Infobip completes Peerless Network acquisition strengthening its U.S. and global offer
Global cloud communications platform creates one-stop shop for omnichannel communications helping businesses make more meaningful connections with customers in 190 countries
Vodnjan, Croatia & Seattle, USA – 27 July 2022: Infobip, the global cloud communications platform, has completed the purchase of global Voice over Internet Protocol (VoIP) provider Peerless Network, having received federal and state level regulatory approvals. The acquisition enhances Infobip’s presence in the U.S. and enables the firm to expand its voice offering worldwide, creating a global one-stop shop for omnichannel communications. The value of the deal is around $200 million.
As a result of the deal, Infobip’s clients can now access the U.S. market through Peerless Network, whose nationwide voice network covers 98% of Americans across 49 states. In addition, Infobip now offers Peerless Network’s client’s access to its market-leading communications platform-as-a-service (CPaaS), helping them broaden their omnichannel capabilities and connect with their customers globally at scale.
“With 57% of U.S. companies already using CPaaS, Infobip’s acquisition of Peerless Network enables the firm to immediately increase both its coverage and capabilities,” said Courtney Munroe, research vice president and analyst, at IDC. “A strong U.S. presence adds to Infobip’s key differentiators including its broad product portfolio, global scale, local touch, and high quality of service. Infobip has a great reputation for reliability, a good price-quality ratio based on its large number of direct connections. It also offers solid round-the-clock support – all of which benefit and provide an appealing proposition for Peerless Network’s customers.”
Established in 2008, Peerless Network delivers agile, cost-effective, and simple-to-deploy voice services, including unified communications-as-a-service, session initiation protocols (SIP) trunking, messaging, APIs and Microsoft Teams integration. Its clients include Fortune 500 companies, world-leading mobile network operators, mobile virtual network operators, interexchange carriers, and America’s largest competitive local exchange carriers and VoIP Service Providers.
The acquisition creates an end-to-end solution for omnichannel communications and empowers businesses with best-in-class SaaS-enabled CPaaS software. Together, the firms offer a network of local teams serving businesses around the world.
“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.”
Combined, the two businesses process more than 30 billion monthly customer interactions across the full range of communication channels, in more than 190 countries. The acquisition closely follows Infobip’s acquisitions of U.S. messaging heavyweight OpenMarket, the world’s No. 1 SMS firewall provider, Anam, the developer Shift Conference franchise, and tech portal and publication Netokracija.
“The people, culture and history of Infobip and Peerless Network are similar,” said Kutić. “Both are successful, innovative businesses that have succeeded because of the strength and talent of their people. Combined, those people will create an unstoppable force in the industry that is extremely positive for employees as well as customers, vendors, and prospects.”
Tax and financial support was performed by Ernst & Young (EY). Latham & Watkins LLP served as legal advisor and Regions Securities as financial advisor to Infobip. Moelis & Company LLC acted as exclusive financial advisor to Peerless Network and DLA Piper acted as legal advisor.
Infobip is a global cloud communications platform that enables businesses to build connected experiences across all stages of the customer journey. Accessed through a single platform, Infobip’s omnichannel engagement, identity, user authentication and contact center solutions help businesses and partners overcome the complexity of consumer communications to grow business and increase loyalty. With over a decade of industry experience, Infobip has expanded to 70+ offices across six continents. It offers natively built technology with the capacity to reach over seven billion mobile devices and ‘things’ in 190+ countries connected directly to over 700 telecom networks. Infobip was established in 2006 and is led by its co-founders, CEO Silvio Kutić, Roberto Kutić and Izabel Jelenić.
Recent award wins include:
Omdia Ranks Infobip as Leader in CPaaS Universe Report (May 2022)Ranked the leading service provider in CPaaS by Juniper Research in its new Competitor Leaderboard CPaaS Vendors (October 2021)Infobip named a Leader in the IDC MarketScape: Worldwide Communications Platform-as-a-Service (CPaaS) 2021 Vendor Assessment (doc #US46746221, May 2021). Best A2P SMS provider for the fourth year running by mobile operators and enterprises in ROCCO’s annual Messaging Vendor Benchmarking ReportBest CPaaS Provider of the Year, Best RCS Provider of the Year, and Mover & Shaker in Telco Innovation at the 2021 Juniper Digital Awards