Lingo Management LLC, a global business cloud communications and managed services provider based in Atlanta, and BullsEye Telecom Inc., a single-source, cloud communications and technology service provider based in Southfield, Michigan, jointly announced they have entered into a definitive agreement under which Lingo will acquire 100 percent of the stock of BullsEye.
The acquisition will 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 Canada, the United States 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 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.
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.”
BullsEye President & Ceo Tom Tisko 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.”
The BullsEye transaction is the latest in a history of acquisitions that Lingo, or its predecessor companies, have announced in recent years. The transaction has been approved unanimously 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.
