Managed and hosted VoIP provider M5 Networks will acquire Callfinity, a specialist in contact center software, in a move to expand what M5 can offer to midsize and enterprise-level businesses seeking off-premise call center solutions.
Financial terms of the deal were not disclosed. M5 plans to continue, market and support Callfinity's technology, according to the service provider.
"In acquiring Callfinity, we're acquiring a powerhouse combination of great contact center technology and contact center experts," said M5 CEO Dan Hoffman, in a statement. "Callfinity's intuitive contact center interface will augment our hosted, managed VoIP offering."
Jeff Valentine, Callfinity's president and CEO, will become senior vice president of marketing at M5, while Patrick Conroy, Callfinity's chief technology officer, will become vice president of technology, in charge of M5's largest clients.
"We're proud to be joining a team as innovative and committed to a managed customer service approach as the M5 team," Valentine said in a statement. "Our customers can expect the same Callfinity support and staff, but with the added benefit of M5's product set."
New York-based M5 was named to CRN's 2010 list of the 75 Coolest Telecom Service Providers and has been in an acquisitive mode as of late. In November, M5 acquired Geckotech, a hosted VoIP provider, for $8 million, in a move that created the largest specialized hosted VoIP company in the U.S.
The broader service provider space has been a magnet for M&A in the past year, from small deals between VoIP players and fiber carriers, to blockbusters like CenturyLink's recently completed acquisition of Qwest and the proposed $39 billion pickup by AT&T of T-Mobile USA.