiva's software, allows for rapid changes in offers, pricing, and processes, significantly reducing time to market and cost of change [4][5] Market Position and Strategy - The telecom industry is evolving slowly, but the combined capabilities of Qvantel and Optiva position them to capitalize on emerging opportunities, particularly in AI and enhanced digital services [5] - The collaboration has already resulted in new customer wins and a strong pipeline, demonstrating demand for their unified strengths and agile approach [5] Financial Details of the Acquisition - Under the acquisition arrangement, Qvantel acquired all issued and outstanding common shares of Optiva for cash consideration of $0.25 per share, and holders of senior secured notes received a combination of shares, notes, and warrants [5][9] - Following the completion of the arrangement, Optiva Inc. was dissolved, and its common shares are expected to be delisted from the Toronto Stock Exchange [9][11]

Core Insights - Optiva Inc. reported its first quarter financial results for the period ending March 31, 2025, highlighting a focus on cloud-native billing and revenue management solutions for the telecom industry [2][11]. Business Highlights - Optiva was selected by three existing customers for upgrades and renewals, including a next-generation BSS platform and an Intelligent Network platform upgrade [3][12]. - The company integrated advanced generative AI technology into its BSS and charging solutions, enhancing operational efficiency and customer experience [4][12]. - Optiva's partnership with BT Group was strengthened to implement innovative communication services, leveraging Optiva's latest Application Server [9]. Financial Performance - Revenue for Q1 2025 was $11.6 million, a slight decrease from $11.7 million in Q1 2024 [10][13]. - The company reported a net loss of $2.3 million, an improvement from a net loss of $6.0 million in the same period last year [10][14]. - Adjusted EBITDA for the quarter was $0.5 million, compared to a loss of $2.3 million in Q1 2024 [10][14]. - Gross margin increased to 64% from 58% year-over-year, attributed to higher support and subscription revenue [13]. Cash Position - As of March 31, 2025, Optiva had a cash balance of $8.0 million, down from $12.0 million at the end of Q1 2024 [10][14]. - The company is actively engaged with strategic third parties regarding its $108 million Secured Notes maturing on July 20, 2025, with over 75% of noteholders committed to support [5][6].