ATLANTA, March 29, 2022 (GLOBE NEWSWIRE) -- Lingo Management, LLC ("Lingo"), a leading global business cloud communications and managed services provider based in Atlanta, GA, and BullsEye Telecom, Inc ("BullsEye"), a leading single-source, cloud communications and technology service provider based in Southfield, MI, jointly announced today that they have entered into a definitive agreement under which Lingo will acquire 100% of the stock of BullsEye.
The acquisition will further empower Lingo to advance its strategy as one of the largest single-source providers of cloud communications and managed services for business and carrier customers:
- Creates global cloud communication and managed technology service provider with approximately $250 million in annual revenue and approximately 150,000 customers located in the U.S., Canada and around the globe.
- Complements the current Lingo business by adding a significant amount of multi-location enterprise, SMB, and carrier customers.
- Serves customers at every stage of their lifecycle - from consumers to small- and medium-sized business customers, to large enterprises requiring a national solution across multiple offices, and finally to carrier customers requiring wholesale services.
- Creates a North American network operator offering cloud communications, fiber broadband, internet connectivity, SD-WAN, POTS, and POTS replacement, security, managed Wi-Fi, and carrier services.
"This acquisition marks another major milestone in Lingo's journey as leading cloud communication and managed services provider to business and carrier customers of all sizes. Customers today demand end-to-end communications solutions that are efficient and innovative. Lingo is uniquely positioned to provide these services and can now do so with increased scale and resources," said Vincent M. Oddo, President and CEO of Lingo.
Mr. Oddo continued, "This combination will elevate Lingo into the top tier of cloud communications and managed service providers. The combined company will operate a large North American network that delivers a wide array of communications services and processes over eighteen billion minutes of customer voice traffic annually. In addition, providing award-winning customer care will continue to be a top priority as we move forward."
Tom Tisko, President and CEO of BullsEye, said, "After a thorough strategic review process in which we evaluated a wide range of alternatives, the BullsEye board of directors determined that this transaction enhances our competitive ability to provide a comprehensive suite of business communication services to a diverse client base. This transaction with Lingo enables the combined companies to increase service levels with a broad array of products to a larger number of customers."
"We look forward to welcoming the BullsEye customers, partners and employees into the Lingo family in the very near future," said Bill Morris, Chief Financial Officer of Lingo. "Having successfully completed many acquisitions in the past, we are confident in our ability to execute a fast and seamless integration. We have already started on our integration planning and, as in prior transactions, we expect to begin implementation of those plans immediately after closing."
"We also look forward to integrating the BullsEye sales organizations including management, representatives, sales partners, suppliers and support staff into the Lingo sales family," said Christopher Ramsey, VP Sales and Marketing at Lingo. "We are committed to making this a smooth and productive transition for all divisions."
The BullsEye transaction is the latest in a long history of acquisitions that Lingo, or its predecessor companies, have announced in recent years. "The additional revenue scale, customer density, network reach, and product offerings will allow us to comprehensively meet the evolving, long-term needs of our business and carrier customers," said Mr. Oddo. "We're making this investment to serve our customers in the best way possible for many years to come."
The transaction has been unanimously approved by the boards of directors of both companies. The transaction is expected to close within three to four months, subject to customary conditions, including necessary approvals from federal and state regulators.
King & Spalding LLP is acting as legal advisor, B. Riley Advisory Services is acting as financial advisor and Cahill, Gordon & Reindel LLP is acting as regulatory advisor to Lingo in the transaction.
The Bank Street Group LLC is acting as financial advisor, Dykema Gossett PLLC is acting as legal advisor and Klein Law Group PLLC is acting as regulatory counsel to BullsEye in the transaction.
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About Lingo
Lingo is a leading global Cloud/UC and managed service provider to the Business, Carrier, and Consumer markets. Lingo provides modern, efficient, IP-based voice, data, and managed services to customers around the globe. Lingo has an expansive IP-based network, experienced leadership, and support staff with exceptional 24/7/365 customer care. For additional information about Lingo, please visit lingo.com.
Press Contact
Chris Ramsey
VP Sales & Marketing
chris.ramsey@lingo.com
About BullsEye
BullsEye is an award-winning, single-source, communications and cloud technology provider serving thousands of businesses ranging from one location companies to multi-location enterprises. Our team of tenured, industry experts deliver a robust portfolio to include SD-WAN, Security, UCaaS, Internet Connectivity, Managed Wi-Fi, POTS, and POTS Alternative solutions that are simple, secure, cost-effective and billed on ONE single invoice. Follow us on Facebook, LinkedIn and Twitter.
Press Contact
Gina Kennedy-Toney
VP Marketing and Communications
gtoney@bullseyetelecom.com
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Image 1: Lingo to acquire Bullseye Telecom
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