Leading enterprise cloud communications provider, Bandwidth, recently announced a new definitive agreement to purchase Voxbone. Voxbone is an international leader in the enterprise cloud communications environment. The purchase, worth 446 million EUR, represents about 6 times Voxbone’s 2020 revenue. Before now, the Voxbone brand was majority owned by Vitruvian Partners, a technology and growth-focused investment firm in London.
As a pioneer in European cloud communications platforms and IP voice networks, Voxbone makes for a powerful purchasing opportunity for Bandwidth. Since 2005, the company has been working hard to simplify global communications with quality and consistent coverage that integrates with any contact centre, voice application, or conferencing platform.
Enhancing the Communications Market
According to the Chairman, CEO, and Co-Founder of Bandwidth, David Morken, the new purchase combines leading international and domestic cloud communications platforms to enhance global operations for customers.
The recent acquisition accelerates the international strategy for Bandwidth and ensures that current and future customers for the company can benefit from a unified software platform and network that’s consistent around the world. Around 900 enterprises already rely on Voxbone’s platform today, including brands like 8×8, Zoom, and Uber. Bandwidth is thrilled to be taking this next step with the team.
The new purchase of Voxbone will allow Bandwidth to play a more significant role in leading the transformation of enterprise cloud solutions, enabling companies worldwide to launch, develop and scale customer experiences through text and voice.
Preparing for the Future of Communications
In 2020, enterprises everywhere are prioritising video, voice, and text communications for digital transformation. At the heart of this challenge is a growing need for a worldwide cloud communications network and platform. The addition of Voxbone’s intuitive user experience, voice network, and software platform across 60 countries will strengthen Bandwidth’s position to provide global enterprises with a new way to develop and deliver communications options.
This purchase is a fantastic opportunity for Bandwidth, as IDC believes worldwide spending on Communications as a Service will be worth $17.7 billion by 2024.
The deal is expected to finalise this coming Saturday, October 31st. After the deal closes, Voxbone will operate under the Bandwidth brand.
