Inteliquent (IQNT) Takes $9M Stake in Zipwhip
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Inteliquent, Inc. (Nasdaq: IQNT) announced it is part of a group making a combined $9 million investment in Zipwhip, the startup that made it possible for consumers to text businesses on their existing phone numbers.
Inteliquent’s strategic investment in Zipwhip coincides with the company’s increasing focus on enabling the next generation communications sector with the Omni IQSM suite of high quality voice, messaging and direct inward dial (DID) services. This exciting new product portfolio is fueling a range of innovative services for its Omni IQ customers to meet their need for intelligent, software-enabled networks. Collaborating with Zipwhip further extends the capabilities of Omni IQ, and provides businesses with a complete, one-stop-shop solution to transform how they use communications networks to reach their customers.
“We are excited to partner with Zipwhip, an innovator that is revolutionizing consumer-to-business texting and making a major impact on our industry,” said Brett Scorza, Inteliquent’s Chief Information Officer and Executive Vice President of Next Generation Services. “This investment furthers Inteliquent’s partnership with Zipwhip, extending our reach with joint sales opportunities, and enables both companies to expand their addressable markets by integrating capabilities into their respective product portfolio.”
Zipwhip will become a customer of Omni IQ and have access to the company’s extensive DID footprint, voice capabilities and Inter-Carrier SMS/MMS network. In a similar fashion, Inteliquent will integrate Zipwhip’s toll free number text enablement capability into Omni IQ. This will further enhance the value offered to the rapidly growing portfolio of next generation service providers by providing a comprehensive texting platform that includes toll free message capabilities. Additionally, the companies will explore other collaborative opportunities to strengthen their respective positions in the messaging and next generation communications marketplace.
“Inteliquent’s commitment to innovation and its reputation as one of the nation’s highest quality and most reliable voice and messaging networks is something we admire,” said John Lauer, Zipwhip’s Chief Executive Offer and Co-Founder. “We look forward to continuing to grow our business with the support of such a notable and innovative industry leader.”
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