Vonage, a leading provider of cloud communications services for businesses and consumers, has entered into an agreement to acquire privately-held iCore Networks, a provider of Unified Communications-as-a-Service (UCaaS) for businesses, for $92 million.
According to Vonage, iCore supports more than 85,000 customer seats, with monthly ARPU per customer of more than $4,000, and it derives more than 60% of its revenue from customers with 100 or more seats.
In addition, iCore also uses the same BroadSoft BroadWorks call processing platform used by Vonage, making integration easier for the two companies.
Alan Masarek, Vonage Chief Executive Officer
iCore has a proven track record of delivering the innovative UCaaS solutions required by mid- market and enterprise companies, and has been particularly successful combining hosted communications with complementary cloud services to create a robust unified communications experience.
Stephen G. Canton, CEO, Chairman and Founder of iCore
In less than two years, Vonage has become the fastest-growing provider of UCaaS solutions for business, and becoming part of Vonage will instantly put iCore at the forefront of this growth.
