net2phone Acquires Versature

net2phone, a provider of unified communications services and subsidiary of IDT, has acquired Versature, a cloud-based business communications solutions and hosted VoIP provider serving Canada. Financial terms of the deal were not disclosed.

"We are delighted to welcome Versature's management and employees, customers and partners to net2phone," said Jonah Fink, net2phone's president, in a statement. "Our two companies share a customer-centric philosophy and a commitment to developing and deploying powerful integrated communications and collaboration features. This shared vision will enable Versature and net2phone to continue providing Canadian companies with the outstanding cloud-based communications services they demand."

"This transaction will accelerate Versature's growth trajectory in Canada through a powerful alignment of values and innovative technology for voice and call analytics combined with greater access to capital," said Versature's president and chief operations officer, Jonathon Moody, in a statement. "As a result, Versature will scale Canadian operations by attracting top talent while continuing to innovate and aggressively pursue opportunities in the Canadian market."