November 12 (SeeNews) - Croatia's leading software company and global cloud communications provider Infobip said it signed a definite agreement with US firm Amdocs to acquire mobile messaging solutions provider OpenMarket for a gross cash amount of some $300 million (254 million euro).
"This combination brings together two world-class companies to form a leading global player in cloud communications, with combined revenue runrate of more than $1 billion," Infobip said in a statement on Wednesday.
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The transaction will bring together complementary regional footprints, merging OpenMarket’s scale in the US with Infobip’s strengths outside the US to process more than 14 billion monthly customer interactions across the full range of communication channels, in more than 190 countries around the world, it added.
The closing of the transaction is subject to customary regulatory approvals.
The deal takes place just three months after Infobip closed its first institutional investment coming from private equity fund One Equity Partners and aimed at helping the Croatian company grow in North America.
"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," Infobip co-founder and CEO, Silvio Kutic, said in the statement.
Infobip serves and partners with leading mobile operators, messaging apps, banks, social networks, tech companies, and aggregators. Established in 2006, it has expanded to include over 65 offices on six continents, with the capacity to reach more than seven billion mobile devices and ‘things’ in more than 190 countries connected directly to over 650 telecom networks.
OpenMarket provides mobile engagement solutions helping enterprises conduct SMS, MMS, OTT and RCS-based Application-to-Person (A2P) customer communication at scale. Outside the United States, the company has offices in London, Sydney, Pune, and Guadalajara.
Amdocs has 26,000 employees, providing cloud-native, open and dynamic portfolio of digital solutions, platforms and services, and helping customers to transform their business and take it to the cloud. It partners with communications and media industry firms from 85 countries.
($=0.845930 euro)