Ooma Acquires OnSIP, For $9.75M in Cash
Ooma, Inc. (NYSE: OOMA), a Sunnyvale, CA-based smart communications platform for businesses and consumers, acquired Junction Networks Inc., which does business as OnSIP, a provider of cloud-based phone and unified communications services for small and mid-sized businesses, for approximately $9.75m in cash, subject to customary working capital adjustments.
The seller in the deal, which was completed on July 22, 2022, was Intrado Corp.
OnSIP is expected to add slightly more than $10 million in annual revenue to Ooma.
Founded in 2004, OnSIP provides UCaaS solutions designed to make cloud communications approachable for small businesses, allowing customers to utilize modern communications tools to enhance their business while streamlining deployment and ongoing management. OnSIP customers can choose between unlimited monthly plans and metered “pay as you go” plans.
Led by Eric Stang, chief executive officer, Ooma creates connected experiences for businesses and consumers, delivered from its smart cloud-based SaaS platform. For businesses of all sizes, the company provides advanced voice and collaboration features including messaging, intelligent virtual attendants, and video conferencing to help them run more efficiently. For consumers, Ooma’s residential phone service provides PureVoice HD voice quality, advanced functionality and integration with mobile devices.
Ooma Acquires OnSIP, For $9.75M in Cash.Congratulations to the entire team. I wish you great success in this endeavour.Shishir Gupta, Founder and CEO, StartupLanes
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