Cloud Services Provider Fusion (FSNN) Heading to Conferences in Los Angeles & Chicago Post Q3 Results
Fusion (FSNN), a leading provider of cloud services announced it CEO Matthew Rosen will present at the 10th Annual LD Micro Main Event at 9:00 a.m. PT. on Tuesday, December 5, 2017.
The conference will be held at the Luxe Sunset Boulevard Hotel in Los Angeles, California.
On Thursday, December 14, 2017, Mr. Rosen will attend The Benchmark Company Micro Cap Discovery One-on-One Conference in Chicago, Illinois. The conference will be held at the Palmer House Hilton hotel in Chicago, Illinois.
On November 13th Fusion announced their financial results for the third quarter ended September 30, 2017.
Matthew Rosen, Fusion’s CEO stated, “Fusion continued to deliver solid financial performance during the third quarter of 2017, with nearly 40% growth in Business Services revenue and nearly 150% growth in Adjusted EBITDA, thanks to the contribution from the Apptix acquisition as well as solid sales bookings and installations, customer novations, and continued low churn. These results clearly demonstrate the power of our compelling strategy as the single source for the cloud.nSince we announced our definitive agreement to acquire the Cloud and Business Services business of Birch in late August, both companies have been planning for the integration of our people, products, networks, and systems to ensure that the combined company – which will be one of the largest cloud services providers in North America – is positioned to begin realizing the benefits of the combination immediately after closing. We have also made substantial progress on the steps required to complete the transaction, including antitrust filings and filings with the FCC and a number of state regulatory agencies, and we expect to file the preliminary proxy this week. Given the upcoming holiday season, we believe that the process of obtaining regulatory approvals will take the close of the acquisition into the first quarter of 2018.”
Michael Bauer, Fusion’s CFO, stated, “We are very excited to complete the Birch transaction. The combined company is projected to have approximately $575 million in pro forma annual revenue and over $150 million in pro forma annual Adjusted EBITDA, including over $20 million in expected cost synergies. We expect the transaction to be significantly accretive immediately upon closing, to considerably lower our leverage ratio and improve our financial flexibility, and to generate strong positive free cash flow on an ongoing basis.”
Shares of FSNN today closed up nicely up+8.14% at $3.72 on volume of 641,274 shares.