Tuesday, April 18, 2006

Amdocs Buys Qpass for $275M

Amdocs, a software and services firm in the customer management space, has acquired Seattle-based Qpass for $275M in cash. Qpass has been developing products, services, and businesses to content providers and wireless service providers. The company's software is used to manage buying and selling of digital goods and services, and is used by Cingular, T-Mobile, Sprint, and others to sell products via cell phone. Amdocs said that it will use the acquisition to increase its sources of revenue. Qpass is backed by Westbury Partners, Venrock Associates, RRE Ventures, Oak Investment Partners, Granite Global Ventures, and Seapoint.