Stage 2 Networks, a cloud communications leader in the New York metropolitan area with a portfolio of hosted voice and data services, announced that it has acquired the hosted VoIP business division of Consolidated Technologies (CTI). The acquisition allows for both companies to focus on their core areas of strength with Stage 2 Networks expanding its hosted VoIP enterprise and CTI strengthening its system integration business.
“We are excited to announce a deal that furthers our mission to become New York’s leading cloud communications provider. This is a perfect opportunity for both companies to grow our organizations and concentrate on our primary services,” said Joseph P. Gillette, CEO of Stage 2 Networks and a founding member of the Cloud Communications Alliance. “By acquiring the hosted VoIP division of CTI, we have expanded our market-leading footprint while becoming stronger as a company, both operationally and financially.”
“CTI has enjoyed significant growth in the enterprise communications market and we are putting considerable investment into our market leading practice of implementing Avaya solutions for these large customers,” said David Blau, founding Partner and Chief Strategy Officer of Consolidated Technologies, Inc. “Our Avaya partnership is growing so quickly that it made sense for us to exit the hosted VoIP space and renew our focus on this accelerated business expansion. An added bonus to this transaction is that we will continue to partner with Stage 2, as we still have many customers and prospects that will benefit from hosted services.”
As the premier Broadsoft hosted carrier in the New York metropolitan area and experts in business voice and data solutions, Stage 2 Networks’ newly acquired customers will have additional service options that can be integrated or added to their current hosted solutions. In addition, Stage 2 provides live customer support 24 hours per day, 7 days a week.
“I’ve personally known the CTI principals as well as many of their employees since inception of their business, and I know what a high quality operation they run. Their customers can rest assured that they are in great hands with Stage 2.” added Mr. Gillette.
Q Advisors, a Denver and San Francisco-based investment banking boutique, acted as the exclusive financial advisor to Stage 2 in connection with this transaction.
For more information visit www.stage2networks.com.
Posted by Janine E. Mooney, Editor
December 29, 2011