Infobip, a global cloud communications company, announced that it has entered into a definitive agreement with Amdocs Inc. (NasdaqGS: DOX) to acquire OpenMarket, a leading provider of mobile messaging solutions to enterprises, for a gross cash amount of approximately $300 million. The transaction is expected to close following the receipt of customary regulatory approvals.
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. It 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 globe.
“This transaction marks a significant leap forward in our journey towards exponential growth,” said Silvio Kutic. Co-Founder and CEO of Infobip, “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.”
Kutic added: “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”.”
“We are excited to join forces with the Infobip team to offer an even better value proposition to our customers at this exciting time”, said Jonathan Morgan, CEO of OpenMarket. “I want to thank Amdocs for its support of OpenMarket over many years, and for recognizing the extraordinary potential of this strategic combination”.
The transaction comes just three months after the closing of Infobip’s first institutional investment from One Equity Partners, a private equity firm with a long and proven track record partnering with visionary founders of high-quality, high-growth global telecom and enterprise software businesses. One Equity Partners worked closely with its partners at Infobip on the sourcing and the execution of this transformative transaction.