Vonage Acquires Nexmo to Foray into CPaaS
FREMONT, CA: Vonage has announced that it has acquired privately-held Nexmo, a provider of cloud communications platforms, for $230 million. Vonage has noted that Nexmo is the world's second largest Communication Platform as a Service (CPaaS) company as measured by revenues.
Vonage enables high-quality voice and messaging services across multiple devices and locations over broadband networks.
Founded in 2011, Nexmo has offices in London, Hong Kong and Singapore in addition to its San Francisco headquarters. It has the global network of 650 interconnected carriers, which deliver API-based communications platform for messaging, programmable voice and chat apps. Nexmo has more than 350 enterprise customers worldwide, and 114,000 registered developers and processes 5 billion API calls annually.
Vonage has said that its strength in voice services, coupled with Nexmo's communications platform, will position the company as a best-in-class leader across the two dominant modes of communication, which are voice and messaging.
The acquisition of Nexmo has empowered Vonage to foray into newer markets and offer its existing as well as prospective customers an array of new services. "Vonage is well positioned to meet the growing need for cloud communications in the market by providing innovative tools and services to help our customers" said Alan Masarek, CEO, Vonage.
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