Ribbon to Deliver Carrier-Grade Unified Communications as a Service to the IBM Cloud for Financial Services
Ribbon Communications (Nasdaq: RBBN) announced its integration into the IBM Cloud for Financial Services ecosystem on Sept. 10, 2020. This partnership aims to provide financial institutions with secure cloud-based Unified Communications as a Service (UCaaS) offerings through its Kandy Business Solutions. The IBM Cloud platform assists in secure migration for sensitive operations, streamlining communication services. Ribbon's legacy in delivering cloud communication solutions positions it to enhance operational efficiency for financial institutions.
- Ribbon joins the IBM Cloud for Financial Services ecosystem, enhancing its market reach.
- The collaboration aims to provide secure UCaaS offerings to financial institutions.
- Ribbon's Kandy Business Solutions expands its service capabilities in the financial sector.
- Ribbon is in the process of selling its Kandy Communications business, which may lead to operational disruptions.
WESTFORD, Mass., Sept. 10, 2020 /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real time communications software and packet and optical transport solutions to service providers, enterprises, and critical infrastructure sectors, today announced it has joined the IBM Cloud for Financial Services ecosystem and intends to onboard its Unified Communications as a Service (UCaaS) offering to the platform. The IBM Cloud for Financial Services is designed to help institutions safely migrate their sensitive operations to the cloud and take advantage of cloud-native technologies from IBM's Independent Software Vendor (ISV) and Software-as-a-Service (SaaS) vendor partners.
Ribbon's Kandy Business Solutions will provide financial institutions with a full suite of cloud-based Unified Communications (UC) services (Cloud PBX, Cloud Collaboration, Cloud Contact Center, SIP Trunks) and clients like chat, video, voice and text, enabling the seamless transition of business communications to the cloud.
"We are excited to expand our relationship with Ribbon Communications by helping to onboard its Kandy Business Solutions to the IBM Cloud for Financial Services," said Evaristus Mainsah, General Manager, Cloud, Cloud Pak and Edge Ecosystem, IBM. "Ribbon's offering can help financial institutions transform their business communications with a safe platform. Ribbon's participation in our ecosystem helps to provide financial services customers with innovative tools and solutions that enable them to move their operations to the cloud."
"Becoming a UCaaS vendor for the IBM Cloud for Financial Services is just the latest extension of our relationship, which has delivered advanced cloud communications services to world-class organizations," said Sacha Gera, Senior Vice President for Ribbon's Kandy. "Our secure, carrier-grade call control and security solutions are already deployed in the networks of some of the largest financial services institutions in the world. Now we can deliver our industry-leading UCaaS capabilities to even more financial institutions via IBM's industry-first cloud for financial services platform, which significantly simplifies deployment without sacrificing the reliability or security these organizations require."
The IBM Cloud for Financial Services was designed to help stakeholders of financial services institutions address their regulatory compliance, security and resiliency obligations. This is designed to help financial institutions transact with technology vendors who have met the platform's stringent requirements.
Key Takeaways:
- Ribbon has joined the IBM Cloud for Financial Services ecosystem to provide financial institutions a secure way to leverage its UCaaS offerings.
- The IBM Cloud for Financial Services is an industry-first platform designed to enable financial institutions to securely migrate sensitive operations to the public cloud and transact with technology vendors.
- IBM and Ribbon have a longstanding relationship and previous success in deploying large scale public cloud UCaaS projects in the retail and government sectors.
- Ribbon's Kandy Business Solutions will deliver IBM financial services customers a full suite of secure, carrier-grade cloud-based UC services.
- Ribbon's real time communications solutions are already deployed in the networks of some of the largest financial institutions in the world.
Ribbon recently announced that it has entered into an agreement to sell the Kandy Communications business, including Kandy Business Solutions, to American Virtual Cloud Technologies, Inc. (AVCtechnologies). The proposed sale, which is expected to close in the second half of 2020, is subject to receipt of the approval of AVCtechnologies' stockholders, AVCtechnologies' completion of an equity offering, consent of the lenders under Ribbon's credit facility, as well as other customary closing conditions.
About Ribbon
Ribbon Communications (Nasdaq: RBBN), which recently merged with ECI Telecom Group, delivers global communications software and network solutions to service providers, enterprises and critical infrastructure sectors. We engage deeply with our customers, helping them modernize their networks for improved competitive positioning and business outcomes in today's smart, always-on and data-hungry world. Our innovative, end-to-end solutions portfolio delivers unparalleled scale, performance, and agility, including core to edge IP solutions, UCaaS/ CPaaS cloud offers, leading-edge software security and analytics tools, as well as packet and optical networking leveraging ECI's Elastic Network technology. To learn more about Ribbon visit rbbn.com and for more information about our packet and optical networking portfolio or visit ecitele.com.
Important Information Regarding Forward-Looking Statements
The information in this release contains forward-looking statements regarding future events that involve risks and uncertainties, including statements regarding the proposed sale of Kandy Communications. All statements other than statements of historical facts contained in this release are forward-looking statements. The actual results of Ribbon Communications may differ materially from those contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include failure to consummate the proposed sale of Kandy Communications; failure to make or take any filing or other action required to consummate the proposed sale of Kandy Communications in a timely matter or at all; failure to satisfy other closing conditions to the proposed transactions; potential litigation relating to the proposed sale and disruptions from the proposed transaction that could harm Ribbon's business; ability to retain key personnel; and the potential impact of announcement or consummation of the proposed Kandy Communications sale on relationships with third parties, including customers, employees and competitors. The foregoing list of factors is not exhaustive. For further information regarding risks and uncertainties associated with Ribbon Communications' business and the proposed sale of Kandy Communications, please refer to the "Risk Factors" section of Ribbon Communications' most recent annual or quarterly report filed with the SEC. Any forward-looking statements represent Ribbon Communications' views only as of the date on which such statement is made and should not be relied upon as representing Ribbon Communications' views as of any subsequent date. While Ribbon Communications may elect to update forward-looking statements at some point, Ribbon Communications specifically disclaims any obligation to do so.
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