Vonage is taking it voice and messaging platform into some new territory this summer. Today the company announced the purchase of San Francisco-based TokBox from Telefonica.
TokBox's specialty is WEBRTC programmable video, which means they provide developers with a streamlined path to integrate live video into sites, apps, and devices. They currently serve more than 2,300 customers, with The Royal Bank of Scotland, InTouch Health, KickStarter and Chegg heading that list.
Vonage will be integrating TokBox's technology into its own API, adding significant programmable video capabilities to their communications platform. They will also benefit from the fresh influx of new talent with the integration of the TokBox team.
Vonage spent $35M on the purchase in a combination of cash and assumed liabilities. They financed the deal through their existing revolver. Telefonica had originally bought TokBox back in 2012.