Croatian IT company Infobip has agreed to take over US-based OpenMarket from Amdocs for around $300mn, Infobip announced on November 11.
Through the acquisition of OpenMarket, a B2B provider of mobile messaging solutions, Infobip aims to create a global leader in the field of cloud communication.
It will enable over 14bn user interactions a month through various communication channels in more than 190 countries.
The deal will accelerate Infobip’s growth and achieve a combined revenue run rate of over $1bn, the company said. “This transaction marks a significant leap forward in our journey towards exponential growth. Combined, Infobip and OpenMarket have some 10,000 customers, including many of the world’s leading enterprises,” according to Infobip’s CEO Silvio Kutic.
Infobip agreed to acquire the company shortly after receiving a “significant investment” from One Equity Partners, its first foreign investment. One Equity Partners was closely involved in sourcing and carrying out the OpenMarket deal.
The transaction is subject to regulatory approval.