Home » Israeli-founded Amdocs to buy UK software company in bid to bolster 5G capabilities

Israeli-founded Amdocs to buy UK software company in bid to bolster 5G capabilities

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Amdocs, an Israeli-founded multinational software and telecommunications company, plans to acquire a UK software company for about $ 188 million to enhance 5G capabilities, the company said Wednesday.

Amdocs said it has reached a final agreement to purchase MYCOMOSI, which is headquartered in London and provides software-based cloud networks and service assurance solutions to global telecommunications service providers. According to the company, the acquisition will expand its network portfolio and “include end-to-end services and network orchestration by providing key assurance capabilities to enhance next-generation networks.” … apparently …

5G, the fifth-generation technology standard for wireless networks, promises significant improvements in Internet speeds (at least 10 times faster than the 4Gs currently used in Israel), as well as better coverage and responsiveness. Countries around the world have begun deploying 5G in 2019.Israel Start deployment In 2020, but still late.

Amdocs was co-founded in 1982 by Boaz Dotan and South Africa-Israel billionaire and philanthropist Morris Kahn to develop a billing software platform and later move to software services for telecommunications providers, media companies, financial and digital companies. .. The company is currently headquartered in Missouri and employs approximately 30,000 people worldwide. Amdocs, a publicly traded company in Nasdaq, generated $ 4.3 billion in fiscal year 2021.

Founded in 1989, MYCOMOSI now offers cloud-based software services, multinational wireless and transmission service providers. In recent years, we have begun offering 5G warranty applications and cloud-native solutions to customers who have introduced 5G networks, providing “cloud benefits such as scalability, cost, and reliability” and supporting hybrid systems. I am. The company has offices in the United States, France, United Arab Emirates, India and Singapore.

Shuky Sheffer, Amdocs President and Chief Executive Officer, said the acquisition is a “strategic growth move” based on Amdocs’ “core strategic pillars of intelligent network automation, 5G, cloud.” rice field.

Amdocs CEO Shuky Sheffer. (Amdocs)

“As networks and services in the 5G era become more dynamic and complex, a holistic, end-to-end approach is important and can only be achieved with a powerful AI-assisted warranty solution suite, which is why it is so talented. We are very pleased to welcome the dedicated MY COMOSI team to Amdocs, “Shepher said in a company statement.

“We are excited to embark on the next chapter,” said Andrew Coll, CEO of MYCOMOSI, as part of Amdocs, “combining our integrated expertise under one roof.” I did.

“In an era of rapid transformation of the telecommunications sector, we combine scale and deep domain expertise to help service providers deploy 5G networks and services on a large scale, including closed-loop automation. A wide range of complementary and innovative solutions are created, “Kol said.

Amdocs said the board approved the transaction for about $ 188 million in cash. The transaction is expected to close later this year.

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