Vonage Share Gain

Vonage Holdings shares rose more than 7% after William Blair reportedly said the company won a major contract with a top 3 U.S. insurance provider with 100,000 seats that may be the largest Unified Communications as a Service, or UCaaS, deal in history of the channel.

William Blair said the company won the deal in January and added roughly 8,000 seats as of this month with the roll-out schedule to move from state to state with an estimated 24 months to finish. The contract could be worth as much as 10 times that of the recent real estate deal, which was recently disclosed on the May 9 earnings call, and is worth more than $10 million, reports said.