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Stock Market & Financial Investment News

News Breaks
June 24, 2014
07:06 EDTCNSIUnited Telecommunication Services awarded contract to Comverse
Comverse announced that United Telecommunication Services selected Comverse for a multi-year managed services contract to provide operations and application support services and maintenance for UTS's billing and active customer care solution. In the framework of the agreement, Comverse will provide a range of Managed Services. The onsite lineup will include a team to handle all aspects of the product catalog, workflow, ordering and billing components and more.
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July 2, 2015
16:08 EDTCNSIAmdocs sees Comverse BSS assets acquisition neutral to EPS in first year
Amdocs announced that it has completed the acquisition of a substantial majority of Comverse's business support systems, or BSS, business unit assets, for approximately $273M in cash, including its converged, prepaid, postpaid and Kenan billing assets. The acquisition geographically complements Amdocs' existing activities by expanding and diversifying the company's global customer base, particularly in Europe, Asia-Pacific and Latin America, where Comverse has a wide BSS customer footprint. Consistent with guidance provided on April 29, Amdocs expects the acquisition of the Comverse BSS assets to contribute revenue in the low tens of millions of dollars for the first couple of quarters after closing. The impact of the acquisition on Amdocs' diluted non-GAAP EPS is expected to be neutral in the first year after closing and accretive thereafter. The impact on diluted GAAP EPS will be finalized after Amdocs completes the purchase price allocation. Amdocs expects to incur acquisition-related expenses related to operating adjustments, restructuring charges and other acquisition-related costs.

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