Amdocs Drops $120M On Summit-Backed Software Co. Actix

Law360, New York (September 3, 2013, 2:21 PM EDT) -- Business software company Amdocs Ltd. has reached an agreement with Boston-based growth equity firm Summit Partners to acquire Summit portfolio company Actix Ltd. for $120 million in cash, the St. Louis-based firm said Tuesday.

The deal, which has been approved by the boards of Amdocs and Actix, will give Amdocs an improved network for its business software products. Actix is among the market leaders in mobile software and network services for companies around the world.

The acquisition is expected to close by the end of September....
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