Dublin software firm bought by Israel's Amdocs
Deal values award-winning firm at around €77m
Nasdaq-listed software company Amdocs has bought Dublin-based billing software company Brite:bill.
Brite:bill specialises insoftware which produces tailored and customised bills for telecoms and utility companies. Founded in 2010, the company is headquartered in Dublin and has offices in London, Madrid, Toronto. It was named 'Emerging Company of the Year' at the Irish Software Association's 2014 industry awards.
The business wasco-founded by Alan Coleman and Jim Hannon in 2010.
The deal was announced along with two other acquisitions by Amdocs, an Israeli company which was originally involved in providing directory services such as Yellow Pages and Golden Pages. It said the three "similarly priced" companies were acquired for a combined amount of approximately $260m in cash, which implies a value of around €77m for the Brite:bill component of the deal.
The Irish company had a diverse range of investors including Enterprise Ireland, the Ulster Bank Diageo Venture Fund, the Delta Equity Fund, the Hayes Consortium and a number of angel investors.
