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Vonage Gobbles UCAAS Provider Telesphere for $114 Million
VoIP provider Vonage is buying Arizona-based Telesphere for its UCaaS expertise.
New Jersey-headquartered Vonage said in a Securities and Exchange Commission filing on Wednesday that it will pay $114 million for Telesphere. The amount could be adjusted due to Telesphere's working capital at closing, and be reduced depending on Telesphere's outstanding debt and unpaid expenses at that time. Vonage will use cash for about 80 percent of the total transaction and cover the remaining 20 percent with its common stock.
Each company's board has approved the deal, which is expected to close before the end of the year.
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