Bangalore-based Subex Limited has signed a three-year framework contract with British Telecom (BT) to provide the company with products and services in the domains of revenue assurance, fraud detection, interconnect billing and event integrity.

The deal is valued at $ 50 million.

Further, the framework contract also covers multi-year managed services for revenue assurance (using the Moneta revenue assurance product from Subex) and a Data Intelligence Repository (BASALT) supporting the domestic and international interconnect and international billing and settlement services.

Subex Limited provides operations support systems solutions for telecom applications. Its customers include 32 of the world's 50 largest service providers. The company has more than 300 installations across 70 countries.

A leading stock analyst has advised investors to quit the counter immediately as it is not looking fundamentally impressive. So, it is better for investors that they should switch over to other good counters in the same sector.

At 12.20 pm, Subex was trading 1% at Rs 79 on the Bombay Stock Exchange while the benchmark index was down 3.30 pct at 12,669 points. The shares of the company have been corrected more than 80% from its 52-week high of Rs 454.