Fusion (NasdaqCM: FSNN), is a leading single source provider of integrated cloud solutions to small, medium and large businesses. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud communications, cloud connectivity, and cloud computing. Fusion’s innovative, yet proven cloud solutions lower their customers’ cost of ownership, and deliver new levels of security, flexibility, scalability, and speed of deployment.
Fusion today secured further penetration in the healthcare sector as it announced that a major East Coast hospital system has signed a three year, $1.5 million agreement with Fusion to upgrade the healthcare institution’s communications infrastructure, facilitating its migration to the cloud while protecting its significant technology investments. A key reason for the hospital system’s selection was reported to be Fusion’s ability to customize its secure, cloud-ready solution with call control technology that prevents fraudulent calls from reaching patients within the institution, supporting compliance requirements to shield patient information. The Fusion cloud solution will be deployed across the hospital system’s 40 locations. Fusion’s powerful administrative portal provides the institution with direct control over its extensive and expanding voice network. The solution’s intelligence resides within Fusion’s advanced cloud services platform. Resources are shared and burstable, enabling the hospital system to securely and cost-effectively route traffic based on rapidly changing requirements across its facilities. This built-in business continuity guarantees additional capacity should the need arise due to a natural or any other emergency.
Russell P. Markman, Fusion’s President of Business Services stated, “This trusted and acclaimed healthcare institution attracts patients from all over the world for its medical expertise and well-earned reputation for compassionate care. The hospital prides itself on its culture and tradition of quality and dedication to excellence. This is why we are especially gratified that this outstanding healthcare institution has placed its confidence in our award-winning cloud solutions. Like so many large healthcare institutions facing budget constraints at the same time as they expand to meet the growing needs of their communities, the hospital required a partner to help it migrate to the cloud cost effectively, allowing it to benefit from the cloud’s many advantages without needing to retire the institution’s existing infrastructure. With disparate communications systems spread across its many facilities, this world-class healthcare institution was able to protect its investments and meet its budget requirements with Fusion’s certified and fully interoperable cloud solution, securing the integrity of its patient’s information at the same time.”
Also note that Fusion, recently in December, made a $30 Million accretive acquisition of Ohio Based Fidelity Voice & Data which is reported to expand Fusion’s Pro Forma Annual Revenues to more than $115 Million and its business customer base to over 13,000. Fidelity provides cloud voice, cloud connectivity, security, data center and cloud storage services to approximately 2,000 small, medium, and large business customers in the Midwest and throughout the U.S. Fusion expects to complete the integration of Fidelity by the end of the second quarter of 2016. Total consideration in the transaction, which closed on December 8, 2015, was $30.0 million consisting of $28.5 million in cash and $1.5 million in Fusion common stock. The cash portion of the consideration was funded via Fusion’s existing bank credit facility and its cash balances. The transaction is immediately accretive to Fusion, with substantial opportunity for cost savings through elimination of redundancies. The purchase price represents a valuation of 5.0x pro forma Adjusted EBITDA. Fidelity is expected to contribute a revenue base of approximately $18 million per year, over 90% of which consists of monthly recurring revenues (MRR) & has been growing nearly 10% organically through the first nine months of 2015. The acquisition adds approximately $6 million in annual pro forma Adjusted EBITDA after giving effect to projected cost synergies. Fidelity also brings forth a customer base of approximately 2,000 businesses with a high average monthly revenue per customer (ARPU) of approximately $750 with a low churn rate of approximately 0.5% per month. Fidelity also offers a highly comparable set of cloud solutions and network infrastructure which can be tightly integrated into Fusion’s existing platform along with a strong team of experienced cloud technology professionals. – See more at: https://www.vistapglobal.com/2015/12/whoa-cloudcomputing-firm-fusion/#sthash.hdPIOSSy.dpuf
Lastly, please note that you can learn more about Fusion’s opportunity and download a FREE REPORT at Vista Partners company dedicated page.
Shares of Fusion (NasdaqCM: FSNN) closed today’s trading at $2.25 up +7.66% while the Dow closed at 15,767.15 down -1.55%.