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Amdocs (DOX) to Modernize Fastweb's IT Systems to Suit 5G Era

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Amdocs (DOX - Free Report) recently announced the addition of leading Italian telecommunications company — Fastweb — to its roster of clients. Notably, Amdocs will aid the IT transformation of Fastweb by modernizing its mission-critical inventory systems.

Amdocs will accelerate Fastweb’s initiative to transform its systems into a 5G-ready platform by enabling operational efficiencies for 5G and Fastweb Cloud Services.

Additionally, Fastweb will be able to upgrade its Network Inventory to the next-generation OSS solution.

Amdocs’ efforts to strengthen its 5G capabilities are noteworthy. Notably, its acquisition of Openet last year facilitated its service provider clients to accelerate their technological transition in a 5G environment.

Moreover, as communication service providers across the world are increasingly focusing on digitally transforming their businesses to cash in on the opportunities provided by 5G and cloud, Amdocs continues to expand its global client base by signing long-term contracts and collaborating with major telecom industry players worldwide. In fiscal 2020, Amdocs reported a 12-month backlog of $3.62 billion. These include key transformations projects with global service providers such as Comcast (CMCSA - Free Report) , T-Mobile (TMUS - Free Report) , Altice (ATUS - Free Report) and DISH in North America; Vodafone British Telecom and Orange in Europe; and AméricaMóvil, Airtel, Telefónica, Telstra, SingTel and Globe in the rest of the world.

Notably, growth areas within AT&T Mobile, 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 revenue growth. Extension of managed services agreements with several customers, including Vodafone Hungary, and partnerships with Capita plc to provide digital business systems are tailwinds.

Such deals are expected to keep driving the company’s top-line growth.

Amdocs currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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