Monday, July 28, 2008

BT Acquires Ribbit for Telco 2.0 Platform

BT has acquired Ribbit Corporation, a Silicon Valley-based start-up that developed a "voiceware" platform that combines telephony and the Internet, for $105 million in cash.


Ribbit's open platform which enables developers to create new and innovative voice applications and services. For example, using Ribbit, developers have integrated voice into salesforce.com and built voice applications that run directly from Facebook or iGoogle. Ribbit said it has attracted thousands of developers since its launch earlier this year. The company is currently testing a consumer application scheduled for general release later this year.


The foundation of the platform is the Ribbit SmartSwitch, a multi-protocol carrier-grade, CLASS 5 soft switch and an open Flash/Flex-based API .


BT said the acquisition will accelerate its strategy to transform itself into a next- generation, platform-based, software-driven services company. Specifically, the acquisition of the Ribbit platform will complement BT's existing capability in the software platform space with its award-winning Software Development Kit (SDK) initiative. BT's SDKs enable developers to integrate new applications with BT's services using a single line of code. Ribbit, which will maintain its management team and identity, will extend its global footprint by becoming part of BT.


Michael Boustridge, President, BT Americas said: "The Ribbit platform makes it simpler, cheaper and faster to build communications functionality into applications, enabling developers to introduce new revenue-generating voice services in hours, rather than weeks. By combining the Ribbit platform with BT's existing web services, we have the potential to deliver some of the world's finest applications for communications innovation benefiting consumers and businesses alike."


http://www.btplc.comhttp://www.ribbit.com/

  • Ribbit Corporation was founded in February 2006 and funded by venture capital firms Alsop Louie Partners, Allegis Capital, KPG Ventures and Peninsula Ventures.

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