Vonage Finalizes iCore Acquisition
Vonage, known for decades as a provider of a wide range of cloud communications services, finally completed a takeover of a firm well known in the Unified Communications as a Service field, called iCore. The two companies had been talking about a potential merger for a number of months now but as the calendar turned to September, Vonage was finally able to announce that the deal had been finalized.
"We are excited to complete the iCore acquisition, which represents another important step in the execution of our growth strategy and further positions Vonage as a leader in the UCaaS market," said Alan Masarek, Vonage Chief Executive Officer in a recent statement confirming that the two companies had reached an agreement. "iCore is a natural complement to Vonage's rapidly growing UCaaS business and strengthens the Company's national footprint. iCore is particularly successful in serving mid-market and enterprise customers, with more than 60 percent of its revenue derived from customers with 100 or more seats.”
Vonage believes that it has already established itself in the market it works most often and it has a strong foundation when it also comes to the UCaaS business thanks in large part to its acquisition of iCore. Masarek added that he believes his firm has the tools in place in order to quickly and efficiently absorb the talents that iCore brings to the table. The two firms also feel as though the customers of iCore won’t feel any trepidation precisely because the two firms are so similar in the way they operate.
Finally, Vonage feels as though iCore clients are going to see an actual improvement when it comes to customer service. This is because Vonage has been around the customer service market for quite some time and the contact centers and customer support services have actually won a number of awards over the year. The exact amount of money changing hands was not discussed.
Edited by Dominick Sorrentino