Vonage Holdings Corp. (NYSE: VG), a Holmdel, New Jersey-based cloud communications platform provider, has acquired TokBox Inc., a San Francisco-based in WebRTC programmable video solutions provider and a subsidiary of Telefonica, S.A.
The all-cash transaction amounted to $35m.
The acquisition places Vonage in the leadership position in the programmable video sector and broaden the Vonage API Platform by adding video to its existing voice, SMS and IP messaging features.
Led by Scott Lomond, CEO, TokBox enables developers and enterprises to integrate live video into websites, mobile apps, and IoT devices with a few lines of code. More than 2,300 customers, across a range of applications including: online education, financial institutions, help desks, telemedicine, field services, interactive broadcasts and social media, including The Royal Bank of Scotland, InTouch Health, KickStarter and Chegg, currently use TokBox to integrate live video into their applications and websites.
Today, over 1,700 mobile apps use the TokBox software development kit across Android and iOS.
Led by CEO Alan Masarek, Vonage provides a unified communications solution with embedded, contextual communications APIs, which enables businesses to collaborate and engage their customers across messaging, chat, social media, video and voice.
The company, which also provides a suite of feature-rich residential communication solutions, has offices throughout the United States, Europe, Asia and Israel.