• by Ray Schultz , November 13, 2020

Cloud communications company Infobip has inked a deal with Amdocs Inc. to acquire Open Market, a mobile messaging solutions provider, for a gross cash amount of roughly $300 million, Infobip announced on Friday.  

Subject to regulatory approval, the transaction is “a significant leap forward in our journey towards exponential growth,” states Silvio Kutic, co-founder and CEO of Infobip. 

The combined companies will have 10,000 customers, with connectivity to 650 mobile operators, and a combined revenue run rate of more than $1 billion, Infobip claims. 

In addition, the purchase combines OpenMarket’s scale in the U.S. with Infobip’s strengths outside the country, it says.  

The firms will process more than 14 billion monthly customer interactions across all communication channels, the firm adds.