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| Mind C.T.I., Ltd. (MNDO) | ||
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Business Summary excerpt from SEC filing dated: June 29, 2006
History and Development of the Company Our name is MIND C.T.I. Ltd. for both legal as well as commercial purposes. We were incorporated under the laws of the State of Israel on April 6, 1995 as a company with limited liability, and we are subject to the Israeli Companies Law, 1999 and the regulations promulgated thereunder. Our principal executive offices are located at Industrial Park, Building 7, Yoqneam 20692, Israel. Our telephone number is +972 4 993 6666. Our agent in the United States is Sentori, Inc. and its principal offices are located at 12211 Plum Orchard Drive, Suite 320, Silver Spring, MD 20904, USA Since 1997 we developed and marketed a real-time mediation and billing solution, mainly to the Internet protocol, or IP, prepaid markets, known as MIND-iPhonEX. During 2005, we completed the acquisition of the Sentori Inc., a U.S. company founded in 1994 and based in the Washington, D.C. metro area. Sentori is a leading provider of customer care and billing solutions to wireless carriers and mobile virtual network operators, or MVNOs, mainly in the United States and the Caribbean. We are in the process of incorporating the Sentori functionality into the MIND-iPhonEX product line, and we intend to brand the combined products under the MINDBill name. We plan to continue to support the Sentori product with new maintenance releases, as well as customization requests. In addition, we will offer our existing customers a migration path to MINDBill. |
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The acquisition of Sentori opened marketing footprints in the United States and in the mobile markets, brought us approximately 16 customers and a strong brand, which we plan to leverage to increase sales in the United States.
Business Overview We develop, manufacture and market real-time and off-line mediation, rating, billing and customer care software for various types of communication providers, including traditional wireline and wireless, voice over IP, or VoIP, and broadband IP network operators, cable operators, 3G operators and mobile virtual network operators, or MVNOs. Our convergent billing and customer care solution supports multiple services, including voice, data and content services as well as both prepaid and post-paid payment models in a single platform. Prepaid subscribers can enjoy the full range of services offered by the provider, with their special bundles, rating plans and limits. The prepaid solution authorizes each service and controls each session in real time, taking care that the balance is not exceeded. Post-paid subscribers, including credit-limited and non-limited, either retail or business customers, represent the loyal and the higher average revenue per user, or ARPU, market. All services used by a post-paid subscriber appear in a single bill, which includes all charges, including one-time, recurring and usage-related charges. Our billing solution is unique as it includes our own integrated real-time mediation product that provides interfaces with IP and traditional telecommunication equipment. We also provide professional services, primarily to our billing and customer care customers, consisting of installation, customer support, training and maintenance services, customization and project management. Our professional services also include turnkey project implementation services. In addition to our billing and customer care solutions, we offer three call management systems used by organizations for call accounting, traffic analysis and fraud detection. Our traditional enterprise software, which we call PhonEX, has been installed in over 10,000 locations throughout the world. Our other enterprise software, which we call MEIPS, is a product directed towards the same market segment where IP switches are implemented. MEIPS has been installed at a variety of locations around the world. Our latest product, PhonEXONE, delivers one unified solution for all voice communication expenses including traditional, IP and mobile telephony. The flexible and scalable architecture of PhonEXONE meets the needs of large enterprises, supporting an unlimited number of extensions and sites. This new product was developed to include full functionality through a web browser, based on Microsoft SQL database and enhanced by the advanced ASP.NET technology. |
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