Amdocs Acquires 5G and Cloud Tech Developer Openet for $180 Million
Summary
The Dublin-based company specializes in high-performance software that streamlines network operations and the deal is set to usher Amdocs forward into the 5G and cloud computing market. The company recently announced the Openet-Amdocs deal that will see Openet’s expertise on network-centric tech being harnessed by over 350 service provider clients currently on Amdocs’ roster. As Openet has recently developed innovative 5G products, this deal will allow Amdocs to enrich the services it provides to its media and telecom clients in an era of gradual 5G adoption. For Openet, which was advised by Dublin-based firms Arthur Cox and Capnua on the deal, the acquisition will provide the opportunity to build on the added resources and client roster contributed by Amdocs. Putting their differences aside, the new deal is a smart move in the long run for both companies, as they prepare for the widespread 5G rolling out phase across Europe and the Middle East.
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