Holmdel-based Vonage Holdings Corp. has acquired San Francisco-based TokBox Inc. for $35 million, it announced Monday.
TokBox is a WebRTC programmable video provider that aids developers and enterprises to integrate live video into websites, mobile apps and IoT devices with a small line of code, it said.
Vonage said the acquisition of TokBox puts it in leadership capacity in the programmable video sector. It also broadens Vonage’s API Platform by adding video to its already existing voice, SMS and IP messaging offerings.
“We are incredibly excited to announce the acquisition of TokBox, the global leader in programmable video APIs. With TokBox, our API portfolio expands beyond voice, SMS and IP messaging to include global leadership in programmable video. TokBox significantly expands our total addressable market, and it is a major step towards global leadership in cloud communications,” Vonage CEO Alan Masarek said.
“The addition of the TokBox team also brings a workforce of skilled technologists to help accelerate our pace of innovation. We are excited to welcome TokBox’s team to our growing Vonage family,” Masarek said.
TokBox currently has more than 2,300 customers in online education, finance, help desks, telemedicine, field services, broadcasting, social media and more. Approximately 1,700 mobile apps use TokBox’s software, it said.
“TokBox established itself early on as an industry leader based on the belief that the WebRTC standard had significant potential to drive a wave of innovation and value creation. As WebRTC has gained traction, our growth has been supported by the ability of our platform to simplify the integration of live video into websites and mobile apps for developers,” Scott Lomond, CEO of TokBox, said.
Perella Weinberg Partners L.P. served as financial advisor and Morrison & Foerster LLP served as legal counsel to Vonage. LionTree Advisors LLC served as financial advisor and Goodwin Procter LLP served as legal counsel to Telefonica.
