St. Louis Company Buys Canada Bridgewater Systems

7 years 4 months 2 days ago Friday, June 17 2011 Jun 17, 2011 Friday, June 17, 2011 9:28:00 AM CDT June 17, 2011 in News
By: Associated Press

ST. LOUIS (AP) -- Amdocs Ltd., a company that helps other companies improve how they serve customers, said Friday that it agreed to buy Canada's Bridgewater Systems for about 211 million Canadian dollars, or $215.5 million.

Under the terms of the deal, Amdocs will buy the Canadian company, which provides pricing strategies and other services to mobile device and broadband service providers, for 8.20 Canadian dollars, or $8.37, per share.

The boards of both companies have unanimously approved the deal, which is subject to Bridgewater shareholder and regulatory approval, along with other closing conditions. Amdocs said it expects the sale to close within 90 days.

Amdocs said the acquisition will help its customers price the data plans that they offer consumers for their home and businesses, as more people move toward using multiple mobile and broadband devices, such as smart phones, tablets and home computers, on multiple networks.

Amdocs said it doesn't expect the acquisition to affect its adjusted financial results for the 2011 or 2012 fiscal years, but the company said it might incur expenses for those years for certain costs related to the acquisition.

Amdocs shares fell 18 cents to $29.03 in morning trading Friday.

 

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