Global cloud communications company Infobip has entered into a definitive agreement with Amdocs to acquire OpenMarket, a provider of mobile messaging solutions to enterprises, for a gross cash amount of approximately $300-million.
This combination 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,” says 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 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’.”
“We are excited to join forces with the Infobip team to offer an even better value proposition to our customers at this exciting time,” says 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 private equity firm One Equity Partners.