ClearOne (NASDAQ: CLRO) said it has entered into an agreement to acquire Spontania from Spain-based Dialcom Networks, S.L. in an all-cash deal for EUR3.65m (approximately USD5.0m).
Spontania is a software-based cloud collaboration solution which combines the benefits of video conferencing and web conferencing into a unique, effective and powerful enterprise solution that can scale to tens of thousands of users.
The addition of Spontania makes ClearOne the only company offering an entirely software-based video conferencing product line that provides on-premise and cloud-based Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) solutions.
ClearOne said it will fund the acquisition of substantially all the assets of Spontania business with available cash and will not assume any debt or cash. The acquisition is expected to be accretive immediately and should close by the end of the first quarter of 2014, subject to customary closing conditions, including applicable regulatory approvals.
ClearOne is a global company that designs, develops and sells conferencing, collaboration, streaming and digital signage solutions for voice and visual communications. More information about the company can be found at www.clearone.com.