Two companies in the enterprise collaboration market, Videxio and Pexip, today announced their intention to merge. Videxio, founded in 2011, is a provider of cloud videoconferencing and collaboration with solutions that fit companies and organizations of all sizes, from start-ups to enterprises. Pexip, founded in 2012, provides a software-based meeting platform that is designed for cloud and used both as a dedicated enterprise application and a service provider platform. Pexip Infinity is a Microsoft-certified interoperability solution for both Skype for Business and Microsoft Teams. In 2018, Google Cloud partnered with Pexip to enable interoperability to Google Hangouts Meet. Both organizations are privately held.
“The collaboration market is estimated to have a value of $35 billion U.S. dollars and is growing at 26 percent annually as enterprises adopt cloud technology at a rapid pace. Due to the accessibility of cloud-based collaboration services, more organizations than ever before have access to visual communication tools,” said Odd Sverre Østlie, CEO of Pexip. “We know that many organizations prefer a dedicated deployment with tight integration into their IT network, and over time want to combine this with cloud scalability. Others prefer a flexible public cloud service. A merger between Videxio and Pexip will put us in a unique position to offer a product portfolio that will meet the needs of a broader range of users while we continue to introduce innovative solutions to the market. The joint sales and channel organization will ensure wider coverage, while the more diversified customer base will create an even more sustainable and robust business offering.”
Upon finalization of the merger, the combined company will be called Pexip and will continue to serve more than 300 partners globally and users in more than 195 countries. Odd Sverre Østlie will become the CEO, while Videxio CEO Tom-Erik Lia will take on the role as chief commercial officer.
The transaction is expected to be completed by the end of 2018, following regulatory clearances and shareholder approval.
Click here to watch a short video recorded by the two companies’ CEOs.