Amdocs Buys MX Telecom

MX Telecom is a leading mobile payments and messaging aggregator with operations in Europe, United States, and Australia

March 23, 2010

1 Min Read

ST. LOUIS and LAS VEGAS -- Amdocs (NYSE: DOX), the leading provider of customer experience systems, today announced that it has acquired MX Telecom Ltd. MX Telecom is a leading mobile payments and messaging aggregator with operations in Europe, United States and Australia. Under the terms of the agreement, Amdocs has acquired MX Telecom for approximately $104 million USD in cash, net of debt and cash. This announcement was made at International CTIA Wireless 2010 taking place this week.

MX Telecom will become part of Amdocs’ OpenMarket, a business of Amdocs that operates a market leading mobile transaction hub. The acquisition accelerates OpenMarket’s plans for global expansion into key markets. The joint OpenMarket MX Telecom business will provide a hosted platform to extend mobile payment and messaging capabilities through an integrated network and product portfolio.

Jay Emmet, General Manager of OpenMarket, said, “This strategic acquisition expands OpenMarket’s global footprint and substantially increases our market leadership in the rapidly growing mobile payments market that will extend well beyond messaging in the coming years. In addition, it strengthens our product portfolio with an extensive set of value-added services for merchants.”

Amdocs Ltd. (NYSE: DOX)

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