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Vonage Holdings Corp. closed the acquisition of Nexmo Inc., a San Francisco-based communications platform-as-a-service provider, for $230 million in cash and stock.
Nexmo shareholders will receive an additional earn-out of up to $20 million if Nexmo meets certain performance targets in cash or stock at Vonage's election. Of the consideration, $195 million was paid at close, consisting of $163 million of cash and about 6.8 million in shares of Vonage common stock valued at...