Bandwidth announced a definitive agreement to acquire Voxbone, the international enterprise cloud communications specialist, for an enterprise value of EUR 446 million. Belgium-based Voxbone has been majority-owned by Vitruvian Partners since 2015. Through this combination, Bandwidth aims to play a bigger role in enterprise cloud communications, enabling companies around the world to develop, launch and scale applications and customer experiences using rich voice and text.
Voxbone brings an intuitive user experience, software platform and voice network spanning over 60 countries. Bandwidth said it will also put the company in 11 out of 12 of Gartner's Magic Quadrant Leaders for UCaaS, CCaaS and Meeting Solutions for enterprises.
The acquisition price is equal to around six times Voxbone's expected annual revenues. Voxbone shareholders will receive total cash of USD 400 million and the remainder in Bandwidth shares. The transaction is expected to close on 31 October, and following the closing, Voxbone will operate under the Bandwidth brand.
Q3 results above guidance
In conjunction with the announcement, Bandwidth said that it expects to report third-quarter revenue and adjusted EPS above the guidance ranges provided on July 30. Bandwidth will report its financial results for the third quarter on 29 October after market close.
