Uniserve Communications Acquires RootCellar Technologies
VANCOUVER, British Columbia, July 16, 2018 (GLOBE NEWSWIRE) -- 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.
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Michael C. Scholz
Chairman of the Board
For more information please contact Deanie Wong
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.
