ST. LOUIS, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today announced its partnership in the 5G Open Innovation Lab, a global ecosystem for developers, enterprises, wireless carriers and technology leaders to fuel the development and monetization of new 5G powered technology use cases and markets. Amdocs is joining founding partners T-Mobile, Intel, NASA and the others announced today to pool expertise, technology and resources to develop, test and bring to market innovative 5G use cases that realize the full monetization potential of 5G networks and create a more connected world.
“Joining the 5G Open Innovation Lab is a clear sign of commitment from Amdocs to fuel the development of new 5G powered capabilities and use cases,” said Jim Brisimitzis, General Partner, 5G Open Innovation Lab. “As a founding partner, we look forward to Amdocs playing an integral role in helping to create and build the community that will bring tangible products and prototypes to market and accelerate the journey to 5G.”
“Amdocs has invested significantly in the development of open, modular and cloud-native network automation and service monetization solutions for 5G and the new era of programmable networks,” said Anthony Goonetilleke, group president of Media, Network and Technology, Amdocs. “We look forward to leveraging our proven expertise, deep experience and advanced technology to help the 5G Open Lab prototype and accelerate the launch of new monetization models across a range of industry verticals that stimulate the imagination, like autonomous vehicles, remote surgery and immersive mobile VR and AR. We believe that the combination of cloud-native, distributed technologies combined with 5G network capabilities such as network slice automation, flexible charging/rating on the edge, and partner lifecycle management will contribute to new monetization opportunities in the 5G era.”
Service providers such as T-Mobile are accelerating the build-out and operations of advanced 5G networks. The engagement of the next wave of founding partners, such as Amdocs, will drive the partner ecosystem to delve deeper into the practical aspects of bringing new use-cases to market in terms of infrastructure to host and run them, as well as the systems to manage the end-to-end lifecycle covering things like service orchestration, monetization, and partner settlements.
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Amdocs’ purpose is to enrich lives and progress society, using creativity and technology to build a better connected world. Amdocs and its 25,000 employees partner with the leading players in the communications and media industry, enabling next-generation experiences in 85 countries. Our cloud-native, open and dynamic portfolio of digital solutions, platforms and services brings greater choice, faster time to market and flexibility, to better meet the evolving needs of our customers as they drive growth, transform and take their business to the cloud. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.1 billion in fiscal 2019. For more information, visit Amdocs at www.amdocs.com.
Amdocs’ Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs’ growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs’ ability to grow in the business markets that it serves, Amdocs’ ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs’ filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2019 filed on December 16, 2019 and our quarterly Form 6-K furnished for the first quarter of fiscal 2020 on February 18, 2020 the second quarter of fiscal 2020 on May 18, 2020 and the third quarter of fiscal 2020 on August 17, 2020.
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