Consolidates OpenRate's position as the leading commercial open source mediation and rating engine, providing a mature, high performance transaction processing for companies in the telecommunications, utilities and logistics sectors.

Bristol, England -- (SBWire) -- 04/01/2010 -- Tiger Shore Management Ltd, the operating company behind the OpenRate open source mediation and rating engine for use in telecommunications, utilities and logistics environments, today announced the release of the long awaited Version 1.1 of their flagship product. The OpenRate V1.1 “Convergent” release consolidates the improvements made during 2009 and the early part of 2010 in the real time processing framework, meaning that OpenRate now offers a true “configure once, use anywhere” high performance charging engine.

"With this release, we are offering a mediation, charging and rating engine which offers world class performance, and a full and extensible capability. Our customers can rest assured OpenRate is able to support their business, regardless of what function, payment model or service they provide," said Ian Sparkes, OpenRate's Founder, and Chief Architect. "We have created a low cost solution that absolutely does not compromise on feature set or flexibility, while offering the ability to adapt to whatever existing components in the rating and billing landscape."

About OpenRate
The OpenRate mediation and rating engine is a highly modular transaction engine for calculating the costs of events (for example telephone calls, or utility meter readings) either in real time or batch processing. The engine also provides easy access to authorization of service usage based on the amount of credit a subscriber has, making it ideal for AAA applications.

OpenRate is a fully open source product, professionally supported with a dual licensing strategy that makes it accessible to both end user organizations and service providers or resellers.

Openrate, was founded in 2006 and is based in Bristol, United Kingdom with branch offices in Italy.

For additional information, please visit http://www.open-rate.com.

OpenRate and the OpenRate logo are trademarks of Tiger Shore Management, Ltd.