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Cloudcall Group plc on 9 December 2021 that it is to be acquired by Silicon Valley tech firm Xplorer Capital Growth I, LLC—a recently formed company, owned by funds managed and advised by Xplorer Capital Management LLC. The announcement of Cloudcall Group’s takeover, for approximately £39.9m (81.5p per share in cash), subsequently led the share price of the UK-based, computer telephony integration company to 66.3% from 47.5p to 79p.

CloudCall Group’s directors have unanimously recommended that shareholders vote in favour of the scheme of arrangement at the company’s upcoming court meeting. The company expects that the acquisition is to be completed during the first quarter of 2022. It was advised to the financial terms of the acquisition by Canaccord Genuity Ltd.

Speaking on CloudCall Group’s acquisition, the company’s non-executive chair stated the following:

‘Over recent years, the management of CloudCall has continued to develop its product mix, enhanced its client base and positioned itself for growth. However, CloudCall operates in a highly competitive environment where many of its peers are larger and better capitalised and CloudCall will require additional funding to continue to support its strategy and remain competitive. Against this backdrop, I believe the offer from Xplorer Capital represents an attractive premium, provides certain value today for CloudCall shareholders and provides CloudCall with the opportunity to access significant further capital to implement CloudCall's strategy in the future.’