FISION Corporation, a sales enablement platform, has announced that it has entered into a definitive merger agreement under which it will combine with integrated business continuity and risk management software provider Continuity Logic.
The terms call for a merger transaction, pursuant to which Continuity Logic will merge into a wholly owned subsidiary of FISION, thereby becoming a wholly owned subsidiary of FISION, with the equity holders of Continuity Logic receiving shares of FISION common stock in exchange for their membership interest units in Continuity Logic.
In addition to completion of due diligence by each of FISION and Continuity Logic of the other party and customary closing conditions, the merger is conditioned upon the completion of a private equity offering to provide growth capital. The merger is expected to close before the end of the third quarter.
“There is only one thing better for our customers than having a powerful, cloud-based platform like FISION, and that is having two,” stated Mike Brown, founder, president and CEO of FISION. “Continuity Logic has been recognized four times in the Gartner magic quadrant for best-in-class business continuity technology. The two companies have similar technology stacks; however, our offerings are highly-complimentary and synergistic, with zero overlap in terms of our Fortune 500 client base. We see tremendous cross sell opportunities, with all-star rollup of talent, experience and technical know-how.”
Tejas Katwala, CEO and co-founder of Continuity Logic, commented, “FISION has a stellar reputation for its ability to innovate and deliver first class solutions, along with strong customer service and outstanding personnel. Together, we can accelerate the growth of our combined organizations and deliver a broader and deeper portfolio of solutions. This includes rapid deployment, a strong user implementation and configuration tool set, rich content management, deep business process management tools, and data management and analytics solutions that are optimized to enhance client value across the enterprise.”
Added Brown: “The terms of the merger have been unanimously approved by the boards of directors of both companies. We could not be more excited to leverage the synergies of our combined organizations and together accelerate our growth.”
Further details are available in the Form 8-K FISION has filed with the U.S. Securities and Exchange Commission, and which is available in the investor section on the company’s website.
Read the full announcement.
Learn more at FISION and Continuity Logic.
