Amdocs Buying Comverse BSS Unit

Amdocs (NASDAQ:DOX) has entered into a definitive agreement to acquire a substantial majority of Comverse's business support systems (BSS) business unit assets for approximately $272 million in cash, subject to customary closing conditions. The boards of directors of both companies have approved the transaction, which is expected to be completed before end of September.

Amdocs is will continue to maintain and support Comverse BSS customers around the world. The acquisition is intended to geographically expand and diversify Amdocs' global customer base, particularly in Asia Pacific, Latin America and Europe, and including Europe's cable and satellite market. Publicly traded Comverse will continue to exist as a separate company, with a focus on expanding its global market in digital services.