Amdocs agreed to acquire Openet, a provider of 5G charging, policy and cloud technologies, in a deal valued at US$180 million.
Openet is a privately-owned company headquartered in Ireland, with offices in the US, Malaysia and Brazil and a global customer base.
“We are delighted the innovative Openet team is joining Amdocs. They bring world-class cloud-native capabilities, network pedigree, and deep 5G charging, policy and data management expertise,” said Shuky Sheffer, President and Chief Executive Officer of Amdocs Management Limited. “The Openet solutions complement our portfolio and this acquisition is part of our mission to accelerate the industry’s move to the cloud.”
“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,” said Niall Norton, Openet CEO. “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.”
“We have been on a 20-year journey in Openet to build a business of which we can all be proud,” said Joe Hogan, Openet founder and CTO. “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.”
