Two innovators in the enterprise collaboration market, Videxio and Pexip, have announced their intention to merge, the companies said.
Videxio, founded in 2011, is a global provider of cloud videoconferencing and collaboration with solutions that fit companies and organizations of all sizes, from start-ups to enterprises. The company has been profitable since 2014 and has grown annual recurring revenue (ARR) by more than 270 percent over the previous three years while paid user traffic has grown over 875 percent during the same period.
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. The company has been profitable since 2016 and has almost tripled ARR over the previous three years. Both organizations are privately held.
Upon finalization of the merger, the combined company will be called Pexip and will continue to serve more than 300 partners globally, and with users in more than 195 countries. It will be led by a strong leadership and founder team from both companies, with Odd Sverre Ãstlie as the 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. For more information, watch this video.