Mergers and Acquistions News
Categories: Telecoms
March 24th 2010, 16:56PM
Customer experience systems provider Amdocs has acquired MX Telecom, a mobile payments and messaging aggregator with operations in three continents.
The acquisition was made for approximately $104 million (£70 million) in cash and was announced at the International CITA Wireless 2010.
Following the deal, MX Telecom will become part of Amdocs' OpenMarket business, the company's mobile transaction hub, accelerating OpenMarket's plans for global expansion into key markets.
The joint business will provide a hosted platform to extend mobile payment and messaging capabilities through an integrated network.
"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," commented Jay Emmet, general manager of OpenMarket.
Belgian company Telenet, which provides broadband cable television, telephony and internet services, recently selected Amdocs' Enterprise Product Catalogue to unify product data management across its various lines of business.
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