Fusion, a leading provider of cloud services, announced that it has acquired the software, intellectual property and customers of privately held IQMax, a pioneer in developing secure messaging, enterprise data integration and advanced cloud communications solutions.
Headquartered in Charlotte, N.C., IQMax has developed a cloud-based data integration engine that seamlessly integrates and transmits information across diverse applications and platforms. IQMax’s mobile-centric, secure messaging platform has been designed to meet the rigorous requirements of enterprises across multiple industry verticals demanding high levels of security, compliance and interoperability. Notably, IQMax’s integration engine has been deployed at major healthcare systems in the U.S. to support physician workflow by facilitating real-time communications, group messaging, and image and file sharing with full HIPAA compliance among healthcare professionals. Additionally, IQMax’s mobile software solutions improve workforce coordination and collaboration, from secure messaging to event notification management and integrated cloud voice services.
IQMax’s powerful data integration platform advances the expansion of Fusion’s cloud ecosystem, facilitating integration with a wide range of applications and business productivity software platforms. In combination with Fusion’s award-winning cloud services platform, IQ Max’s advanced data integration engine will accelerate Fusion’s leadership in the large and rapidly expanding global voice and messaging Communications Platform as a Service (CPaaS) market, which IDC expects to grow from $867 million in 2016 to $8.2 billion in 2021.
As reported in Ponemon’s “2017 Cost of Data Breach Study,” organizations face a nearly 28% average probability that they will suffer a material data breach in the next 24 months. IQMax’s secure messaging and data integration solutions meet the needs of those highly vulnerable organizations that must secure sensitive information transmitted through their internal and external communications. So great is the demand for secure messaging solutions such as IQMax, that the messaging security market is expected to grow from $2.64 billion in 2017 to $5.5 billion by 2022, with a CAGR of nearly 16% (Cision, “Messaging Security Markets by Solution”).
“The IQMax platform enables organizations to integrate enterprise data with secure communications across iOS, Android and Microsoft mobile operating systems,” said Paul Adkison, IQMax’s Founder. “Leveraging Fusion’s comprehensive single source cloud solutions and robust infrastructure, we are well positioned to be a leader in the industry with the next generation of highly differentiated, future-proof UCaaS solutions. Today’s winning corporate communications strategy demands secure communications, connectivity and collaboration, and we look forward to selling IQMax solutions into Fusion’s large and growing customer base, which will expand significantly with Fusion’s pending acquisition of Birch.”
“IQMax represents a unique opportunity for Fusion to acquire a leading secure messaging and enterprise data integration platform that integrates very tightly with our existing unified communications platform,” said Matthew Rosen, Fusion’s Chief Executive Officer.
“Over $20 million has been invested in IQMax’s cloud-based solutions software and services platform since 2001, and while the current revenue and EBITDA contribution is not material to Fusion, we believe that we have concluded a compelling transaction that will advance the company’s leadership position in the rapidly growing secure messaging space and accelerate our planned applications integration expansion,” Mr. Rosen continued. “The all-stock transaction includes additional time-limited royalties based on future sales of the software, providing a strong incentive to continue driving sales of the IQMax software solutions.
“IQMax’s leading edge technology platform, feature-rich solution set and expert team of development professionals will enhance our advanced cloud solutions platform and accelerate the expansion of Fusion’s cloud ecosystem, facilitating integration with a wide range of CRM platforms, external messaging, and other business productivity software platforms,” Mr. Rosen concluded.