Weil Guides Vonage's $130M Vocalocity Buy

Law360, New York (October 10, 2013, 2:05 PM EDT) -- New Jersey-based telephone and broadband service provider Vonage Holdings Corp. has agreed to pay $130 million in cash and stock to acquire venture capital-backed Vocalocity Inc., which offers cloud-based communications services for small businesses, Vonage said Thursday.

Vonage will pay the owners of privately held Vocalocity $105 million in cash and $25 million in Vonage common stock. Atlanta-based Vocalocity is backed by a slew of venture capital firms, including Nero-Moseley Partners and local VC firms Five Pace Ventures LP and Imlay Partners.

The deal is expected...
To view the full article, register now.