Amdocs Enters Partnership for the Purchase of the Land for its Future Campus in Israel
Summary
ST. LOUIS, Dec. 06, 2017 (GLOBE NEWSWIRE) -- Amdocs (NASDAQ: DOX ), a leading provider of software and services to communications and media companies, today announced it has signed an agreement with Union Group to partner for the purchase of the land 1 for its future campus in Ra’anana, Israel.Union Group, privately-held, is active in various business domains, with vast experience in developing and operating real-estate properties in Israel and abroad.The new campus will provide an advanced, optimal working environment that can fully meet the needs of Amdocs Israel and its employees, and support the company’s future growth.Beyond fiscal 2018, as a general long-term guideline consistent with our prior messages, Amdocs expects to return a majority of free cash flow to shareholders after adjusting for the investment in the campus, subject to factors such as the outlook for M&A, financial markets and prevailing industry conditions.As our customers reinvent themselves, we enable their digital and network transformation through innovative solutions, delivery expertise and intelligent operations.
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