May 16 (Reuters) - Redknee Solutions Inc RKN.TO :
* Redknee announces proposed transaction in furtherance of its strategic plan
* Redknee Solutions -entered non-binding letter of intent in respect of proposed transaction that will accelerate co's previously announced strategic plan
* Redknee Solutions -deal will be comprised of rights offering by co for subscription price per right of up to canadian dollar equivalent of US$0.50
* Redknee Solutions -contemporaneously with closing of rights offering, will enter into a services agreement with Crossover Markets Inc
* Redknee Solutions Inc says will also enter a technology services agreement with Devfactory FZ-Llc
* Redknee Solutions -rights offering to be backstopped by wave systems, an affiliate of esw capital, for amount of rights of up to 100 pct of rights offering
* Redknee Solutions -in connection with proposed transaction, wave will be granted warrant to acquire 2.5 million subordinate voting shares at US$0.50/share as fee Source text for Eikon: ID:nCNWSmPX1a Further company coverage: RKN.TO