VTech Holdings plans to acquire Snom Technology.
Terms of the deal were not disclosed.
“VoIP is the future of business communication and the industry is now transitioning to a cloud-based unified communications environment. As a pioneer in this field, Snom is constantly developing new and advanced IP technology solutions to meet the needs of businesses worldwide,” said C.H. Tong, president of VTech. “The main synergies of the acquisition will be in hardware and software development, expanded market channels in VoIP telephony, and improvement in operational efficiency.”
“We are excited to be joining VTech which will support our continued focus on developing and supplying the best business telephones in the world,” added Andre Deloch, chairman of the Supervisory Board of Snom. “The combination of VTech and Snom will strengthen the product portfolios and technological leadership of both companies in VoIP industry.”
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