Shares of Vonage Holdings Corp. (NYSE:VG) ended Wednesday session in green amid volatile trading. The shares closed up +0.31 points or 5.32% at $6.14 with 4.22 million shares getting traded. Post opening the session at $6.08, the shares hit an intraday low of $5.92 and an intraday high of $6.19 and the price vacillated in this range throughout the day. The company has a market cap of $1.31 billion and the numbers of outstanding shares have been calculated to be 216.43 million shares.
Vonage Holdings Corp. (VG) on Sept. 14, 2016 launched a next-generation voice API through recently-acquired communications platform, Nexmo. Integrated with Vonage’s carrier-grade network, which terminates 15 billion minutes of global voice traffic annually to landline and mobile phones, the new Nexmo API provides a higher quality programmable voice experience than what is competitively available in the market.
The Nexmo Voice API enables developers to build modern enterprise communications customized for any app, website or voice-based communications system, faster and easier than its previous APIs. The Nexmo Voice API also enables integrations with existing business workflow software to drive enhanced productivity. This next-gen voice API allows companies to create communications solutions that can increase customer engagement and enhance the customer experience with just a few lines of code.
“When Vonage purchased Nexmo only a few months ago, we knew we could pair Nexmo’s APIs with Vonage’s voice network to deliver a higher quality programmable voice experience to the market,” said Alan Masarek, Vonage CEO. “We are encouraged by the speed with which we were able to bring enhanced voice capabilities to the Nexmo platform to accelerate the launch of the new voice API.”
Shares of Seagate Technology PLC (NASDAQ:STX) ended Wednesday session in red amid volatile trading. The shares closed down -0.07 points or -0.19% at $36.07 with 4.07 million shares getting traded. Post opening the session at $36.09, the shares hit an intraday low of $35.46 and an intraday high of $36.63 and the price vacillated in this range throughout the day. The company has a market cap of $10.70 billion and the numbers of outstanding shares have been calculated to be 298.61 million shares.
Seagate Technology PLC (STX) on September 9, 2016 announced a secondary block trade transaction of approximately 12.5 million ordinary and existing shares. Participating in this transaction are ValueAct Capital and Seagate Technology, as a result of which ValueAct Capital will become one of Seagate’s largest shareholders with approximately 9.5 million ordinary shares upon transaction closing. In connection with the transaction, ValueAct has been invited to serve as an observer on Seagate’s Board of Directors. The transaction is conditioned on customary regulatory approval which is expected by the end of September.
“We are very pleased to have ValueAct Capital as one of our largest investors. Seagate approached ValueAct to execute this transaction and become an investor in our company, given their commitment to and success in creating long-term value for the companies in which they invest. The Seagate Board and management team are looking forward to engaging with the ValueAct team as we leverage their experience and resources to further strengthen the company and create long-term investment appreciation for Seagate shareholders,” said Steve Luczo, Seagate’s chairman and chief executive officer.
“Seagate has a strong storage technology portfolio and is well positioned to benefit from attractive long-term secular trends,” said Mason Morfit, ValueAct Capital’s president. “We are very excited about the opportunity to work with the Seagate team, at both the Board and management level, to help increase long-term value for all shareholders.”