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Uniserve Communications Acquires RootCellar TechnologiesVANCOUVER, British Columbia, July 16, 2018 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (“Uniserve” or the “Company”) (TSX.V:USS) is pleased to announce that, further to its new release on June 5, 2018, it has closed the acquisition (the “Acquisition”) of certain assets of RootCellar Technologies Corporation (“RootCellar”). Uniserve’s CEO Nicholas Jeffery stated: “With the acquisition of RootCellar, Uniserve will continue to drive its revenues, its enterprise mix of business and strengthen its partner alliances across Canada. Root Cellar will integrate well into Uniserve’s existing business in Kitchener-Waterloo and will gain the opportunity to work with a very experienced managed services technology and sales solutions team. The deep knowledge that the new team have of data storage and disaster recovery compliments the existing managed service portfolio of Uniserve.” Acquisition of Root Cellar Pursuant to an Asset Purchase Agreement dated May 23, 2018 (the “Asset Purchase Agreement”), the Company paid an aggregate purchase price of $2 million (the “Purchase Price”) for certain assets (the “Acquired Assets”) of RootCellar. The Acquired Assets consist of all of the assets of RootCellar used in connection with its information technology consulting services, information technology security services, information technology training, along with audit and remediation services. Additionally, the Company entered into employment agreements with certain former employees of RootCellar in connection with the operation of the Acquired Assets. RootCellar projected revenue of $8m and EBITDA + position of $800k at their year end July 31st 2018. RootCellar Technologies is a hybrid IT Consulting firm, supported by over a decade of trusted experience in the service of security and mission critical data management. The highly skilled Security Opertional Center Team joining Uniserve will support the mission critical Risk Management-as-a-Service. RootSecure assets not included in the acquisition will operate independently as RootSecure Corporation and will enter into a reseller partnership with Uniserve who will continue to supply and support RootCellar customers with its managed Cyber Risk Platform. About Uniserve Uniserve is a 2018 TSX Venture top 50 performance company. Uniserve prides itself on world class customer service based in Canada. When all else is equal, clients can trust Uniserve to have a great price, a great experience and to be a company customers’ like working with – we call it “ONE click, call, connect”. This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. Michael C. Scholz For more information please contact Deanie Wong [email protected] +1 6043953953 Neither TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as statements that describe Uniserve’s plans with respect to the use of the proceeds of the Private Placement, anticipated increase in Uniserve’s revenues and the successful integration of the Acquired Assets into Uniserve’s existing business in Kitchener.
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