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.”