Enterprise cloud communications company Bandwidth Inc. closed the acquisition of international enterprise cloud communications company Voxbone SA/NV for an enterprise value of €446 million.
The consideration to Voxbone shareholders comprised cash in the amount of nearly €354.6 million, with the rest being paid in 663,394 shares of Bandwidth class A common stock, thereby amounting to about €91.3 million.
The deal is expected to expand Bandwidth's international footprint, with Voxbone set to operate under the Bandwidth brand.
Voxbone's Chief Revenue Officer Amaya Lantero will now serve as the general manager of Bandwidth's international operations.
Private equity firm Vitruvian Partners LLP has owned the majority of Voxbone since 2015.