Fusion Acquires Cloud Services Provider PingTone
November 4, 2014
Grazed from MarketWired. Author: PR Announcement.
Fusion (NASDAQ: FSNN), a leading provider of cloud communications, cloud connectivity and cloud computing services, announced today that it has closed on the purchase of all of the outstanding shares of stock of PingTone Communications, Inc., a provider of integrated cloud-based communications services headquartered in Herndon, Virginia. Founded in January 2001, PingTone generated LTM revenue of $8.1 million as of June 30, 2014 and pro forma adjusted EBITDA of $2.1 million, giving effect to anticipated cost synergies.
The PingTone transaction is Fusion’s third acquisition in twenty-four months. It reflects the success of the company’s strategy to grow through acquisition as well as organically, and meets its acquisition criteria in several significant ways. The acquisition will be immediately accretive to Fusion’s EBITDA. In addition, it adds a loyal and growing enterprise customer base with high ARPU, positions the company to impact organic growth with a talented team of managers and staff to further help the company scale, provides a strong cross-sale and up-sale opportunity and can be tightly integrated into the company’s existing infrastructure…
Read more from the source @ http://www.marketwired.com/press-release/fusion-acquires-cloud-services-provider-pingtone-nasdaq-fsnn-1963656.htm