Ribbon Communications completes acquisition of Edgewater Networks
Ribbon Communications Inc., a Massachusetts-based secure and intelligent cloud communications provider, announced it has closed the acquisition of Edgewater Networks Inc., a provider of network edge orchestration for the distributed enterprise and unified communications market. Terms of the deal were not disclosed.
“The acquisition of Edgewater Networks aligns perfectly with our strategic initiatives,” says Fritz Hobbs, president and chief executive officer at Ribbon Communications. “In addition to becoming a market leader in enterprise session border controllers, it allows us to immediately extend Edgewater solutions internationally, expand our cloud offerings, and enter the SD-WAN [software-defined wide area network] market.”
Daryl Raiford, Ribbon Communications’ chief financial officer, projected the acquisition will be immediately accretive to the company through fiscal year 2018. He plans to provide an update on the consolidated outlook for full year 2018 for both revenue and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), including Edgewater, on the company’s third quarter 2018 earnings call.
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