Amdocs Completes Acquisition of Openet to Accelerate the Pace of Taking the Communications Industry to the Cloud and Help Service Providers Differentiate in the 5G Era
August 11, 2020 - Openet
ST. LOUIS ⎯ August 11, 2020 ⎯ Amdocs (NASDAQ: DOX), a leading provider of software and services to communications and media companies, today announced that it has completed the acquisition of Openet, a world-leading provider of 5G charging, policy and cloud technologies. This acquisition brings together Openet’s open and network-centric technologies with 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 delighted to welcome Openet and its customers to Amdocs and look forward to working together to bring world-class cloud-native capabilities, network pedigree, and deep 5G charging, policy and data management expertise to service providers around the world,” said Anthony Goonetilleke, group president of Media, Network and Technology, Amdocs. “With this acquisition, Amdocs stands ready to help services providers future-proof their business as they move into edge compute and 5G and accelerate their cloud journey and operational agility.”
As we previously indicated, 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. Non-GAAP diluted earnings per share excludes amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisition related liabilities measured at fair value and equity-based compensation expenses, net of related tax effects. The impact on GAAP diluted EPS will not be known until after Amdocs completes the purchase price allocation.
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