Ribbon Communications Inc. a publicly traded company that develops secure and intelligent cloud communications has reportedly agreed to acquire Anova Data’s business and technology assets, in a bid to expand its offerings.
For the record, Anova Data is a U.S.-based provider of advanced analytics solutions. Its Next-Gen products offer a native cloud application, streaming analytics platform compatible for network and monetization and subscriber optimization. These products when combined with Ribbon’s existing solutions are estimated to deliver mobile, fixed, and enterprise customers an improved set of applications that use big data analytics as well as machine learning to offer prescriptive insights pertaining to subscriber behavior and network performance.
Using these combined solutions, Ribbon Communications believes it can engage customers better through expanded product portfolio to open new revenue streams, offer advanced service assurance, and enhance overall subscriber experiences, cited credible sources.
According to sources familiar with the development, the proposed acquisition strengthens and extends Ribbon’s strategy to grow into network optimization, data monetization, and security through big data analytics and machine learning. Moreover, these elements are central to efficient, reliable operations, and new profit generation as the complexity and scale of network operations continue to grow.
Fritz Hobbs, President and CEO of Ribbon Communications stated that Anova’s assets go along perfectly with the company’s existing security and analytics platform.
He further mentioned that Anova Data’s cloud-native services, which already flaunt many global Tier 1 deployments, are anticipated to help the company further develop its contributions to mobile service providers with abroad set of solutions that combines subscriber-level analytics along with real-time network optimization and intelligence.
Reportedly, the transaction is anticipated to close within the first quarter of 2019 and is subject to customary closing conditions. As per the terms of the agreement, at closing, Anova Data’s equity owners will receive an aggregate of 3.3 million shares of Ribbon common stock in consideration of the company’s complete assets and liabilities, reported sources.