Amdocs, the leading provider of customer experience solutions, Wednesday announced that it has entered into an agreement to acquire a substantial majority of Comverse's business support systems (BSS) business unit assets for approximately $272 million. The deal has received the green light from the Board of both companies and upon the completion of the transaction, Comverse will continue to exist as a separate company. The acquisition will complement Amdocs' market focus by expanding and diversifying Amdocs' global customer base, particularly in Asia Pacific, Latin America and Europe, and includes Europe's cable and satellite market.
The announcement came on the same day as the leading software and services company for communications, media and entertainment industry reported its fiscal second-quarter results. The company reported a profit of $116.3 million on revenue of $902.6 million for the quarter ended March 31 against a profit of $110.4 million on revenue of $896.9 million for the same quarter last year.
Philippe Tartavull, President and CEO, Comverse
Amdocs is a leader in customer experience solutions for the communications industry. With Amdocs' broad range of products and services, this agreement will only serve to benefit existing Comverse BSS customers. Customers should feel assured by Amdocs' experience with smoothly integrating acquisitions and their commitment to maintaining and growing relationships.
Eli Gelman, President and CEO, Amdocs Management Limited
As a result of this acquisition Amdocs, with its more than 30-year industry experience, will be able to bring additional value and innovation to Comverse's customers. As we move forward, the strength of our company and unique business model which combines products and services will enable Amdocs to offer even better services to customers as we leverage our joint professional industry expertise for the benefit of our customers.
