Crexenxo has completed its $50m acquisition of cloud phone system provider NetSapiens.
The deal, first announced in March, sees Crexendo pay $10m and the rest in stock to NetSapiens shareholders.
Anand Buch, CEO of NetSapiens, said: “We have worked tirelessly to build NetSapiens to be the fastest growing UCaaS platform in the business.
“We knew that in order to keep growing market share we needed to find a partner who could help accelerate our growth.
“Crexendo proved to be the perfect partner; they share our passion for excellence; they share our desire to continue to improve our offerings and to keep providing services which are second to none to the NetSapiens community”
“Our teams will work closely together to continue to improve the combined company, to provide excellent service to all of our customers and to increase shareholder value.
Crexendo, which is based in Arizona, is a publicly listed company and announced its Q1 results last month.
Sales rose 17 percent year on year to $4.5m, with services making up $4.1m of the total figure. Operating profit swung from $181,000 in Q1 last year to a loss of $822,000.
