AT&T Inc. announced today that it has agreed, through one of its subsidiaries, to acquire privately held Interwise Inc., a leading global provider of voice, Web and video conferencing services to businesses. AT&T will pay approximately $121 million in cash for the company.
The transaction, which is expected to close in the fourth quarter, strategically aligns 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.
Following the acquisition, the company will operate as a business unit within AT&T Global Business Services, which serves the largest enterprises around the world and is led by Group President Ronald E. Spears. AT&T expects to retain Interwise’s management team and its domestic and international operations, including its R&D center in Israel.
The IP-collaboration solutions offered by Interwise will help customers increase the impact of their efforts by allowing employees to work on joint projects simultaneously with colleagues and partners, share information regardless of their location or device and make better business decisions,” Spears said.
Headquartered in Cambridge, Mass., Interwise provides converged, IP-based conferencing solutions for enterprises. In addition to offering on-premise and fully hosted conferencing, Interwise offers a hybrid solution that allows enterprises to receive the cost and security benefits of on-site software with the rapid startup, geographic reach and capacity protection of its hosted service.
AT&T Inc. www.att.com
Interwise Inc. www.interwise.com