Infobip, a cloud communications platform, raised $500 million through direct loan placement and acquired Peerless Network in 2021. After recently receiving federal and state level regulatory approvals, Infobip announced it completed the purchase of the VoIP provider.
Peerless Network (News - Alert) delivers cost-effective voice services, including unified communications-as-a-service, session initiation protocols trunking, messaging, APIs and Microsoft (News - Alert) Teams integration. Its clients include Fortune 500 companies, mobile network operators, mobile virtual network operators, interexchange carriers and America’s competitive local exchange carriers and VoIP Service providers.
Infobip’s (News - Alert) clients will access the U.S. market through Peerless Network, whose nationwide voice network covers 98% of Americans across 49 states. Infobip also offers Peerless Network’s client’s access to its CPaaS, helping them broaden their omnichannel capabilities and connect with their customers globally at scale.
“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 Kutic, 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.”
The acquisition created an end-to-end solution for omnichannel communications and empowers businesses with SaaS (News - Alert)-enabled CPaaS software. Combined, the two businesses process more than 30 billion monthly customer interactions across the full range of communication channels, in more than 190 countries.
“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.”
Edited by Greg Tavarez