Fusion Completes Acquisition of TFB
Moves Leading Enterprise Contact Center Provider's Solutions to the Cloud and Expands Offerings in Fast-Growing Contact Center Market
NEW YORK, NY -- (Marketwired) -- 04/04/16 -- Fusion (NASDAQ: FSNN), a leading provider of cloud services, announced today that it has completed the acquisition of the intellectual property and assets of Technology for Business Corporation (TFB), a provider of industry leading Contact Center solutions. The acquisition immediately moves Fusion into a leadership position within the $4.7 billion Contact Center market, and provides substantial cross-selling and up-selling opportunities as TFB's Fortune 500 enterprise customers, government entities and healthcare organizations are migrated to Fusion's cloud solutions platform.
"Contact Center sales are forecasted to grow to a projected $14.7 billion by 2020, and there is increasing demand in the Contact Center market for migration to the cloud. This acquisition expands our reach into the enterprise and mid-market, at the same time providing a secure path for businesses seeking to move to the cloud," Matthew Rosen, Fusion's Chief Executive Officer, said. "With the acquisition of TFB, we believe that Fusion is now the only cloud services provider delivering a powerful all-in-one enterprise solution that integrates enhanced Contact Center features with cloud-based voice and UC, connectivity to the cloud, and a comprehensive suite of cloud solutions that includes security, managed network services and cloud computing," Mr. Rosen continued.
The TFB Contact Center software application was created in an open source development environment that facilitates systems integration and enables a powerful reporting capability that will allow Fusion to deliver comprehensive business analytics. The TFB solution helps enterprises improve the customer experience with advanced Contact Center features supporting fully integrated applications, data and CRM integration, and comprehensive user-controlled administrative and reporting tools. The solution has been customized to meet the compliance requirements and rigorous demands of key verticals such as healthcare. Fusion and TFB have been collaborating for some time on an advanced, integrated cloud Contact Center solution that is expected to launch before the end of April. The solution will support the migration of TFB's premise-based, enterprise customers to the cloud and empower Fusion's mid-market and enterprise Contact Center customers and prospects with leading edge features, functionality and reporting capability.
"TFB was intent on partnering with an agile, forward-thinking cloud solutions provider to help take our leading edge enterprise Contact Center solutions to the cloud. We found the perfect partner in Fusion. Fusion's advanced cloud services platform, robust infrastructure, and secure, redundant national network deliver a clear migration path for TFB's blue chip customers who are increasingly ready to enjoy the cloud's many service and cost advantages. We're eager to grow, and Fusion's large and expanding customer base and nationwide distribution network offer significant opportunities for us to upsell our integrated Contact Center solutions," Charles Cuggino, TFB's CEO, said.