CSG SYSTEMS INTERNATIONAL, INC. (NASDAQ:CSGS) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
CSG Systems International, Inc. (“CSG”) currently generates a material portion of its revenues from Charter Corporation Inc. (“Charter”), which acquired Time Warner Cable, Inc. (“Time Warner”) in May 2016. In connection with the acquisition, the Time Warner Master Subscriber Management Agreement (the “Time Warner Agreement”) was assigned to Charter. The combined Charter/Time Warner revenues represented approximately 21% of CSG’s total revenues for the quarter ended March 31, 2017, making Charter CSG’s second largest client.
Our current agreement with Charter runs through December 31, 2019. The Time Warner Agreement, which covers the Time Warner customer accounts serviced by CSG and now owned by Charter, was originally set to expire on March 31, 2017, but was extended for additional one-month periods through June 30, 2017.
On June 29, 2017, CSG amended the Time Warner Agreement to provide for an additional one-month extension through July 31, 2017, while the parties continue to finalize terms relating to a new long-term Charter Consolidated Master Subscriber Management System Agreement that will provide CSG products and services covering both Time Warner and Charter customer accounts under one master agreement.
A copy of this amendment, with confidential information redacted, will be filed as an exhibit to CSG’s Form 10-Q for the quarter ended June 30, 2017.
About CSG SYSTEMS INTERNATIONAL, INC. (NASDAQ:CSGS)
CSG Systems International, Inc. is a provider of business support solutions primarily serving the communications industry. The Company’s solutions coordinate and manage various aspects of service providers’ customer interactions, from the activation of customer accounts, to the support of various service activities, and through the presentment, collection and accounts receivables management of monthly customer statements. Its product solutions include cable and satellite care and billing, convergent rating and billing, mediation and data management, wholesale settlement and routing, customer interaction management, business intelligence, and content management and monetization. Its billing and customer care platform, Advanced Convergent Platform, is the system for cable and satellite providers in North America. Its customer interaction management solutions help delivers a personal and relevant involvement across all customer touch points, such as Web or other communications methods.
