We believe that managed hosting services have become a vital component of the IT strategy for mid-tier companies and enterprises alike, and that Fusepoint's excellent financial results reflect both a strong market demand that will continue to grow and the applied expertise and experience of its seasoned management team
(PRWEB) January 22, 2008
Fusepoint Managed Services, the leading provider of outsourced managed IT and infrastructure services to the mid market in Canada, today announced record financial results for the 2007 fiscal year. Fusepoint ended the year with over $36 million in revenue and experienced its highest level of newly contracted sales in its history, increasing 50% over 2006. The company, which has been EBITDA positive since mid 2005, also experienced record EBITDA in 2007, and achieved Net Income positive in the latter half of the year.
Fusepoint has continued to experience a dramatic increase in demand for its solutions in 2007, adding over 50 new, managed and colocation customers such as The Canadian Football League, Bell Canada's Videoplay, InsurancePay Canada, DeepCove Labs, and Chip Hospitality. In addition, the company signed several significant renewal contracts with existing customers such as Mountain Equipment Coop, Colliers, Direct Energy, Qtrade Financial Group and the Royal Canadian Mint.
"Fusepoint has realized a tremendous year both from a financial and operations perspective," said George Kerns, President and CEO of Fusepoint. "We have continued to reinvest in the infrastructure and operations side of the business, ultimately solidifying our leadership position to meet the strong demand for high-availability managed hosting services."
Today's news comes on the heels of announcing significant investments in Opsware data centre automation software; achieving Tier-1 (the highest level) Payment Card Industry Certification from Visa; and adding support for VMware virtualization software to its services portfolio. In addition, Fusepoint has once again successfully completed its annual CICA 5970 and SAS 70 Type II audits from external parties to ensure its rigorous processes are tested and certified.
Having recently expanded its Vancouver data centre to accommodate new business opportunities, Fusepoint will be expanding the Vancouver data center again in 2008. In addition, the company is working on expansion plans for Montreal and Toronto and hopes to make announcements about both in the first quarter of 2008.
"We believe that managed hosting services have become a vital component of the IT strategy for mid-tier companies and enterprises alike, and that Fusepoint's excellent financial results reflect both a strong market demand that will continue to grow and the applied expertise and experience of its seasoned management team," said John Van Hooser, General Partner at M/C Venture Partners.
About M/C Venture Partners
M/C Venture Partners is a venture capital firm focused exclusively on the communications, media, and information technology sectors. The firm has invested over $1.8 billion into nearly 80 companies in those sectors. Companies the firm has backed include MetroPCS, Fusepoint Managed Services, TeleCorp PCS, Triad Cellular, Crowley Cellular, and Brooks Fiber. The firm has strong institutional backing from the nation's leading pension funds and endowments as well as a long track record of success. M/C Venture Partners has offices in Boston and San Francisco. For more information visit http://www.mcventurepartners.com
About Fusepoint Managed Services
Founded in 1999, Fusepoint is a privately held company with offices and data centres in Vancouver, Toronto, Montreal and Quebec City. Through our proven record of success we have built a loyal base of over 400 customers and strong, strategic relationships with Canada's leading technology and communication companies.
Fusepoint's managed IT solutions are SLA-guaranteed, scalable and designed to reduce cost structures while mitigating risk. Fusepoint is also SAS 70 Type II, CICA 5970, and most recently PCI compliant, which means our processes are rigorously and continuously audited by an accredited third party and consistently operate at the highest levels within the industry. For more information, visit http://www.fusepoint.com
Jill Yetman / Laura Watton
416.969.2722 / 416.969.2766
Fusepoint Managed Services