Openet telecoms software solutions provider was launched in 1999 by Joe Hogan. It has 580 employees with 200 of them based in Dublin. Chief executive Niall Norton said: This firm offers software solutions that help service providers create new revenue and enhance consumer engagement. Recently, Openet has become a leader in 5G charging and policy cloud-based technologies. It serves many notable clients including Sprint, T-Mobile, Vodafone, BT, and Eir. Before this takeover, Openet ranked as one of the largest privately-owned software firms operating in the Republic. It reported revenues of around $70 million and has operational offices in Brazil, Malaysia, and the US. The company’s chief technology officer, Mr. Hogan, commented: In recent years, the company has managed to create new 5G products. These products are recognized throughout the world for their ingenious innovations and modern open, cloud-native architecture. Mr. Hogan said that the team at Openet looks forward to the enhanced technology strengths of Amdocs. The takeover might create several new channels for service providers in this era of 5G adoption.
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Amdocs said that it will pay $180 million in cash for the takeover with the deal expected to reach completion before the end of 2020. The effect of the buyout on Amdocs’ non-GAAP diluted earnings per share might remain neutral in the whole 2020 and 2021 fiscal years. But, it will become accretive thereafter. Two years ago, Amdocs agreed to license several patents to Openet as part of a settlement. The case started in 2010 when the company launched court action in the United States claiming that the Dublin-based firm had infringed its patents. Openet relentlessly defended that allegation. Shuky Sheffer, Amdoc’s president and chief executive, commented: The Nasdaq-listed Amdocs has 25,000 workers globally with 100 of them based in Dublin. It reported a revenue of $4.1 billion in 2019. This Openet deal is its third acquisition after acquiring ChangingWorlds in 2008 and billing software start-up Brite:Bill in 2016.
