Redknee Closes Acquisition of Nimbus Systems

Redknee Executes on its Strategic Growth Plan

TORONTO, August 12, 2010 - Redknee (TSX:RKN), a leading provider of business-critical
billing and charging software and solutions for communications service
providers, today announced the closing of its acquisition of Nimbus Systems,
a privately-held company that specializes in next generation billing, content
settlement and customer care. Redknee announced its intent to acquire Nimbus
Systems on July 30, 2010. The closure of the acquisition will immediately
increase Redknee's presence in Tier 1 group operators and will open
opportunities for Redknee to expand into new geographies and other key
verticals.

Caroline Chappell, Analyst at Large, Heavy Reading, commented:

"The acquisition of Nimbus Systems by Redknee reiterates how
the real-time billing and customer care space is becoming one of the most
dynamic domains in the industry today. As the world continues to converge
towards 3G and 4G networks, the need for robust end-to-end offerings in
real-time billing and customer care becomes more urgent as service providers
look to drive data revenue and increase profitability."

The technology and product synergies between Nimbus Systems
and Redknee's will see the full integration of Nimbus Systems' solutions into
Redknee's product portfolio. It will provide a broader set of offerings to
Redknee's customers as they upgrade or replace legacy systems in order to
migrate to next generation billing, charging and customer care platforms.
Redknee and Nimbus Systems' independently developed software, which includes
open APIs, will ensure that Redknee's solutions can be fully integrated into
any existing billing systems and are flexible and scalable to the evolving
needs of service providers. In addition, the expanded product portfolio will
enable service providers to launch more services, while reducing OPEX and
time-to-market.

Lucas Skoczkowski, Redknee's CEO, commented:

"We are excited to announce the closing of this acquisition.
We believe that the combined customer base, domain expertise and product
portfolio of Redknee and Nimbus Systems will bring new opportunities to
accelerate growth and increase our revenues and earnings. As we integrate
Nimbus Systems, we will look to cross-sell each-other's offerings to our
existing combined customer base, while being able to offer new customers a
broader range of products and services. In the future, Redknee will consider
expanding into new geographies and extend our target markets around our core
platform of monetization and customer care management."

More information on the acquisition can be found at
www.redknee.com/landing/nimbus

For more information about Redknee and their solutions, please
go to www.redknee.com.

About Redknee:

Redknee is a leading global provider of innovative communication software
products, solutions and services. Redknee's award-winning solutions enable
operators to monetize the value of each subscriber transaction while
personalizing the subscriber experience to meet mainstream, niche and
individual market segment requirements. Redknee's revenue generating
solutions provide advanced converged billing, rating, charging and policy for
voice, messaging and new generation data services to over 90 network
operators in over 50 countries. Established in 1999, Redknee Solutions Inc.
(TSX: RKN) is the parent of the wholly-owned operating subsidiary Redknee
Inc. and its various subsidiaries. References to Redknee refer to the
combined operations of those entities. For more information, visit
www.redknee.com.

FORWARD-LOOKING STATEMENTS

Certain statements in this release relating to the Acquisition
and other statements may constitute "forward-looking" statements which
involve known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements, or industry results,
to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. When
used in this document, such statements use such words as "may", "will",
"expect", "continue", "believe", "plan", "intend", "would", "could",
"should", "anticipate" and other similar terminology. These statements
reflect current assumptions and expectations regarding future events and
operating performance and speak only as of the date of this document.
Forward-looking statements involve significant risks and uncertainties,
should not be read as guarantees of future performance or results, and will
not necessarily be accurate indications of whether or not such results will
be achieved. A number of factors could cause actual results to vary
significantly from the results discussed in the forward-looking statements,
including, but not limited to, the failure of the parties to meet certain
terms and conditions relating to the Acquisition and the factors discussed
under the "Risk Factors" section of Redknee's most recently filed Annual
Information Form which is available on SEDAR at www.sedar.com and on
Redknee's web-site at www.redknee.com.

Although the forward-looking statements contained in this
document are based upon what we believe are reasonable assumptions, we cannot
assure investors that our actual results will be consistent with these
forward-looking statements. We assume no obligation to update or revise these
forward-looking statements to reflect new events or circumstances, except as
required by securities law.

For additional information please contact:

    Redknee Solutions:
    Humera Malik, Director of Global
    Marketing
    +1-905-625-2102
    humera.malik@redknee.com

    Redknee Solutions:
    David Charron, Chief Financial Officer
    +1-905-625-2943
    Investor Relations:
    Investor_relations@redknee.com

Redknee Solutions: Humera Malik, Director of Global, Marketing, +1-905-625-2102, humera.malik at redknee.com, Redknee Solutions: David Charron, Chief Financial Officer, +1-905-625-2943, Investor Relations: Investor_relations at redknee.com