Global VoIP Market Continues to Grow for Tech Companies
PALM BEACH, Florida, August 8, 2017 /PRNewswire/ --
According to Ameri Research, the global Voice over Internet Protocol (VoIP) market was valued at $43.3 billion in 2016 and is forecast to grow at a robust CAGR of 10.2% between 2017 and 2024, culminating to global revenue of $93.9 billion by 2024. As Voice over Internet Protocol (VoIP) continues to develop and assert itself as a viable alternative communication technology, innovation is bringing new possibilities to the sector. Mergers & acquisitions are seen as one of the primary growth strategies followed by leading industry participants in an attempt to enter emerging markets, enhance global presence and penetrate deeper into the already established markets. Active tech companies in the VoIP market include: HD View 360 Inc. (OTC: HDVW), Level 3 Communications Inc. (NYSE: LVLT), Globalstar Inc. (NYSE: GSAT), Vonage Holdings Corp. (NYSE: VG) and RingCentral Inc. (NYSE: RNG).
HD View 360 (OTCQB: HDVW), a full-service IT solution that provides hardware installation, security monitoring, telephone services, merchant processing, POS software, and ongoing technology support to small and medium-sized businesses, and Voice Solutions Inc., one of the foremost providers of in-store music, on-hold message services, digital signage, sound masking, and other impactful sensory marketing services, announced today a new strategic partnership. Read this and more news for HD View 360 at: http://www.marketnewsupdates.com/news/hdvw.html.
The partnership will leverage access to enterprise-level customers and create mutual avenues of recurring revenue streams for both companies. With a professional network of clients like Culligan, Citi®, Aveda, Midas®, and Plato's Closet®, HD View 360 CEO Dennis Mancino is proud to welcome Voice Solutions as the first member of its Simple Affiliate Partner Program.
Sandra Brown, Managing Founder of Voice Solutions stated, "We are honored to partner with Simplefone. We believe this partnership will allow our team to further fulfill our mission to increase business potential for clients by providing innovative technology, unparalleled customer service, and product knowledge expertise. Together, with our combined areas of expertise and years of experience, we believe both parties empower one another to better serve both current and future customers."
In other tech news and developments in the markets:
Level 3 Communications Inc. (NYSE: LVLT) recently announced General Services Administration (GSA) has awarded its wholly-owned subsidiary, Level 3 Communications, LLC a multiple-year competitive contract known as Enterprise Infrastructure Solutions (EIS). The contract allows Level 3 to offer telecommunications solutions to support the GSA's goal of providing federal agencies access to a broad range of domestic and international network services. "EIS provides access to a wide range of telecommuniations services needed for government agencies to transform their IT infrastructure - which is critical in this ever-evolving digital age. Now agencies will continue to have access to Level 3's services, helping them modernize, future-proof and protect their technology to better address the critical needs of their teams and clients," quoted David Young, Regional Vice President, Level 3's Government Markets Group.
Globalstar Inc. (NYSE: GSAT) closed up 3.09% on Monday at $2.00 with over 2.8 million shares traded by the market close. The company recently announced its financial results for the quarter ended June 30, 2017. Jay Monroe, Chairman and Chief Executive Officer of Globalstar, commented, "In June, our core business achieved a significant milestone, reaching over 700,000 total subscribers on our satellite network. These subscribers contributed to meaningful growth during the quarter with a 12% increase in total revenue. ARPU continues to improve, including a 23% increase in Duplex ARPU from the prior year quarter. Net loss increased due to non-cash derivative losses resulting primarily from the recent increase in the Company's stock price. Importantly, Adjusted EBITDA increased 61%, reaching its highest level in more than ten years as performance continues to reflect the operating leverage inherent in this business. Read more here: https://finance.yahoo.com/news/globalstar-announces-second-quarter-2017-202000141.html
Vonage Holdings Corp. (NYSE: VG) closed up slightly on Monday at $7.73 with over 2.1 million shares traded by the market close as was up over 6% in afterhours trading. S&P SmallCap 600 constituent CoreSite Realty Corp. will replace NeuStar Inc. in the S&P MidCap 400, and Vonage Holdings Corp. (NYSE: VG) will replace CoreSite Realty in the S&P SmallCap 600 effective prior to the open on Thursday, August 10. NeuStar is being acquired by a private investment group led by Golden Gate Capital in a deal expected to be completed on Tuesday of this week pending final closing conditions. CoreSite Realty, a real estate investment trust (REIT), engages in the ownership, acquisition, construction, and management of data centers. Headquartered in Denver, CO, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Specialized REITs Sub-Industry index.
RingCentral Inc. (NYSE: RNG) finished Monday up slightly at $35.10 with a volume north of 500,000. The company recently announced that Vlad Shmunis, Founder, Chairman, and Chief Executive Officer and Praful Shah, Chief Strategy Officer, will be presenting at the Oppenheimer 20th Annual Technology, Internet & Communications Conference in Boston, MA on Tuesday, August 8, 2017 at 9:45 a.m. ET or 6:45 a.m. PT. At that time, a live webcast will be accessible from the investor relations page of the RingCentral website at http://ir.ringcentral.com/. Following the event, a replay will be made available at the same location.
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