Vonage has reached a deal to acquire communications-as-a-service provider Telesphere Networks for $114 million, another move in its ongoing mission to take a larger piece of the growing small to medium business (SMB) sector.
Under the terms of the agreement, Telesphere shareholders will receive $91 million in cash and 6.86 million shares in Vonage common stock. The companies expect the deal to close in 2014, pending regulatory approvals.
Founded in 2006, Telesphere provides cloud-based voice and Unified Communications as a Service (UCaaS) services, including call center solutions, collaboration, mobile office and HD multi-point video conferencing. The service provider can also ensure QoS with its own national MPLS network.