Amdocs acquires Irish tech firm Openet for $180 million

San Francisco, July 24 (SocialNews.XYZ) US-based software and communications service provider Amdocs is acquiring Ireland-based Openet, a world-leading provider of 5G charging, policy and cloud technologies, in an all-cash $180 million deal.

The deal would bring Openet's open and network-centric technologies to Amdocs' over 350 service provider customers worldwide, helping them adopt 5G advancements around cloud, edge compute, IoT and new customer experiences.

"The Openet solutions complement our portfolio and this acquisition is part of our mission to accelerate the industry's move to the cloud," said Shuky Sheffer, President and Chief Executive Officer of Amdocs Management Ltd.

Openet is a privately-owned company headquartered in Ireland, with offices in the US, Malaysia and Brazil and a global customer base.

Openet CEO Niall Norton said this is an optimal time to join Amdocs.

"The caliber, resources and reach of Amdocs will bring significant and widespread opportunities across each of our disciplines," he said in a statement on Thursday.

"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".

Openet has been generating revenue of roughly $70 million per annum.

Amdocs employs 25,000 people globally, and over 10,000 employees are in India which is its biggest research and development hub. The company has development centres in Pune and Gurugram.

In March, the company announced to train 5,000 employees in Cloud-based technologies over the next couple of years in India.

Source: IANS