Genband is a multimedia and cloud communications software that has acquired Israel-based Fring. Fring is an Internet-based mobile communications service that works on almost all major smartphones. Genband did not disclosed the transaction details, but it was worth around $50 million according to sources with Reuters.
Fring lets users make free group video calls, regular video calls, chatting, and mobile phone calls.
“Fring is one of the pioneers that helped change the way consumers communicate on-the-go and is perfectly aligned with our strategy to bring service providers rich, simple-to-use, mobile communications solutions,” stated Genband chief executive officer David Walsh.