Amdocs, a provider of customer experience systems, has acquired MX Telecom Ltd, a mobile payments and messaging aggregator with operations in Europe, United States and Australia.

Under the terms of the agreement, Amdocs has acquired MX Telecom (News - Alert) for approximately $104 million USD in cash, net of debt and cash.

Officials with Amdocs said that MX Telecom will become part of the company’s OpenMarket, a business of Amdocs that operates a mobile transaction hub.

Company officials said that the acquisition is expected to accelerate OpenMarket (News - Alert)'s plans for global expansion into key markets.

Also, according to company officials, the joint OpenMarket MX Telecom business will provide a hosted platform to extend mobile payment and messaging capabilities through an integrated network and product portfolio.  

'This strategic acquisition expands OpenMarket's global footprint and substantially increases our market leadership in the rapidly growing mobile payments market that will extend well beyond messaging in the coming years”, said Jay Emmet, general manager of OpenMarket,

Emmet said that it also strengthens the company’s product portfolio with an extensive set of value-added services for merchants.

'We are delighted to be joining forces with OpenMarket. OpenMarket's mobile payments platform is highly synergistic with MX Telecom”, said Alex Moir, managing director of MX Telecom.  

Moir said that this acquisition will enable the combined organization to better serve the customers and accelerate the company’s global growth plans.

“Our employees are proud of what MX Telecom has accomplished, and we look forward to continuing to shape the industry as part of the OpenMarket team,' Moir said.