Clearly IP continues its rapid growth with yet another acquisition. We broke the news on their launch from this Tony Lewis company in September of last year. As part of their launch they actually acquired all the assets of Cyclix Solutions LLC, a leading information technology and telecom services company with operations based in Gilford, New Hampshire. It is rare companies launch with an acquisition so the company differentiated itself at the start.
Then in December, we broke the news they purchased Modulis. Founded in 2006, they provided services to mid-sized and large enterprises with VoIP phone services. Specializing in providing reliable and redundant phone systems on a global scale with its multi-tenant, load-balanced, and failover-enabled CPaaS platform. Modulis services users throughout the United States, Canada, and European markets, offering support availability in both English and French languages.
They have now purchased all telecom assets of Vancouver based Telrad Technology Group LTD. Privately-held, Vancouver-based Telrad has decades of experience providing mid-sized and large enterprises with Premium Premise and cloud VoIP phone services. As a result of the acquisition, ClearlyIP will continue to support and maintain Telrad’s Cloud and voice business solutions.
ClearlyIP is also acquiring Telrad’s entire team, adding an office location in Vancouver, British Columbia, ensuring a seamless transition for customers and channel partners. The acquisition grows ClearlyIP’s cloud services business and allows ClearlyIP to focus resources on engineering innovative solutions backed with best in class customer service.
Tony Lewis, ClearlyIP’s CEO, said, “It has been a busy time here at ClearlyIP, and our team has been working hard to execute the company vision we set last year. We are delivering on our strategy to augment our organic growth with key, targeted acquisitions that further expand our scale and resources to serve our growing customer base. The acquisition of Telrad follows the prior acquisitions of Cyclix Networks and Modulis.ca Inc in late 2019. Collectively, these transactions have extended and strengthened our in-market presence across North America and provided additional technical and customer-facing resources that have allowed us to continue to see growth and momentum despite the industry impacts due to the current global pandemic.”
President and Chief Executive Officer of Telrad, Breanna Fernie, noted, “My family has owned and operated Telrad in Vancouver for close to 40 years. Speaking on behalf of my Family and Telrad employees, we have worked very hard to establish a legacy as a forward-looking organization dedicated to providing the latest technology to the customers we serve. As we look toward the future of business communications, we believe that ClearlyIP’s larger scale and unique combination of technological expertise and customer focus make them the best possible way to provide advanced telecommunications service to our customers while maintaining the personal touch that our customers value. We are excited that all of our employees will be part of the combined Company and will carry-on our rich tradition of being a customer-focused organization.” Breanna will be joining the ClearlyIP Executive Team as Chief Marketing Officer.
“This is a pivotal time for innovation. Companies can act on what they’ve learned about their digital challenges and aspirations and reimagine their businesses and products for a new future. Breanna and her talented team are well-known technology innovators, and we are thrilled to welcome them to ClearlyIP. We are confident this acquisition will bring greater value to our existing customers, partners, and new clients.” said Preston McNair, Chief Revenue Officer of ClearlyIP.
ClearlyIP will integrate the network and billing systems over the next few months to minimally impact customers while making the changes necessary to enhance service offerings significantly. Customers will receive notifications before any changes to their services. Existing Telrad customers will continue to receive the same services, and all agreements, points of contact, and billings will continue uninterrupted.
Nicolet National Bank of Neenah, WI, served as the exclusive financial advisor to Clearly IP Inc in connection with this transaction. Funding was provided by Nicolet, along with ClearlyIP cash reserves.
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