MUMBAI, INDIA, Sept. 5, 2012 (GLOBE NEWSWIRE) -- Kranem Corporation (OTCBB:KRAN), a leading global provider of end-to-end Proactive Intelligence, Analytics and Revenue Maximization software and solutions serving the Homeland Security and Telecom Security industries, announced today that its wholly owned subsidiary, Xalted Information Systems Pvt. Ltd. ("Xalted"), has been selected by ZTE India Pvt. Ltd. (Gurgaon, India), a wholly-owned subsidiary of ZTE Corporation (Shenzhen, China) to deploy Xalted's Fraud Detection and Analytics ("FraudTrace"), and Revenue Maximizer ("xTRA") solutions across BSNL's India-wide telecommunication network to combat telecom fraud and to significantly reduce revenue leakage.
The 2G/3G network expansion project was part of tender floated by BSNL for augmentation of its entire 2G/3G network. The expansion was divided across BSNL's four zones. ZTE Corporation, China's second largest telecommunications equipment manufacturer and service provider won the expansion order for two of the four zones, as the prime bidder. Xalted has been selected to provide solution for real-time fraud management and revenue assurance. ZTE has requested that the equipment and software associated with the order be delivered and invoiced prior to September 30, 2012.
Prior to the current expansion order, Xalted had successfully implemented FraudTrace and Revenue Assurance ("xTRA") solutions in 2008 for expansion of 10 million subscribers and in 2011 for expansion of 30 million subscribers with BSNL. This is the third time that Xalted has been selected by the prime bidders for its flagship telecom security software "FraudTrace" and "xTRA," which provide real-time fraud detection, revenue maximization and analytics. Xalted's Fraud Management and Analytics solution, branded as "FraudTrace" and Revenue Assurance/Maximization solution branded as "xTRA" will be extending its Fraud Management software to an additional 31 million subscribers in the BSNL's telecom network. BSNL is India's oldest and largest communication service provider with over 95 million subscribers.
Ajay Batheja, Kranem/Xalted Group's Chairman and CEO, stated, "We were selected by ZTE which again demonstrates our unique value proposition to the telecom service providers including India's leading telecom carrier, BSNL, through our FraudTrace product's unmatched capability to bring consistent and repeatable cost savings through effectively combating fraud and revenue leakages. Our xTRA product provides operational efficiency in the business process ensures maximization of revenues." He further notes "We once again have the opportunity to demonstrate our value proposition to BSNL, as we have already implemented multiple solutions for the operator since 2006."
Since 2006, Xalted has successfully implemented its flagship products FraudTrace, a Fraud Management solution and xTRA, a Revenue Assurance solution across all zones of BSNL enabling the telecomprovider to monitor the fraudulent activities and take corrective actions in real-time. In one instance, our software found that the telecom provider suffered significant loss due to wrong ISD (International Dialing Codes) configuration, including the amount payable to the ILD (International Long Distance) operator. Based on the data gathered or input, the Xalted software, "xTRA," can generate over 200 reports on a daily basis providing the user with detailed analysis so as to initiate immediate and appropriate corrective actions.
About Kranem/Xalted Group:
The Kranem/Xalted Group is a leading global provider of advanced specialty software and services to the telecom industry, law enforcement agencies and government agencies. The Kranem/Xalted Group develops and markets advanced software solutions that enable companies and public organizations, including governments and law enforcement agencies, to capture, manage and analyze structured and unstructured data to address security threats and enhance operational performance. The two principal markets that our software solutions address are the telecom security market and the homeland security market. By providing advanced software tools to monitor communications and optimize decision making, the Kranem/Xalted Group helps law enforcement and government agency customers defend against security threats created by terrorists and criminal organizations by providing sophisticated analytics and actionable intelligence solutions. For telecom customers, the Kranem/Xalted Group provides software and solutions that are created to improve business performance, increase operational efficiency, maximize revenues and enhance network safety and security.
The company is headquartered in San Jose, California, USA, with additional offices located in Mumbai, Delhi, Bengaluru, and Baddi, India and Rome, Italy. For more information, please visit: www.xaltedcorp.com and/or www.kranem.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and is indicated by words such as "anticipates" and other similar words or phrases. Such forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the company to differ materially from those described herein, including but not limited to the impact of the global economic environment on the company's customer base (particularly telecom and law enforcement agencies) and the resulting uncertainties; changes in technology and market requirements; decline in demand for the company's products; inability to timely develop and introduce new software, services and applications; difficulties or delays in absorbing and integrating acquired operations, technologies and personnel; loss of market share; pressure on pricing resulting from competition; and inability to maintain certain marketing and distribution arrangements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Kranem Corporation undertakes no obligation to publicly release or otherwise disclose the result of any revision to these forward-looking statements that may be made as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.