Stage 2 Networks Acquires VOIP Division of Consolidated Technologies
Stage 2 Networks, a cloud communications leader in the New York metropolitan area with a portfolio of hosted voice and data services, is buying the hosted voice over IP business division of Consolidated Technologies, a converged technologies company and Avaya gold partner. 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, the companies explained in a joint statement.
As a Broadsoft hosted carrier in the New York metropolitan area and specialists 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 24/7. Q Advisors, a Denver and San Francisco-based investment banking boutique, acted as the exclusive financial adviser to Stage 2 in connection with this transaction.
"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," Joseph Gillette, CEO of Stage 2 Networks and a founding member of the Cloud Communications Alliance, said in a statement. "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."
Stage 2's network helps businesses to access a portfolio of communications services including hosted PBX and VOIP, cloud-based unified communications (UC), voice applications and network services for both voice and data. Stage 2 offers customized solutions to businesses that are desgined to receive streamlined communications with enhanced quality of service, while lowering their capital expenditures.
David Blau, founding partner and chief strategy officer of CTI, said the company has enjoyed significant growth in the enterprise communications market and they are putting considerable investment into their practice of implementing Avaya solutions for these large customers.
"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," he said in a statement. "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."