Amdocs Completes Acquisition of Openet to Accelerate the Pace of Taking the Communications Industry to the Cloud and Help Service Providers Differentiate in the 5G Era

ST. LOUIS, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Amdocs DOX, a leading provider of software and services to communications and media companies, today announced that it has completed the acquisition of Openet, a world-leading provider of 5G charging, policy and cloud technologies. This acquisition brings together Openet's open and network-centric technologies with Amdocs' 350+ service provider customers worldwide, helping them to succeed in the wave of 5G advancements around cloud, edge compute, IoT and new customer experiences.

"We are delighted to welcome Openet and its customers to Amdocs and look forward to working together to bring world-class cloud-native capabilities, network pedigree, and deep 5G charging, policy and data management expertise to service providers around the world," said Anthony Goonetilleke, group president of Media, Network and Technology, Amdocs. "With this acquisition, Amdocs stands ready to help services providers future-proof their business as they move into edge compute and 5G and accelerate their cloud journey and operational agility."

As we previously indicated, the impact of the acquisition on Amdocs' non-GAAP diluted earnings per share is expected to be neutral in the full fiscal years 2020 and 2021, and accretive thereafter. Non-GAAP diluted earnings per share excludes amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisition related liabilities measured at fair value and equity-based compensation expenses, net of related tax effects. The impact on GAAP diluted EPS will not be known until after Amdocs completes the purchase price allocation.

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About Amdocs

Amdocs' purpose is to enrich lives and progress society, using creativity and technology to build a better connected world. Amdocs and its 25,000 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 $4.1 billion in fiscal 2019. For more information, visit Amdocs at www.amdocs.com.

Amdocs' Forward-Looking Statement

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, the duration and severity of the COVID-19 pandemic, and its impact on the global economy, Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses including Openet, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market.  Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2019 filed on December 16, 2019 and our quarterly Form 6-K furnished for the first quarter of fiscal 2020 on February 18, 2020 the second quarter of fiscal 2020 on May 18, 2020 and the third quarter of fiscal 2020 on August 5, 2020.

Media Contacts:

Matthew Smith
Head of Investor Relations
Amdocs
Tel: +1 (314) 212-8328
E-mail: dox_info@amdocs.com

Linda Horiuchi
Head of Public Relations
Amdocs
Tel: +1 (646) 581-2568
E-mail: linda.horiuchi@amdocs.com