Business News
Amdocs Completes Acquisition of ChangingWorlds
Tuesday 09. December 2008 - Amdocs (NYSE:DOX), the leading provider of customer experience systems, today announced it has completed the acquisition of Changing Worlds Ltd. ("ChangingWorlds"), a provider of personalization and intelligent portal solutions for mobile service providers.
Amdocs acquired all of ChangingWorlds’ shares for $60 million in cash, net of cash on hand, subject to post-closing adjustments. Additional consideration may be paid later based on the achievement of certain performance metrics.
ChangingWorlds provides sophisticated profiling and personalization capabilities for the mobile Internet. Amdocs intends to expand the use of this technology to three screens (mobile, PC and television), and will also leverage its existing digital content and commerce offerings to enable service providers to support new revenue engines. In addition, Amdocs will continue to invest in ChangingWorlds’ technology to extend it across the Amdocs CES portfolio, bringing greater personalization to a variety of customer-facing business processes and touch points.
ChangingWorlds’ customers include Sprint, Vodafone Global, the O2 Group, CSL Hong Kong, FarEasTone Taiwan and Celcom Malaysia. Telefonica O2 Czech Republic recently selected ChangingWorlds to deliver a personalized mobile Internet service; Telefonica O2 is a longstanding customer with deployments at both O2 UK and O2 Germany.
In November, ChangingWorlds was awarded ‘Company of the Year’ by the Irish Software Association and was recognized for its pioneering work in the field of Mobile Internet Personalization solutions.
The impact of the acquisition on Amdocs’ non-GAAP earnings per share is expected to be neutral in fiscal 2009. The impact on GAAP results will be finalized after Amdocs completes the purchase price accounting for the acquisition. Amdocs may incur a one-time acquisition-related expense in the quarter ending December 31, 2008 to account for certain costs related to the acquisition.