Amdocs to acquire Openet for $180 mn

Amdocs has agreed to acquire Openet, a provider of charging, policy and cloud technologies, for $180 million.
Amdocs for telecomsOpenet is a privately-owned company headquartered in Ireland, with offices in the US, Malaysia and Brazil and a global customer base.

Openet has been generating in the past two calendar years revenue of roughly $70 million per annum.

Joe Hogan, Openet founder and CTO, said: “In recent years, we have built new 5G products which are recognized worldwide for their innovation and modern open, cloud-native architecture.”

The impact of the acquisition on Amdocs’ non-GAAP diluted earnings per share is expected to be neutral in the full fiscal years 2020 and 2021, and accretive thereafter.

Shuky Sheffer, president and chief executive officer of Amdocs Management, said: “The Openet solutions complement our portfolio and this acquisition is part of our mission to accelerate the industry’s move to the cloud.”