Business
Bandwidth to Acquire International Cloud Communications Leader Voxbone
- Leading North American and international cloud platforms come together to supercharge enterprise communications across 60+ countries representing 93% of
About this update from Bandwidth Inc.
[{"type":"text","content":"- Leading North American and international cloud platforms come together to supercharge enterprise communications across 60+ countries representing 93% of global GDP\n - Global enterprises will benefit from a unified software platform and network for the rapid launch and hyper-scale of communications applications and experiences\n - Combination will accelerate and expand Bandwidth's opportunity to serve $17.7 billion CPaaS market with a five-year CAGR of 33% (2019 to 2024)[1]\n - Voxbone's 2020 revenue is expected to be more than $85 million and up more than 25% year-over-year, and upon close will be accretive to Bandwidth's non-GAAP gross margin and non-GAAP net income\n\n\nRALEIGH, N.C. and LONDON, Oct. 12, 2020 /PRNewswire/ -- Bandwidth (NASDAQ: BAND), a leading enterprise cloud communications company announced it has signed a definitive agreement to acquire Voxbone, an international enterprise cloud communications leader, for an enterprise value of €446 million EUR, representing a multiple of approximately six times anticipated Voxbone 2020 revenue. Voxbone has been majority-owned by Vitruvian Partners, a leading growth- and technology-focused investment firm headquartered in London, UK, since 2015. Voxbone is a leading European-based communications platform and IP voice network. Since 2005, their mission has been to simplify global communications for businesses by providing compliant, quality coverage that can be integrated with any contact center, conferencing platform or voice application. \n\n \n \n \n \n \n \n\n \n\"We are bringing together leading domestic and international enterprise cloud communications platforms to supercharge global cloud communications for our customers. Bandwidth's deep US presence and Voxbone's world-wide platform across 60+ countries will serve enterprises in countries representing 93% of global GDP. Today's announcement accelerates our international strategy by several years. Our current and future customers will benefit from using a unified software platform, network and team to serve people around the world,\" said David Morken, Co-founder, Chairman and CEO of Bandwidth. \"Voxbone's platform is trusted by approximately 900 enterprises, including brands like Uber, Zoom, 8x8 and Skype. We're thrilled to welcome this pioneering team to Bandwidth and congratulate them on their tremendous growth....