Two years after their heated legal dispute, the telecom software company Amdocs has ended the litigation by finally licensing a number of Openet patents. As the telecommunications sector has been trending towards digital transformation for some time now, the merger between the two companies will provide exceptional and wide-ranging opportunities for both enterprises.
In recent years, the Ireland-based company, Openet, developed modern cloud-based software and 5G products that are recognised around the world for their innovation. The amalgamation of the two companies is said to offer Amdocs‘s customers advances in 5G technologies, cloud, edge computing and Internet of Things (IoT), as well as an elevated customer experience, policy and data management expertise.
Shuky Sheffer, CEO of Amdocs Management, commented: “We are delighted the innovative Openet team is joining Amdocs. The Openet solutions complement our portfolio and this acquisition is part of our mission to accelerate the industry’s move to the cloud.”
“We are excited to join Amdocs, with whom we have been alongside customers for many years, and help bring fast value to service providers’ 5G plans. It is truly a momentous day for Openet and for all of our stakeholders,” said the Openet CEO, Niall Norton.
Taking into account the history between the companies, this is quite an unusual procurement. Notably, neither of the companies commented on their legal dispute. The Boards of Directors of Openet and Amdocs have approved the approximately $180 million cash transaction, which is expected to be completed by the end of the fourth quarter of 2020. Although Openet struggled a few years ago and allegedly had limited profitability, they did well to receive $180 million, plus debt.