UK premium messaging specialist now part of Amdocs' OpenMarket unit
Mobile transaction giant Amdocs has acquired UK-based MX Telecom for $104 million in cash, net of debt and cash.
MX Telecom will become part of Amdocs' OpenMarket unit, which operates the company's mobile transaction hub offering.
Amdocs says the acquisition accelerates its plans to drive OpenMarket's 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."
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