Amdocs, a provider of customer experience systems, today announced that it has acquired MX Telecom Ltd. MX Telecom is a 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.
MX Telecom will become part of Amdocs' OpenMarket, a business of Amdocs that operates a mobile transaction hub, and the acquisition is said to accelerate 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."
Alex Moir, Managing Director of MX Telecom, stated, "We are delighted to be joining forces with OpenMarket. OpenMarket's mobile payments platform is highly synergistic with MX Telecom. This acquisition will enable the combined organization to better serve our customers and accelerate our global growth plans. Our employees are proud of what MX Telecom has accomplished, and we look forward to continuing to shape the industry as part of the OpenMarket team."
Brian Shepherd, President of Amdocs Interactive, stated, "Amdocs is committed to the OpenMarket business and its global expansion. Amdocs' deep relationships with service providers around the world, combined with the OpenMarket MX Telecom mobile transaction platform, have the power to transform the mobile services industry. As a hosted distribution channel for mobile services, OpenMarket enables service providers to efficiently use this channel to monetize emerging mobile services to brands, marketers, enterprises, and digital content providers."