tech:

taffy

Vonage Buys Vocalocity For $130 Million

vocalocity

VoIP communications provider Vonage has entered into a definitive agreement to acquire privately-held Vocalocity for $130 million.

The transaction has been approved by the boards of both the companies, and is expected to close in the fourth quarter of 2013, subject to customary closing conditions. Upon closing, Vocalocity CEO Wain Kellum will join Vonage as president, Business Services.

Evercore served as financial advisor and Weil, Gotshal and Manges as legal counsel to Vonage. William Blair served as the financial advisor, and DLA Piper as the legal counsel to Vocalocity.

Vocalocity, a Software as a Service (SaaS) provider of cloud-based communication services to small and medium businesses, had revenues of $28 million during the first half of 2013, according to the company.  It has around 21,000 customers.

[Image courtesy: Vocalocity]

 

Just in

Apple sued in a landmark iPhone monopoly lawsuit — CNN

The US Justice Department and more than a dozen states filed a blockbuster antitrust lawsuit against Apple on Thursday, accusing the giant company of illegally monopolizing the smartphone market, writes Brian Fung, Hannah Rabinowitz and Evan Perez.

Google is bringing satellite messaging to Android 15 — The Verge

Google’s second developer preview for Android 15 has arrived, bringing long-awaited support for satellite connectivity alongside several improvements to contactless payments, multi-language recognition, volume consistency, and interaction with PDFs via apps, writes Jess Weatherbed. 

Reddit CEO Steve Huffman is paid more than the heads of Meta, Pinterest, and Snap — combined — QZ

Reddit co-founder and CEO Steve Huffman has been blasted by Redditors and in media reports over his recently-revealed, super-sized pay package of $193 million in 2023, writes Laura Bratton. 

British AI pioneer Mustafa Suleyman joins Microsoft — BBC

Microsoft has announced British Artificial Intelligence pioneer Mustafa Suleyman will lead its newly-formed division, Microsoft AI, according to the BBC report. 

UnitedHealth Group has paid more than $2 billion to providers following cyberattack — CNBC

UnitedHealth Group said Monday that it’s paid out more than $2 billion to help health-care providers who have been affected by the cyberattack on subsidiary Change Healthcare, writes Ashley Capoot.