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Tuesday, 02 October 2007 13:57

AT&T to buy Interwise

Written by David Stellmack

Image

Web conferencing provider deal worth $121 million


 

AT&T, Inc. has announced that it will acquire privately held Interwise Inc., a U.S. global provider of voice, Web and video conferencing services to businesses, for approximately $121 million in cash. 

The deal will align Interwise’s IP-based conferencing and collaboration solution with AT&T's enterprise networking, communications and collaboration services, global MPLS-based IP network and its conferencing portfolio of services.  The deal is expected to close in the fourth quarter.

AT&T indicated that after the acquisition Interwise will operate as a business unit within AT&T’s Global Business Services. AT&T also indicated that it expects to retain the management team at Interwise as well as its domestic and international operations, including a research and development center located in Israel.

Frost & Sullivan, a technology industry research firm, has estimated that the global Web, audio and video conferencing business is worth about $5.9 billion annually and according to market trends will continue to grow.

Last modified on Tuesday, 02 October 2007 14:11

David Stellmack

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