Infobip agrees to acquire OpenMarket for $300m to expand global cloud communications reach.
The acquisition creates a cloud communications player with a combined revenue run rate of more than $1bn.
Infobip is a global cloud communications platform enabling businesses to build connected customer experiences at scale. The company provides omnichannel engagement, authentication, and contact center solutions.
Infobip has entered into a definitive agreement to acquire OpenMarket from Amdocs for a gross cash consideration of approximately $300m. The transaction brings together two major cloud communications providers to form an entity with a combined revenue run rate exceeding $1bn. The deal merges OpenMarket's footprint in the United States with Infobip's international reach to process more than 14 billion monthly customer interactions.
The acquisition follows Infobip's recent institutional funding from One Equity Partners. The transaction is subject to customary regulatory approvals before completion.