Which VoIP companies are up for sale now? Which aren't?

VoIP companies that (likely) aren't for sale 

You can never say never, but anyone who has managed to take down another round of venture capital money since September is unlikely to take a quick buyout offer. Their backers are happy with the existing business model and have enough faith in both the potential upside and current management to wait out the storm for the next couple of years. 

So you can put Intelepeer and iSkoot on the "unlikely" list for the next 12 months. But never say never. 

VoIP companies likely for sale 

Conversely, anyone who "Never says never" too loudly is worth looking at again. Plunging stock prices, antsy investors (both public and private), and an atmosphere of fear will provide the catalyst for a number of deals - good and bad - in 2009. 

(Pieces of) Alcatel-Lucent 

With a new leadership team and new organization coming in place on Jan. 1, 2009, Alca-Lu may want to shed and/or spin-out one or more divisions and/or product lines. We're sure Dialogic and GENBAND are looking over what might be applicable and available. 

AudioCodes 

Publicly-traded AudioCodes could prove to be an attractive buy for any number of hardware companies, due to its core technology, professed love for HD and abundance of fun partnerships. At a market cap of $78 million at the close of business on November 14, the price might be right, followed by some divesture/spin-down of existing assets. 

(Pieces of) Nortel 

Nortel might need more cash faster, because we don't think the $1 billion asking price for the Metro Ethernet division is going to happen anytime soon. Given they let go of a lot of people in the executive suite earlier this month, existing shareholders are going to press for more rapid and drastic changes to go with the planned job cuts.  

New executives might be tempted to chainsaw the company down - especially if there is a new CEO in the first quarter of '09. 

SimpleSignal 

It's a hosting/SaaS play, it has a lot of good technology and the company continues to generate a steady stream of Fierce ideas, as evidenced by its appearance on the Fierce 15. Could we see them? 

Vonage 

At close of business on November, 14, Vonage had a market cap of $139 million and change. It almost seems to be begging for someone to come in, buy them up, and put a stake through the heart of its marketing expenses. A larger phone or cable company could conceivably roll them into existing marketing operations. But the buyer would have to be a serious Net Neutrality lover. 

However, what would be a reasonable offer for the company when you toss in that $253 million of senior secured debt? 

Yahoo 

The ever-declining Yahoo does have the whole IM and voice services thing going on. If the stock price continues to drop, both Google and Microsoft are bound to take another look at the company. We also wouldn't be surprised to see a Fierce play by Verizon or another carrier.