MNF Makes Big Conferencing Buy
The value of conferencing is hard to understate, especially given how many firms have already put this technology to use to improve internal communications, better collaboration, or even save money on business travel. Some firms have done all of these at once. So we see a regular move toward the improvement of conferencing tools, and that recently came through clearly as MNF purchased Conference Call International (CCI).
MNF, a firm known for its voice over Internet protocol (VoIP) offerings, was slated to pay $17.5 million Australian dollars—about $13.375 million U.S. as of this writing—in cash, with an extra $500,000 Australian to come in another form. CCI, in turn, is expected to provide $3.5 million Australian in earnings. This represents a 17 percent increase over the previous year, reports note, and the company will be contributing further amounts in other ways as well.
This isn't the first such move MNF has made in recent days, as back in April 2015, MNF also purchased Spark's international voice business. That was a move that actually required regulatory approval from the United States, reports noted, and gave MNF access to a slate of markets from Europe to Asia to even North America. Then, MNF looked to build a complete voice network in New Zealand with its Symbio Networks branch, offering such services on a wholesale basis to both over-the-top (OTT) providers and service operators alike. However, it's also worth noting that MNF's subscriber base has been on the decline of late thanks in part to the recently-launched National Broadband Network, so an expansion is warranted.
CCI is widely known for its audio conferencing systems, which when added to a VoIP provider's lineup, could represent a great new way for MNF to break into new markets as well as go back to the well of old customers with completely new services. MNF has made no secret of its expansionist ambitions of late, and most every move seen out of the company of late has been in advance of such goals. This is a great strategy to take on, of course; it provides an array of new opportunities for MNF to push into in several directions. That improves the likelihood that one plan or another will actually work, and that means further revenue growth for MNF.
Conferencing has delivered plenty of value to its users for years now, and now, we see firsthand just how much value it can mean for its users and providers alike. For MNF, it's allowing the company to augment services, fill gaps in the market, and improve the possibility of realizing new revenue streams.
Edited by Alicia Young