FISION and Continuity Logic Announce Entry into Merger Agreement, Creating a First of its Kind Cloud Platform for Critical Business Processes, from Digital Asset Management and Agile Marketing, to Business Continuity and Risk Management
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FISION and Continuity Logic Announce Entry into Merger Agreement (Graphic: Business Wire)
The terms call for a merger transaction, pursuant to which Continuity Logic will merge into a wholly owned subsidiary of FISION, thereby becoming a wholly owned subsidiary of FISION, with the equity holders of Continuity Logic receiving shares of FISION common stock in exchange for their membership interest units in Continuity Logic.
In addition to completion of due diligence by each of FISION and Continuity Logic of the other party and customary closing conditions, the merger is conditioned upon the completion of a private equity offering to provide growth capital. The merger is expected to close before the end of the third quarter.
“There is only one thing better for our customers than having a powerful, cloud-based platform like FISION, and that is having two,” stated
Added Brown: “The terms of the merger have been unanimously approved by the boards of directors of both companies. We could not be more excited to leverage the synergies of our combined organizations and together accelerate our growth.”
Further details are available in the Form 8-K FISION has filed with the
Management and Organization
Concurrent with the merger becoming effective, FISION’s board of directors will be composed of five directors. The directors will include
About Continuity Logic
Continuity Logic was founded in 2006 by seasoned technology professionals and is the world’s first adaptive, zero-code integrated risk management application development platform. Through the implementation of Continuity Logic, organizations can build highly configurable integrated risk applications that uniquely connect people, business process, technology, vendors, facilities, organization structure, and operational and regulatory data in weeks rather than incompletely over months and years.
Continuity Logic dramatically reduces the cost and time to deploy and change risk, business continuity, disaster recovery and compliance (Integrated Risk) programs and delivers new, strategic information in real-time to organizational leaders and front-line workers so that each can make better decisions.
About
Founded in 2011,
For additional information, call 1-866-378-2506 or visit www.fisiononline.com
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Notice Regarding Forward-Looking Statements:
This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," "anticipate," "estimate," "expect," "intend," and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the company's public filings. The occurrence of any of these risks and uncertainties could have a material adverse effect on the company’s business, financial condition, and results of operations. Forward-looking statements include, but are not limited to, statements about the plans, objectives, expectations and intentions of FISION and its subsidiaries. These statements are based on the current expectations and beliefs of FISION and FISION's Management and may be subject to uncertainty and changes in circumstances. FISION and FISION's Management caution readers that any forward-looking information is not a guarantee of future performance and that actual results may vary materially from those expressed or implied by the statements herein, or by changes in economic, business, competitive, technological, strategic and/or regulatory factors. FISION and FISION's Management are under no obligation to, and expressly disclaim any obligation to update or alter these forward-looking statements, whether as a result of new information, future events, or otherwise.
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