Wednesday August 5, 2020

Openet Telecom sold in $180 million deal

Software firm‘s takeover will result in windfall payments to investors, including senior management

Ian Guider

Markets Editor

@ianguider
24th July, 2020
Niall Norton, co-founder of Opennet, which has been sold for $180 million to the US firm Amdocs

The Dublin-based software company Openet Telecoms has been sold for $180 million (€155 million) in one of the largest deals involving an Irish company this year.

The sale of Openet to the American firm Amdocs will represent a major windfall for the company’s shareholders, who include founders Joe Hogan and Niall Norton, and the investment firm Balderton Capital.

For many years Openet, which develops software for the telecoms industry, was one of Ireland’s fastest-growing...

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