Evolving Systems Enters Definitive Agreements to Sell Activation and Marketing Businesses to PartnerOne Capital for $40 Million

ENGLEWOOD, Colo., Oct. 18, 2021 (GLOBE NEWSWIRE) -- On October 15, 2021, Evolving Systems, Inc. (NASDAQ: EVOL) entered into definitive agreements to sell all of the assets of its Customer Acquisition and Network Services division (‘Activation’) as well as its CVML and Loyalty Business (‘Marketing’) to PartnerOne Capital for a base purchase price of $40 million. The proposed transaction, which has been approved by the Board of Directors of both companies, is subject to various terms and conditions, including approval by Evolving Systems’ stockholders. Evolving Systems expects to file a preliminary proxy statement regarding the proposed transaction with the U.S. Securities & Exchange Commission within 30 days.