Amdocs Acquires MX Telecom Mobile Payments and Messaging Aggregator
Amdocs (NYSE: DOX), a leading provider of customer experience systems, has acquired MX Telecom Ltd. MX Telecom is a leading mobile payments and messaging aggregator with operations in Europe, United States and Australia. Under the terms of the agreement, Amdocs has acquired MX Telecom for approximately $104 million USD in cash, net of debt and cash. This announcement was made at International CTIA Wireless 2010 taking place this week.
MX Telecom will become part of Amdocs’ OpenMarket, a business of Amdocs that operates a market leading mobile transaction hub. The acquisition accelerates OpenMarket’s plans for global expansion into key markets. The joint OpenMarket MX Telecom business will provide a hosted platform to extend mobile payment and messaging capabilities through an integrated network and product portfolio.
Under the terms of the agreement, Amdocs has acquired MX Telecom for approximately $104 million USD in cash, net of debt and cash. The impact of the acquisition on Amdocs’ non-GAAP earnings per share is expected to be modestly accretive in fiscal 2010. The impact on GAAP results in fiscal 2010 will not be known until after Amdocs completes the purchase price accounting for the acquisition. Amdocs may incur a one-time acquisition-related expense in the quarter ending March 31, 2010 to account for certain costs related to the acquisition.
OpenMarket is a leading mobile transaction hub in the United States. OpenMarket provides a comprehensive set of payment, messaging and emerging services to meet mobile business needs. From the largest consumer brands to the smallest new digital content ventures, OpenMarket empowers businesses to expand their marketing initiatives and strengthen customer relationships by leveraging the mobile channel. OpenMarket provides the most direct mobile operator connections in the US market today with rapid global expansion plans. OpenMarket is a business of Amdocs. For more information, please visit www.openmarket.com.
Amdocs is the market leader in customer experience systems innovation, enabling world-leading service providers to deliver an integrated, innovative and the intentional customer experience(TM) – at every point of service. Amdocs provides solutions that deliver customer experience excellence, combining the software, service and expertise to help its customers execute their strategies and achieve service, operational and financial excellence. A global company with revenue of $2.86 billion in fiscal 2009, Amdocs has approximately 18,000 employees and serves customers in more than 60 countries around the world. For more information, visit Amdocs at www.amdocs.com.
