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Vonage buys Nexmo for USD 230 mln
2016-05-06 07:57:00| Telecompaper Headlines
(Telecompaper) Vonage has agreed to acquire privately-held Nexmo, a provider of cloud communications platforms, for USD 230 million in cash and stock. There is also an additional earn-out opportunity of up to USD 20 mln. Vonage noted that Nexmo is the world's second largest CPaaS company as measured by revenues and that it will provide an entry point for Vonage to expand its brand globally and sells its systems in EMEA, Asia Pacific and other geographies. Tony Jamous, co-founder and CEO of Nexmo, joins Vonage as president of Nexmo, a Vonage company, along with co-founder Eric Nadalin, CTO, and Nexmo's 170-person team.
Vonage to buy Nexmo for $230m
2016-05-06 02:00:00| Total Telecom industry news
IDC predicts that the two companies will have an addressable market of nearly $28 billion by 2018.
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