VG - VG STOCK NEWS

Vonage, a leader in cloud communications, has been recognized by Frost & Sullivan as a leader in growth and innovation within the European Contact Center as a Service (CCaaS) market. The recognition highlights Vonage's investment in innovation and its robust Contact Center solution, which integrates multiple communication channels with CRM platforms. The Frost Radar report ranks cloud contact center providers based on their product portfolio and growth strategy, emphasizing Vonage's commitment to delivering advanced functionalities and deep integrations with systems like Salesforce and Microsoft Teams.

Ericsson (NASDAQ: ERIC) has finalized its acquisition of Vonage (NASDAQ: VG) as of July 21, 2022. This strategic move aims to expand Ericsson's enterprise offerings, notably in Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS). The integration is expected to yield near-term revenue synergies of approximately USD 0.4 billion by 2025, leveraging Vonage's extensive client base and developer community. The acquisition is set to enhance Ericsson's ability to offer advanced communications capabilities and is projected to positively impact its earnings per share from 2024 onwards.

Vonage announced the successful completion of its acquisition by Ericsson, effective July 21, 2022. This event triggered a 'Fundamental Change' affecting the 1.75% Convertible Senior Notes due 2024. Holders of these Notes can request repurchase at 100% of the principal amount, plus accrued interest, by the designated repurchase date of August 19, 2022. Additionally, they can convert their Notes into cash at a conversion rate of $1,343.81 for each $1,000 principal amount. This press release serves to inform Note holders of their rights and options following the acquisition.

Vonage (Nasdaq: VG) has partnered with Revolut to enhance customer service through the Vonage Contact Center for Salesforce. This integration allows Revolut agents to efficiently manage customer communications, leveraging real-time performance data. With over 18 million users, Revolut processes more than 150 million transactions monthly. The partnership aims to streamline operations and improve user experience, utilizing Vonage's SMS API for secure transactions. This move is expected to drive customer engagement and operational efficiency for both companies.

Vonage (Nasdaq: VG) has partnered with Manulife Singapore to enhance customer engagement in the Asia Pacific through automated messaging using Vonage’s SMS API. This collaboration enables timely notifications for OTPs and policy updates across multiple countries including Singapore, Vietnam, and China. The growth of mobile communication is notable, with A2P SMS messages projected to reach 1.9 trillion by 2025. Vonage provides developers with dedicated support, highlighting its commitment to seamless customer experiences.

Vonage (Nasdaq: VG) has been recognized as a leader in the Omdia Universe: Selecting a CPaaS Platform 2022 report. The company boasts over 1 million registered developers and a robust global communications network. Vonage's CPaaS segment reported a remarkable 42% growth in 2021. The company excelled in critical areas, including APIs, technical support, and customer recommendation, solidifying its position in enterprise communications. Moreover, Vonage's strategic acquisitions enhance its capabilities in conversational commerce and AI, further driving customer engagement.

Vonage (Nasdaq: VG) announced a partnership with Doctor Anywhere, a healthcare company in Singapore, to enhance digital healthcare services using Vonage's Video API. This collaboration aims to improve customer experience and meet the growing demand for telehealth solutions in Southeast Asia. Doctor Anywhere serves over 2.5 million users and has seen significant growth, including a 4x increase in video consultations in 2021. The Asia Pacific digital health market is projected to reach USD 326 billion by 2030, highlighting the importance of such partnerships.

On May 9, 2022, Vonage (Nasdaq: VG) announced that four of its channel program executives were recognized on CRN's 2022 Women of the Channel list. The honorees include Marcela Cagle Gonzalez, Christina Baio, Gabrielle Fletcher, and Natalie Caleca, who have been pivotal in driving the success of Vonage's partner community. Jim Regan, Vonage Channel Chief, praised their collaboration and commitment to enhancing partner success. Vonage continues to support digital transformation globally through its advanced communication solutions.

Vonage Holdings Corp. (Nasdaq: VG) reported its first quarter 2022 financial results, revealing consolidated revenue of $359 million, an 8% increase year-over-year. Consumer revenue, however, declined by 19% to $62 million. The Vonage Communications Platform generated $296 million in revenue, up 16%, with API revenue increasing by 28% to $162 million. Despite a consolidated net loss of $17 million, there was a $4 million increase in VCP Adjusted EBITDA. No financial guidance was provided due to Ericsson's proposed acquisition.