May 11, 2023
JERSEY CITY, NJ – Amdocs (NASDAQ: DOX), a leading provider of software and services to communications and media companies, today announced that it has entered into a definitive agreement to acquire the service assurance business of TEOCO. The acquisition will enable Amdocs to provide service providers with a unique end-to-end service orchestration offering, assuring the quality of service and enabling the monetization of next generation dynamic customer experiences.
Amdocs is acquiring the service assurance business of TEOCO for a consideration of approximately $90 million in cash, subject to the satisfaction of the conditions to closing. Additional consideration may be paid later based on the achievement of certain performance metrics. Revenue from TEOCO is expected to be immaterial in fiscal 2023 and expected to add approximately 0.5% to total revenue in fiscal year 2024.
The impact of the acquisition on Amdocs’ non-GAAP diluted earnings per share is expected to be neutral in the full fiscal years 2023 and 2024. Non-GAAP diluted earnings per share excludes amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisitions related liabilities measured at fair value, restructuring charges, equity-based compensation expenses and other, net of related tax effects.
Read the full press release here.
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