ClearOne to Acquire VCON Video Conferencing Ltd. for $4.5M
ClearOne (NASDAQ: CLRO) today announced the acquisition of Israel-based VCON Video Conferencing, a leader in high-performance, end-to-end, software video conferencing solutions.
ClearOne entered into a definitive agreement to acquire substantially all the assets of VCON. Under the terms of the asset purchase agreement, ClearOne will pay $4.5 million in cash and will not assume any debt or cash. The acquisition is expected to close by the end of this quarter, subject to customary closing conditions, including applicable regulatory and court approvals.
VCON has established a comprehensive portfolio of industry-leading HD videoconferencing solutions comprising feature-rich room systems and desktop video applications, as well as enhanced network management and infrastructure solutions. With the acquisition of VCON, ClearOne will offer a complete suite of audio and video conferencing and collaboration solutions.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.