B. Riley to Acquire magicJack VocalTec Ltd. for $8.71 Per Share
MAGICJACK VOCALTEC (CALL)
Last magicjack vocaltec earnings: 8/9 04:38 pm
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US:NASDAQ Investor Relations:
vocaltec.com/releases.cfm
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Source: GlobeNewswire
LOS ANGELES, Calif. and WEST PALM BEACH, Fla. and NETANYA, Israel, Nov. 09, 2017 (GLOBE NEWSWIRE) -- B. Riley Financial, Inc. (“B. Riley”)(NASDAQ:RILY), a diversified financial services company, and magicJack VocalTec, Ltd. (“magicJack”)(NASDAQ:CALL), a leading Voice over IP (VOIP) cloud-based communications company, have signed a definitive merger agreement, pursuant to which B. Riley will acquire magicJack for $8.71 per share, representing a 23% premium over magicJack’s 90-day average stock price and approximately $143 million in aggregate merger consideration. It is anticipated that magicJack will be held by B. Riley’s subsidiary B. Riley Principal Investments, LLC, the entity that currently owns United Online, Inc., a complementary telecommunications company. B. Riley expects to finance the transaction using cash on hand and debt financing. “With magicJack, we look to replicate the success we’ve had with our United Online acquisition by again leveraging our operational expertis
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