“In addition to significantly elevating our cloud solutions value proposition, Catapult adds a complementary client base, highly talented human capital, and an attractive recurring revenue profile. “The combination of Quisitive and Catapult will bring together top providers to create one of the most preeminent partners in the Microsoft ecosystem,” said Quisitive CEO Mike Reinhart. Further positions the Company as a leading Microsoft partner with 10 Microsoft Advanced Specializations and 17 Microsoft Competencies.Bolsters Quisitive’s Cloud Solutions offering by augmenting its Digital Workplace practice and establishing a robust Security practice.Provides geographic and personnel scale increasing total employee hubs to 15 across the globe and over 700 combined employees.Creates significant sales and marketing synergies across the combined client base enabled by a consolidated sales and solutions team of over 50 dedicated cloud solution sellers and solutions specialists.Diversifies Quisitive’s recurring revenue through the addition of Catapult’s IP platforms, Spyglass, a solution accelerator for managing security in a Microsoft environment, and Azure Management Services (AMS), a service for continuous optimization and management of Azure for infrastructure, data and applications, which includes a proprietary monitoring and altering tool with IP.Establishes a premier global Microsoft partner within the cloud solutions space by combining two of the biggest U.S.Strengthens Quisitive’s senior leadership team with veteran industry leaders who have proven success with a similar philosophy of focusing exclusively on Microsoft platforms these leaders understand how to deliver high value services to customers, allowing key members of Quisitive management more time to focus on the payments solutions business as it begins to scale and grow.Management of the Company believes that the acquisition of Catapult is compelling based on the following key factors: The Transaction is expected to close on or about November 17, 2021. Completion of the Transaction is subject to a number of standard conditions for a transaction of this nature, including regulatory approval, and completion of an equity financing as further described below. The details of the Transaction are set forth in a definitive purchase agreement between Quisitive, Ltd., a wholly owned subsidiary of the Company, as purchaser, and a wholly owned subsidiary of Chinasoft International Limited (the “ Vendor”), that was negotiated at arm's length. The Transaction is expected to be accretive on an EBITDA and earnings basis in 2022. This combination also creates a formidable footprint in Texas.įor the trailing twelve months ended September 30, 2021, Catapult generated unaudited revenues of approximately US$52.2 million with nearly 35% from recurring revenue. The Transaction brings together two of the largest Microsoft exclusive technology partners and brings Quisitive’s combined run-rate revenue to over US$160 million. (“Quisitive” or the “Company”) (TSXV: QUIS), a premier Microsoft Solutions Provider and Payment Solutions Provider, has signed a definitive agreement dated Novemto acquire all of the issued and outstanding membership units (the “ Membership Units”) of Austin, Texas-based Catapult Systems, LLC (“ Catapult”), a Microsoft-focused digital solutions and services provider, for US$51.5 million in cash (the “ Transaction”). ![]() ![]() 08, 2021 (GLOBE NEWSWIRE) - Quisitive Technology Solutions, Inc. ![]() THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Quisitive’s Cloud Solutions Capabilities Further Bolstered by Catapult’s Robust IT Services Business and Relationship with Microsoft
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |