On May 5, 2016 Vonage announced that they have acquired Nexmo, a global leader in the Communications Platform as a Service (“CPaaS”) segment of the Cloud Communications market, for $230 million in cash and stock.
Nexmo is a global cloud communications platform leader providing innovative communication APIs for voice, text, messaging and phone verification services. Nexmo enables applications and enterprises to communicate with their customers reliably and with ease, no matter where in the world they are located. High-volume communication companies such as Alibaba, and Viber send millions of messages per month using Nexmo APIs.
Vonage (NYSE: VG) is a leading provider of cloud communications services for businesses. Vonage transforms the way people work and businesses operate through a portfolio of communications solutions that enable internal collaboration among employees, while also keeping companies closely connected with their customers, across any mode of communication, on any device. The Company also provides a robust suite of feature-rich residential communication solutions. In 2015, the Company was named a Visionary in the Gartner Magic Quadrant for Unified Communications as-a-Service, Worldwide and also earned the Frost & Sullivan Growth Excellence Leadership Award for Hosted IP and Unified Communications and Collaboration (UCC) Services.
You can find more information about Vonage’s acquisition of Nexmo on their website.