Mississauga, Ont. company Redknee Solutions Inc. will buy Nokia Siemens Networks' business support systems, gaining an additional 1,200 employees, the companies said Wednesday. Nokia Siemens' business support systems provide charging, rating, policy, and customer care services to more than 130 communications companies, including half of the top 100 global mobile operators, a release said. Nokia Siemens Networks is a division of Nokia Corp. Redknee provides software and other “converged billing” services to communications companies to help them manage customer billing. Redknee CEO Lucas Skoczkowski told BNN in an interview Wednesday that, following the acquisition for 40 million euros, the company's billing solutions will support one billion subscribers of mobile or communications services globally. “I would say it's a very good deal for our shareholders. I think for us it's a great asset. There was more than price involved in this. It was about faith in the management, about supporting their product, making sure we support their customers, making sure we can find a place for their employees, and making sure we can create a long-term, stable company,” Skoczkowski told BNN. “It's all about customer retention.” The acquisition involves the transfer to Redknee of Nokia's customer and supplier contracts, intellectual property rights, assets, and about 1,200 employees mostly in Berlin; Bangalore, India; and Wroclaw, Poland, the release said. Redknee said its footprint will extend to more than 90 countries in Europe, Asia Pacific, the Middle East and Africa and that it expects to finance the transaction through 15 million euros in cash and 25 million euros in debt. The acquisition—subject to regulatory and other third-party approvals, including a consultation with trade unions—is expected to close in the first half of 2013, the release said.