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  "documentTitle": "Amdocs Limited (DOX)",
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      "kind": "callout",
      "text": "Is Amdocs minimizing the immediate revenue contribution of acquired businesses only to realize greater acquisition-driven revenue later in an attempt to make the resulting sales growth appear organic?",
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      "text": "Management announced the acquisition of Vubiquity for $224M and of projekt202 for $54M in Q1 FY 2018, and the acquisition of UXP Systems for $80M in Q2. Both closed mid-way through Q2. Management again downplayed the contribution of UXP to sales...",
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      "text": "During Q1, to support our digital strategy, we acquired projekt202, a leader in experience-driven software design and development... the revenue contribution for the quarter was immaterial.",
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      "text": "Based in Los Angeles, Vubiquity is a provider of premium content services and technology solutions, which upon closing, we expect will contribute annualized revenue of approximately $100 million for Amdocs.",
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      "text": "And in terms of the numbers, [UXP is] less material. So, that's why we didn't refer to it. It's relatively a small company at this stage...",
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      "text": "\"Based in Los Angeles, Vubiquity is a provider of premium content services and technology solutions, which upon closing, we expect will contribute annualized revenue of approximately $100 million for Amdocs.\" — Eli Gelman, President and CEO, Amdocs; \"During Q1, to support our digital strategy, we acquired projekt202... the revenue contribution for the quarter was immaterial.\" — Tamar Rapaport-Dagim, CFO, Amdocs; \"And in terms of the numbers, [UXP is] less material. So, that's why we didn't refer to it. It's relatively a small company at this stage...\" — Tamar Rapaport-Dagim, CFO, Amdocs.",
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