Information technology company Infobip buys VoIP service provider Peerless Network for $200 million

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Published on 07/27/2022

Information technology company Infobip buys VoIP service provider Peerless Network for $200 million

It has been announced that Infobip , a cloud communications startup like Twillio, has finalized its purchase of VoIP service provider Peerless Network. Like Twilio, Infobip manages things like SMS, email, phone, and WhatsApp messaging for customer engagement. A news source hasexclusively revealed that the acquisition, announced in November, was worth more than $200 million.

The company said a $500 million venture loan deal it completed last year valued Infobip at about $10 billion. In addition, one Equity Partners reportedly contributed $200 million to Infobip in 2020, followed by another $100 million.

Federal and state-level regulatory permissions were obtained by Infobip for the acquisition, allowing it to strengthen its position in the United States and broaden its voice offering internationally.

The Peerless Network , whose nationwide voice network serves 98 per cent of Americans across 49 states, will now allow its clients access to the U.S. market. In return, Infobip makes its communications platform-as-a-service (CPaaS) platform accessible to Peerless Network's clients.

The CEO of Infobip, Silvio Kutić, stated that cementing Infobip's presence in the U.S. is a significant milestone for the firm. In addition, it is a testament to the company's global growth strategy, as it helps businesses reach customers correctly at the right time. This allows the firm to boost its reliability and drive sales.

The two companies work together to process more than 30 billion consumer interactions monthly across more than 190 nations.

With the deal's completion, Infobip has acquired the Southern European tech journal Netokracija and its crew, the SMS firewall provider Anam, the developer Shift Conference, and the American messaging platform OpenMarket.

Infobip offers messaging services to 750 banks, 650 mobile operators, Facebook, Uber, and other companies. According to the company, 5 billion people have reportedly used an Infobip service.

About Infobip

Infobip, which was launched in 2006, is currently based in London. It was founded by a formal electrical engineer, Silvio Kutić, who started this initiative in his hometown of Vodnjan. Infobip as a result of many previously failed businesses undertaken by Kutić. What makes this firm special is the stakes that its employees share that is estimated to be about 10% of Infobip's overall shares. Infobip specializes in omnichannel engagement powering a range of messaging channels, tools, and solutions for advanced customer engagement. It has over 700 direct operation connections across six continents. Its most popular tracks include SMS, email, WhatsApp, Messenger and Voice.

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Peter Daniels
Peter Daniels is the lead journalist for InsiderApps.com


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