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B. Riley Principal Investments unit to sell Broadsmart Global for $7.4M

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B. Riley Principal Investments unit to sell Broadsmart Global for $7.4M

A subsidiary of B. Riley Principal Investments LLC on May 15 agreed to sell Broadsmart Global Inc. to smart communications platform Ooma Inc. for $7.4 million in cash.

The transaction is expected to close by the end of May. Broadsmart Global, which provides services such as audio and web conferencing and web collaboration, was previously a subsidiary of magicJack VocalTec Ltd., which B. Riley acquired in November 2018.

B. Riley FBR Inc. was B. Riley Principal Investments' financial adviser on the deal.