Vonage (VG) Tops Q1 EPS by 5c; Enters Agreement to Acquire Nexmo in ~$300M Deal
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Vonage Announces Strong First Quarter 2016 Results and Agreement to Acquire Nexmo, Inc.; Acquisition Accelerates Company's Growth Strategy and Elevates Leadership Position in Cloud Communications
May 5, 2016 8:26 AM EDTHOLMDEL, N.J., May 5, 2016 /PRNewswire/ -- Vonage Holdings Corp. (NYSE: VG), a leading provider of cloud communications services, today announced results for the first quarter ended March 31, 2016 and a definitive agreement to acquire privately-held Nexmo, Inc. (Nexmo), a global leader in the Communications Platform as a Service ("CPaaS") segment of the Cloud Communications market. Vonage is acquiring Nexmo for $230 million in cash and stock, with an additional earn-out opportunity of up to $20 million dollars contingent upon Nexmo achieving certain performance targets.
Vonage + Nexmo Create Cloud Communications Leader
San Francisco-based Nexmo... More
Vonage Holdings Corp. to Acquire Nexmo, Inc., Second Largest CPaaS Company Globally
May 5, 2016 8:15 AM EDTHOLMDEL, N.J., May 5, 2016 /PRNewswire/ --Â Vonage Holdings Corp. (NYSE: VG) ("the Company") has entered into a definitive agreement to acquire privately-held Nexmo, Inc. ("Nexmo"), a global leader in the Communications Platform as a Service ("CPaaS") segment of the Cloud Communications market, for $230 million in cash and stock. Nexmo is the world's second largest CPaaS company as measured by revenues. This acquisition accelerates Vonage's growth strategy, deepens the Company's technology capability and elevates its leadership position in Cloud Communications.
Innovative Technology Platform
San Francisco-based Nexmo provides communication application program... More
