Amdocs To Acquire Bridgewater Systems

Amdocs Ltd DOX agreed to acquire Bridgewater Systems Corp for C$8.20 per share in cash, or about C$211 million ($214 million) in total. The Boards of Directors of both the companies have each unanimously approved the deal. The deal is likely to be completed within 90 days. Amdocs doesn't expect any material impact on its adjusted earnings in fiscal year 2011 or fiscal year 2012. "This acquisition would build on Amdocs' leadership in delivering innovative solutions that change market paradigms. It is a continuation of our strategy to support service providers as they seek to transform their businesses in anticipation of new market opportunities like 4G and machine-to-machine, and in response to clear threats, such as the data explosion," said Amdocs Group President, Brian Shepherd. Amdocs shares gained 1.04% to close at $29.21 yesterday. Read more from Benzinga's Company news.