Vonage Holdings Corp., an Internet communications company, announced Monday it has acquired San Francisco-based Nexmo Inc., a communications platform-as-a-service company.
The acquisition will help accelerate its growth strategy and enhance its technology in voice and messaging communications.
"We are excited to complete the Nexmo acquisition, which positions Vonage as among the largest and fastest growing cloud communications companies in the world. This transaction combines the best of UCaaS with the best of CPaaS to deliver the most complete product offering in cloud communications," Alan Masarek, Vonage CEO, said in a prepared statement. "Not only does Nexmo expand our total addressable market, but we have acquired a cutting-edge technology company that is redefining how enterprises communicate with their customers via text, social media, voice and chat."
"Nexmo enhances Vonage's UCaaS offering by incorporating messaging and web/app-based voice to address businesses' rapidly increasing mobile, social media and contextual communications needs. Whether helping the world's largest e-commerce platform to provide in-app messaging communications to end users, or enabling a leading global airline to connect its CRM software to chat apps and manage the customer experience, Nexmo is changing the way businesses communicate with their customers,” he said.
Financial terms of the deal were not disclosed.