US-listed Bandwidth, an enterprise cloud communications company, is buying London-based Voxbone,for €446m. Voxbone has been majority-owned by PE investment business Vitruvian Partners since 2015.
"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."
Enterprises everywhere in 2020 are prioritizing voice, video, and text communications in their digital transformations. At the center of this challenge is a critical need for a single worldwide cloud communications platform and network. With the addition of Voxbone's intuitive user experience, software platform and voice network spanning 60+ countries, Bandwidth aims to provide global enterprises with a unified answer to the question of how to develop and deliver communications applications and experiences around the world. This creates a tremendous opportunity for Bandwidth, as IDC projects worldwide spending on communications as a service to be $17.7bn by 2024, it says..
Upon close, Bandwidth will power 11 out of 12 of Gartner's Magic Quadrant Leaders for UCaaS, CCaaS, and Meeting Solutions enterprises.