Quantum Announces Acquisition of Zebra Technologies To continue its hybrid growth strategy of both organic growth and acquisitions
NEW YORK, February 1, 2012 /PRNewswire/ --
Quantum Telecom Inc. d/b/a Forum Mobile (Nasdaq: QTMI), a global MVNE - provider of network and business support systems for MVNOs - announced today the signing of a definitive agreement to acquire a controlling stake in Zebra Technologies, a value added distributor of information security and networking brands operating in Israel, through its wholly owned subsidiary Forum Mobile Israel Ltd. With the acquisition, Quantum enhances its position in the telecommunication market and expands its comprehensive offerings.
According to the agreement, Forum Mobile Israel purchases 51% of the outstanding share capital of Zebra Technologies Ltd., in consideration of Quantum shares. Forum Mobile Israel has an option to purchase the additional 49% of the Zebra shares for the same amount.
Zebra, a profitable company with revenues of over US$16Million in 2011, brings to Forum Mobile its information security and networking domain expertise as well as its relationships with leading global software and equipment vendors. The cutting-edge solutions distributed by Zebra Technologies, such as Juniper, Trend Micro and VMware, complement Forum Mobile's offering. This synergy will allow Forum Mobile to provide a flexible, end-to-end solution that can address a telecom operator's needs, including the establishment of data centers.
"Operators are facing growing security issues in addition to their networking core requirements. As a result, they have made the implementation of information security products, such as those distributed by Zebra Technologies, a top priority," said Benny Yehezkel, Executive Vice President of Forum Mobile. "We are committed to offer the very best. As part of our long-term strategy, we are complementing our existing MVNE platform with Zebra Technologies' product line."
The acquisition strengthens Forum Mobile's offering, allowing it to provide end to end solutions to MVNOs and low tier MNOs globally.
"With this and additional acquisitions we are considering, Forum Mobile strengthens its balance sheet and financial stability," said Ami Segal, Forum Mobile's Chairman.
"We are proud of our success in building a winning brand offering that serves tier-one telecom operators and enterprises," said Eli Vudinsky, Zebra Technologies founder and CEO. "Zebra is delighted to become an integral part of Forum Mobile, a leading telecommunication solution player. By joining forces with Forum Mobile, we believe we are well positioned to provide the industry a leading offering."
About Forum Mobile (http://www.forum-mobile.com)
Quantum Telecom, Inc. d/b/a Forum Mobile is a global Mobile Virtual Network Enabler (MVNE) with international presence. Forum Mobile provides MVNOs with a turn-key solution portfolio and service needed for their operations, market position and business expansion - starting with infrastructure and IT through MNO agreements, applications and handsets.
Forward Looking Statement
This press release contains forward-looking statements concerning our marketing and operations plans. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. All forward-looking statements in this press release are made based on management's current expectations and estimates, which involve risks, uncertainties and other factors that could cause results to differ materially from those expressed in forward-looking statements. These statements involve a number of risks and uncertainties including, but not limited to, risks related to the Telecommunication and MVNO market, value added distribution market, our ability to successfully market and sell our products in America, Europe and other territories, general economic conditions and other risk factors. We do not undertake any obligation to update forward-looking statements made herein.
SOURCE Forum Mobile