Canadian company pays $40M for Hackensack video software firm

By Eric Strauss
Hackensack | May 15, 2019 at 11:30 am

A Canadian enterprise software company has paid $40 million for Vidyo Inc., a Hackensack-based provider of video software solutions, it announced Wednesday.

Enghouse Systems Ltd. said Vidyo has annual revenue of about $60 million and more than 1,700 customers worldwide. Vidyo offers an infrastructure software platform that supports visual communications across a variety of networks and locations, according to a news release on the deal.

“We’re excited to join Enghouse because of the great product fit and our shared vision,” Vidyo Chairman and CEO Michael Patsalos-Fox said in a prepared statement. “Enghouse gives us the opportunity to amplify our product innovation, service and support, making this a great transaction for Vidyo’s customers and partners.”

Eric Strauss | estrauss@roi-nj.com | acerimrat