cVidya acquisition by Amdocs finally completed

Written by on January 19, 2016 in Billing & Payments, News with 0 Comments

Amdocs and cVidyaAs reported by Haaretz and The Marker (Hebrew) Amdocs completed its purchase of cVidya on Friday. The buyout, that we reported in November, cost $30 million. Some 10 percent of cVidya’s 200 employees will lose their jobs as a result.

The remainder will go to work for Amdocs, after signing employment contracts with the company on Monday. It is reported they will receive the same or better terms of employment than they had before. The companies worked in partnership for years preceding the buyout.

cVidya, which provides revenue assurance and other business protection solutions for communications and digital service providers, has over 150 customers around the world and is profitable. Industry sources say that cVidya’s shareholders wanted to sell the company after it hit a glass ceiling in its field. (Inbal Orpaz)
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