With this acquisition, Vonage gains significant technology talent and expertise in conversational-related AI. Over.ai's product and engineering team of 23 will join Vonage's R&D technology hub in Israel.
Over.ai's voice and conversational AI technology platform provides intelligent virtual assistant functionality via APIs, enabling businesses to enhance their interactive voice response (IVR) systems and handle complex interactions with real-time human-like interactions over phone lines.
Vonage will incorporate the Over.ai VoAI (or "Voice over AI") technology, including its proprietary speech-to-text and natural language understanding (NLU) algorithms, into its Vonage Business Cloud (VBC) unified communications solution and the NewVoiceMedia contact center solutions.
"As a communications market leader, we believe we are best positioned and set on a mission to lead the revolution from voice over IP to voice over AI. With the Over.ai talent and technology on board, we intend to make every conversation smarter," said Omar Javaid, president of Vonage's API Platform Group, in a statement. "Leveraging these capabilities into our solutions will empower Vonage to drive exceptional customer experiences by providing a premiere service for every interaction; reducing wait times to zero; and resolving customer issues quickly and effectively using natural language conversation."
"At Over.ai, our technology was built on the belief that in order for organizations to meet the digital age with intelligence, humans and machines must learn to work together," said Noam Fine, co-founder and CEO of Over.ai, in a statement. "We are excited to join Vonage at such an exciting time as they are disrupting the massive cloud communications market. Combining our AI technology with the award-winning OneVonage platform presents a tremendous opportunity to create new, amazing customer experiences."
"Businesses already look to Vonage for cloud contact center resources that enable their marketing and customer care professionals to introduce automated virtual agents with the skills required to resolve high-impact use cases," said Dan Miller, lead analyst at Opus Research, in a statement. "Vonage's acquisition of Over.ai augments Vonage's applications and API platform solutions to support voice over AI, a powerful paradigm that verifies the value of the voice channel and, in effect, redefines interactive voice response."