Bandwidth Acquires Voxbone for European Expansion
This is M&A deal number 419 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
Bandwidth is based in Raleigh, North Carolina and makes communications software that enables voice conferencing. It counts Zoom, Skype, and Uber among its customers. The company has around 200 employees around the world.
The acquisition of Voxbone will expand the company’s coverage to more than 60 countries, the company said.
Founded in 2005, Voxbone has been majority-owned by London-based investment firm Vitruvian Partners since 2015. Voxbone offers a communications platform and IP voice network in the region.
Bandwidth Inc’s Growth Trajectory
David Morken, co-founder, chairman and CEO of Bandwidth, commented on the news:
“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. Voxbone’s platform is trusted by approximately 900 enterprises, including brands like Uber, Zoom, 8×8, and Skype. We’re thrilled to welcome this pioneering team to Bandwidth and congratulate them on their tremendous growth.”
With the pandemic forcing people to work from home, enterprises have begun to prioritize voice, video, and text communications as part of their digital transformations. Indeed, IDC projects worldwide spending on Communications as a Service (CaaS) to be $17.7 billion by 2024. Bandwidth says this latest acquisition will help them take advantage of this new future.