Subex spurts on activation sale biz to NetCracker

NEW DELHI: Subex Ltd has rallied over 8% at Rs 51 after the company informed that it has entered into an agreement to sell its activation business to NetCracker for an undisclosed amount. NetCracker is a leading Telecom OSS player and part of the $ 40 billion NEC group.

"The sale is a part of the company's strategic decision to exit non core businessess and focus on core products i.e. ROC Solutions (Revenue Assurance, Fraud Management, Partner Settlement, Data Integrity Management etc.) and Managed Services," Subex said in a filing to the stock exchanges.

"Subex is strategically positioned to take advantage of these growth areas through its ROC and Managed Services Portfolio," said Subash Menon, Founder Chairman, Managing Director and CEO.

The stock hit a high of Rs 51 after opening at Rs 48.55 on the Bombay Stock Exchange (BSE). At 12:03 p.m., shares of the company were trading 5.2% higher at Rs 49.35.