Amdocs to acquire Openet to help service providers differentiate in the 5G era

JUL 24, 2020

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Deal will extend Amdocs’ portfolio with state-of-the-art 5G charging, policy and data management cloud-native technologies

Amdocs (NASDAQ: DOX), a leading provider of software and services to communications and media companies, announced it has entered into a definitive agreement to acquire Balderton portfolio company Openet, a world-leading provider of 5G charging, policy and cloud technologies.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.

We are excited to join Amdocs, with whom we have been alongside at customers for many years, and help bring fast value to service providers’ 5G plans. It is truly a momentous day for Openet and for all of our stakeholders. 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.

Niall Norton, Openet CEO

The Boards of Directors of Openet and Amdocs have approved the transaction for net consideration of approximately $180 million in cash. 

We have been on a 20-year journey in Openet to build a business of which we can all be proud. In recent years, we have built new 5G products which are recognized worldwide for their innovation and modern open, cloud-native architecture. We all look forward to the combined technology strengths of Openet and Amdocs creating new opportunities for service providers at this exciting time of 5G adoption.

Joe Hogan, Openet founder and CTO

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