Bandwidth expects third-quarter results above expectations, to buy Voxbone for equivalent of $527 million

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Bandwidth Inc. announced Monday an agreement to buy Europe-based cloud communications company Voxbone in a deal valued at EUR446 million ($527.2 million). Bandwidth said the acquisition accelerates its international strategy by “several years,” and allows it to play a greater role in helping transform enterprise cloud communications. Separately, Bandwidth said it expects third-quarter revenue and adjusted earnings per share to be above previously provided guidance ranges. On July 30, the company said it expected an adjusted per-share loss of 3 cents to 1 cent and revenue of $76.0 million to $76.5 million. The current FactSet consensus is for a loss of 2 cents a share and revenue of $76.3 million. Bandwidth’s stock, which is still inactive in premarket trading, has nearly tripled (up 178.1%) year to date, while the S&P 500 has gained 7.6%.
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