Tampa, FL: FISION and (Tampa’s) Continuity Logic Announce Entry into Merger Agreement
MINNEAPOLIS--(BUSINESS WIRE)--FISION Corporation (OTCQB: FSSN), a leading sales enablement platform, today announced that it has entered into a definitive merger agreement under which it will combine with Continuity Logic, L.L.C., a leading provider of integrated business continuity and risk management software.
The terms call for a merger transaction, pursuant to which Continuity Logic will merge into a wholly owned subsidiary of FISION, thereby becoming a wholly owned subsidiary of FISION, with the equity holders of Continuity Logic receiving shares of FISION common stock in exchange for their membership interest units in Continuity Logic.
In addition to completion of due diligence by each of FISION and Continuity Logic of the other party and customary closing conditions, the merger is conditioned upon the completion of a private equity offering to provide growth capital. The merger is expected to close before the end of the third quarter.
“There is only one thing better for our customers than having a powerful, cloud-based platform like FISION, and that is having two,” stated Mike Brown, founder, president and CEO of FISION. “Continuity Logic has been recognized four times in the Gartner magic quadrant for best-in-class business continuity technology. The two companies have similar technology stacks; however, our offerings are highly-complimentary and synergistic, with zero overlap in terms of our Fortune 500 client base. We see tremendous cross sell opportunities, with all-star rollup of talent, experience and technical know-how.”