News : Fusion Announces Agreement to Acquire TFB
New York, NY, USA, March 28, 2016 -- Fusion (NASDAQ: FSNN), a provider of cloud services, announced that it will significantly expand its product offering in the Contact Center market through the acquisition of Technology for Business Corporation (TFB).
The Manhattan Beach, California-based company provides Contact Center solutions to enterprises. The acquisition will provide cross-selling and up-selling opportunities as TFB's customers are seamlessly migrated to Fusion's cloud solutions platform.
Fusion and TFB have a signed a definitive agreement for Fusion to acquire the intellectual property and assets of TFB, with TFB's CEO, Charles Cuggino and TFB's VP of Sales, Will Jones, joining Fusion to lead the continued growth of Fusion's Contact Center business. TFB's software development team will also join Fusion. Fusion expects the transaction to close within 30 days.
Don Hutchins, Fusion's President and Chief Operating Officer, said, "We expect to quickly integrate TFB's infrastructure into Fusion so we can immediately offer a full, cloud-based Contact Center solution both to existing Fusion and TFB customers, and to new customers who recognize the sizable benefits of working with a single source cloud solution provider. We anticipate this acquisition will contribute positively to Fusion's adjusted EBITDA."
Posted by Veronica Silva Cusi, news correspondent
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Fusion is a provider of integrated cloud solutions to small, medium and large businesses. Fusion's cloud service platform enables the integration of solutions in the cloud, including cloud communications, cloud connectivity, cloud computing and other cloud services such as storage and security. Fusion's innovative, yet proven cloud solutions lower our customers' cost of ownership, and deliver new levels of security, flexibility, scalability and speed of deployment.
Published: Wednesday, March 30, 2016