Accelerates Infobip's path to more than $1 billion in run rate revenue
Combination creates a cloud communications player with unparalleled global reach, enabling more than 14 billion customer interactions every month
Infobip, a global cloud communications company, today announces that it has entered into a definitive agreement with Amdocs Inc. (NasdaqGS: DOX) to acquire OpenMarket, a leading provider of mobile messaging solutions to enterprises, for a gross cash amount of approximately $300 million. The transaction is expected to close following the receipt of customary regulatory approvals.
This combination brings together two world-class companies to form a leading global player in cloud communications, with combined revenue run-rate of more than $1 billion. It will bring together complementary regional footprints, merging OpenMarket's scale in the US with Infobip's strengths outside the US to process more than 14 billion monthly customer interactions across the full range of communication channels, in more than 190 countries around the globe.
"This transaction marks a significant leap forward in our journey towards exponential growth," said Silvio Kutic.Co-Founder and CEO of Infobip, "Combined, Infobip and OpenMarket have some 10,000 customers, including many of the world's leading enterprises. We will now be better able to meet the customers' needs in every region, with best-in-class direct connectivity to more than 650 mobile operators and a best-in-class combined portfolio of cloud-based messaging and SaaS offerings."
Kutic added: "I'm thrilled that the OpenMarket team will become part of our Infobip family: they've built a great and rapidly-growing business, but we also know we all share a common vision and values. It's a truly exciting time for us all in both companies–and, as we say at Infobip, "we are just starting".
"We are excited to join forces with the Infobip team to offer an even better value proposition to our customers at this exciting time", said Jonathan Morgan, CEO of OpenMarket. "I want to thank Amdocs for its support of OpenMarket over many years, and for recognizing the extraordinary potential of this strategic combination".
The transaction comes just three months after the closing of Infobip's first institutional investment from One Equity Partners, a private equity firm with a long and proven track record partnering with visionary founders of high-quality, high-growth global telecom and enterprise software businesses. One Equity Partners worked closely with its partners at Infobip on the sourcing and the execution of this transformative transaction.
Infobip is a global cloud communications platform that enables businesses to build connected customer experiences across all stages of the customer journey at scale, with easy and contextualized interactions over customers’ preferred channels. Accessed through a single platform, Infobip’s omnichannel engagement, identity, user authentication security and contact center solutions help clients and partners overcome the complexity of consumer communications, grow their business and increase loyalty– all in a fast, secure and reliable way.
About OpenMarket
OpenMarket is a leading provider of mobile engagement solutions helping enterprises conduct SMS, MMS, OTT and RCS-based Application-to-Person (A2P) customer communication at scale. OpenMarket has long been a leading player and a pioneer in the United States market. It also boasts a premium brand reputation with carriers and customers alike, and is known for the quality of its service and support to its marquee customer base. The company is headquartered in Seattle, Washington, USA, with offices in Detroit, London, Sydney, Pune, and Guadalajara.