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Amdocs Acquires TTS Wireless to further Expand 5G Capabilities
Globe Newswire 7-Aug-2019 4:06 PM
ST. LOUIS, Aug. 07, 2019 (GLOBE NEWSWIRE) -- Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today announced it has acquired TTS Wireless, a privately-owned provider of mobile network engineering services, specializing in network optimization, planning, and software-enabled solutions. The two companies are excited by the acquisition, which will enable the combination of TTS Wireless' field-proven services at leading operators with the Amdocs Open 5G portfolio. This expanded offering will help operators accelerate and simplify deployment of 5G networks with comprehensive network rollout solutions.
"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," said Shuky Sheffer, President and Chief Executive Officer of Amdocs Management Limited. "At the same time, service providers also need to reduce cost through automated operations, and smart network planning and optimization. The addition of TTS Wireless' extensive network engineering services to the Amdocs Open 5G portfolio provides a compelling offering and highlights our commitment to be the leading independent provider of network services for 5G and the new generation of open cloud networks. This move will also enable operators around the world to benefit from the early 5G adoption experiences TTS Wireless has gained at leading carriers."
"For over twenty years TTS Wireless has been successfully working with leading American operators," said Lin Weng, TTS Wireless founder and Chief Executive Officer. "Together, TTS Wireless and Amdocs are well positioned to help operators accelerate their 5G journey with our expertise and experience in customer-focused design, delivery and optimization of mobile networks. With our highly-skilled network engineering and software development team joining forces with Amdocs, together we will strengthen the scope and scale of our offerings as we continue to deliver differentiated network services to Amdocs' global base of service provider customers."
The impact of the acquisition on Amdocs' diluted non-GAAP earnings per share is expected to be neutral in fiscal year 2019, and neutral in the first full year after closing. The impact on diluted GAAP EPS will not be known until after Amdocs completes the purchase price allocation. The Boards of Directors of TTS Wireless and Amdocs have approved the transaction for approximately $50 million in cash. Additional consideration may be paid later based on the achievement of certain performance metrics.
Amdocs is a leading software and services provider to communications and media companies of all sizes, accelerating the industry's dynamic and continuous digital transformation. With a rich set of innovative solutions, long-term business relationships with 350 communications and media providers, and technology and distribution ties to 600 content creators, Amdocs delivers business improvements to drive growth. Amdocs and its 25,000 employees serve customers in over 85 countries. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.0 billion in fiscal 2018. For more information, visit Amdocs at www.amdocs.com
About TTS Wireless
Headquartered in Pleasanton, California, TTS Wireless meets the demands of 5G rollouts, existing LTE and 3G networks, with innovative products and processes. TTS Wireless provides operators and vendors with packages, turn-key solutions and expert services to improve network quality and the wireless customer experience. Read more at www.ttswireless.com
Amdocs' Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2018 filed on December 10, 2018 and our quarterly 6-K form furnished on February 19 and May 28, 2019.
