Lifesize, a firm that specializes in video collaboration and meeting productivity, is merging with Serenova, provider of an SaaS software suite that fosters customer communications across email, voice, chat, social and mobile.
Terms were not disclosed, but the deal is being sponsored by Marlin Equity Partners, a global investment firm that will continue to invest in the combined business.
The goal of the merger is to gain traction in what Marlin Equity Partners says is a market in Unified Communications-as-a-service (UCaaS) that will grow to $60 billion by 2025.
Craig Malloy, founder and CEO of Lifesize, says: “Deeper customer and employee engagement through more vivid, direct communications is where the world’s most successful businesses will distinguish themselves from the competition.”
Malloy will serve as CEO of the new company, and Serenova CEO John Lynch will become senior vice president of sales.
The new firm will leverage the convergence of UCaaS and CCaaS technologies and help clients consolidate the “patchwork of solutions” that now attempt to cover communications, contact centers and video collaboration, it says. Serenova describes itself as an CCaaS provider.
Marlin Equity Partners, which recently led Serenova’s acquisition of the ProScheduler platform from Loxysoft, manages $6.7 billion worth of capital, it says.