 |
June 2010
has signed a definitive agreement to be acquired by
The undersigned acted as financial advisor to Fusepoint Managed Services, Inc. in connection with this transaction.
|
|
Fusepoint Managed Services, Inc.
Signal Hill Capital Group LLC served as exclusive financial advisor in connection with the pending sale of Fusepoint Managed Services, Inc., “Fusepoint”, a portfolio company of M/C Venture Partners, to Savvis, Inc. (Nasdaq:SVVS), a global leader in cloud infrastructure and hosted IT solutions for enterprises. Fusepoint is a leading independent provider of managed IT and colocation services to enterprises in Canada.
Under the agreement, announced June 1, 2010, Savvis will acquire Fusepoint for $124.5 million in cash, subject to a working capital adjustment. For the first quarter of 2010, Fusepoint's annualized revenue was $47.4 million. Adjusted EBITDA for the first quarter was $3.0 million, or $12.0 million on an annualized basis.
Fusepoint operates three data centers in Toronto, Vancouver and Montreal, giving the company a national footprint. Fusepoint is well-positioned in the Canadian hosting market, which is still in its early stages of growth. The company has more than 330 marquee customers.
|
