Amdocs buys TTS Wireless for $50m

Amdocs CEO Shuky Sheffer Photo: PR

Amdocs reported the acquisition along with financial results showing increased revenue and profit.

Israeli software and services to communications and media companies provider Amdocs Ltd. (NYSE: DOX) has announced it has acquired TTS Wireless for $50 million. TTS Wireless provides mobile network engineering services, specializing in network optimization, planning, and software-enabled solutions.

The merger will enable the combination of TTS Wireless’ field-proven services at leading operators with the Amdocs Open 5G portfolio and help operators accelerate and simplify deployment of 5G networks with comprehensive network rollout solutions.

Amdocs president and CEO Shuky Sheffer said, “This acquisition helps execute on Amdocs’ strategy of providing our customers around the world with an end-to-end 5G solution, so they can efficiently accelerate their plans to launch 5G networks, rapidly deploy the innovative new services this new technology enables, and benefit from new monetization models,”

Amdocs also reported its financial results for the US third fiscal quarter. Revenue $1.025 billion, up 2.2% from the corresponding quarter of 2019. GAAP net profit for the third quarter of fiscal 2019 was $131.4 million ($0.96 per share) compared with $91.5 million ($0.64 per share) in the prior fiscal year’s third quarter. Non-GAAP net profit was $163.1 million ($1.19 per share) compared with $147.5 million $1.03 per share) in the corresponding quarter of fiscal 2018.

Published by Globes, Israel business news - en.globes.co.il - on August 8, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Amdocs CEO Shuky Sheffer Photo: PR
Amdocs CEO Shuky Sheffer Photo: PR
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