Amdocs last week announced that it has entered into an agreement to acquire Openet, a world-leading provider of 5G charging, policy and cloud technologies, for approximately $180 million in cash.
The two companies are excited by the opportunity to bring Openet’s open and network-centric technologies to Amdocs’ 350+ service provider customers worldwide, helping them to succeed in the wave of 5G advancements around cloud, edge compute, IoT and new customer experiences.
Openet is a privately-owned company headquartered in Ireland, with offices in the US, Malaysia and Brazil and a global customer base.
The transaction is expected to be completed before the end of the fourth quarter of fiscal 2020. Openet has been generating in the past two calendar years revenue of roughly $70 million per annum.
Shuky Sheffer, President and CEO, Amdocs
They bring world-class cloud-native capabilities, network pedigree, and deep 5G charging, policy and data management expertise. The Openet solutions complement our portfolio and this acquisition is part of our mission to accelerate the industry’s move to the cloud.
Niall Nortom, CEO, Openet
Given the strong momentum of our business this is an optimal time to be joining Amdocs. The caliber, resources and reach of Amdocs will bring significant and widespread opportunities across each of our disciplines.
