STERLING, Va., April 21, 2011 /PRNewswire/ -- Neustar, Inc. (NYSE: NSR), a provider of market-leading, innovative solutions and directory services that enable trusted communication across networks, applications, and enterprises around the world, today announced that it has entered into a definitive agreement to acquire the assets and certain liabilities of the Numbering Solutions business from Evolving Systems, Inc. (NASDAQ: EVOL). Under the terms of the agreement, Neustar will pay approximately $39.0 million in cash. (Logo: http://photos.prnewswire.com/prnh/20090722/NSLOGO ) The acquisition of Evolving Systems' Numbering Solutions business furthers Neustar's long-term initiative to simplify operators' OSS architectures by mitigating cost and complexity, while making the evolution to next-generation networks more efficient, manageable, and flexible to meet the increasingly complex needs of end-users. The industry's continual evolution and the rapid proliferation of IP-enabled devices magnify the critical importance and complexity of OSS architectures, which underscore the significance of this acquisition. "The profound change underway in the telecommunications industry is creating significant challenges and opportunities. Neustar sits at the intersection of this transformation, delivering proven solutions and services to help our customers get the most out of their communication networks," said Lisa Hook, Neustar's President and Chief Executive Officer. "Neustar is raising the bar for the industry by integrating the Evolving Systems capabilities to create a dynamic new number management paradigm. This combination extends the breadth of Neustar's Carrier Services portfolio, providing a strong foundation for our customers to meet their current needs and allowing them to harness the power of IP into the future." Neustar's Carrier Services solutions provide operators with a simple, cost-effective way to eliminate the complexity of telephone number and service management. Operators will now be able to harness these solutions through either a locally deployed or hosted model. The enhanced solutions are ideal for operators that need to manage traditional telephony numbering services while supporting existing and next-generation infrastructures. It combines the proven experience of industry leaders with service innovation, resulting in simplified operations, reduced operational costs, and investment protection.