Israeli-Founded Firm Amdocs To Acquire UK Company MYCOM OSI
Israeli-founded software and sevices provider Amdocs announced on Wednesday that it has entered into an agreement to acquire MYCOM OSI, a UK-based company providing SaaS-based cloud network and service assurance solutions firm to boost its 5G potential.
Amdocs will acquire the company for $188 million in cash, subject to closing conditions, the company said. Their Board of Directors improved the transaction. It is expected to occur in the fourth quarter of 2022.
The acquisition will expand Amdocs’ network portfolio to include end-to-end service and network orchestration by bringing key assurance capabilities to power the next generation of networks, according to the announcement.
MYCOM OSI’s award-winning service assurance suite comprises performance management, fault management and service quality management, leveraging artificial intelligence (AI) and machine learning (ML) to detect and predict anomalies and enable intent-driven closed loop operations through automated remediation and AIOps.
5G, which is the name for the fifth-generation technology standard for wireless networks, is said to bring increased internet speeds (at least 10 times faster than the current 4G.) MYCOM OSI delivers 5G assurance applications and solutions to multiple customers with 5G networks, as well as serving wireline operator networks, which are becoming increasingly virtualized, containerized and software defined. MYCOM OSI’s cloud-native solutions leverage the benefits of the cloud such as scalability, cost and reliability, and support the converged network-cloud ecosystem.
“This is a strategic growth move that builds on our other recent successful acquisitions in the network and cloud space and executes on three of our core strategic pillars – intelligent network automation, 5G and cloud,” said Shuky Sheffer, president and chief executive officer at Amdocs. “As the network and services of the 5G era become increasingly dynamic and complex, a holistic, end-to-end approach is key and can only be achieved with a powerful AI-backed assurance solution suite. That’s why we’re so excited to welcome the highly talented and dedicated MYCOM OSI team to Amdocs.”