Openet
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| Industry | telecommunication-software |
|---|---|
| Founded | Dublin, Ireland (1999) |
| Headquarters | Dublin, Ireland |
Key people | Niall Norton, CEO Joe Hogan, Founder and CTO |
| Products | Policy Manager, Evolved Charging, Convergent Mediation, Interaction Gateway |
Number of employees | 960 (2013)[needs update] |
| Website | www.openet.com |
Openet is a software vendor with corporate headquarters in Dublin, Ireland, and two regional headquarters in Malaysia and the United States with offices worldwide. Openet products are used by telecommunications service providers to commercialize and analyze activity on their network by processing customers' data usage. Openet was acquired by Amdocs in 2020.
History
The company was founded in 1999 by Joe Hogan and Declan Conway, both ex-Retix Ireland employees. It received its initial funding from Cross Atlantic Technology Fund (XATF), which invested US$2.7 million for a 13.0% stake.[1]
As of 2013, it had more than 900 employees and more than 80 customers in 32 countries.[citation needed] By 2011, Openet reportedly had an 11 percent share of the wireless policy management software market.[2] Openet's product suite consists of Policy Manager, Evolved Charging, Interaction Gateway and Convergent Mediation.[3] Respondents to a December 2012 survey by Infonetics Research identified Openet, Tekelec and Huawei as the top three policy management vendors.[4]
In August 2010, Amdocs initiated a legal complaint against Openet, alleging the company violated two of its patents. Two additional patents were added to the case in January 2011. In the United States, a Virginia District judge Leonie Brinkema ruled in Openet's favour in February 2012, finding that Openet did not infringe on Amdocs' patents.[5] The judgment was reversed on appeal in Amdocs (Israel) Ltd. v. Openet Telecom, Inc. and case was settled in April 2018.[6]
In July 2020, Amdocs announced its plan to acquire Openet. The boards of directors of Openet and Amdocs approved the transaction for net consideration of approximately $180 million in cash which, subject to the satisfaction of the conditions to closing.[citation needed] The acquisition had completed by August 2020.[7]
References
- ^ Lyons, Madeleine (12 December 1999). "XATF invests $2.7m for 13% of Openet Telecom". The Irish Times. Dublin, Ireland: Irish Times Trust CLG. Retrieved 15 June 2019.
- ^ "Policy Management Report Summary" (PDF), Telecoms MEA, 1 March 2011, retrieved 12 March 2012[permanent dead link]
- ^ "Products". Openet. Archived from the original on 22 March 2013. Retrieved 21 March 2013.
- ^ "Operators name Openet, Tekelec, Huawei top policy vendors; Marketing plays bigger buying role" (Press release). Infonetics Research. 14 December 2012. Archived from the original on 4 March 2016.
- ^ Kennedy, John (2 October 2012). "Openet wins summary judgment in patents case filed by Amdocs". siliconrepublic.com. Dublin, Ireland: Silicon Republic Knowledge & Events Management Ltd. Retrieved 15 June 2019.
- ^ Amdocs (Israel) Limited v. Openet Telecom, Inc. and Opennet Telecom Ltd., 2015-1180 (Fed. Cir. 1 November 2016).
- ^ "Amdocs wraps-up $180 million deal to buy Openet". 12 August 2020.