DLA Piper advises Vocalocity in US$130 million deal with Vonage
DLA Piper advised Vocalocity, one of the fastest-growing providers in the SMB-hosted VoIP market, in the US$130 million sale of its business to New Jersey based telecommunications provider Vonage Holdings Corp. The transaction is expected to close in the fourth quarter of 2013, subject to customary closing conditions.
Under the terms of the deal, Vonage will acquire Vocalocity for $130 million, including $105 million in cash and $25 million in Vonage common stock.