Goodwin Procter represented privately held Nexmo, Inc., a global leader in the Communications Platform as a Service (CPaaS) segment of the cloud communications market, in a definitive agreement to be acquired by Vonage Holdings Corp. for $230 million in cash and stock. The transaction is also subject to an earn-out payment of up to $20 million in cash and stock.
Founded in 2011, Nexmo is the world's second largest CPaaS company as measured by revenues. The company has approximately 200 employees spread out across its offices in San Francisco, London, Hong Kong and Singapore and offers the largest global network of interconnected carriers, 650 in total, delivering the best API-based communications platform for messaging, programmable voice and chat apps, and phone verification services.
Vonage is a leading provider of cloud communications services for businesses. Vonage transforms the way people work and businesses operate through a portfolio of communications solutions that enable internal collaboration among employees, while also keeping companies closely connected with their customers, across any mode of communication, on any device.
The Goodwin team advising Nexmo included partner Larry Chu and associates Nathan Hagler, Katherine Tyler, Holly Hoch, and Matthew Melville (Corporate), partner Kelsey Lemaster and associate Alex Plaum (Tax), counsel Nic Frey and associate Monica Patel (ERISA/Employee Benefits), partner Koray Bulut and associates Jane Feddes and Sarah Tauman (Labor), partner Dan Burns and associates Mark Schenkel, Kevin Liu and Christina Wong (IP), partner Andrea Agathoklis Murino and counsel Todd Hahn (Antitrust), counsel Jacqueline Klosek and associate Lauren McDermott (Privacy), and partner Richard Matheny and associate Jacob Osborn (Foreign Trade Regulation).
For more details on the transaction, please read the press release.