US-based payment services provider Vindicia was acquired by customer experience technology developer Amdocs on Wednesday, providing an exit to media conglomerate Bertelsmann.
The acquisition was one of three announced simultaneously by Amdocs, the other two being billing platform Brite:Bill and customer engagement software producer Pontis.
Amdocs paid a combined $260m in cash for all three startups. The sum was divided roughly equally between the companies, Amdocs said, but did not disclose further details.
Founded in 2003, Vindicia operates a software-as-a-service platform that enables companies to process payments and subscriptions for digital content, on-demand services and over-the-top entertainment products. It had raised approximately $41m in funding.
Vindicia most recently secured $20m in a 2010 series E round led by venture capital firm FTV Capital that included Bertelsmann Digital Media Investments, a corporate venturing subsidiary of Bertelsmann, as well as DCM Ventures and Onset Ventures.
Eli Gelman, president and CEO of Amdocs, said: “These acquisitions, alongside Amdocs’ existing platforms which include multichannel, digital care and commerce, customer management and big data analytics solutions, position Amdocs as the market leader to help communication and media providers on their journey.
“I am excited by these companies joining Amdocs, as their cloud-based technologies will augment Amdocs’ rich offering and shorten our time to market.”