BT hops to it, grabs Ribbit

29 Jul 2008

BT, the UK’s leading wireline operator, has announced the USD105 million purchase of Ribbit Corporation, a Silicon Valley-based ‘Telco 2.0’ platform company. Ribbit provides an open platform, allowing developers to create new and innovative voice applications and services by combining telephony and internet technologies. Managing director of service design at BT, JP Rangaswami, said: ‘Silicon Valley is emerging as a hotbed of telecommunications innovation. With Ribbit, not only do we extend our presence in the Valley, but we also gain a groundbreaking platform, a growing community of developers and a world-class team that share a common vision. Buying Ribbit lets us accelerate that vision.’

United Kingdom, BT Group (incl. Openreach)