Ooma Inc said on Monday that it had acquired 2600Hz Inc, a leader in modern and flexible business communications applications targeted at resellers and carriers.
The deal was valued at about $33 million in cash.
2600Hz is anticipated to add nearly $7 million in annual recurring revenue to Ooma Inc.
The deal, which was finalized on October 20th, was partially financed by a new $30 million revolving line of credit facility with Citizens Bank N.A., Ooma said.
2600Hz has a global client base leveraging Kazoo, its open-source communications solution, and a suite of proprietary applications through open APIs to provide Unified Communications as a Service, Communications Platform as a Service, Call Center as a Service and AI tools and applications.
With the acquisition, Ooma will take over the development of 2600Hz’s technology road map and will complement the firm’s offerings with Ooma’s proprietary intellectual property.
“We’re delighted to welcome 2600Hz into the Ooma portfolio of business solutions,” Eric Stang, Chief Executive Officer of Ooma, said in a press release.
“This acquisition is complementary to our strategy to extend our leadership in serving business customers, both directly and now through other service providers, and it is expected to accelerate overall growth of Ooma and the reach of our solutions. We are excited to bring Ooma’s unique engineering expertise to better serve 2600Hz’s customers worldwide,” the CEO added.
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