Fusion Finalizes Birch Acquisition
Cloud communications are picking up steam, as growing adoption rates are cementing the future of this transformative technology. Providers are positioning for future prosperity, and a popular method of doing so is through mergers and acquisitions.
Fusion is a firm well versed in the facilitation of growth via acquisition, finalized the purchase of Birch Communications Cloud and Business Services business. The deal included 50 million shares of Fusion common stock and refinances Birch’s debt totaling $444 million, with a total value of the transaction around $600 million.
Matthew Rosen, Fusion’s Chairman and CEO, said, “Today marks the beginning of an exciting new era for Fusion, as we now move forward to realize the tremendous potential of the combined company. In bringing the two businesses together, we have created a market-leading Cloud Services company that is positioned for further growth, both organically and through additional strategic acquisitions.”
What does the acquisition mean? Well, for starters, the newly formed entity is instantly an industry-leading cloud and business services company boasting more than $500 million in pro forma annual revenue. Fusion acquires an expert squad of technology professionals. The two firms will integrate infrastructure to create one of the largest fully IP-based networks in North America.
In addition, the deal delivers Fusion the ability to be all systems go for its single-source strategy across an expanded customer base – not to mention Birch’s sales distribution and sales resources.
Rosen continued, “We are confident that Fusion can create significant, long-term value for shareholders by extending our proven strategy as the single source for the cloud across our greatly expanded platform and customer base and leveraging our substantially greater scale and resources.”
With the cloud, sky’s the limit. As provider after provider put these pieces together, the coming years will deliver a space chock full of innovation, acquisitions and change. They say, “Fortune favors the bold,” and Fusion is featuring a future-forward vision.
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Edited by Maurice Nagle