August 4, 2005, St.
Louis, Missouri - Amdocs (NYSE: DOX), the leading provider of
software and services to enable integrated customer management and the
intentional customer experience, announced today the completion of the
acquisition of Longshine Information Technology Company Ltd., a
privately-held, leading vendor of customer care and billing software in
China. Amdocs acquired Longshine’s outstanding shares for approximately
US $30 million in cash with the possibility of additional cash
consideration to be paid later based on the achievement of certain
performance metrics. This acquisition expands Amdocs’ global presence
and marks its entry into mainland China.
“We are pleased with this acquisition and what the combination means for
Amdocs. The fast growing China market represents a tremendous potential
opportunity,” said Eli Gelman, executive vice president of Amdocs
Management Limited. “Amdocs combined offering will enable service
providers in China to effectively deal with the rapidly evolving market
needs, increasing competition and the associated growing complexity.”
The former Longshine will operate as a business unit in China within
Amdocs and will be led by the founder and CEO, Mr. Zhangjun XU. Amdocs
intends to continue to sell Longshine’s software products and services
in China. In parallel, Amdocs will continue offering the Amdocs 6
portfolio of products and accompanying services to the Chinese market.
Longshine has been providing billing, customer care, business
intelligence and settlement systems, as well as associated integration
and implementation services, since 1996, with a primary focus on the
telecommunications sector in China, in addition to the utility industry.
Today, it counts three out of China’s four largest communications
service providers and two power grid companies among its customers.
Headquartered in Beijing, Longshine is present in more than 15 provinces
across China and serves more than 120 million subscribers. It has been
successful in attracting skilled professionals experienced in the
delivery of customer care and billing systems, and has close to 800
Amdocs combines innovative software and services with deep business
knowledge to accelerate implementation of an integrated customer
management strategy by the world’s leading service providers. By
delivering a comprehensive portfolio of software and services that spans
the customer lifecycle – target, sell, deliver, bill and support –
Amdocs enables service companies to deliver an intentional customer
experience, which results in stronger, more profitable customer
relationships. Service providers also benefit from a rapid return on
investment, lower total cost of ownership and improved operational
efficiencies. A global company with the revenue of approximately $1.8
billion in fiscal 2004, Amdocs employs over 10,000 IT professionals and
serves customers in 40 countries around the world. For more information,
visit Amdocs at www.amdocs.com.
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