NEW YORK, Dec. 27, 2011 (GLOBE NEWSWIRE) -- Stage 2 Networks, a cloud communications leader in the New York metropolitan area with a portfolio of hosted voice and data services, today announced that it has acquired the hosted VoIP business division of Consolidated Technologies, Inc. (CTI), a converged technologies company and Avaya gold partner. The acquisition allows for both companies to focus on their core areas of strength with Stage 2 Networks expanding its hosted VoIP enterprise and CTI strengthening its system integration business.
"We are excited to announce a deal that furthers our mission to become New York's leading cloud communications provider. This is a perfect opportunity for both companies to grow our organizations and concentrate on our primary services," said Joseph P. Gillette, CEO of Stage 2 Networks and a founding member of the Cloud Communications Alliance. "By acquiring the hosted VoIP division of CTI, we have expanded our market-leading footprint while becoming stronger as a company, both operationally and financially."
"CTI has enjoyed significant growth in the enterprise communications market and we are putting considerable investment into our market leading practice of implementing Avaya solutions for these large customers," said David Blau, founding Partner and Chief Strategy Officer of Consolidated Technologies, Inc. "Our Avaya partnership is growing so quickly that it made sense for us to exit the hosted VoIP space and renew our focus on this accelerated business expansion. An added bonus to this transaction is that we will continue to partner with Stage 2, as we still have many customers and prospects that will benefit from hosted services."
As the premier Broadsoft hosted carrier in the New York metropolitan area and experts in business voice and data solutions, Stage 2 Networks' newly acquired customers will have additional service options that can be integrated or added to their current hosted solutions. In addition, Stage 2 provides live customer support 24 hours per day, 7 days a week.
"I've personally known the CTI principals as well as many of their employees since inception of their business, and I know what a high quality operation they run. Their customers can rest assured that they are in great hands with Stage 2," added Mr. Gillette.
Q Advisors, a Denver and San Francisco-based investment banking boutique, acted as the exclusive financial advisor to Stage 2 in connection with this transaction.
About Stage 2 Networks
Stage 2 Networks, a New York City-based communications provider, is among the forerunners in opening up the cloud-communications universe to companies of all sizes. Stage 2's robust network allows businesses to access a comprehensive portfolio of communications services including hosted PBX and VoIP, cloud-based unified communications (UC), advanced voice applications, and network services for both voice and data. Stage 2 delivers creative, customized solutions to businesses that will receive streamlined communications with enhanced quality of service, while drastically lowering their capital expenditures. Stage 2 is a founding member of the Cloud Communications Alliance. For more information visit www.stage2networks.com.
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About Consolidated Technologies, Inc.
Consolidated Technologies, Inc., (CTI) has been a premier provider of practical and effective communications solutions since 1997. Utilizing a single source approach, the company brings together leading communications experts, world-class products, and the creativity and expertise to design, implement, and manage powerful converged communications solutions for medium to large businesses nationwide. For more information, visit www.consoltech.com.