Amdocs has acquired Sourced Group, a leading global technology consultancy specializing in large-scale cloud transformations for sophisticated, high-end enterprises in industries such as financial services, communications and others.
The two companies are excited by the opportunity to strengthen Amdocs’ capabilities for taking the communications industry to the cloud and bring to Amdocs’ 350+ service provider customers Sourced’s decade-long experience of delivering cloud at scale.
Sourced, a previously privately-owned company headquartered in Toronto, has offices in Australia, Singapore and Malaysia. Amdocs acquired Sourced in mid-March for a net consideration of approximately $75 million in cash. Additional consideration may be paid later based on the achievement of certain performance metrics, said Amdocs.
Shuky Sheffer, President and CEO of Amdocs Management
This acquisition is part of our wider cross-company investment in the cloud and will further solidify our leadership in this domain as we accelerate our strategy to take the communications and media industry to the cloud.
Jon Spinks, founder and CEO, Sourced
We are excited to join Amdocs and believe the combination of Amdocs’ cloud-native products and services and our high-end consulting and deep expertise across the entire cloud transformation process will prove compelling for service providers as they move to the cloud.
