VG - VG STOCK NEWS

Vonage (Nasdaq: VG), a leader in cloud communications, has been recognized by Frost & Sullivan as a leader in growth and innovation within the Communications Platform as a Service (CPaaS) industry. The recognition highlights Vonage's API Platform, facilitating the integration of programmable communication APIs across various sectors. The increasing demand for digital engagement, surging by 300% since January 2020, underscores the importance of Vonage's offerings in modern business operations. The company continues to prioritize innovation and customer engagement.

Legion Partners Asset Management, a 2.2% shareholder in Vonage Holdings Corp. (NASDAQ: VG), expressed strong support for Ericsson's acquisition of Vonage for $6.2 billion, or $21 per share. Chris Kiper from Legion Partners praised the strategic transaction as a key move to enhance shareholder value, highlighting their collaborative efforts with Vonage over five years. The partnership led to the appointment of Michael McConnell to Vonage's Board, which has been pivotal in governance. This acquisition is viewed positively by Legion Partners, reflecting confidence in the future potential of Vonage's shareholders.

Ericsson has announced a USD 6.2 billion cash acquisition of Vonage, with the agreement unanimously approved by Vonage's Board of Directors. The acquisition aims to enhance Ericsson's wireless enterprise presence and expand global offerings. Vonage's Communications Platform (VCP), which generates about 80% of its revenues, serves over one million developers globally. The transaction is expected to be accretive to Ericsson's EPS and free cash flow from 2024 onward, with closing anticipated in the first half of 2022, pending shareholder and regulatory approvals.

Vonage (Nasdaq: VG) released its Global Customer Engagement Report, indicating a significant shift in consumer behavior post-pandemic. According to the report, 47% of consumers have increased their use of digital communication channels, with 87% expecting to maintain or increase this usage. The preference for video communication has surged by 300% since January 2020. The study, based on a survey of 5,000 consumers across 14 countries, highlights the necessity for businesses to adapt to changing consumer expectations for agile, seamless communication.

Vonage Holdings Corp. (Nasdaq: VG) reported a strong performance for Q3 2021, with Vonage Communications Platform (VCP) revenues reaching $288 million, a 25% year-over-year increase. API revenue surged by 43%, while Unified Communications and Contact Center services grew 8%. The company generated an Adjusted EBITDA of $51 million despite a net loss of $2 million. For Q4 2021, Vonage raised its guidance for VCP service revenue growth to 22%-25%. The firm recently introduced new products and acquired Jumper.ai to enhance its offerings.

Vonage (Nasdaq: VG) is set to host the APAC Vonage Convo Virtual event on 11 November 2021 at 1:00 PM SGT, aimed at business decision-makers. The event will explore the lasting impact of the pandemic on customer interactions, showcasing how programmable cloud communications enhance customer engagement.

With over one million registered developers, Vonage's Communications Platform supports voice, video, messaging, and email services for various industries, including healthcare and finance. Attendees will gain insights from industry leaders and customer success stories.

Vonage (Nasdaq: VG) has acquired Jumper.ai, a leader in omnichannel conversational commerce solutions based in Singapore. This acquisition strengthens Vonage's technology offerings and developer talent, enhancing its Communications Platform with new capabilities in conversational commerce. As social messaging grows, this strategic move aims to capitalize on a market projected to be worth $27 billion by 2025. The collaboration promises improved customer engagement through messaging across various platforms, meeting evolving consumer demands.