Amdocs International, a private company owned by Maurice Kahan, last night announced its intention of selling Amdocs shares worth $0.5 billion. This is a second tender offer within four months, bringing Kahan's total disposals to $900 million, without taking into account his share in the $480 million dividend distributed by the company before it went public last year.
At the same time, Admocs announced an agreement for the purchase of ITDS, which, like Amdocs, engages in the supply of software and hardware solutions for billing, collection and service applications for the customers of telephony and cellular telephony companies. The value of the deal in Amdocs shares comes to $182 million, a 30% premium compared to the value of ITDS on the US stock exchange, which is $140 million.
In the past four quarters, the Canadian company has posted sale of $130 million, and a net profit of $14.6 million.
Amdocs, world leader in billing and collection systems market, is trading on Wall Street at a value of $5.4 billion, after being issued last year at a value of $3 billion.
Published by Israel's Business Arena September 7, 1999