Martello Updates and Extends Agreement with Mitel
Longstanding partnership grows with expanded coverage of key Mitel platforms
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OTTAWA, Jan. 16, 2019 /CNW/ - Martello Technologies Group Inc. (TSXV: MTLO), ("Martello" or the "Company"), a leading provider of network performance management solutions for real-time communications, announced today that it has concluded an amendment to its commercial agreement with Mitel Networks, a key global partner. Updating an agreement signed in April 2016, the terms of this amendment are expected to be favourable to Martello's revenues, and include expanding the coverage of Martello's software to additional Mitel communications platforms and extending the renewal term. Martello's software is included in Mitel Premium Software Assurance offering in two tiers, Mitel Performance Analytics (MPA) and Mitel Performance Analytics Plus (MPA Plus). This agreement covers the use and resale of MPA software in both tiers.
Under the terms of the amended agreement, Martello will develop support in its software for the MiVoice Connect enterprise call platform, as well as the MiVoice 5000 communications and collaboration solution and the MiVoice Office 400. The amendment also extends the renewal term of the agreement to two years with automatic two year renewals.
"As businesses move to the cloud, there is a growing need for proactive identification and prevention of voice and network quality issues," said John Proctor, President and CEO of Martello Technologies. "We're pleased to work with Mitel to deliver solutions that help a growing segment of Mitel's customers globally, continuing the strong, long-standing partnership between our companies."
In 2018, following the completion of an oversubscribed $7.5 million private placement, Martello debuted as a public company on the TSX Venture Exchange. This helps the company to continue and accelerate its strategic acquisition strategy that commenced in 2014. On November 2, 2018, the company announced the completion of its acquisition of Savision. This follows the acquisitions of SD-WAN player Elfiq Networks in December 2017 and Netvitesse in 2014. The Company's solutions have been widely acclaimed in the industry. In September, Martello received a Frost & Sullivan Leadership Award for NPM (Network Performance Management) and ranked as Ottawa's Fastest Growing Company, at No. 28 on the Growth 500 list of Canada's Fastest Growing Companies.
About Martello Technologies Group
Martello Technologies Group Inc. (TSXV: MTLO) delivers confidence in network performance. Our solutions manage and optimize the performance of real-time services on cloud and enterprise networks and include network and IT performance management software as well as SD-WAN technology. Over the top (OTT) service providers and enterprises around the world rely on Martello's technology to deliver better service quality and a reliable user experience. Designed for real-time communications such as voice and video, Martello's solutions detect, identify and address network performance problems BEFORE service quality is impacted. Martello Technologies Group is a public company headquartered in Ottawa, Canada with offices in Montreal, Amsterdam, Paris, Dallas and New York. Learn more at http://www.martellotech.com
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Corporation's control. These factors include: general market and industry conditions, risks related to continuous operations and to commercialization of new technologies and other risks disclosed in the Corporation's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Corporation's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Martello Technologies Group
Tracy King, VP Marketing, [email protected], 613.271.5989 x 2112; John Proctor, President & CEO, [email protected], 613.271.5989 x 2135
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