Ribbon Communications Signs Agreement to Acquire Business and Technology Assets of Anova Data
WESTFORD, Mass., Feb. 4, 2019 /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global software leader in secure and intelligent cloud communications, today announced that it has agreed to purchase the business and technology assets of Anova Data, Inc., a leading provider of advanced analytics solutions. Anova Data is based in the U.S. and its Next Generation (NextGen) products provide a cloud-native, streaming analytics platform for network and subscriber optimization and monetization. These products in combination with existing Ribbon solutions are expected to deliver mobile, fixed and enterprise customers an enhanced suite of applications that utilize big data analytics and machine learning to provide prescriptive insights on subscriber behavior and network performance. With these newly combined solutions, Ribbon believes it can better engage customers with expanded offerings to open new revenue streams, provide advanced service assurance, and improve overall subscriber experiences.
"These assets perfectly complement our existing security and analytics platform, Ribbon Protect," said Fritz Hobbs, President and Chief Executive Officer of Ribbon Communications. "Anova Data's cloud-native solutions, which already boast several global Tier 1 deployments, are expected to help us further expand our offerings to mobile service providers with a comprehensive solution set that combines subscriber-level analytics with real-time network optimization and intelligence."
"Our powerful machine learning (ML) and artificial intelligence (AI) analytics solutions have been successful in helping our global Tier 1 mobile service provider customers gain the insightful, actionable intelligence that allows them to deliver enhanced subscriber experiences, while maximizing network efficiencies," said John St. Amand, Chief Executive Officer of Anova Data. "This acquisition allows us to capitalize on both Ribbon's global presence and large service provider customer base, while dramatically expanding the reach of Anova Data's offerings."
The proposed acquisition reinforces and extends Ribbon's strategy to expand into network optimization, security and data monetization via big data analytics and machine learning. As the complexity and scale of network operations continue to grow, big data analytics and machine learning are central to efficient, reliable operations and new revenue generation. Anva Data's solutions are a logical fit with Ribbon's security and analytics platform, Ribbon Protect. The combination delivers a robust, end-to-end solution for real time communications (RTC) and IP data service assurance, security, optimization and monetization.
The transaction is expected to close in the first quarter of 2019, subject to customary closing conditions. Under the terms of the purchase agreement, the equity owners of Anova Data will receive at closing an aggregate of 3.3 million shares of Ribbon common stock in exchange for substantially all of the assets and liabilities of Anova Data. Ribbon does not expect that the acquisition will materially affect its financial results in 2019.
About Anova Data
Anova Data's web-scale analytics solutions unleash the full value of subscriber and network data insight, enabling operators to get ahead of unprecedented subscriber data growth and take back control of their networks. Anova Data's Monetization Insight is part of a broad portfolio of analytics that drive significant financial performance for operator top-line growth, middle-line experience management, and bottom-line savings through real-time or in-time insights.
About Ribbon Communications
Ribbon Communications is a company with two decades of leadership in real-time communications. Built on world-class technology and intellectual property, the company delivers intelligent, secure, embedded real-time communications for today's world. The company transforms fixed, mobile and enterprise networks from legacy environments to secure IP and cloud-based architectures, enabling highly productive communications for consumers and businesses. With a global footprint, Ribbon's innovative, market-leading portfolio empowers service providers and enterprises with rapid service creation in a fully virtualized environment. The company's Kandy real-time communications software platform delivers a comprehensive set of advanced embedded and unified (CPaaS and UCaaS) communications capabilities that enables this transformation. To learn more, visit ribboncommunications.com.
Important Information Regarding Forward-Looking Statements
The information in this release contains forward-looking statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are regarding future events that involve risks and uncertainties, including statements regarding delivering value to customers. All statements other than statements of historical facts contained in this release are forward-looking statements, including the statements regarding the acquisition of Anova Data's assets and liabilities, the time frame in which this acquisition is expected to occur, satisfaction of closing conditions, the expected benefits to Ribbon Communications from the acquisition, including benefits to customers, the introduction of new solutions, and statements regarding expected future financial performance. Ribbon Communications' actual results may differ materially from those contemplated by the forward-looking statements in this press release.
Additionally, various risks and uncertainties could affect Ribbon Communications' actual results and cause such results to differ materially from those contemplated by the forward-looking statements, including, without limitation, Ribbon Communications' ability to complete the transaction in the time frame expected or at all; Ribbon Communications' success integrating the business of Anova Data; Ribbon Communications' ability to realize the anticipated benefits from the transaction; the effects of disruption from the transaction, making it more difficult to maintain relationships with employees, customers, business partners or government entities; economic conditions; difficulties leveraging market opportunities; difficulties providing solutions that meet the needs of customers; market acceptance of our products and services; and rapid technological and market change. For further information regarding risks and uncertainties associated with Ribbon's business, please refer to the "Risk Factors" section of Ribbon's most recent annual report filed with the SEC. Any forward-looking statements represent Ribbon's views only as of the date on which such statement is made and should not be relied upon as representing Ribbon's views as of any subsequent date. While Ribbon may elect to update forward-looking statements at some point, Ribbon specifically disclaims any obligation to do so.
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