- Global cloud communications company Infobip recently announced it entered into a definitive agreement with Amdocs Inc. (NasdaqGS: DOX) to buy enterprise mobile messaging solutions company OpenMarket for a gross cash amount of approximately $300 million
Global cloud communications company Infobip recently announced it entered into a definitive agreement with Amdocs Inc. (NasdaqGS: DOX) to buy enterprise mobile messaging solutions company OpenMarket for a gross cash amount of approximately $300 million. The deal is expected to close following the receipt of customary regulatory approvals.
This deal combines two world-class companies to form a leading global player in cloud communications with combined revenue run rate of more than $1 billion. And this deal brings together complementary regional footprints, merging OpenMarket’s scale in the US with Infobip’s strengths outside the US to process over 14 billion monthly customer interactions across the full range of communication channels in more than 190 countries around the globe.
The deal comes just three months after the closing of Infobip’s first institutional investment from One Equity Partners. One Equity Partners worked closely with its partners at Infobip for the sourcing and the execution of this transformative transaction.
“This transaction marks a significant leap forward in our journey towards exponential growth. Combined, Infobip and OpenMarket have some 10,000 customers, including many of the world’s leading enterprises. We will now be better able to meet the customers’ needs in every region, with best-in-class direct connectivity to more than 650 mobile operators and a best-in-class combined portfolio of cloud-based messaging and SaaS offerings.”
“I’m thrilled that the OpenMarket team will become part of our Infobip family: they’ve built a great and rapidly-growing business, but we also know we all share a common vision and values. It’s a truly exciting time for us all in both companies – and, as we say at Infobip, ‘we are just starting.’”
— Silvio Kutic. Co-Founder and CEO of Infobip
“We are excited to join forces with the Infobip team to offer an even better value proposition to our customers at this exciting time. I want to thank Amdocs for its support of OpenMarket over many years, and for recognizing the extraordinary potential of this strategic combination.”
— Jonathan Morgan, CEO of OpenMarket