Sourced Group sold to Amdocs in US$75 million deal

On May 12, 2021, Amdocs announced its acquisition of Sourced Group for a net consideration of US$75 million, with additional consideration that may be paid later based on the achievement of certain performance metrics. 

Sourced Group is a leading global technology consultancy firm specializing in large-scale cloud transformations for sophisticated, high end enterprises. Sourced Group, a previously privately-owned company headquartered in Toronto, has offices in Australia, Singapore and Malaysia. Amdocs (NASDAQ: DOX) is a leading provider of software and services to communications and media companies. 

This transaction creates the opportunity to bring to Amdocs' 350+ service provider customers Sourced Group's decade-long experience of delivering cloud at scale. Sourced Group's expertise and experience in different industries such as financial services, communications and others will strengthen Amdocs' capabilities for taking the communications industry to the cloud.

Gowling WLG advised Sourced Group with respect to this transaction with a team that included Derek Keay, Shaela Rae and Mandy Bedford (corporate/M&A), Melanie Polowin (employment), Ian Macdonald (Investment Canada/regulatory) and Peter Fairey (BC corporate matters).