RALEIGH, N.C. and LONDON, Nov. 2,
2020 /PRNewswire/ -- Bandwidth (NASDAQ:
BAND), a leading enterprise cloud communications company,
successfully completed the transaction to acquire Voxbone, an
international enterprise cloud communications leader, for an
enterprise value of €446 million EUR (approximately $519.4 million USD). The consideration to Voxbone
shareholders consisted of cash in the amount of approximately
€354.6 million EUR (approximately $413
million USD) with the remainder being paid in 663,394 shares
of Bandwidth Class A common stock (approximately €91.3 million EUR
or approximately $106.4 million
USD).
The deal was originally announced on October 12, 2020 and accelerates Bandwidth's
international strategy by several years, giving the company a
footprint in 60+ countries, representing 93% of the world's
GDP.
Voxbone will operate under the Bandwidth brand.
"We are thrilled to welcome Voxbone who are officially joining
us on our mission to develop and deliver the power to communicate,
now around the globe," said David
Morken, Chief Executive Officer of Bandwidth. "We will
harness a shared set of values and incredible chemistry between the
teams to serve customers worldwide. Our customers are eager to
benefit from our cloud communications platforms powered by a modern
network, giving them the quality, control and scale they need to
succeed."
Together this combination will provide global enterprises:
- A unified software platform and network for the rapid launch
and hyper-scale of communications applications and
experiences;
- Expanded SIP and E911 (emergency services) integrations for
BYOC with Zoom Phone, Microsoft Teams, Genesys, and more;
- Software-enabled migrations for faster, easier deployments, and
customized call routing control; and
- UCaaS and CCaaS partnerships that enable real-time number
porting and instant rollback if needed.
"As a customer of both Bandwidth and Voxbone, we are excited for
two of the leading CPaaS companies to come together, strengthening
their ability to serve global customers like Zoom," said
Graeme Geddes, Head of Zoom Phone
& Rooms. "They've played an important role in the success of
our offering to date and the combined company should be
instrumental as we continue to scale and expand our business to
meet the needs of our customers and the global community with Zoom
Phone as an essential part of our unified communications platform.
Having the support and expertise of a global CPaaS platform and
partner makes meeting our goals easier."
"When I started Dialpad nearly a decade ago, Bandwidth was my
first call," said Craig Walker,
Founder & CEO of Dialpad. "As Dialpad has evolved over the
years, the platforms, automation and support from both Bandwidth
and Voxbone have helped to fuel our continued growth and
innovation, allowing us to deliver best in class end-user
experiences, and putting us in a position to serve a rapidly
changing workforce worldwide. We're fired up to see this
union."
Amaya Lantero has been named GM
of Bandwidth's International operations. Lantero previously served
as Chief Revenue Officer for Voxbone and oversaw the full go to
market team. In her new role, she will lead international
operations for Bandwidth, including commercial, product, operations
and technology. She'll have full P&L responsibility and will
oversee the transition of Voxbone to "One Bandwidth."
"Amaya is a powerhouse. She drove Voxbone's revenue growth and
global expansion. She's got great breadth of experience across
strategy, business development, and operations. Our international
team is in great hands under her leadership," said Morken.
About Bandwidth
Bandwidth (NASDAQ: BAND), is a leading global enterprise cloud
communications company. Companies like Google, Microsoft, Cisco,
Zoom, Uber and RingCentral use Bandwidth's APIs to easily embed
voice, messaging and 911 access into software and applications.
Bandwidth is the first and only CPaaS provider offering a robust
selection of communications APIs built around their own nationwide
IP voice network–one of the largest in the nation. More information
is available at www.bandwidth.com.
Forward-Looking Statements
This press release includes forward-looking statements. All
statements contained in this press release other than statements of
historical facts, including, without limitation,, future financial
and business performance, attractiveness of our product offerings
and platform and the value proposition of our products, are
forward-looking statements. The words "anticipate,""guide," "may,"
"will" and similar expressions and their negatives are intended to
identify forward-looking statements. We have based these
forward-looking statements largely on our current expectations and
projections about future events and financial trends that we
believe may affect our financial condition, results of operations,
business strategy, short-term and long-term business operations and
objectives and financial needs. These forward-looking statements
are subject to a number of risks and uncertainties, including,
without limitation, risks related to our rapid growth and ability
to sustain our revenue growth rate, competition in the markets in
which we operate, market growth, our ability to innovate and manage
our growth, our ability to expand effectively into new markets, our
ability to operate in compliance with applicable laws, and risks
that the anticipated benefits of the acquisition of Voxbone may not
be fully realized or may take longer to realize than expected as
well as other risks and uncertainties set forth in the "Risk
Factors" section of our Form 10-K for the year ended December 31, 2019, filed with the Securities and
Exchange Commission and any subsequent reports that we file with
the Securities and Exchange Commission after December 31, 2019. Moreover, we operate in a very
competitive and rapidly changing environment. New risks emerge from
time to time. It is not possible for our management to predict all
risks, nor can we assess the impact of all factors on our business
or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in
any forward-looking statements we may make. In light of these
risks, uncertainties and assumptions, we cannot guarantee future
results, levels of activity, performance, achievements or events
and circumstances reflected in the forward-looking statements will
occur. We are under no obligation to update any of these
forward-looking statements after the date of this press release to
conform these statements to actual results or revised expectations,
except as required by law. You should, therefore, not rely on these
forward-looking statements as representing our views as of any date
subsequent to the date of this press release.
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SOURCE Bandwidth Inc.