NewVoiceMedia, an industry-leading cloud contact centre-as-a-service provider, based at Basingstoke, has been acquired by US company Vonage Holdings for an equity price of $350 million (£266m). Law firm Osborne Clarke worked alongside Weil, Gotshal & Manges and also advised the management team on the process.
The acquisition combines Vonage’s robust solutions with NewVoiceMedia’s pure-play cloud contact centre offerings, providing an end-to-end communication experience for a company’s employees and customers.
Based in Basingstoke, NewVoiceMedia is the largest privately-owned, pure-play, cloud contact centre company in the world. Having advised the company since its series B funding round, it is a long-standing Osborne Clarke client. The relationship with NewVoiceMedia began with Ray Berg, now the firm’s UK managing partner, who first started working with the management team in 2011.
“We are thrilled to announce the acquisition of NewVoiceMedia, which represents a major step forward in the realisation of our strategic vision to deliver a differentiated, fully-programmable communications solution that drives more meaningful customer interactions and better outcomes for businesses,” said Vonage CEO Alan Masarek.
The Osborne Clarke team who advised on the transaction was led by partner Robert Wood, head of Osborne Clarke’s Thames Valley office in Reading. Wood was assisted by associate directors Ken Wilkinson and Mike Freer and associate Josephine Healy. Partner Michael Carter and associate Rhiannon Jones advised on the unwinding of NewVoiceMedia’s share option plans.
“We are delighted to have been involved in this strategically important transaction for NewVoiceMedia. The transaction was negotiated in a very short timetable. Timing and NewVoiceMedia’s large shareholder and option holder base made the deal both challenging and exciting in equal measure,” said Robert Wood.
Guy Sochovsky, chief finance officer at NewVoiceMedia, said: “We have worked hand-in-hand with Osborne Clarke for many years. They are trusted partners who provide clear commercial advice and insightful knowledge of business transactions. Working with our other advisors, Osborne Clarke helped us to find the optimal deal structure and then quickly mobilised the necessary team to help us execute it, all of which was hugely valued.”
Dennis Fois, CEO of NewVoiceMedia, commented: “Vonage and NewVoiceMedia share a powerful vision to serve businesses with cloud communications that connect employees and enable personalised conversations with their customers and prospects. Together, we can help businesses create richer experiences through a state-of-the-art, global, programmable cloud communication platform.”
NewVoiceMedia will continue to be led by Fois, who has more than 25 years of experience in international leadership, strategy, sales and marketing in the technology and financial services markets. Upon closing, the senior leadership team and its more than 400 employees, comprised of talented business leaders, skilled technologists, and a strong sales organisation, will join Vonage. Together, they will create an expanded customer experience centre of excellence.