RICHARDSON, TEXAS- August 25, 2021- Mavenir, the global leader in mobile messaging and business messaging monetization solutions for service providers, announced today that it has acquired Telestax Inc., a leading global CPaaS enablement and application provider to the communications industry.
This acquisition enhances Mavenir Engage, Mavenir’s omni-channel messaging monetization and customer engagement platform, by enabling flexibility, specialization, and innovation in a SaaS model to better compete in the new digital economy while meeting the needs of businesses of all sizes across a broad spectrum of industry verticals.
“Communication Platforms are becoming a key differentiator for service providers,” said Pardeep Kohli, President and CEO, Mavenir. “They will unlock enterprise value in 5G with API enablement for different verticals such as IoT, Smart Cities, Automotive and provide turnkey applications for logistics, fleet mgmt., AI/ML chatbots, voice biometrics verification, immersive commerce/entertainment and many other use cases.”
“CPaaS is the key enabling technology for our Mavenir Engage service to position Communications Service Providers (CSPs) at the forefront of the digital engagement landscape.” said Ian Maclean, SVP/GM Cloud Services at Mavenir, “With this acquisition, Mavenir is lowering the barrier of entry and democratizing business messaging for businesses of all sizes to implement conversational commerce experiences.”
Clark Peterson, Chairman, Cloud Communications Alliance, said: “Telestax has been a key partner to help drive the transformation of the CPaaS industry. Being part of the Mavenir family brings the breadth of portfolio to add new capabilities and further advance innovative customer offerings in Cloud Communications.”
Jean Deruelle, co-founder and CTO, Telestax, said: “From our roots as an Open-Source communications disruptor that defined the CPaaS Enablement Market with the Restcomm API framework, we are incredibly excited to join forces and combine our capabilities with Mavenir’s extensive 5G and omnichannel messaging portfolio in the next step of our journey to keep helping carriers globally define the future of business communications.”
Q Advisors, a global TMT investment banking boutique, acted as exclusive financial advisor to Telestax.
Read the full announcement here.
“To say the Q Advisors team did an outstanding job would be a tremendous understatement. The work ethic, dedication and attention to detail this team puts forth is truly amazing and I will forever be in debt to them for going above and beyond what bankers do . We could never have closed this deal without the exceptional effort demonstrated by this team.Paul Doscher, CEO, Telestax