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In the
domain industry Mike
Mann long ago cemented his position as
one of the giants in the space. Over 20 years ago
he amassed a portfolio of hundreds of thousands
of high quality domain names while also building
the premier domain aftermarket platform of the era in
BuyDomains.com, a company he sold in
2005. In our business, due to Mike's prodigious
success with domains, what
he has accomplished as a company
builder and serial entrepreneur
probably hasn't been as celebrated as it should
be. The
latest proof of that came this morning when Ooma,
Inc., a smart communications platform
for businesses and consumers, announced
that it has signed a definitive agreement to
acquire Phone.com for approximately $23.2
million in cash, subject to customary working
capital adjustments. Phone.com is a provider of
cloud-based business communications for small and
medium-sized organizations that Mike founded in
2006. The
acquisition of Phone.com is expected to be
accretive to Ooma’s adjusted EBITDA and non-GAAP
earnings per share starting on the closing date of
the transaction, which is expected to occur in the
fourth quarter of Ooma’s fiscal year that ends January
31, 2026, subject to the receipt of required
regulatory approvals and satisfaction or waiver of
other customary closing conditions. Phone.com is expected
to generate $22-$23 million in revenue and $1.0-$1.5
million in adjusted EBITDA annually,
based on current run rates and before
synergies. |
Mike
Mann
Phone.com Founder
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