GENBAND and Sonus have finalized their mergers following which the new company will be known Ribbon Communications. The combined company will focus on security and real-time communication tools.
The transaction is a merger of equals and former Sonus and GENBAND shareholders each own approximately 50% of the parent company, which had approximately 102 million shares outstanding post close.
In a joint statement, the companies elaborated more on the name of the new company, "With the world more complexly woven together than ever before, the real-time communications we rely on must become a more comprehensive, engaging, contextual and all-encompassing experience. That's why Ribbon is being launched. Born to serve as the real-time communications pivoting point for our lives, Ribbon serves as the connection across all our world."