Infobip has announced that it has entered into a definitive agreement with Amdocs to acquire OpenMarket – a mobile messaging solutions company – in a deal worth approximately $300 million. The transaction is expected to close following regulatory approvals.
According to Infobip, this acquisition brings 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,” says Silvio Kutic, 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 adds, “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”.”
The transaction comes just three months after the closing of Infobip’s first institutional investment from One Equity Partners, a private equity firm.