Cloud communications company paying $300M for messaging solutions business

Infobip, a cloud communications company with its U.S. headquarters in Jersey City, has agreed to acquire the OpenMarket mobile messaging solutions business from Amdocs Inc. for about $300 million in cash, it announced this week.

The deal would create a global cloud communications company, combining OpenMarket’s success in the U.S. with Infobip’s global strength, it said in a news release. The transaction is expected to close following customary approvals.

“This transaction marks a significant leap forward in our journey toward exponential growth,” Infobip co-founder and CEO Silvio Kutic said in a prepared statement. “Combined, Infobip and OpenMarket have some 10,000 customers, including many of the world’s leading enterprises. We will now be better able to meet the customers’ needs in every region, with best-in-class direct connectivity to more than 650 mobile operators and a best-in-class combined portfolio of cloud-based messaging and (Software-as-a-Service) offerings.”

The OpenMarket team will join Infobip, Kutic noted.