Uniserve Announces Strategic Acquisition to Expand Ontario Managed IT Services

Uniserve Communications Corporation has entered into a letter of intent to acquire an Ontario-based managed service provider, marking a strategic expansion of its operations in the province. The transaction, valued at CAD $1,300,000, is expected to bring approximately $2.1 million in top-line sales and $600,000 in expected EBITDA to the company while adding critically skilled talent to the organization.

Kwin Grauer, Interim CEO of Uniserve, stated that the acquisition will enhance the depth of services delivered by the company and support the growth of its recurring revenue-based service offerings. ‘As Canadian businesses continue their digital transformations, we are working to build our future-ready digital infrastructure to help these businesses navigate this challenging landscape,’ Grauer said in the announcement.

The purchase price will be paid through a combination of $1,000,000 in cash and a $300,000 convertible note. The note will be convertible into common shares of the company at varying prices over three years, with interest accruing at 7% per annum. The company emphasized that it will not assume any long-term debt from the acquired MSP, and no finder’s fees will be paid in connection with the transaction.

The transaction is subject to several conditions, including the execution of a definitive agreement within 30 days, completion of due diligence, final approval from Uniserve’s Board of Directors, and approval from the TSX Venture Exchange. The MSP and its shareholders are arm’s length to Uniserve, and the transaction will not result in a change of control for the company.

This acquisition represents a significant step in Uniserve’s strategy to consolidate its service offerings in Ontario and build a comprehensive national digital infrastructure platform. The MSP being acquired offers a full stack of services including security, value-added reseller services, and traditional managed IT services, complementing Uniserve’s existing portfolio of managed IT, ISP, cloud, and data centre services.

For additional information about Uniserve, investors can visit www.uniserve.com or access regulatory filings at www.sedarplus.ca. The original news release is available on www.newmediawire.com.

This news story relied on content distributed by NewMediaWire. Blockchain Registration, Verification & Enhancement provided by NewsRamp. The source URL for this press release is Uniserve Announces Strategic Acquisition to Expand Ontario Managed IT Services.

The post Uniserve Announces Strategic Acquisition to Expand Ontario Managed IT Services appeared first on citybuzz.