Uniserve Communications Acquires RootCellar Technologies
July 16 2018 - 9:30AM
Uniserve Communications Corporation (“Uniserve” or
the “Company”) (TSX.V:USS) is pleased to announce that, further to
its new release on June 5, 2018, it has closed the acquisition (the
“Acquisition”) of certain assets of RootCellar Technologies
Corporation (“RootCellar”).
Uniserve’s CEO Nicholas Jeffery stated: “With
the acquisition of RootCellar, Uniserve will continue to drive its
revenues, its enterprise mix of business and strengthen its partner
alliances across Canada. Root Cellar will integrate well into
Uniserve’s existing business in Kitchener-Waterloo and will gain
the opportunity to work with a very experienced managed services
technology and sales solutions team. The deep knowledge that the
new team have of data storage and disaster recovery compliments the
existing managed service portfolio of Uniserve.”
Acquisition of Root Cellar
Pursuant to an Asset Purchase Agreement dated
May 23, 2018 (the “Asset Purchase Agreement”), the Company paid an
aggregate purchase price of $2 million (the “Purchase Price”) for
certain assets (the “Acquired Assets”) of RootCellar. The Acquired
Assets consist of all of the assets of RootCellar used in
connection with its information technology consulting services,
information technology security services, information technology
training, along with audit and remediation services. Additionally,
the Company entered into employment agreements with certain former
employees of RootCellar in connection with the operation of the
Acquired Assets. RootCellar projected revenue of $8m and EBITDA +
position of $800k at their year end July 31st 2018.
RootCellar Technologies is a hybrid IT Consulting firm,
supported by over a decade of trusted experience in the service of
security and mission critical data management. The highly skilled
Security Operational Center Team joining Uniserve will support the
mission critical Risk Management-as-a-Service.
RootSecure assets not included in the acquisition will operate
independently as RootSecure Corporation and will enter into a
reseller partnership with Uniserve who will continue to supply and
support RootCellar customers with its managed Cyber Risk Platform.
RootCellar Technologies delivers a unified backup and
replication software solution for virtual, physical, PC and cloud
environments, this will be fully integrated into Uniserves manage
service portfolio. This will complement the existing
portfolio delivering comprehensive suite of backup solutions that
range from flat file backup of your PC and server files, through to
full disaster recovery snapshots which are stored in our cloud.
About Uniserve
Uniserve is a 2018 TSX Venture top 50
performance company.Uniserve is a unified communications
company which has been trading for over 30 years, combining voice,
data and media all into one seamless solution, one bill and one
point of contact. The unique selling proposition of the business is
“SMART” Home, businesses and spaces (buildings and cities). With
13,000+ customers spread across residential and enterprise centered
around Vancouver, Calgary and Kitchener-Waterloo.
Uniserve prides itself on world class customer
service based in Canada. When all else is equal, clients can trust
Uniserve to have a great price, a great experience and to be a
company customers’ like working with – we call it “ONE click, call,
connect”.
This news release was prepared on behalf of the
Board of Directors, which accepts full responsibility for its
contents.Learn more at www.uniserve.com or at www.sedar.com.
Michael C. ScholzChairman of
the Board
For more information please contact Deanie Wong
deanie.wong@uniserveteam.com +1 6043953953
Neither TSX Venture Exchange nor its
Regulations Services Provider (as the term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Some of the statements contained in this release
are forward-looking statements, such as statements that describe
Uniserve’s plans with respect to the use of the proceeds of the
Private Placement, anticipated increase in Uniserve’s revenues and
the successful integration of the Acquired Assets into Uniserve’s
existing business in Kitchener. Since forward-looking statements
address future events and conditions, by their very nature, they
involve inherent risks and uncertainties, including the risks
related to market conditions and regulatory approval and other
risks outlined in the Company’s management discussions and analysis
of financial results. Actual results in each case could differ
materially from those currently anticipated in these
statement. These forward looking statements are made as of the
date of this press release, and, other than as required by
applicable securities laws, Uniserve disclaims any intent or
obligation to update publicly any forward looking statements,
whether as a result of new information, future events or results or
otherwise.
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