June 18, 2018

Put It In The Books: Fusion Completes MegaPath Acquisition

When it comes to mergers and acquisitions, it does not occur overnight. From the announcement to completion, it can take some time to “Put it in the books,” as Mets broadcaster Howie Rose would say. But once locked in, a newly formed entity emerges with an eye to the future and fresh solution set to offer.

Today, Fusion announced the completion of its MegaPath acquisition. The $71.5 million purchase was made up of $61.5 million in cash and 1.7 million shares of the cloud communication provider’s stock. MegaPath brings its customer base and a nice boost to annual revenue.

In terms of management structure, Fusion officially named Dan Rosen as Chief Revenue Officer. Formerly serving as President and Chief Operating Officer at MegaPath, Foster is tasked with driving company sales, marketing and go-to-market strategies.

Mathew Rosen, Fusion's Chairman and CEO, explained, "MegaPath is an ideal fit with Fusion, and the acquisition demonstrates that we are well on our way toward achieving our intermediate financial objectives of $750 million in annual revenue and $185 million in annual Adjusted EBITDA. MegaPath brings to Fusion a skilled team of technology professionals, a robust, fully-integrated suite of cloud services, and enhanced sales, digital marketing, and distribution capabilities. I am also excited to welcome Dan Foster to Fusion and look forward to his contributions to further driving the company's organic growth.”   

Fusion is compiling quite the comprehensive cloud portfolio. In less than two months since acquiring Birch, integration is ahead of plan. And, the cloud services provider expects MegaPath synergies to be completed by the end of the calendar.  Fusion is your one-stop cloud shop.

What does your organization have in the cloud?

Edited by Maurice Nagle



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