Integrated cloud solutions provider
Fusion has acquired internet and cloud company Fidelity Voice and Data (Fidelity). Fusion, whose head offices are in New York, has a presence across the United States – New Jersey, Florida, Georgia, Northern Virginia, and Washington. The company caters to companies of a range of sizes with integrated cloud solutions that includes its own cloud service platform. Fusion’s platform allows users to integrate “leading edge solutions in the cloud, including cloud communications, cloud connectivity, and cloud computing”. Its acquisition of Fidelity cost the company $30.0 million ($28.5 million in cash and $1.5 million stock).
Fidelity, which has headquarters in Beachwood, Ohio, United States, has revenue of around $18 million per year. The company caters to around 2,000 business customers (predominantly in the US Midwest) with services that extend to “cloud voice, cloud connectivity, security, data center and cloud storage services”. Fusion’s acquisition of the company is likely to be complete around the second quarter of 2016. The move underscores its “growth through acquisition” policy.
“The acquisition of Fidelity brings Fusion closer to its goal of building significant scale in the fragmented but rapidly growing cloud services market,” explained the Chief Executive Officer of Fusion, Matthew Rosen. “Fidelity will also contribute to Fusion’s organic growth, accelerating Fusion’s progress over the last year in expanding its business. We intend to drive additional organic growth by cross-selling and up-selling Fusion’s comprehensive suite of integrated cloud solutions and leveraging the benefits of Fusion’s nation-wide network to Fidelity’s current customer base”.
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