Real deal: BT acquires Ribbit

As part of 21CN, BT built its own software platform to help developers build third-party applications leveraging the BT network. But take-up was slow, even as the BT platform team considered re-building the mostly Java-based SDK around Web standards such as REST.

In the end, BT found it easier to buy some developer-friendly development technology – not to mention some developers – to jump-start its “telco 2.0” service creation vision. The companies said the Ribbit platform would “complement” BT’s existing SDK platform.

“With Ribbit, not only do we extend our presence in the Valley, but we also gain a groundbreaking platform, a growing community of developers and a world-class team that share a common vision,” said JP Rangaswami, managing director of service design at BT, in a statement.

Ribbit was spearheaded by two telecom and Bell system vets, co-founders Ted Griggs and Crick Waters. Acknowledging the pair’s success in generating buzz around telephony innovation, BT said Ribbit would maintain its management team and identity.

Ribbit Corporation was funded by venture capital firms Alsop Louie Partners, Allegis Capital, KPG Ventures and Peninsula Ventures. Ribbit is being acquired from these firms and other stockholders of Ribbit’s, including founders and employees.