Videxio and Pexip have announced their intention to merge. Videxio, founded in 2011, is a global provider of cloud videoconferencing with solutions that fit companies and organizations of all sizes, from start-ups to enterprises. Pexip, founded in 2012, provides a software-based meeting platform that is designed for cloud and used both as a dedicated enterprise application and a service provider platform.
“The collaboration market is estimated to have a value of $35 billion US dollars and is growing at 26 percent annually, as enterprises adopt cloud technology at a rapid pace. Due to the accessibility of cloud-based collaboration services, more organizations than ever before have access to visual communication tools,” Odd Sverre Østlie, CEO of Pexip, said. “We know that many organizations prefer a dedicated deployment with tight integration into their IT network, and over time, want to combine this with cloud scalability. Others prefer a flexible public cloud service. A merger between Videxio and Pexip will put us in a unique position to offer a product portfolio that will meet the needs of a broader range of users, while we continue to introduce innovative solutions to the market. The joint sales and channel organization will ensure wider coverage, while the more diversified customer base will create an even more sustainable and robust business offering.”
Upon finalization of the merger, the combined company will be called Pexip. It will continue to serve more than 300 partners globally, with users in more than 195 countries. It will be led by the founder teams from both companies, with Odd Sverre Østlie as the CEO. Tom-Erik Lia will take on the role as Chief Commercial Officer.
The transaction is expected to be completed by the end of this year, following regulatory clearances and shareholder approval. For more information, watch the companies’ announcement video.