|[August 09, 2018]
FISION and Continuity Logic Announce Entry into Merger Agreement, Creating a First of its Kind Cloud Platform for Critical Business Processes, from Digital Asset Management and Agile Marketing, to Business Continuity and Risk Management
Corporation (OTCQB: FSSN),
a leading sales enablement platform, today announced that it has entered
into a definitive merger agreement under which it will combine with
Continuity Logic, L.L.C., a leading provider of integrated business
continuity and risk management software.
This press release features multimedia. View the full release here:
FISION and Continuity Logic Announce Entry into Merger Agreement (Graphic: Business Wire)
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 (News - Alert) 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."
Frther 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.
Management and Organization
Concurrent with the merger becoming effective, FISION's board of
directors will be composed of five directors. The directors will include
Michael Brown (News - Alert), president and CEO of FISION, and John Bode, a FISION
independent director. In addition to Messrs. Brown and Bode, Peter
Christensen and Tejas Katwala, directors of Continuity Logic, as well as
Laurence Mascera, President and COO of Continuity Logic, will be
appointed to FISION's board of directors, with Christensen becoming
chairman of the board of directors.
About Continuity Logic
Continuity Logic was founded in 2006 by seasoned technology
professionals and is the world's first adaptive, zero-code integrated
risk management application development platform. Through the
implementation of Continuity Logic, organizations can build highly
configurable integrated risk applications that uniquely connect people,
business process, technology, vendors, facilities, organization
structure, and operational and regulatory data in weeks rather than
incompletely over months and years.
Continuity Logic dramatically reduces the cost and time to deploy and
change risk, business continuity, disaster recovery and compliance
(Integrated Risk) programs and delivers new, strategic information in
real-time to organizational leaders and front-line workers so that each
can make better decisions.
About FISION Corp.
Founded in 2011, Minneapolis-based FISION is the nation's leading
provider of agile marketing software that simplifies collaboration
across global organizations, and more effectively manages brand and
marketing content. FISION allows marketing and sales teams to work
better together by enabling them to more quickly and easily create,
distribute and measure the performance of compelling, localized,
on-brand communications. FISION's patented technology brings unrivaled
capabilities to clients across more than 20 countries, which includes
some of the world's largest corporations in healthcare, hospitality,
financial/insurance, software, and technology.
Volerro Corporation, a wholly owned subsidiary of FISION, provides a
SaaS (News - Alert) platform that simplifies how enterprise teams create, refine and
distribute content. By streamlining content production and team
coordination, its cloud-based collaboration service eliminates "content
chaos" among product, brand, marketing, and creative teams. Volerro's
ReVu.Me cloud app allows team members to work on the same document in
real-time with integrated chat and voice conferencing. For more
information, visit www.volerro.com.
For additional information, call 1-866-378-2506 or visit www.fisiononline.com
To receive future press releases via email, sign up at www.fisiononline.com/ir/email-alerts
Follow FISION on Twitter (News - Alert) @fisiononline or
For answers to frequently asked questions, see visit FISION's FAQ page: www.fisiononline.com/ir/faq/
Notice Regarding Forward-Looking Statements:
This press release may contain forward-looking statements made pursuant
to the Private Securities Litigation Reform Act of 1995. Words such as
"may," "will," "should," "plans," "explores," "expects," "anticipates,"
"continue," "estimate," "project," "intend," "anticipate," "estimate,"
"expect," "intend," and "project" and other similar words and
expressions are intended to signify forward-looking statements.
Forward-looking statements are not guarantees of future results and
conditions but rather are subject to various risks and uncertainties.
Some of these risks and uncertainties are identified in the company's
public filings. The occurrence of any of these risks and uncertainties
could have a material adverse effect on the company's business,
financial condition, and results of operations. Forward-looking
statements include, but are not limited to, statements about the plans,
objectives, expectations and intentions of FISION and its subsidiaries.
These statements are based on the current expectations and beliefs of
FISION and FISION's Management and may be subject to uncertainty and
changes in circumstances. FISION and FISION's Management caution readers
that any forward-looking information is not a guarantee of future
performance and that actual results may vary materially from those
expressed or implied by the statements herein, or by changes in
economic, business, competitive, technological, strategic and/or
regulatory factors. FISION and FISION's Management are under no
obligation to, and expressly disclaim any obligation to update or alter
these forward-looking statements, whether as a result of new
information, future events, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180809005204/en/
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