Amdocs (DOX - Free Report) recently announced that it is joining forces with cyber-security solutions provider Fortinet (FTNT - Free Report) and software solution provider Versa Networks to develop a multi-domain orchestration solution.
Amdocs NFV (Network Function Virtualization) orchestration solution will include Fortinet Security Fabric and Versa Networks’ SD-WAN platform, allowing service providers to enable enterprise customers to securely spin up and spin down virtual network functions across customer premises, data centers and the cloud. With this solution, service providers can quickly roll out and monetize their managed SD-WAN and security services, while reducing costs.
With the partnership, Amdocs and its partners aim to transform service providers from the currently available proprietary hardware networks to open software-centric networks that take maximum advantage of cloud and IT technologies.
Amdocs Strengthens Position in NFV Market
The company’s NFV area is witnessing positive developments, which will ultimately aid its growth. Amdocs recently signed a deal with Comcast (CMCSA - Free Report) on the latter’s SD-WAN offering, which will leverage its leading energy portfolio, bringing orchestration, fulfilment and automation capabilities to service providers.
The numbers of global service providers that are evaluating NFV are also on the rise. Per Global Market Insights, the NFV market is projected to surpass a valuation of $70 billion by 2024.
Moreover, MarketsandMarkets forecast for the global Software Defined Networking market says that it is expected to witness a CAGR of 71.4% by 2022. Amdocs’ constant efforts to enhance its capabilities on this front is likely to help it cash in on this opportunity.
Strategic Partnerships Drive Growth
Amdocs continues to expand its global client base by signing long-term contracts and collaborating with major industry players worldwide. The company’s key transformation projects include those with global service providers like T-Mobile (TMUS - Free Report) , Altice and DISH in North America; British Telecom, Orange in Europe; América Móvil, Airtel, Telefónica, SingTel and Globe in the rest of the world.
During its last reported quarter, the company rolled out automated operation capabilities for Vodafone India. It also partnered with Telstra in Australia over next generation OSS platform for its B2B line of business.
Amdocs’ recent partnership with Amazon Web Service to deliver cloud-based omni-channel routing and interaction management for Globe Telecom in the Philippines reflects its domain expertise necessary to move communication in media companies into the cloud environment. Such deals are expected to boost the company’s top line.
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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