-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 TbgcWRaT9eMsMRPEiq8Gw+jyFWJwzsPKLiW00XW370g55TgrSE2t5U9gy2CuMccB
 ipWsyujinQMuBYJVtRXhAg==

<SEC-DOCUMENT>0001005477-04-004014.txt : 20041112
<SEC-HEADER>0001005477-04-004014.hdr.sgml : 20041111
<ACCEPTANCE-DATETIME>20041112190250
ACCESSION NUMBER:		0001005477-04-004014
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041102
FILED AS OF DATE:		20041112
DATE AS OF CHANGE:		20041112

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			APAX EUROPE IV GP CO LTD
		CENTRAL INDEX KEY:			0001167510
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24081
		FILM NUMBER:		041141213

	BUSINESS ADDRESS:	
		STREET 1:		15 PORTLAND PLACE
		CITY:			LONDON ENGLAND
		STATE:			X0
		ZIP:			W1B 1PT

	MAIL ADDRESS:	
		STREET 1:		15 PORTLAND PLACE
		CITY:			LONDON UK
		STATE:			X0
		ZIP:			W1B 1PT

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EVOLVING SYSTEMS INC
		CENTRAL INDEX KEY:			0001052054
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
		IRS NUMBER:				841010843
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		9777 MT PYRAMID COURT
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112
		BUSINESS PHONE:		3038021000

	MAIL ADDRESS:	
		STREET 1:		9777 MT PYRAMID COURT
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-11-02</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001052054</issuerCik>
        <issuerName>EVOLVING SYSTEMS INC</issuerName>
        <issuerTradingSymbol>EVOL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001167510</rptOwnerCik>
            <rptOwnerName>APAX EUROPE IV GP CO LTD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>13-15 VICTORIA ROAD, ST. PETER PORT</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GUERNSEY, CHANNEL ISLANDS</rptOwnerCity>
            <rptOwnerState>X0</rptOwnerState>
            <rptOwnerZipCode>GY1 3ZD</rptOwnerZipCode>
            <rptOwnerStateDescription>UNITED KINGDOM</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Series B Convertible Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.50</value>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-11-12</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F4"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2899998</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>None</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On November 2, 2004, pursuant to a Stock Purchase Agreement dated as of November 2, 2004, by and among the Issuer, Tertio Telecoms Group, Ltd.(&quot;Tertio&quot;) and the other parties signatory thereto, Tertio received an aggregate of 966,666 shares (the &quot;Series B Shares&quot;) of Series B Convertible   Preferred Stock of the Issuer (the &quot;Series B Stock&quot;) as a portion of the purchase consideration for its sale of Tertio Telecoms Ltd to the Issuer. As of November 2, 2004, the Series B Shares are convertible into 2,899,998 shares of common stock, par value $0.001 per share (&quot;Common Stock&quot;), of the Issuer.</footnote>
        <footnote id="F2">Each share of Series B Stock is convertible at any time at the option of the holder into a number of fully paid and nonassessable shares of Common Stock equal to the quotient of (x) $10.50 divided by (y) the conversion price in effect at the time of conversion. The conversion price per share  of Series B Stock is currently $3.50 and is subject to anti-dilution protection from time to time.</footnote>
        <footnote id="F3">Apax Europe IV GP Co. Limited (the &quot;Reporting Person&quot;) is the Managing General Partner of Apax Europe IV GP, L.P., which is the Managing General Partner of the following funds, which may be considered beneficial owners of the 966,666 shares of Series B Stock through their equity interests in Tertio: Apax Europe IV - A, L.P., Apax Europe IV - B, L.P., Apax Europe IV - C GmbH &amp; Co. KG, Apax Europe IV - D, L.P., Apax Europe IV - E, L.P., Apax Europe IV - F, C.V. and Apax Europe IV - G, C.V. The Reporting Person   disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.</footnote>
        <footnote id="F4">Not Applicable</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>\s\ Denise J. Fallaize</signatureName>
        <signatureDate>2004-11-11</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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