Business VoIP Featured Article

Mavenir Announces Telestax Acquisition

August 27, 2021

By Luke Bellos, Editor, Business VoIP

Messaging monetization solution provider Mavenir recently revealed the purchase of Telestax Inc, an Austin-based CPaaS enablement company focused on enterprise communications solutions.

As part of the acquisition, Mavenir plans to fully utilize Telestax’s software and expertise to further develop Mavenir Engage, the company’s messaging monetization solution, through new SaaS service models, business applications, and APIs.

“CPaaS is the key enabling technology for our Mavenir Engage service to position Communications Service Providers (CSPs) at the forefront of the digital engagement landscape,” said Ian Maclean, SVP/GM Cloud Services at Mavenir, “With this acquisition, Mavenir is lowering the barrier of entry and democratizing business messaging for businesses of all sizes to implement conversational commerce experiences.”

The CPaaS market has exploded in recent years, as larger,enterprise level organizations look to unify communications channels for simplified operations and new revenue opportunities. The market demand spiked dramatically over the last year, with 451 Research's Workforce Productivity & Collaboration 2021 report finding a 40% rise in revenue in 2020 alone, bringing the total market revenue to $6.5 billion. That same report expects revenue to reach $21 billion by 2025.

“Communication Platforms are becoming a key differentiator for service providers,” said Pardeep Kohli, President and CEO, Mavenir. “They will unlock enterprise value in 5G with API enablement for different verticals such as IoT, Smart Cities, Automotive and provide turnkey applications for logistics, fleet management, AI/ML chatbots, voice biometrics verification, immersive commerce/entertainment and many other use cases.”

Edited by Maurice Nagle



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