Infobip completes Peerless Network acquisition strengthening its U.S. and global offer
Infobip, the global cloud communications platform, has completed the purchase of global Voice over Internet Protocol (VoIP) provider Peerless Network, having received federal and state level regulatory approvals. The acquisition enhances Infobip’s presence in the U.S. and enables the firm to expand its voice offering worldwide, creating a global one-stop shop for omnichannel communications. The value of the deal is around US$200-million.
As a result of the deal, Infobip’s clients can now access the U.S. market through Peerless Network, whose nationwide voice network covers 98% of Americans across 49 states. In addition, Infobip now offers Peerless Network’s client’s access to its market-leading communications platform-as-a-service (CPaaS), helping them broaden their omnichannel capabilities and connect with their customers globally at scale.
“With 57% of U.S. companies already using CPaaS, Infobip’s acquisition of Peerless Network enables the firm to immediately increase both its coverage and capabilities,” said Courtney Munroe, research vice president and analyst, at IDC. “A strong U.S. presence adds to Infobip's key differentiators including its broad product portfolio, global scale, local touch, and high quality of service. Infobip has a great reputation for reliability, a good price-quality ratio based on its large number of direct connections. It also offers solid round-the-clock support – all of which benefit and provide an appealing proposition for Peerless Network’s customers.”
Established in 2008, Peerless Network delivers agile, cost-effective, and simple-to-deploy voice services, including unified communications-as-a-service, session initiation protocols (SIP) trunking, messaging, APIs and Microsoft Teams integration. Its clients include Fortune 500 companies, world-leading mobile network operators, mobile virtual network operators, interexchange carriers, and America’s largest competitive local exchange carriers and VoIP Service Providers.
“America is home to many world-leading platform businesses and enterprises, so cementing Infobip’s presence in the U.S. with this deal is a significant milestone,” said Silvio Kutić, CEO of Infobip. “It confirms our global growth strategy to better help businesses reach their customers on the right channel at the right time to boost reliability and drive sales. Moreover, combining Peerless Network’s leading voice offering with Infobip's global messaging capabilities prepares us for leadership in the rapidly developing market for cloud communications. With a strengthened voice proposition and a global presence, we help companies make more meaningful customer connections worldwide.”
The acquisition creates an end-to-end solution for omnichannel communications and empowers businesses with best-in-class SaaS-enabled CPaaS software. Together, the firms offer a network of local teams serving businesses around the world.
“Infobip is the market-leading communications platform-as-a-service with full-stack capabilities and global scale from which our customers will now benefit. Combined with our leading voice network, we now offer a one-stop shop for omnichannel communications,” said John Barnicle, CEO of Peerless Network. “Together, our firms offer a network of local teams serving businesses around the world where customers benefit from the most comprehensive suite of SaaS-enabled CPaaS software available today.”
Combined, the two businesses process more than 30 billion monthly customer interactions across the full range of communication channels, in more than 190 countries. The acquisition closely follows Infobip’s acquisitions of U.S. messaging heavyweight OpenMarket, the world’s No. 1 SMS firewall provider, Anam, the developer Shift Conference franchise, and tech portal and publication Netokracija.
“The people, culture and history of Infobip and Peerless Network are similar,” said Kutić. “Both are successful, innovative businesses that have succeeded because of the strength and talent of their people. Combined, those people will create an unstoppable force in the industry that is extremely positive for employees as well as customers, vendors, and prospects.”
Tax and financial support was performed by Ernst & Young (EY). Latham & Watkins LLP served as legal advisor and Regions Securities as financial advisor to Infobip. Moelis & Company LLC acted as exclusive financial advisor to Peerless Network and DLA Piper acted as legal advisor.