Amdocs alters shift in strategy
Source: Agencies |
April 6, 2010, Tuesday
|
Print Edition
Print Edition
TELECOMMUNICATIONS software maker Amdocs Ltd will sell a majority stake in its Longshine unit in a shift in its Chinese market strategy.
Amdocs said the sale of 81 percent in Longshine to the locally-managed Longshine Technology Holdings Ltd will allow that company to focus on providing custom built services for telecom and utilities companies in China. US-based Amdocs will continue to sell its own proprietary products to Chinese service providers.
"Amdocs is committed to success in China. However, the market dynamics have not evolved in the way we had anticipated when we acquired Longshine in 2005," said Ayal Shiran, head of the Customer Business Group for Amdocs Management Ltd.
Amdocs said it will incur an after-tax charge of 9 cents to 11 cents per share in its fiscal second quarter.
Amdocs said the sale of 81 percent in Longshine to the locally-managed Longshine Technology Holdings Ltd will allow that company to focus on providing custom built services for telecom and utilities companies in China. US-based Amdocs will continue to sell its own proprietary products to Chinese service providers.
"Amdocs is committed to success in China. However, the market dynamics have not evolved in the way we had anticipated when we acquired Longshine in 2005," said Ayal Shiran, head of the Customer Business Group for Amdocs Management Ltd.
Amdocs said it will incur an after-tax charge of 9 cents to 11 cents per share in its fiscal second quarter.
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