Vonage to acquire Vocalocity for $130 million
Vonage has agreed to acquire voice-over-Internet-protocol company Vocalocity for $130 million, in a deal aimed at strengthening Vonage’s position in the small- and medium-size business sector.
Vonage will pay $105 million in cash and $25 million in stock for a purchase that it sees as “transformative,” said Chief Executive Marc Lefar in an interview. Holmdel, N.J.-based Vonage provides voice-over-Internet-protocol and other communications services to more than 2.3 million subscribers. Many of Vonage’s customers are households, but the company has been making a push to cater to businesses. It has a market capitalization of $641 million.