The market-leading software company has announced that it will acquire ECI Telecom Group Ltd. through a merger. ECI Telecom Group is an interesting acquisition for the company due to the fact that it offers IT solutions, cloud solutions, cybersecurity, data centers, and other similar activities. ECI is also known for being a provider globally for the entire spectrum of packed-optical transport with the inclusion of NFV/SDN solutions for enterprises, data center operators, and service providers. ECI started conducting business in 1961, serves 3,000 customers worldwide, and employs about 1700 workers. The acquisition came at a cost of 32.5 million Ribbon common stock shares and $324 million.
About two years ago, Sonus Networks INC and GENBAND merged to conduct business under the name of Ribbons Communications and the company has since continued to grow. The Board of Directors at Ribbon has appointed Kevin Riley as Executive VP and CTO, and Steven Bruny Executive VP of Global Sales and Services. The two businessmen were appointed as ‘interim co-presidents and CEOs.
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