Acme Packet announced Thursday it has bought Covergence, Inc. in a deal valued at roughly $22.8 million. Covergence shareholders will receive $22.2 million in Acme Packet common stock and an aggregate payment of $600,000 in cash.
Covergence provides software-based session border controllers for VoIP and UC to large enterprises, a market Acme Packet currently leads.
"SIP trunking - with its compelling return-on-investment and increasing worldwide availability - will drive many enterprises to deploy it to even the smallest of locations," stated Andy Ory, CEO and co-founder of Acme Packet. "With the acquisition of Covergence, Acme Packet accelerates its ability to now satisfy the SIP trunking SBC requirements of enterprise small offices and remote sites."
Covergence's SBC products add additional lower-cost options to Acme Packet's product line, expanding the company's reach into the SMB market. Covergence's core team will now work at Acme Packet's headquarters in Burlington, Mass., with three senior-level Covergence employees in executive roles within the combined company.
For more:
- see the Acme Packet press release here
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