The acquisition combines Vonage's UCaaS and CPaaS solutions with NewVoiceMedia's pure-play cloud contact center offerings, providing an end-to-end communication experience for a company's employees and customers.
"We are thrilled to announce the acquisition of NewVoiceMedia, which represents a major step forward in the realization of our strategic vision to deliver a differentiated, fully-programmable communications solution that drives more meaningful customer interactions and better outcomes for businesses," said Vonage CEO Alan Masarek.
"This acquisition accelerates Vonage's growth strategy and leadership position in cloud communications, strengthens our presence with global mid-market and enterprise clients, and deepens our integrations and key go-to-market relationships with CRM providers, especially Salesforce.com."
NewVoiceMedia is in the Leader's quadrant of the Gartner CCaaS Magic Quadrant for Western Europe, and was included for the third consecutive year on the Forbes Magazine Cloud 100, a list of the top 100 private cloud companies in revenue, sales growth, valuation and culture.
Dennis Fois, CEO of NewVoiceMedia, commented, "Vonage and NewVoiceMedia share a powerful vision to serve businesses with cloud communications that connect employees and enable personalized conversations with their customers and prospects. Together, we can help businesses create richer experiences through a state-of-the-art, global, programmable cloud communication platform."
NewVoiceMedia will continue to be led by Mr. Fois, who has more than 25 years of experience in international leadership, strategy, sales and marketing in the technology and financial services markets.
Together, Vonage and NewVoiceMedia will be addressing a total addressable market that is expected to grow 60% over the next four years to approximately $80 billion, according to IDC. Within this, contact centre is a $9 billion market today.
"Vonage is acquiring a high-growth software company that brings a cloud-native contact center solution that can be integrated with Vonage's existing assets to create an expanded enterprise communications software suite and, as importantly, 400+ customer experience professionals, deployed globally," observes Sheila McGee-Smith, President & Principal Analyst, McGee-Smith Analytics, LLC. "NewVoiceMedia is particularly well-positioned to address larger-scale deployments due to its global scale and strong partnership with Salesforce.com. Additionally, the NewVoiceMedia team will be a big part of jump-starting Vonage's attack on the huge CCaaS market opportunity."