Internet communications company Vonage Holdings said Wednesday that it's acquired TokBox, providers of programmable video services, for $35 million.
TokBox is a player in WebRTC programmable video sector, as its platform lets users integrate live video into their applications and websites. Its customers include Kickstarter and the Royal Bank of Scotland.
Vonage -- which focuses primarily on programmable SMS, voice and IP messaging services -- sees the acquisition as a way to expand its communications API platform with video capabilities, targeting developers and enterprises.
Vonage also hopes to use the deal to gain momentum as a general provider of B2B cloud communications services. The company said the B2B segment now makes up more than 50 percent of revenues.
"TokBox extends Vonage's ability to gain share in the fast growing CPaaS market with a set of interactive video APIs and a customer base that proves the value of programmable video communications," said Mark Winther, VP of telecom consulting for IDC.
Vonage's last notable acquisition came in 2016 when it bought CPaaS company Nexmo for $230 million. The company was known for its range APIs for messaging, voice and chat that let users create communications services without a lot of development. Nexmo is now integrated into Vonage as the Nexmo, the Vonage API Platform.
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