Ribbon Communications

Last updated
Ribbon Communications
Nasdaq:  RBBN
Russell 2000 Component
IndustryTelecommunications
Predecessor
  • Genband
  • Sonus Networks
Founded2017;7 years ago (2017)
Headquarters
Plano, Texas
Key people
Bruce McClelland, CEO
Products
Website ribboncommunications.com

Ribbon Communications Inc. is a public company that makes software, IP and optical networking solutions for service providers, enterprises and critical infrastructure sectors. The company was formed in 2017, following the merger of Genband and Sonus Networks and is headquartered in Plano, Texas. [1]

Contents

History

Ribbon Communications was the combination of two companies, each of which had acquired other businesses over their history.

Ribbon Communications

Ribbon Communications was founded in October, 2017, following the merger of Genband and Sonus Networks in May. [2] Ray Dolan initially headed the combined company, while Walsh led the Kandy business unit. [3] By December, Dolan, who had led Sonus since 2010, resigned. [4] Franklin (Fritz) W. Hobbs was appointed as president and CEO of the combined organization [5] and served in that role until November 2019. [6]

In January 2018, the company announced that its session border controllers would be used in the virtual network services of Verizon. [7] In 2018 Ribbon also acquired Edgewater Networks. [8]

In November 2019, Ribbon announced it would acquire ECI Telecom from Shaul Shani for $486 million in cash and stock. [9] The company completed the merger in March 2020.

In February 2020, Bruce McClelland was named president, CEO and director. [10] [11] A years later, Ribbon moved its headquarters to Plano, Texas. [12]

In August 2020, AVCTechnologies announced an agreement to buy Kandy Communications Business. [13] The transaction was completed in December 2020.

Genband

General Bandwidth was founded in 1999 by Paul Carew, Brendon Mills, Ron Lutz and Steve Raich in Austin, Texas, and received initial venture capital funding of $12 million. The company raised over $200 million in four rounds of venture funding and grew to over 200 people by 2003. In 2004, Mills resigned and was replaced as CEO by Charles Vogt. [14]

In March 2006, General Bandwidth changed its name to Genband, Inc. and moved its headquarters to Plano, Texas. Genband started as a media gateway vendor selling the G6 media gateway, but eventually branched out to IP switching, IP applications, IP Multimedia Subsystem and session border controllers. [15] In August, 2006, Genband acquired Syndeo and Baypackets (headquartered in Fremont, California, with employees mostly in India). [16] In October, 2006 it acquired the digital central office products known as Siemens DCO. [17]

In 2007, Genband acquired Tekelec's switching group, which expanded product offerings in application software and SIP trunking gateways. In 2008, the company acquired Nokia Siemens Networks’ Surpass HiG media gateway product portfolio, including fixed-line trunking media gateways. The company concluded 2008 with the acquisition of NextPoint Networks, which included session border controller (SBCs) and security gateway offerings.

In May 2010, Genband purchased Nortel Networks' carrier VoIP and application business for an estimated net $182 million after Nortel became bankrupt. [18] [19] Existing shareholder One Equity Partners assisted in financing. [20] In June, 2010, Genband was re-incorporated as Genband, Inc, and disclosed an equity investment from executives and board members of about $4 million. [21] In December, 2010 it moved its headquarters to Frisco, Texas, keeping its Plano campus as a design center. Both are near Dallas, Texas. [22] In January, 2011, Genband acquired Cedar Point Communications in Derry, New Hampshire. [23]

In 2012, Genband acquired Aztek Networks, a switch maker specializing in hardware that allows for a smoother transition from legacy to IP networks. [24] Genband was named the top-ventured capital backed company by the Wall Street Journal out of nearly 6,000 companies that were considered. [25]

On February 12, 2013, Genband announced the launch of the NUViA Cloud offering which was their entry into the SaaS market. The NUViA Unified Communications as a Service (UCaaS) offering included HD voice, video, multimedia messaging, mobility, conferencing, Web collaboration, desktop clients, and fixed and mobile convergence hosted from datacenters run by the company around the globe. [26]

Also in 2013, Genband acquired Fringland Ltd., provider of the Fring! app, an over-the-top (OTT) mobile IP communications service provider. Two years later, it announced the Fring Alliance, a community promoting communications service providers to provide instant messaging, voice and video services to their subscribers. [27] Charles Vogt left Genband in 2013 and David Walsh added the CEO position to his other already held title of Chairman. [28]

In 2014, Genband acquired uReach Technologies, a provider of unified communications and messaging, and introduced unified communications products and services for business customers. [29]

In September 2014, Genband announced Kandy.io, cloud-based, real-time software support communications marketed as platform as a service (PaaS). [30]

In May 2015, Genband was named in CNBC's "disruptor" list. [31] In 2016, it was involved in a patent dispute with Metaswitch. [32] In September, 2016, pre-packaged software using the Kandy technology were announced, called "Kandy wrappers". [33]

Sonus Networks

Sonus Networks, Inc. was founded in August 1997 by Jay Pasco-Anderson, Karl Schwiegershausen, Michael G. Hluchyj, Rubin Gruber and Tony Risica.[ citation needed ] Hluchyj was chief technology officer, Gruber served as president until November 1998, when Hassan M. Ahmed became CEO and chairman. There were no revenues until the quarter ending in March 2000, with accumulated losses of about $50 million against $1.1 million revenues. [34]

On May 31, 2000, Sonus had its initial public offering (IPO), raising over $100 million. It was listed on Nasdaq with the symbol SONS. [34] At the time (near the end of the dot-com bubble), it was located in Westford, Massachusetts.

In January 2001, Sonus acquired Anousheh Ansari's firm Telecom Technologies, Inc., in an all-stock deal. Sonus subsequently integrated TTI's soft switch technology INtelligentIP into its own packet telephony suite. In 2008, Richard Nottenburg joined as chief executive. [35] A product called a network border switch was announced in 2003, and updated in 2006. [36]

In August 2012, Sonus acquired Network Equipment Technologies, Inc., for approximately $42 million. The acquisition complemented their existing SBC line with the NET UX series for SIP Trunking and SIP-based UC. [37]

On December 13, 2013, Sonus agreed to acquire Performance Technologies Inc entered into a definitive merger agreement, under which Sonus will acquire PT for $3.75 per share in cash, or approximately $30 million.[6] In 2014 Sonus acquired Performance Technologies, moving into the diameter signaling market. [38]

In 2016 Sonus Networks Inc., acquired Taqua expanding its soft switching portfolio. [39]

Kandy

Kandy is a cloud communications platform created by Genband in September 2014. [40] The Kandy platform includes Communications Platform as a Service (CPaaS) and Unified Communications as a Service (UCaaS) assets formerly known as NUViA. The platform also includes pre-built customer engagement tools, based on WebRTC technology, called Kandy Wrappers.  The platform offers white-labeled services to Communication Service Providers (CSPs) and Systems Integrators (SIs).  As such, Kandy Partners typically sell these to their end customers under their own brands.

Kandy was formed when GENBAND announced the launch of its real-time software development communications platform in September 2014. [41] [42] Initially only focused on CPaaS, the scope of the platform was quickly expanded to include GENBAND's Nuvia UCaaS offer, rebranded Kandy Business Solutions (KBS).  After the 2017 merger Ribbon Communications maintained the Kandy offerings and Kandy sub brand for its cloud portfolio.

On December 2, 2020, Ribbon Communications sold the Kandy assets to AVCtechnologies. AVCT issued to Ribbon units of securities consisting of convertible debentures in an aggregate principal amount of approximately $45 million and warrants to purchase an aggregate of approximately 4.5 million shares of AVCT's common stock for an exercise price of $0.01 per share. [43] On January 11, 2023, American Virtual Cloud and all of its affiliated subsidiaries, including AVCtechnologies and Kandy Communications, declared Chapter 11 bankruptcy. The company will continue to operate normally as 'debters-in-possession'. [44]

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References

  1. ↑ "Sonus Networks, Inc. Announces Completion of Sonus and GENBAND Merger" . Retrieved 2018-07-13.
  2. ↑ "Sonus Networks, Inc. Announces Completion of Sonus and GENBAND Merger" . Retrieved 2018-09-03.
  3. ↑ Dan Jones (May 23, 2010). "Sonus & Genband Finally Combine to Form $745M Company". Light Reading. Retrieved August 30, 2021.
  4. ↑ Iain Morris (December 14, 2017). "Ribbon Cuts Ties With Ray Dolan, Names New CEO". Light Reading. Retrieved August 27, 2021.
  5. ↑ Sharma, Ray. "Fritz Hobbs to Lead Ribbon as President and CEO" . Retrieved 2018-09-03.
  6. ↑ "Ribbon Communications (RBBN) Announces Departure of CEO Franklin Hobbs". StreetInsider.com. Retrieved 2020-01-20.
  7. ↑ "Verizon Offers SBC as a Service with Ribbon as Part of Virtual Network Services". UC Today. January 31, 2018. Retrieved August 30, 2021.
  8. ↑ "Ribbon Communications announces completion of Edgewater Networks acquisition". Press release. August 13, 2018. Retrieved August 23, 2021.
  9. ↑ "Ribbon Communications to buy ECI Telecom for $486m". Globes . November 14, 2019.
  10. ↑ "Former Arris CEO Bruce McClelland gets top job at Ribbon". FierceTelecom. Retrieved 2020-03-26.
  11. ↑ Inc, Ribbon Communications. "Ribbon Communications Inc. Announces Bruce McClelland as Its President, Chief Executive Officer and Director". www.prnewswire.com (Press release). Retrieved 2020-02-25.{{cite press release}}: |last= has generic name (help)
  12. ↑ Womack, Brian. "Boston area tech company worth over $1B quietly relocated its HQ to Plano this year". Dallas Business Journal.
  13. ↑ Carter, Rebekah (12 August 2020). "AVC Technologies Buys Ribbon's Kandy Communications". UC Today.
  14. ↑ "Mills Steps Down as General Bandwidth CEO". Austin Business Journal. September 20, 2004. Retrieved August 23, 2021.
  15. ↑ Richard Grigonis (August 29, 2006). "GenBand: Retooling for IMS". www.tmcnet.com. Retrieved August 30, 2021.
  16. ↑ Phil Harvey (August 30, 2006). "Genband Splashes Out for BayPackets". Light Reading. Retrieved August 25, 2021.
  17. ↑ "Genband buys Siemens DCO products". Fierce Enterprise Communications. October 5, 2006. Retrieved August 25, 2021.
  18. ↑ "Genband Integrates Nortel VOIP Products into Road Map". eWEEK. June 22, 2010. Retrieved August 27, 2021.
  19. ↑ Phil Harvey (February 24, 2010). "Genband Wins Nortel's Carrier VoIP Biz". Light Reading. Retrieved August 30, 2021.
  20. ↑ "Nortel to sell carrier VoIP businesses to Genband". Toronto Star. December 23, 2009. Retrieved August 30, 2021.
  21. ↑ "Form D: Notice of Exempt Offering of Securities". US Securities and Exchange Commission. June 10, 2010. Retrieved August 27, 2021.
  22. ↑ "Genband Opens New Worldwide Corporate Headquarters in Frisco, Texas". Press release. December 10, 2010. Archived from the original on May 3, 2012. Retrieved August 25, 2021.
  23. ↑ Tracy Ford (January 4, 2011). "Genband picks up Cedar Point for stronger VoIP position". RCR Wireless News. Retrieved August 24, 2001.
  24. ↑ "Genband buys Aztek Networks to bolster network transformation offering - FierceEnterpriseCommunications". Archived from the original on 2016-03-04. Retrieved 2015-10-14.
  25. ↑ Needleman, Sarah E. (27 September 2012). "Genband's Technology Makes It a Winner". Wsj.com. Retrieved 1 August 2018.
  26. ↑ "GENBAND Launches NUViA Cloud Offering".
  27. ↑ "Fring Alliance Aims to Become Carrier VoIP Cooperative". Communications and Technology Blog - Tehrani.com. Retrieved 1 August 2018.
  28. ↑ "GENBAND CEO Charlie Vogt to step down". FierceTelecom. Retrieved 2020-05-29.
  29. ↑ "Genband Expands Reach in UC Market With uReach Acquisition". Eweek.com. Retrieved 1 August 2018.
  30. ↑ Norman, Mike (September 26, 2014). "GENBAND Kandy: A Communications Platform as a Service". The Virtualization Practice. Archived from the original on September 27, 2014. Retrieved August 27, 2021.
  31. ↑ "Disruptor 50: No. 22 GENBAND". CNBC. 2015-05-12. Retrieved 2018-09-03.
  32. ↑ Ray Le Maistre (January 20, 2016). "Genband Wins Round 1 in Court Clash With Metaswitch". Light Reading. Retrieved August 25, 2021.
  33. ↑ "Kandy Celebrates Two Years of Significant Growth with a Differentiated Real Time Communications Platform Offering". Press release. September 22, 2016. Retrieved August 27, 2021.
  34. 1 2 "Prospectus for Sonus Networks, Inc". US Securities and Exchange Commission. May 24, 2000. Retrieved August 25, 2021.
  35. ↑ William Gardner (May 21, 2008). "Nottenburg Joins Sonus Networks As Chief Executive". Network Computing. Retrieved August 27, 2021.
  36. ↑ "Sonus Networks Introduces New Version Of Network Border Switch". Press release. August 2, 2006. Retrieved August 30, 2021.
  37. ↑ "Sonus Acquires Network Equipment Technologies". www.bizjournals.com. Retrieved 2018-09-03.
  38. ↑ "Sonus to Acquire Performance Technologies | Light Reading". Light Reading. Retrieved 2018-09-03.
  39. ↑ "Sonus Snaps Up Taqua for $20M". Light Reading. Retrieved 2018-09-03.
  40. ↑ "Genband Kandy: A New Development Platform Launches".
  41. ↑ "Genband's Kandy sweetens unified communications with PaaS". FierceWireless. Retrieved 2019-11-25.
  42. ↑ Egan, Bob. "GENBAND's New Kandy PaaS Could Become The Uber of Biz App Design". Forbes. Retrieved 2019-11-25.
  43. ↑ "AVCtechnologies Completes Strategic Acquisition of Ribbon's Kandy Communications" (Press release).
  44. ↑ "American Virtual Cloud Files for Chapter 11 Bankruptcy". The Wall Street Journal. January 11, 2023. Retrieved November 4, 2023.


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