Vonage to use revolver borrowings for NewVoiceMedia acquisition

By Sara Rosenberg

New York, Sept. 20 – Vonage Holdings Corp. plans to use existing revolving credit facility capacity to help fund its purchase of NewVoiceMedia for $350 million, according to a news release.

Other funds for the transaction will come from cash on hand and cash on the balance sheet of NewVoiceMedia.

Pro forma net debt to last-12-months adjusted OIBDA will be about 3.3 times and is expected to be below 3 times within two quarters.

Closing is expected in the fourth quarter, subject to regulatory review and other customary conditions.

Vonage is a Holmdel, N.J.-based cloud communications company. NewVoiceMedia is a provider of cloud contact center technology.

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