HOLMDEL, N.J., April 1, 2015-- Vonage Holdings Corp. (NYSE: VG) ("the Company"), a leading provider of cloud communications services for consumers and businesses, has completed the acquisition of Simple Signal Inc. ("SimpleSignal"), a leading provider of Unified Communications-as-a-Service (UCaaS) and collaboration solutions to small and medium businesses (SMBs). Vonage paid $25.25 million for SimpleSignal, 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. 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," said Alan Masarek, Vonage Chief Executive Officer.