BT spent $105 million on the acquisition of Ribbit

This IT news is provided from the One Net Technology Limited

BT in the U.S. eastern time on July 29 announced that it has acquired “Telco 2.0″ platform companies Ribbit Corporation which is headquartered in Silicon Valley with 105 million U.S. dollars in cash, no credit, no debt . The acquisition will accelerate the transition strategy to become a new generation of service company based on platform and software.
Headquartered in Mountain View, California, the Ribbit – “the first telephone company in Silicon Valley” – to provide a platform to open new ways of telephone and Internet technologies together to enable developers to create innovative New voice applications and services.

BT’s general manager of design services JP Rangaswami said: “Silicon Valley is becoming a hotbed of telecommunications innovation. Ribbit acquisition, we can not only expand the market performance in Silicon Valley, but also access to its groundbreaking platform, the development of the developer community and A common vision of a world-class team. Ribbit on the acquisition will help us speed up the realization of this vision. “

Ribbit CEO Ted Griggs said: “The communications industry is entering a new stage. Now the network is closed in the open platform changes, developers are making great efforts to promote innovation. Ribbit in the ability to add to a strong BT 21CN global platform, we will be able to on a global scale for the developer community to provide the innovative tools they need. We are very pleased – BT is exactly what we have been looking for partners. “

Ribbit developers can make use of voice and automated platform will add features to almost all Web-based applications or in the community. For example, with Ribbit platform, developers have successfully integrated into the voice salesforce.com, also established a Facebook or directly from the iGoogle launch voice applications. Since its establishment, Ribbit has attracted thousands of developers, and enterprise software market also launched a unique innovative solutions, and has begun testing scheduled for release later this year a comprehensive consumer applications.

With BT’s award-winning software development kit (SDK) plan, the Ribbit platform with the acquisition of BT in the software platform space supplement the existing capacity. Through BT’s SDK, developers can simply use a single line of code will be a new application and integration of BT’s services. Ribbit will retain the existing management team and its identity, the merger of businesses in 170 countries, ranks among the world’s leading communications solutions provider with the list of BT, will Ribbit been able to expand its global scale.

BT Americas President Michael Boustridge said: “Ribbit platform for communication and application of the combination of easier, cheaper and more quickly, Pingci developers in a few hours will be able to launch new revenue-generating voice services, rather than the original A few weeks. Ribbit platform by BT and the existing network integration services, we will have the potential to provide some of the world’s best communications innovative applications, so that consumers and businesses have benefited. “

Ribbit Corporation was established in February 2006, its investors are the venture capital firm Alsop Louie Partners, Allegis Capital, KPG Ventures and Peninsula Ventures. Ribbit is bought from these investment companies and Ribbit shareholders (including the founders and employees).