Vonage Holdings has completed the acquisition of SimpleSignal.
Vonage paid $25.25 million for the unified communications as a service (UCaaS) company, comprised of approximately $20 million in cash and approximately 1.1 million shares in Vonage common stock.
“The SimpleSignal acquisition represents another important step in the execution of our growth strategy for becoming the clear leader in unified communications as a service,” said Alan Masarek, CEO at Vonage. “SimpleSignal is a natural complement to Vonage’s rapidly expanding UCaaS business. Its strong channel and strategic partnerships, coupled with a common underlying technology platform, deepens Vonage’s penetration in UCaaS.”
Dave Gilbert, former CEO of SimpleSignal, will join Vonage as a special advisor working closely with Vonage management through the merger integration.
“In less than 18 months, Vonage has become the fastest-growing provider of cloud communications in the SMB market,” Gilbert said. “Becoming a part of Vonage will instantly put SimpleSignal at the forefront of growth in this market, and I couldn’t be more pleased that SimpleSignal’s employees, customers and partners will now benefit from the strength and scale of Vonage.”
SimpleSignal sells its solutions primarily through a nationwide network of indirect channel partners, delivering either across its own MPLS network and bring your own broadband (BYOB) delivery options.