FSNN coming soon!
Recent Events
The growth strategy of Fusion in terms of both large sale organic growth and growth through acquisition has been evidenced by two recent, announced events.
In January, 2012, Fusion announced that it had entered into an exclusive agreement for cloud services and communications solutions with the group purchasing organizations (“GPOs”) of the Greater New York Hospital Association (GNYHA). Fusion and the GPOs will offer the more than +15,000 GPO members in healthcare and other vertical markets a full range of cloud services, including cloud computing, disaster recovery, storage and security . Through this agreement, Fusion may also provide GNYHA members hosted voice and data solutions that include a full complement of advanced service features, unified communications and presence, Internet and other broadband data services, as well as a comprehensive portfolio of leading edge hardware designed to meet the specific needs of the healthcare industry. These services may be offered directly by Fusion or in partnership with major hardware, software and systems integration partners.
In January, 2012, Fusion announced that it had entered into purchase agreements to acquire the business currently operated by Network Billing Systems, LLC and Interconnect Systems Group II LLC (collectively, “NBS”). The aggregate purchase price for the NBS acquisition transaction is $20 million. NBS currently provides voice (including VoIP) and data telecommunications services, as well as a wide variety of managed and cloud-based telecommunications services, to small and medium sized companies. NBS has approximately 5,000 customers and for FY 2011 generated (unaudited) revenues of approximately $26.8 million and over $3 million in net income (unaudited). The Company expects that as a result of the acquisition of NBS, it will, on a consolidated basis, generate positive EBITDA. In addition to the financial benefits which are foreseen to accrue from the acquisition, Fusion believes this acquisition will accelerate its organic growth plans and provide a compelling platform for future acquisitions.
August, 2012 - FUSION has received a $16.5 Million Debt Investment commitment with VERY Favorable Terms from TWO MAJOR FIRMS to Support the Recently Announced Acquisition.
