British Telecommunications Group Acquires Ribbit for $105,000,000

  • Feed Type
  • Date
    7/29/2008
  • Company Name
    Ribbit
  • Mailing Address
    2570 W. El Camino Real Mountain View, CA 94040
  • Company Description
    At the core of Ribbit’s technology is the Ribbit SmartSwitch™, a sophisticated multi-protocol soft-switch that bridges the worlds of traditional telephony with next generation networks and protocols.
    Business Innovation

    Ribbit is an open platform for telephony innovation. Unlike any other phone company, we are giving our developers unprecedented access to our technology, through the Ribbit API and allowing them to innovate at will. Our business is built more like a software company than a phone company. Rather than thinking we can do it all ourselves, we are counting on our developers to create the next generation communications solutions we have all been waiting for.

  • Website
    http://www.ribbit.com
  • Transaction Type
    M&A
  • Transaction Amount
    $105,000,000
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    BT Group Plc (BT-A.L), a provider of communications, solutions and services, said it acquired Silicon Valley-based telecommunication services provider Ribbit Corp. for $105 million in cash, on a cash-free, debt-free basis.