Appleton, Wisconsin-based voice-over-IP services firm ClearlyIP has acquired the telecom assets of Telrad Technology Group for an undisclosed amount.
This is M&A deal 299 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
Telrad is based in Vancouver, British Columbia, Canada. The company has remained a privately owned family business for nearly 40 years, providing premium Premise and Cloud-based Voice over IP (VoIP) phone services.
As a result of the acquisition, ClearlyIP will continue to support and maintain Telrad’s cloud and voice business solutions, the company said.
ClearlyIP says it will also acquire the entire Telrad team and add an office location in Vancouver. ClearlyIP will use the acquisition to bolster its cloud services business, according to the company.
ClearlyIP’s Growth Strategy
According to Tony Lewis, ClearlyIP’s CEO, the Telrad transaction is part of an overall expansion strategy. This “Build and Buy” strategy includes new product development alongside targeted acquisitions. These deals will expand and scale the resources that the firm is able to provide to its customers, according to Lewis.
Lewis continued:
“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.”
Telrad President and CEO Breanna Fernie will join the ClearlyIP Executive Team as chief marketing officer. Fernie said:
“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.”
In the ensuing months, ClearlyIP will integrate Telrad’s network and billing systems. Existing Telrad customers will continue to receive the same services, and all agreements, points of contact, and billings will continue uninterrupted, the company affirmed.
