Andre Yoskowitz
10 Oct 2013 22:42
Vonage has purchased VoIP company Vocalocity for $130 million.
The company will look to improve its position in the small-to-mid size enterprise business with the new acquisition.
Chief Executive Marc Lefar says the company will pay $105 million in cash and $25 million in stock and calls the move "transformative."
Vonage has 2.3 million VoIP/communications customers, but has a tiny presence in the lucrative business market. Vocalocity has 21,000 business customers, with the average customer paying $230 per month, well above what the average Vonage customer pays.