Star Metro - VEON and Amdocs Enter 10-Year Strategic Agreement to Advance Digital Services powered by Amdocs' AI technology

DUBAI, AE AND ALMATY, KZ AND JERSEY CITY, NJ / ACCESS Newswire / October 7, 2026 / VEON Ltd. ("VEON"), a global digital operator, and Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today announced a 10-year strategic agreement. Under the agreement, Amdocs will run and continuously modernize VEON's core technology operations, accelerate its strategy as a digital operator, and provide long-term cost predictability across its IT operations in Eurasia. Amdocs will utilize certain QazCode intellectual property rights, leveraging QazCode's technology expertise, which will be integrated into Amdocs aOS, an agentic operating system purpose-built for telecommunications.

"Digital and AI services are an increasingly important part of how we serve our customers, already accounting for about 27% of VEON's Group revenue, and that contribution keeps growing," said Kaan Terzioğlu, Chief Executive Officer of VEON. "QazCode has helped us build the technology and talent to bring better digital experiences to the millions of people who rely on us every day, and adopting Amdocs' aOS capabilities is a natural next step in that journey. Our strategic partnership with Amdocs creates a strong foundation to keep improving people's lives through digital and AI innovation over the next decade."

"VEON is one of the most ambitious digital operators in our industry, and exactly the kind of partner we built aOS, the agentic operating system specialized for telco, for. With aOS, Amdocs will help transform VEON's operations, customer experiences and digital services through verticalized, telco-specific AI, advancing its evolution toward intelligent agentic autonomy. VEON's trust in Amdocs to lead this journey reflects our shared ambition to shape the next era of the digital operator. This agreement also expands Amdocs' presence in Kazakhstan, Uzbekistan and the wider Eurasia region, where we see significant opportunity," said Anthony Goonetilleke, Group President, New Growth Horizons at Amdocs.

About VEON

VEON is a digital operator that provides connectivity and digital services to over 150 million connectivity customers and more than 228 million digital customers. Operating across five countries that are home to more than 6% of the world's population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: https://www.veon.com.

About QazCode

QazCode is one of the leading AI companies and the exclusive digital partner of Beeline Kazakhstan. The company is part of the VEON group, which is listed on the Nasdaq stock exchange. The company has over 750 employees with 8 years of experience in software development for the telecom and IT markets with a deep understanding of business and technology. The solution portfolio includes the development of private Large Language Models (LLM) with a focus on data security, process optimization through Agile methodologies, full-cycle implementation of Business Support Systems (BSS), and IT outsourcing for effective product development, team expansion, and project management to help accelerate time to market. The company already operates in Central Asia, Europe, and the Middle East, and is actively expanding its presence in new markets.

About Amdocs

Amdocs helps the world's leading communications and media companies deliver exceptional customer experiences through reliable, efficient, and secure operations at scale. We provide software products and services that embed intelligence into how work runs across business, IT, and network domains - delivering measurable outcomes in customer experience, network performance, cloud modernization, and revenue growth. With our talented people, and more than 40 years of experience running mission-critical systems around the globe, Amdocs runs billions of transactions daily. Our technology is relied on every day, connecting people worldwide and advancing a more inclusive, connected world. Together, we help those who shape the future to make it amazing. Amdocs is listed on the NASDAQ Global Select Market (NASDAQ:DOX) and reported revenue of $4.53 billion in fiscal 2025. For more information, visit www.amdocs.com.

VEON's Forward-Looking Statement

This release contains "forward-looking statements", within the meaning of the Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements relating to closing of the Amdocs transaction and our strategic ambitions. There are numerous risks, uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to the closing of the Amdocs transaction and our strategic ambitions, among others discussed in the section entitled "Risk Factors" in VEON's 2025 Form 20-F filed with the SEC on March 16, 2026 and other public filings made by VEON with the SEC. The forward-looking statements contained herein speak only as of the date of this release and VEON disclaims any obligation to update them, except as required by law.

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 and years. 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 macroeconomic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other regional events or pandemics, changes to trade policies including tariffs and trade restrictions, as well as the current inflationary environment, and the effects of these conditions on the Company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the Company's customers. 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, security incidents, including breaches and cyberattacks to our systems and networks and those of our partners or customers, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the Company's offerings and operations, 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, Amdocs 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, 2025, filed on December 15, 2025, for the first quarter of fiscal 2026 on February 17, 2026, for the second quarter of fiscal 2026 on May 26, 2026 and for the third quarter of fiscal 2026 on August 18, 2026.

Media Contacts

VEON
[email protected]

Amdocs
Swati Sharma
[email protected]

SOURCE: Amdocs Management Limited

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Y.X. Gagnon--SMC