ntegrated Broadband Services (IBBS), the leading provider of triple play software and services to broadband network operators, announced today that it has entered an agreement to acquire Parasun Technologies, Inc. from Uniserve Communications Corporation (CDNX: USS.V).
Parasun’s headquarters in Vancouver will become the Integrated Broadband Services’ Canadian headquarters and western regional office. Parasun executives Paul Needham and Michael Schmidt will join the IBBS executive team and Parasun employees and operations will be integrated into IBBS.
IBBS will continue in its daily mission to deliver unmatched triple-play broadband software and services for a combined customer base of over 200 network operators serving over 750,000 end-subscribers across North America, Latin America and the Caribbean. IBBS and Parasun both operate under a software as a service (SaaS) recurring revenue business model.
IBBS Chief Executive Officer David Keil said, “We will bring an expanded base of employee talent, resources and critical mass to improve service for our customers and accelerate the development of new capabilities, partnerships, and services.”
The closing of the transaction, which is expected to occur by September 30, 2008, subject to a possible extension up to October 31, 2008, is subject to customary closing conditions, including third party consents. Upon close, Parasun Technologies, Inc. will become a wholly-owned operating subsidiary of Integrated Broadband Services. IBBS will begin integration of the companies in Q4 2008.
Parasun Technologies President Steven MacDonald remarked, “After ten years building Parasun with a group of outstanding employees and customers, I’m confident joining forces with IBBS will help us continue to meet our mission of building better broadband. The new IBBS will accelerate delivery of combined capabilities including voice diagnostics, enterprise system integration, network optimization and churn reduction.”
IBBS was recently ranked by inc. magazine as 46th among the 100 fastest-growing private telecommunication companies in America. A 236% revenue growth rate over three years landed IBBS, a leader in diagnostics and provisioning software, on the list. IBBS is backed by its majority owner Wachovia Capital Partners.
Keil concluded, “This acquisition positions us well not only to better serve our combined current customer base, but also to expedite global sales growth plans from a strengthened competitive position.”
Integrated Broadband Services
Director of Marketing
The McDonnell Group, Inc.
Intergrated Broadband Services (IBBS) provides fully-integrated data, voice and support services to simplify the delivery of communications for cable providers and their residential and commercial customers. IBBS operates at the intersection of technology and people. The company’s technology and approach to service provide an unmatched customer experience and measureable ROI for the companies it serves. Cable operators leverage IBBS’ award-winning proprietary BBX operational support system to launch services and seize marketplace opportunities while relying on the company’s Tier I NOC, engineering team, and world-class call center to drive profitability and delight customers. For its fresh thinking and market vision, IBBS was named a Top 50 American Telecommunications Firm by Inc. Magazine in 2008 and one of Georgia’s ‘Fast 40’ Growing Companies in 2010. Learn more about IBBS and its service portfolio at www.IBBS.com.
Parasun Technologies, a wholly owned subsidiary of Uniserve Communications Corporation (CDNX: USS.V), provides industry-leading Broadband provisioning and management and support solutions for small and mid-tier network operators. Hundreds of communities across North America have successfully deployed Parasun's data support solutions, which include OSS software that integrates with the leading third party billing providers, Hosted ISP services, VoIP Solutions, 24/7 Help Desk and Network Operations services, and Trusted Third Party services for CALEA compliance.