Ooma Broadens SMB Customer Base with Acquisition

MSP TODAY NEWS

Ooma Broadens SMB Customer Base with Acquisition

By Greg Tavarez

Ooma is connecting its customers in smarter ways through its cloud-based software service platform and seeing positive financial results because of it. For Q2 2023, Ooma reported a 12% year-over-year increase in revenue, up to $52.7 million. Ooma’s adjusted EBITDA was $4 million, compared to $4.1 million in Q2 2022.

Ooma is expecting Q3 2023 total revenue to be in the range of $56 million to $56.5 million and is looking to add new businesses to the smart communications platform for businesses and consumers.

Whether you’re a single-location business looking to move on from your legacy communications system, or a multi-site business looking for a consistent, easy-to-manage communications experience across your organization, or something in between Ooma offers a business communications platform that embraces today’s evolving workforce.

It’s also looking to continue its growth and, to help accelerate that trajectory, Ooma acquired Junction Networks, which does business as OnSIP, from Intrado for about $9.75 million.

“We’re delighted to welcome OnSIP into the Ooma portfolio of business solutions,” said Eric Stang, CEO of Ooma. “OnSIP serves a marquee collection of approximately 50,000 primarily small business users and is well-respected for the ease of use and flexibility of its services and strong customer support.

OnSIP provides UCaaS solutions designed to make cloud communications approachable for small businesses, like Ooma Office. This allows customers to utilize modern communications tools to enhance their business while streamlining deployment and ongoing management. OnSIP customers choose between unlimited monthly plans and metered pay-as-you-go plans.

“We believe the acquisition of OnSIP is complementary to our strategy to extend our leadership in serving SMB customers and will accelerate overall growth of Ooma Business,” said Stang.

Through the acquisition, Ooma expects to bring more than $10 million in annual revenue via its SMB customer base.




Edited by Erik Linask

MSPToday Editor

SHARE THIS ARTICLE
Related Articles

MSPs Enable Enterprises to Accelerate Growth at Top Speed

By: Greg Tavarez    2/2/2023

MSP Expo Sponsor: MSPs are building their technical expertise to address customers' needs by merging with different sets of companies as the Managed S…

Read More

Pax8 Acquires Bam Boom Cloud, Deepening Microsoft Dynamics 365 Expertise

By: Reece Loftus    2/2/2023

Pax8 announced it has acquired Bam Boom Cloud, an award-winning Microsoft Dynamics 365 Business Central services organization.

Read More

Pax8 Expands Horizons Bringing in Rob Rae to Champion MSP Power Initiatives

By: Arti Loftus    2/1/2023

Pax8 today announced that Rob Rae, a highly regarded and influential innovator in the IT channel market, has joined the company as Corporate Vice Pres…

Read More

Codex IT Reaches Wasatch Front Through Intranet Consulting Acquisition

By: Greg Tavarez    2/1/2023

Codex IT is expanding its services along the Wasatch Front and the rest of Utah through its acquisition of Intranet Consulting.

Read More

GFI Software Named a Platinum Sponsor for MSP Expo 2023, Part of the #TECHSUPERSHOW

By: TMCnet News    1/31/2023

MSP Expo is the premier conference and networking summit for MSPs. This is where MSP business owners and technology specialists share strategies to gr…

Read More