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Holmdel-based Internet communications company Vonage Holdings Corp. has agreed to buy a communications platform-as-a-service company for $230 million, it announced Thursday.The cash-and-stock deal for privately held Nexmo Inc. will bolster Vonage’s position in the cloud communications sector, it said in a news release.

“In 2014, we set out on a mission to become the clear leader in cloud communications for business,” Alan Masarek, Vonage CEO, said in a prepared statement. “With the acquisition of Nexmo, we are now uniquely positioned to lead the market. By combining Vonage’s rapidly growing unified communications-as-a-service business with Nexmo, the second-largest player in CPaaS, we are creating the future of cloud communications.

“These companies represent a set of strategic, technology and human resources assets that deliver the broadest services offering in our industry.”

Nexmo, which is based in San Francisco and operates globally, provides communication application program interfaces for text and voice communications, Vonage said. The company has more than 350 enterprise customers, Vonage added.

Tony Jamous, co-founder and CEO of Nexmo, will join Vonage as president of Nexmo, a Vonage company, along with co-founder Eric Nadalin, chief technology officer, and Nexmo’s 170 employees, Vonage said.

Under the terms of the transaction, Nexmo shareholders will receive $195 million at close, with $159 million of that in cash, and up to $36 million in stock. Vonage said it is allowed to substitute $23 million in cash for stock, and Nexmo stakeholders could receive up to $20 million in performance contingency payments. The additional $35 million in the purchase price is restricted cash and stock for Nexmo management and employees, subject to vesting requirements.

J.P. Morgan Securities LLC served as Vonage’s lead financial adviser, as well as providing a fairness opinion to its board. Weil, Gotshal & Manges LLP served as Vonage’s legal counsel.

G2020 Advisors LLC was Nexmo’s financial adviser, while Goodwin Procter LLP was its legal counsel.