Vonage said it plans to buy Vocalocity, a small...
Vonage said it plans to buy Vocalocity, a small and medium-sized business (SMB) communications provider, for $130 million -- $105 million in cash and $25 million in Vonage stock. Vocalocity has had success in the SMB hosted VoIP market, a…
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segment Vonage wanted to enter as part of “the growth strategy we outlined last year,” said Vonage CEO Marc Lefar in a news release. Vocalocity had $28 million in revenue in the first half of 2013 -- a 39 percent increase from the same period last year. The total North American SMB hosted VoIP market is worth $15 billion, Vonage said. Vocalocity CEO Wain Kellum will become Vonage’s president-business services when the deal is complete. Vonage said it anticipates the purchase will close in Q4 (http://bit.ly/180wm25).