Fusion Connect Announces The Sale of Wholly-Owned Primus Subsidiary
The latest sale further strengthens Fusion Connect's financial position, with the sale's proceeds being utilized to pay down debt.
FREMONT, CA: Fusion Connect, a trusted partner for allowing the connected enterprise, announces today the sale of its wholly-owned Primus subsidiary in Canada to Distributel, a Canadian independent communications provider offering an extensive range of business, wholesale, and residential communications services. The transaction illustrated an all-cash, tax-free transaction and was effective on January 15, 2021.
The Primus business will be combined with Distributel and will merge two highly compatible firms. The Distributel product portfolio's depth will bring immediate value to the existing base of Primus customers and will strengthen existing distribution channels. The transaction will position the post-merger entity as one of the biggest competitive telecommunications providers in Canada.
This transaction further stresses the Fusion Connect team's strategic goal of enabling mid-market and enterprises in the U.S. with cloud communication, collaboration, security, and network management platforms that improve their competitive position. The company is thrilled that the Primus team is merging with a dynamic organization like Distributel, which will continue to fuel Canada's business.
This is a very exciting event for both firms, the employees, and our customers. The greatest assets have always been our people, and by combining forces that have just made a huge increase in that asset's quality. As the only Canadian telecommunications firm to obtain the coveted Great Place to Work certification earlier this year, the companies have a strong commitment to the employees. The companies welcome the Primus team to the family.
Fusion Connect manages, orchestrates, and secures the vital technology that allows the connected enterprise. The company tailors the highly available and secure cloud communication, collaboration, security, and network management platforms to meet the mid-market and enterprise customers' needs. The AI-based management systems, along with our highly skilled technicians, dynamically ensure world-class application performance under any conditions.