Holmdel-based Vonage Holdings Corp. has agreed to acquire NewVoiceMedia, a cloud Contact Center-as-a-Service provider, for $350 million, it announced Thursday.
The deal will combine Vonage’s UCaaS and CPaaS solutions with NewVoiceMedia’s cloud CCaaS offerings, providing end-to-end communication for a company’s employees and customers.
“We are thrilled to announce the acquisition of NewVoiceMedia, which represents a major step forward in the realization of our strategic vision to deliver a differentiated, fully-programmable communications solution that drives more meaningful customer interactions and better outcomes for businesses,” Vonage CEO Alan Masarek said.
“This acquisition accelerates Vonage’s growth strategy and leadership position in cloud communications, strengthens our presence with global mid-market and enterprise clients, and deepens our integrations and key go-to-market relationships with CRM providers, especially Salesforce.com.”
NewVoiceMedia will continue to be led by Dennis Fois, its current CEO, who has more than 25 years of experience in the sales, marketing, technology and financial services industries.
“Vonage and NewVoiceMedia share a powerful vision to serve businesses with cloud communications that connect employees and enable personalized conversations with their customers and prospects. Together, we can help businesses create richer experiences through a state-of-the-art, global, programmable cloud communication platform,” Fois said.
Upon closing, NewVoiceMedia’s senior leadership team and its more than 400 employees will join Vonage.
The acquisition is expected to close in the fourth quarter of 2018.
JP Morgan Securities LLC served as financial advisor and Morrison & Foerster LLP served as legal counsel to Vonage. Jefferies LLC served as financial advisor and Weil, Gotshal & Manges LLP served as legal counsel to NewVoiceMedia.