M&A UCaaS and Telecom: Crexendo Communications acquires Allegiant Networks

M&A UCaaS and Telecom: Crexendo Communications acquires Allegiant Networks

UCaaS Answer Supplier Crexendo will purchase Allegiant Networks, LLC to develop Crexendo’s operations and footprint within the U.S. Midwest, significantly in Kansas and Missouri.

Crexendo will purchase 100% of the shares of Allegiant in trade for money, inventory and a purchaser’s word. Upon closing of the transaction, Crexendo will make a money cost of $2 million, problem 2,461,538 widespread shares of Crexendo which might be restricted underneath Rule 144 and ship a payable invoice in favor of Brian Dancer for the remaining $1.1 million of the acquisition value, which might be topic to breach of representations or different compensation as set forth within the acquisition settlement, the businesses stated. Shares issued underneath the transaction might be totally blocked for a interval of six months from the date of problem and topic to blocking thereafter. Below the lock-up settlement, after six months, 25% of the shares could also be bought, and an extra 25% could also be bought each six months thereafter. The settlement additional features a “break” charge, which have to be paid if both social gathering terminates the settlement earlier than closing, aside from breach of the settlement or lack of regulatory approval. Completion of the transaction is anticipated within the fourth quarter of 2022.

Crexendo acquires Allegiant Networks

That is expertise M&A deal quantity 921 that ChannelE2E has coated to this point in 2022. Discover over 2,000 technology M&A deals involving MSPs, MSSPs and IT service providers listed here.

Crexendo, based in 1995, is predicated in Tempe, Arizona. The corporate has 104 staff listed on LinkedIn. Crexendo’s areas of experience embody Hosted Communications, Contact Middle, Cloud Communications, Unified Communications, Cloud-Based mostly Enterprise Cellphone Programs, VoIP, Workforce Messaging and Collaboration, Video Conferencing HD, skilled providers, enterprise communications, workplace telephone system, UCaaS, CCaaS, Web telephone, communication instruments for distant work and SaaS.

Allegiant Networks, based in 1974, is predicated in Overland Park, Kansas. The corporate has 50 staff listed on LinkedIn. Allegiant’s areas of experience embody Managed Providers, VoIP Telecommunications, Cloud Options, Avaya, Mitel, AT&T, WatchGuard, Ruckus, vCIO, Information Facilities, Infrastructure Cabling, Safety, Microsoft and VMware .

The deal will construct on Crexendo’s M&A progress technique and permit Crexendo to develop its attain and choices, significantly within the Midwestern United States, the businesses stated. Following the acquisition, Mr Dancer will be part of Crexendo as Govt Vice President.

Steve Mihaylo, CEO, Crexendo

Steven G. MihayloCEO of Crexendo, commented on the information:

“We consider Allegiant might be an vital addition to Crexendo’s suite of choices, accelerating our progress technique and increasing our nationwide presence, significantly within the Midwest. With the mixed scale, we are going to deliver a bigger steadiness sheet and a larger set of buyer advantages to market. Allegiant’s complete suite of providers, anchored in its world-class knowledge heart, is a crucial addition to Crexendo’s portfolio. This transaction is anticipated to be extremely accretive. The proposed transaction illustrates Crexendo’s entry and consolidation technique in engaging progress markets, low danger and ease of execution that doesn’t distract from our natural technique. We look ahead to welcoming Allegiant staff and clients to the Crexendo household. »

Brian DancerCEO of Allegiant, commented:

“Allegiant and Crexendo have intently aligned cultures with shared enterprise values ​​centered on worth and customer support. Our shared ardour to supply the perfect providers and the perfect help is the primary motive why I needed to hitch Crexendo. I do know that our clients, our staff and our applied sciences are in good arms and our affiliation will solely enhance the service that Allegiant clients obtain. This acquisition will be part of two customer-centric and service-oriented corporations centered on doing enterprise effectively. We’re thrilled to hitch the Crexendo household and collectively change into a significant presence within the business.

UCaaS M&A exercise

Unified Communications-as-a-Service (UCaaS) mergers, acquisitions, and personal fairness offers have slowed over the previous yr, probably because of valuation points or aggressive points involving Microsoft Groups, Zoom, Salesforce Slack and Cisco WebEx, amongst others.

Nonetheless, some transactions are in progress. M&A exercise usually entails UCaaS corporations that supply cloud and software program options for collaboration, voice, video, and call heart as a service. Here is the list of ChannelE2E’s UCaaS M&A transactions, which we update regularly.

#UCaaS #Telecom #Crexendo #Communications #acquires #Allegiant #Networks

Leave a Comment

Your email address will not be published.