Gamma announced its intention to acquire Starface in January, with the deal to help fuel its ambition to challenge Deutsche Telekom and Vodafone Germany in the German cloud communication market.
The UK firm has acquired 100% of Starface for €196 million (£162 million) on a cash-free, debt-free basis, with Gamma adding the acquisition will provide it with an additional 210,000 cloud Private Branch Exchange (PBX) seats, bringing its total sold in Germany to more than 500,000.
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Andrew Belshaw, CEO of Gamma, said: “We are delighted to have completed the acquisition of STARFACE. This marks the beginning of an exciting new chapter, allowing us to accelerate cloud adoption and innovation across the DACH region.
“We look forward to working closely with our new colleagues, partners, and customers to drive the future of cloud communications across Europe.”
Founded in 2005, Starface provides business communication and collaboration software solutions in Germany, while also serving customers in Austria and Switzerland.
Headquartered in Karlsruhe, in Southwest Germany, Starface boasts additional offices in Munich and Starnberg and employs around 260 people.
Florian Buzin, Starface’s founder and chief executive expressed excitement about joining with Gamma back in January, saying: “This partnership builds on Starface's legacy of innovation and channel excellence while unlocking new opportunities for growth and collaboration.
“Together, we are in an excellent position to lead the next chapter of cloud communications in Germany and beyond.”
The acquisition is primarily funded through around £125 million from Gamma's existing cash resources, with the remaining £40 million funded through a new £130m multicurrency Revolving Credit Facility.
Gamma confirmed in a regulatory filing that the undrawn portion of the facility will be available for “further uses”.
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