Russell 2000 Component
|Bruce McClelland, CEO|
Ribbon Communications US LLC is a public company that makes IP-based real-time communication security and software products and services for fixed wireline, mobile, and cable service providers as well as large enterprises. The company was formed in 2017, following the merger of Genband and Sonus Networks and is headquartered in Westford, Massachusetts.
Ribbon Communications was the combination of two companies, each of which had acquired other businesses over their history.
General Bandwidth was founded in 1999 by Paul Carew, Brendon Mills, Ron Lutz and Steve Raich in Austin, Texas and received initial venture capital funding of $12 million. The company raised over $200 million in four rounds of venture funding and grew to over 200 people by 2003. In 2004, Mills resigned and was replaced as CEO by Charles Vogt.
In March 2006, General Bandwidth changed its name to Genband, Inc. and moved its headquarters to Plano, Texas. Genband started as a media gateway vendor selling the G6 media gateway, but eventually branched out to IP switching, IP applications, IP Multimedia Subsystem and session border controllers. In August, 2006, Genband acquired Syndeo and Baypackets (headquartered in Fremont, California, with employees mostly in India). In October, 2006 it acquired the digital central office products known as Siemens DCO.
In 2008, the company acquired Nokia Siemens Networks’ Surpass HiG media gateway product portfolio, including fixed-line trunking media gateways. In August, 2008, BroadSoft acquired the M6 communications appliance server (fornerly known as VocalData) business. The company concluded 2008 with the acquisition of NextPoint Networks, which included session border controller and security gateway offerings. NextPoint had been just recently formed from the merger of NexTone Communications and Reef Point Systems (which had been called Quarry Technologies).
In May, 2010, purchased Nortel Networks' carrier VoIP and application business for an estimated net $182 million after Nortel became bankrupt. Existing shareholder One Equity Partners assisted in financing. In June, 2010, Genband was re-incorporated as Genband, Inc, and disclosed an equity investment from executives and board members of about $4 million. In December, 2010 it moved its headquarters to Frisco, Texas, keeping its Plano campus as a design center. Both are near Dallas, Texas. In January, 2011, Genband acquired Cedar Point Communications in Derry, New Hampshire.
In 2012, Genband acquired Aztek Networks, a switch maker specializing in hardware for a smoother transition from legacy to IP networks. In September, 2012 it was named the top-ventured capital backed company by the Wall Street Journal.
In 2013, Genband acquired Fringland Ltd. for an estimated $50 million, providing the Fring! app, marketed as mobile over-the-top media service. CEO Vogt left Genband in 2013 and David Walsh added the CEO position to his title of chairman.
In 2014, Genband acquired uReach Technologies, a provider of unified communications and messaging, and introduced unified communications products and services for business customers. In September 2014, Genband announced Kandy.io, cloud-based, real-time software support communications marketed as platform as a service (PaaS).
In May 2015, Genband was named in CNBC’s "disruptor" list. In 2016, it was involved in a patent dispute with Metaswitch. In September, 2016, pre-packaged software using the Kandy technology were announced, called "Kandy wrappers".
Sonus Networks, Inc. was founded in August 1997 by Jay Pasco-Anderson, Karl Schwiegershausen, Michael G. Hluchyj, Rubin Gruber and Tony Risica. Hluchyj was chief technology officer, Gruber served as president until November 1998, when Hassan M. Ahmed became CEO and chairman. There were no revenues until the quarter ending in March 2000, with accumulated losses of about $50 million against $1.1 million revenues.
On May 31, 2000, Sonus had its initial public offering (IPO), raising over $100 million. It was listed on Nasdaq with the symbol SONS. At the time (near the end of the dot-com bubble), it was located in Westford, Massachusetts.
In January 2001, Sonus acquired Anousheh Ansari's firm Telecom Technologies, Inc., in an all-stock deal. Sonus subsequently integrated TTI's softswitch technology INtelligentIP into its own packet telephony suite. In 2008, Richard Nottenburg joined as chief executive. A product called a network boarder switch was announced in 2003, and updated in 2006.
In August 2012, Sonus acquired Network Equipment Technologies, Inc., for approximately $42 million. The acquisition complemented their existing SBC line with the NET UX series for SIP Trunking and SIP-based UC.
On December13, 2013, Sonus agreed to acquire Performance Technologies Inc entered into a definitive merger agreement, under which Sonus will acquire PT for $3.75 per share in cash, or approximately $30 million. In 2014 Sonus acquired Performance Technologies, moving into the diameter signaling market.
In 2016 Sonus Networks Inc., acquired Taqua expanding its softswitching portfolio.
Ribbon Communications was founded in October, 2017, following the merger of Genband and Sonus Networks in May. Ray Dolan initially headed the combined company, while Walsh led the Kandy business unit. By December, Dolan, who had led Sonus since 2010, resigned.Franklin (Fritz) W. Hobbs was appointed as president and CEO of the combined organization and served in that role until November 2019. In 2018 Ribbon acquired Edgewater Networks.
In January 2018, the company announced that its session border controllers would be used in the virtual network services of Verizon. In November 2019, Ribbon announced it would acquire ECI Telecom from Shaul Shani for $486 million in cash and stock.
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