Mavenir has acquired Telestax, a Communications Platform as a Service (CPaaS) enablement and application provider for the communications industry.
This acquisition enhances Mavenir Engage, Mavenir’s messaging monetization and customer engagement offerings. Mavenir did not reveal financial details of the deal.
According to 451 Research’s Workforce Productivity & Collaboration 2021 CPaaS Market Monitor, total market revenue increased by well over 40 percent to $6.5 billion in 2020, and will account for roughly $21 billion in 2025, a CAGR of 26 percent.
Ian Maclean, SVP/GM Cloud Services at Mavenir, said: “With this acquisition, Mavenir is lowering the barrier of entry and democratizing business messaging for businesses of all sizes to implement conversational commerce experiences.”
Mavenir Engage messaging monetization and customer engagement provides CSPs, systems integrators and channel partners with RCS Business Messaging (RBM), messaging monetization capabilities, chatbots, campaign management, and access to different messaging ecosystems— such as Google RCS Business Messaging.