Vonage to Acquire iCore Networks for $92 Million
Vonage (VG) has announced plans to add a unified communications-as-a-service (UCaaS) provider to its portfolio.
The Holmdel, New Jersey-based communications services giant has reached an agreement to acquire iCore Networks for $92 million.
So what will the acquisition mean for Vonage, iCore Networks and each company’s respective customers?
Vonage CEO Alan Masarek told Talkin’ Cloud that the iCore Networks addition could help his company extend its reach in the mid-market and enterprise sector. He also pointed out that iCore leverages the same BroadSoft BroadWorks call processing platform used by Vonage, resulting in ease of integration for iCore’s customers.
“With the addition of iCore, Vonage will now have what it believes to be the largest salesforce in the UCaaS market and the broadest multi-channel distribution platform in the industry, from small and medium-sized business to mid-market to enterprise,” Masarek said.
Furthermore, Masarek noted that the iCore Networks acquisition could help his company become a clear leader in the UCaaS space.
“We have the right platforms and product set to serve single-person companies to those with thousands of employees spread over multiple locations,” he said.
Vonage previously added to its UCaaS portfolio as well.
The company in March acquired UCaaS provider SimpleSignal for $25.25 million, approximately 1.5 times SimpleSignal’s estimated 2015 revenues. At that time, Masarek said the SimpleSignal acquisition “further [positioned] Vonage as a leader in unified communications.”