Ooma acquires 2600Hz for about $33M in cash

Ooma announced that it has acquired 2600Hz for approximately $33M in cash, subject to customary purchase price adjustments. 2600Hz is expected to add approximately $7M in annual recurring revenue to Ooma. The transaction was completed on October 20, 2023. The purchase price was partially funded by a new $30M revolving line of credit facility with Citizens Bank, N.A. Additionally, following the closing, certain former 2600Hz employees who join Ooma will be granted equity awards under Ooma’s 2015 Equity Incentive Plan, subject to vesting conditions.