Wiley Rein Advises VoIP Provider magicJack in Acquisition by Investment Company
Washington, DC— Wiley Rein LLP serves as regulatory counsel to magicJack VocalTec, Ltd. (magicJack), a leading Voice over Internet Protocol (VoIP) cloud-based communications company, which is being acquired by B. Riley Principal Investments LLC, as announced in today’s merger agreement by both entities.
It is anticipated that magicJack will be held by B. Riley Principal Investments, a subsidiary of parent company B. Riley Financial, Inc. (B. Riley). B. Riley Principal Investments currently owns United Online, Inc., a complementary telecommunications company. B. Riley signed a definitive merger agreement with magicJack to acquire the company for $8.71 per share.
The closing of the transaction, valued at approximately $153 million, is subject to the receipt of certain regulatory approvals and the approval of magicJack shareholders, among other closing conditions.
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