M&A Deal Summary

Evolve IP Acquires AiTech

On July 20, 2018, Evolve IP acquired communications company AiTech

Acquisition Highlights
  • This is Evolve IP’s 2nd transaction in the Communications sector.
  • This is Evolve IP’s 8th transaction in the United States.
  • This is Evolve IP’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2018-07-20
Target AiTech
Sector Communications
Buyer(s) Evolve IP
Deal Type Add-on Acquisition

Target

AiTech

Edina, Minnesota, United States
AiTech is a provider of unified communications, IP phone systems and data solutions leveraging Broadsoft's [Cisco's] blue-chip UCaaS platform. AiTech was founded in 1993 and is based in Edina, Minnesota.

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Buyer(S) 1

Buyer

Evolve IP

King of Prussia, Pennsylvania, United States

Category Company
Founded 2007
Sector Internet Software and Services
DESCRIPTION

Evolve IP provides organizations with a unified option for cloud services, including unified communications, contact center, managed network, and cloud computing technologies. Evolve IP was founded in 2007 and is based in King of Prussia, Pennsylvania.


DEAL STATS #
Overall 10 of 11
Sector: Communications M&A 2 of 2
Type: Add-on Acquisition M&A Deals 10 of 11
State: Minnesota M&A 1 of 1
Country: United States M&A 8 of 9
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-18 thevoicefactory

Cardiff, United Kingdom

thevoicefactory Ltd. is a cloud communications provider specializing in verticals such as hospitality, automotive and legal. thevoicefactory was founded in 2009 and is based in Cardiff, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-01 Jog.ai

Austin, Texas, United States

Jog.ai is a speech analytics and natural language technology firm. Jog.ai application creates a visual, interactive 'screenplay' that links call audio and text transcription together. Jog.ai was founded in 2016 and is based in Austin, Texas.

Buy -