Infobip to Acquire OpenMarket, creating a leading cloud communications player with unparalleled global reach
Accelerates Infobip's path to more than $1 billion in run rate revenue. Combination creates a cloud communications player with unparalleled global reach, enabling more than 14 billion customer interactions every month
JERSEY CITY, N.J. and VODNJAN, Croatia, Nov. 12, 2020 /PRNewswire-PRWeb/ -- Infobip, a global cloud communications company, today announces 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.
About Infobip
Infobip is a global cloud communications platform that enables businesses to build connected customer experiences across all stages of the customer journey at scale, with easy and contextualized interactions over customers' preferred channels. Accessed through a single platform, Infobip's omnichannel engagement, identity, user authentication security and contact center solutions help clients and partners overcome the complexity of consumer communications, grow their business and increase loyalty – all in a fast, secure and reliable way. With over a decade of industry experience, Infobip has expanded to include 65+ offices on six continents offering natively built technology with the capacity to reach over seven billion mobile devices and 'things' in 190+ countries connected directly to over 650 telecom networks. Recently voted best A2P SMS provider for the fourth year running by mobile operators and enterprises in ROCCO's annual Messaging Vendor Benchmarking Report. The company serves and partners with leading mobile operators, messaging apps, banks, social networks, tech companies, and aggregators. Infobip was established in 2006 and is led by its co-founders, CEO Silvio Kutić, Roberto Kutić and Izabel Jelenić.
About OpenMarket
OpenMarket is a leading provider of mobile engagement solutions helping enterprises conduct SMS, MMS, OTT and RCS-based Application-to-Person (A2P) customer communication at scale. OpenMarket has long been a leading player and a pioneer in the United States market. It also boasts a premium brand reputation with carriers and customers alike, and is known for the quality of its service and support to its marquee customer base. The company is headquartered in Seattle, Washington, USA, with offices in Detroit, London, Sydney, Pune, and Guadalajara.
About One Equity Partners
OEP is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 180 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit http://www.oneequity.com.
About Amdocs
Amdocs' purpose is to enrich lives and progress society, using creativity and technology to build a better connected world. Amdocs and its 26,000 employees partner with the leading players in the communications and media industry, enabling next-generation experiences in 85 countries. Our cloud-native, open and dynamic portfolio of digital solutions, platforms and services brings greater choice, faster time to market and flexibility, to better meet the evolving needs of our customers as they drive growth, transform and take their business to the cloud. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.2 billion in fiscal 2020.
Media Contact
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SOURCE Infobip
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