Irish software firm Britebill sold in €230m Israeli swoop
Published 15/09/2016 | 02:30
The Dublin-based telecoms software firm Britebill has been acquired by an €8bn Israeli rival, Amdocs.
The acquisition price was not disclosed, although it is estimated to be over €60m based on guidance from Amdocs.
Britebill, which employs about 100 people in Dublin and several offices abroad, has an annual turnover of over €12m.
It primarily provides billing software to mobile phone carriers. Britebill was increasingly in competition with Amdocs to win business in the US mobile carrier market.
A source close to the company called the acquisition a "strategic fit" between the two companies.
He said that Britebill executives are expected to stay on after the completion of the deal.
Britebill counts the US operator Sprint and the Canadian operator Rogers as customers, as well as T-Mobile in Germany. In Ireland, its customers include Vodafone, Eir and Virgin.
The company's founder, Alan Coleman, is a previous Accenture executive who was shortlisted for the Ernst & Young Entrepreneur Of The Year in 2015.
Earlier this year, Mr Coleman said that Britebill software processes over 25m individual bills, worth almost €5bn, every month. He said that the company has grown over 300pc in 2015 and was set to double its turnover in 2016. He said that Britebill was considering new markets such as healthcare, financial services and utilities.
Britebill was one of three software companies swooped on by Amdocs for a combined €230m. The other two firms, which Amdocs described as being "similarly priced" to Britebill, are the US-based Vindicia and Israel-based Pontis.
"I am excited by these companies joining Amdocs, as their cloud-based technologies will augment Amdocs' rich offering and shorten our time to market," said Eli Gelman Amdocs CEO.
"These acquisitions, alongside Amdocs' existing platforms which include multi-channel, digital care and commerce, customer management and big data analytics solutions, position Amdocs as the market leader to help communication and media providers on their journey.
"Communication and media service providers, including those with over-the-top offerings, are transforming to capture the world of on-demand services and digital immediacy.
"When combined with business-driven analytics behind the scenes, this ensures a simplified, intuitive and engaging customer experience."