Transaction combines capabilities of the market-leading communications billing-as-a-service provider with the top productivity platform supporting Cisco BroadWorks users
Rev.io, a provider of sophisticated and configurable billing-as-a-service (BaaS) to communications, IoT, and other technology service providers, today announced its acquisition of Park Bench Solutions (PBS).
By completing this acquisition, Rev.io adds to its full quote-to-cash offering for service providers. Already a provider of billing, usage rating, taxation, payments, collections, and other associated services, the company will now offer PBS’ odin platform to its clients.
Cisco BroadWorks users rely on odin as a productivity solution with streamlined integrations via API. Odin’s services include its portal, provisioning, analytics, and automation features. PBS has served users of Cisco BroadWorks for over 10 years, and is trusted by over five million users worldwide.
The newly-combined company will have over 220 recurring revenue clients across all lines of business. This is Rev.io’s second acquisition since securing growth equity investment from Primus Capital in September 2020.
“We are thrilled to welcome Park Bench Solutions to the Rev.io family,” said Brent Maropis, CEO of Rev.io. “This transaction creates the first software vendor to offer billing-as-a-service with softswitch provisioning to service providers. Our clients are demanding more services and broader partnerships from their vendors, supported by best-in-class technology. We are proud to create a new offering in combination with PBS to expand our services within the Cisco BroadWorks community.”
“Rev.io has been a long-time strategic partner and we are excited to join forces as one,” adds Marc Tribbe, CEO of Park Bench Solutions. “We have similar values, cultures and the shared vision to simplify integrations and automation for our clients. Our combined solutions-as-a-service offers instant scale for the entire Cisco BroadWorks ecosystem and beyond. Together, our mission will be to meet the demand for more technological flexibility and modernized connectivity between applications.”
Primus Capital acted as transaction advisor for Rev.io, while PBS was advised by Graydon.
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