Fuze Joins ThinkingPhones

Announced on twitter probably before anywhere else: ThinkingPhones buys Fuze.

Formerly known as Thinking Phone Networks, ThinkingPhones is a Hosted UC company with $88 million in venture money. They used some of those funds to buy a video conferencing company, Fuze, to add video to their portfolio.

“Based in San Francisco with additional offices in Palo Alto and Seattle, Fuze helps distributed teams work across distances through HD-quality voice and video conferencing and content sharing across devices, desktops, and meeting rooms. More than 100,000 companies use Fuze to make meetings more meaningful, including Groupon, Starbucks, Macys.com, and Thoughtworks.” [Y!]

“Prior to the acquisition, San Francisco-based Fuze raised $68.5 million!” Lot of combined VC money there. Let’s hope the bet to add Fuze to the UC bundle will pay off in ThPh’s “vision for unifying communication in the enterprise”.

Apparently, it is a scale-able platform. “The Fuze team has built a powerful video conferencing platform utilized by more than 6.5 million users,” added Derek Yoo, co-founder and CTO of ThinkingPhones. [pr]

This is ThPh’s third acquisition in the past year. They bought Whaleback and Contactive.

“Within the first half of 2015, ThinkingPhones saw a 150 percent increase in net new customer sales over the first half of 2014. The company grew its physical presence, with new office locations in New York City; London; Paris; Copenhagen; Zurich; and Aveiro, Portugal as part of its continued global expansion strategy. With 300 new hires joining the company between January and September, the company also raised its total headcount to more than 550 employees globally.” [pr]
That is a lot of people!! 550 at $100K in rev per employee is at least $55M in annual revenue for ThPh.

Always nice to see M&A in the sector.

Tags: cloud communications, mergers, UC, video conferencing
Related tags: video conferencing, thinkingphones, company, video, million, conferencing