10. Fusion Connect Sells Canada Business To Distributel
Fusion Connect, a provider of business communications, networking, and hosted collaboration solutions, in January offloaded its Canadian subsidiary, called Primus, for an undisclosed sum.
Distributel, a Canadian telecommunications company headquartered in Toronto, became the new owner of Primus in an all-cash, tax free transaction. The transaction is positioning the new entity as one of the largest competitive telecommunications providers in Canada. Meanwhile, Fusion Connect is able to focus on its core business in the U.S., providing midmarket and enterprise companies with cloud communication, collaboration, security, and network management platforms, the companies said.
The proceeds of the sale, which closed on Jan. 15, are being used to pay down debt, according to Atlanta-based Fusion.