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The two companies, successful in their own right, plan to join forces to create an industry powerhouse that will offer a unique range of collaboration products and services
Oslo, Norway, October 8th, 2018 – Two leading innovators in the enterprise collaboration market, Videxio and Pexip, today announced their intention to merge. Videxio, founded in 2011, is a global provider of cloud video conferencing and collaboration with solutions that fit companies and organizations of all sizes, from start-ups to enterprises. The company has been profitable since 2014 and has grown Annual Recurring Revenue (ARR) by more than 270% over the previous three years while paid user traffic has grown over 875% during the same period. Pexip, founded in 2012, provides a software-based meeting platform that is designed for cloud and used both as a dedicated enterprise application and a service provider platform. Pexip Infinity is a Microsoft-certified interoperability solution for both Skype for Business and Microsoft Teams. In 2018, Google Cloud partnered with Pexip to enable interoperability to Google Hangouts Meet. The company has been profitable since 2016 and has almost tripled ARR over the previous three years. Both organizations are privately held.
“The Collaboration market is estimated to have a value of $35 billion US dollars and is growing at 26% annually as enterprises adopt cloud technology at a rapid pace. Due to the accessibility of cloud-based collaboration services, more organizations than ever before have access to visual communication tools,” said Odd Sverre Østlie, CEO of Pexip. “We know that many organizations prefer a dedicated deployment with tight integration into their IT network, and over time want to combine this with cloud scalability. Others prefer a flexible public cloud service. A merger between Videxio and Pexip will put us in a unique position to offer a product portfolio that will meet the needs of a broader range of users while we continue to introduce innovative solutions to the market. The joint sales and channel organization will ensure wider coverage, while the more diversified customer base will create an even more sustainable and robust business offering.”
“As one of the Co-Founders of Videxio, I am extremely excited at the prospect of this merger,” said Tom-Erik Lia, CEO of Videxio. “The two companies are a great fit from a technology standpoint, as well as a people and culture perspective. We will continue to offer and develop the existing product portfolio while building on the best elements from both companies. We have an outstanding team and for them, the merger will create an exciting environment filled with new challenges and opportunities to grow, develop and innovate. Our channel partners will gain access to a broader portfolio of products and services to best address their customers’ collaboration requirements while our customers will enjoy a wider range of solutions and continued innovation.”
Upon finalization of the merger, the combined company will be called Pexip and will continue to serve more than 300 partners globally, and with users in more than 195 countries. It will be led by a strong leadership and founder team from both companies, with Odd Sverre Østlie as the CEO. Tom-Erik Lia will take on the role as Chief Commercial Officer.
The transaction is expected to be completed by the end of 2018, following regulatory clearances and shareholder approval.
About Videxio
Videxio is a video service provider. Through our reseller partners, we make it easy for organizations of any size to use professional video communications. The unique architecture and operation of Videxio’s cloud-based service allows individual users and businesses to be operational in minutes. Videxio has head office locations in Oslo, Norway, and Reston VA USA and sales offices across the world. To learn more, visit videxio.com.
About Pexip
Founded in 2012 and privately owned, Pexip enables enterprises and organizations to provide video-based communication and collaboration to all employees.
The Pexip Infinity cloud enterprise application enables seamless collaboration between incompatible video and audio technologies such as professional video conferencing, Skype for Business, Google Hangouts Meet, and WebRTC. The platform provides unmatched capacity and interoperability and is designed for deployment in clouds such as Microsoft Azure, AWS, or Google Cloud Platform, and can also be deployed on-premises in an organization’s data center.
Pexip has main offices in Oslo, London, Sydney, and New York.
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