GENBAND and Sonus to merge to create $745m company
GENBAND has announced it is to merge with with Sonus to create a leader in next generation communications networking
The combination will see Sonus’ softwared-based real time communication virtualisation initiatives joined with GENBAND’s network modernisation and unified communications solutions in a new 50/50 owned company.
The merger will create a combined holding company valued at approximately $745 million, with around $40 million expected in annual cost synergies to be realised by the end of 2018.
Sonus boss Raymond Dolan will become chief executive officer of the new company, while current GENBAND CEO David Walsh will oversee the Kandy business, currently GENBAND’s cloud communications platform as a service (CPaaS) business.
GENBAND CFO Daryl Raiford will become CFO of the combined unit, with the rest of its leadership team to be named from the current senior staff at both companies.
“Together, Sonus GENBAND create a market leader in real time communications with enhanced capabilities to support our customers’ move to cloud-based solution,” said Dolan.