Amdocs has announced it has entered into a definitive agreement to acquire a substantial majority of Comverse’s business support systems (BSS) business unit assets for approximately $272 million in cash. The deal is expected to be completed before end of September 2015.
Amdocs is purchasing a substantial majority of Comverse’s BSS assets and will maintain and support Comverse customers around the world. The acquisition geographically complements Amdocs’ market focus by expanding and diversifying Amdocs’ global customer base, particularly in Asia Pacific, Latin America and Europe, and including Europe’s cable and satellite market.
Publicly traded Comverse will continue to exist as a separate company, with a singular focus on expanding its global market leadership in digital services.
“Amdocs is a leader in customer experience solutions for the communications industry. With Amdocs’ broad range of products and services, this agreement will only serve to benefit existing Comverse BSS customers,” said Philippe Tartavull, president and chief executive officer, Comverse. “Customers should feel assured by Amdocs’ experience with smoothly integrating acquisitions and their commitment to maintaining and growing relationships.”
“As a result of this acquisition Amdocs, with its more than 30-year industry experience, will be able to bring additional value and innovation to Comverse’s customers,” said Eli Gelman, president and chief executive officer for Amdocs Management Limited. “As we move forward, the strength of our company and unique business model which combines products and services will enable Amdocs to offer even better services to customers as we leverage our joint professional industry expertise for the benefit of our customers.”