Rich Technology Group has covered a lot of VOIP Service Provider Acquisition throughout this and last year. Some of the most excited ones included RingCentral’s acquisition of Mitel, Vonage’s agreement with Ericson, Sangoma acquiring Star2Star, and the most recent, the 8x8 acquisition of Fuse. Considering all of these changes and mergers in the Voiceover IP communication industry, Rich Technology Group can call it a season of VOIP Service Provider Acquisition.
What do all of these acquisitions mean for the industry?
With the events of 2018 and the global pandemic that followed later years, VOIP has gained a lot of rises. More and more people have started to work from home. Even the top industries have most of their people working from home, so it is safe to say that this is a new norm. Many VOIP service providers have learned and benefited from this new normal and tried to be on the top by working on different strategies and new methods. One of them is acquiring other small businesses to gain their expertise for mutual benefit.
Reasons for Acquisitions
Change in the VOIP market has caused people to fluctuate from the normal office culture and move towards remote working. This has led to advancements in technology supporting this VOIP working infrastructure.
In recent ucaas news and ccaas news VOIP service providers are being acquired left and right. Here is Sunita and my take on all of these recent acquisitions.
It’s VOIP Service Provider Acquisition Season!
1- Market Share
People need VOIP technology more than ever in this new work culture. Thus, there are a lot of companies that want more market share. For Instance, Zoom wanted to purchase Five9, RingCentral purchasing the rights and patents to Mitel, etc. As these companies know that they are not going away anytime soon, they are buying and acquiring more companies to increase their revenue and share of the market.
2- Keeping up with the Technology
A lot of providers did not keep up with the market, so they needed to be acquired to not only have new technology and trends to broader the scale and working methodologies but also generate more revenue and have a more advanced platform to help them keep delivering, maintaining, and serving their customers.
Rich Technology often receives calls from customers saying they want to switch from their existing service provider because of the old tech, poor customer service, lack of features, etc. Thus, with the pandemic and all the stuff going on, there are a lot of providers that can’t keep up with the competition and consider acquisition a better option.
Rich Technology Group considers the future of VOIP to be awesome. Considering the changes in the technology, it is expected to improve further and provide the best of the benefits to the users. With this, VOIP service providers will keep growing, and this acquisition of different companies will continue to be a trend.
VOIP Phones differ from each other depending upon the build quality, feature-friendliness, cost, number of service providers supported, etc. Although considering a VOIP phone as the best is relative to organizational needs, we have ranked it depending upon the popularity, sales, and price.
So, if you require one, you can directly reach these phone pages or get in touch with us. Moreover, if you have additional questions about these devices or are looking for special pricing depending upon your business requirement, feel free to reach out to us.
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