Amdocs has entered into a definitive agreement to acquire a substantial majority of Comverse’s business support systems (BSS) business unit assets for approximately $272 million in cash, subject to customary closing conditions. The Boards of Directors of Comverse and Amdocs have approved the transaction which, subject to the satisfaction of the conditions to closing, is expected to be completed before the end of September 2015.
“With Amdocs’ broad range of products and services, this agreement will only serve to benefit existing Comverse BSS customers. Customers should feel assured by Amdocs’ experience with smoothly integrating acquisitions and their commitment to maintaining and growing relationships,” said Philippe Tartavull, President & Chief Executive Officer, Comverse.
“As a result of this acquisition, Amdocs, with its more than 30-year industry experience, will be able to bring additional value and innovation to Comverse’s customers. As we move forward, the strength of our company and unique business model which combines products and services will enable Amdocs to offer even better services to customers as we leverage our joint professional industry expertise for the benefit of our customers,” said Eli Gelman, President & CEO, Amdocs Management Limited.