[Techtaffy Newsdesk]

ClearOne has acquired Israel-based VCON Video Conferencing, an end-to-end, software video conferencing solutions company. Originally established in 1994, VCON was the first company to introduce the world’s first video conferencing over IP.

Under the terms of the asset purchase agreement, ClearOne will pay $4.5 million in cash and will not assume any debt or cash. The acquisition is expected to close by the end of this quarter, subject to customary closing conditions, including applicable regulatory and court approvals.