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.
In January, 2012, Fusion announced that it had entered into
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