February 23, 2017 / 12:23 PM / a year ago

BRIEF-Redknee announces new strategic plan

Feb 23 (Reuters) - Redknee Solutions Inc

* Redknee announces new strategic plan for long-term growth and sustained profitability

* Company intends to create two major operating units: * “strategic global accounts” and “packaged and cloud solutions”

* Intends to wind down non-telecom operations outside scope of these two operating units

* Strategic plan includes a corporate restructuring scale of which is based on a go-forward revenue base of $120 million

* Estimates restructuring will require $60 million in capital that is expected to be financed through an equity raise

* Restructuring is expected to be completed in 2018

* Company also announced its intention to eliminating reporting on non-IFRS measures

* Redknee Solutions - management will review company’s other financial and operational policies to align with new goals of simplification and focus Source text for Eikon: Further company coverage:

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