Amdocs Snaps Up Cramer
Billing and CRM giant Amdocs Ltd. (NYSE: DOX) has solidified its relationship with Cramer Systems Ltd. , agreeing to acquire the OSS player for $375 million in cash. (See Amdocs Acquires Cramer.)
The companies recently signed a cooperation agreement that would combine Amdocs's order and service management offerings with the Cramer6 OSS Suite. (See Amdocs, Cramer Get Closer.)
Amdocs has been on a buying spree of late; in April it acquired content download system vendor Qpass for $275 million and bought Danish firm Stibo Graphic Software for an undisclosed sum. (See Amdocs Buys Into Content Delivery.)
The deal follows Cramer's decision to abandon its plans for an IPO, choosing instead to expand beyond its core market of network inventory management. (See Cramer Gets T-Soft, Nixes IPO.)
Amdocs expects to complete the acquisition during this quarter. Shares in the company were down 15 cents (0.44%) to $34.25 in pre-market trading on the NYSE.
Light Reading will follow up on this story shortly.
- Nicole Willing, Reporter, Light Reading