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Amdocs (DOX) Acquires Openet to Strengthen 5G Capabilities
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Amdocs (DOX - Free Report) recently inked a definitive agreement to take over 5G charging, policy and cloud technologies provider — Openet. The integration of Openet would facilitate Amdocs’ service provider clients to accelerate their technological transition in a 5G environment. The deal is valued at $180 million and is expected to be closed by the end of fiscal 2020.
Notably, in the past couple of years, Openet has generated revenues of about $70 million per year. The acquisition is expected to be accretive to Amdocs’ non-GAAP earnings per share from fiscal 2022 onward.
Openet’s advanced, open, cloud-native, architecture-powered 5G products are gaining traction worldwide. In addition to expanding the reach of Amdocs’ managed services business, the amalgamation of Amdocs and Openet’s technologies will enable service providers to maximize their opportunities during the 5G adoption uptrend.
Amdocs has a strong portfolio of managed services and aided notable service provider customers with their technological transformations in the wave of 5G advancements. On Jun 30, the company signed a multi-year managed services deal with CK Hutchison Holdings to enable Three UK to enhance the experience for enterprise customers with new services that can be rolled out and scaled as needed, enabling faster time-to-market. Notably, Three holds more of the U.K.’s leading 5G spectrum than the rest of the industry combined.
Growth areas of AT&T Mobile (T - Free Report) , such as Cricket prepaid in Mexico, saw significant value addition by Amdocs, recently. Deal wins, including the one with Veon and a Tier 1 service provider in Spain, are driving revenues. Extension of Managed Services agreements with several customers, including Vodafone Hungary, and partnerships with Capita plc to provide digital business systems are tailwinds.
Another notable step taken by Amdocs in September last year was the acquisition of TTS Wireless to strengthen capabilities in open cloud and the 5G network.
Long-term earnings growth rate for Dropbox and Asure is currently pegged at 32.51% and 14%, respectively.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
Image: Bigstock
Amdocs (DOX) Acquires Openet to Strengthen 5G Capabilities
Amdocs (DOX - Free Report) recently inked a definitive agreement to take over 5G charging, policy and cloud technologies provider — Openet. The integration of Openet would facilitate Amdocs’ service provider clients to accelerate their technological transition in a 5G environment. The deal is valued at $180 million and is expected to be closed by the end of fiscal 2020.
Notably, in the past couple of years, Openet has generated revenues of about $70 million per year. The acquisition is expected to be accretive to Amdocs’ non-GAAP earnings per share from fiscal 2022 onward.
Openet’s advanced, open, cloud-native, architecture-powered 5G products are gaining traction worldwide. In addition to expanding the reach of Amdocs’ managed services business, the amalgamation of Amdocs and Openet’s technologies will enable service providers to maximize their opportunities during the 5G adoption uptrend.
Amdocs Limited Price and Consensus
Amdocs Limited price-consensus-chart | Amdocs Limited Quote
Efforts to Aid Service Providers
Amdocs has a strong portfolio of managed services and aided notable service provider customers with their technological transformations in the wave of 5G advancements. On Jun 30, the company signed a multi-year managed services deal with CK Hutchison Holdings to enable Three UK to enhance the experience for enterprise customers with new services that can be rolled out and scaled as needed, enabling faster time-to-market. Notably, Three holds more of the U.K.’s leading 5G spectrum than the rest of the industry combined.
Growth areas of AT&T Mobile (T - Free Report) , such as Cricket prepaid in Mexico, saw significant value addition by Amdocs, recently. Deal wins, including the one with Veon and a Tier 1 service provider in Spain, are driving revenues. Extension of Managed Services agreements with several customers, including Vodafone Hungary, and partnerships with Capita plc to provide digital business systems are tailwinds.
Another notable step taken by Amdocs in September last year was the acquisition of TTS Wireless to strengthen capabilities in open cloud and the 5G network.
Zacks Rank and Stocks to Consider
Amdocs currently has a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the broader technology sector are Dropbox, Inc. (DBX - Free Report) and Asure Software Inc (ASUR - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Dropbox and Asure is currently pegged at 32.51% and 14%, respectively.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
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