Tuesday, July 29, 2008

Ribbit Acquired By BT

Mountain View-based Ribbit, a provider of an open platform for the telephony market, has been acquired by BT for $105M. BT said the cash deal will accelerate the firm's strategy to "transform itself into a next- generation, platform-based, software-driven services company." Ribbit provides tools used by developers to add voice applications; the firm was venture backed by Alsop Louie Partners, Allegis Capital, KPG Ventures and Peninsula Ventures.