iBasis completes acquisition of PriceInteractive Inc.
Boston Business Journal
Burlington-based iBasis Inc., a provider of advanced Internet-based voice communications, announced that it has completed the acquisition of PriceInteractive Inc., a speech application service provider. Under the terms of the agreement, approved by iBasis shareholders, PriceInteractive shareholders will receive a combination of approximately 10.23 million shares of iBasis common stock and about $46 million in cash, in exchange for all outstanding common and redeemable preferred shares of PriceInteractive and vested options to acquire PriceInteractive common stock.
About 150 employees of PriceInteractive will remain based in Reston, Va. Dan Price, co-founder and CEO of PriceInteractive, has become a senior vice president, joins the iBasis board of directors and continues to run the Reston-based operation.
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