UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
CSG Systems International, Inc. (“CSG”) currently generates a material portion of its revenue from Comcast Cable Communications Management, LLC, an affiliate of Comcast Corporation (“Comcast”), under a multi-year Master Subscriber Management System Agreement (the “Agreement”) that runs through December 31, 2024 for processing and other related solutions, and through December 31, 2025 for print and mail services for residential customer accounts. For the first quarter of 2023, CSG generated approximately 18% of its total revenues from Comcast.
The Agreement provides Comcast with the option to extend the processing and other related solutions for an additional one-year term by exercising the option no later than June 30, 2023. On June 29 2023, Comcast exercised the option to extend the processing and other related solutions through December 31, 2025. Terms of the extension remain consistent with the financial terms and obligations under the Agreement.
A copy of the Agreement and related amendments, with confidential information redacted, is on file with the SEC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CSG SYSTEMS INTERNATIONAL, INC. |
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Date: |
July 6, 2023 |
By: |
/s/ David N. Schaaf |
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David N. Schaaf |