Versature

Closing the deal when others couldn't

Background

Versature is a rapidly growing Canadian VoIP service provider.  The company acknowledges it plays in a very competitive space, albeit one that is ripe for a shake-up of the large, slow-moving incumbents. Versature had positioned itself well to be that disruptor, but needed more resources and sought a strategic partner. ​ Previously, the company had been through an unsuccessful sale process with another investment bank.  A decision was made to work with FirePower after receiving assurances that the firm would be undaunting in casting a wide buyers’ net and additionally, would run a carefully considered sale process.

Solution

FirePower’s Investment Banking team crafted a story highlighting Versature’s strong growth story, brand, people and processes, then approached more than 200 prospective buyers, and received bids from 4 strategics. The most compelling offer came from net2phone, a subsidiary of US public company, IDT.​

Our Investment Banking team played a critical role throughout the letter of intent (LOI) negotiations, bridging differences in terminology and formulas.  As Paul Emond, CEO of Versature explains: “The team's execution was impressive, guiding us through the final stage of the process to a successful close within 90 days of signing the LOI.”  ​

​Under new ownership, and with expanded access to capital, Versature is well-positioned to accelerate its growth trajectory in the Canadian market, and collaborate on initiatives within IDT abroad.

Investment Banking IT Software & Services
Case Studies

LEAP
LEAP Group was formed to acquire the assets of Metal Networks, an online quoting platform for metals procurement based in Austin, Texas. FirePower arranged a compelling deal structure for LEAP in this distressed situation.

Read Full Case Study

Decisive Technologies
Decisive Technologies is a value-added reseller of IT hardware, and BriteSky Technologies is a Canadian, managed cloud services provider (collectively “Decisive”). Decisive needed additional capital to accelerate its expansion plans. The shareholders were adamant that a new investor should share their values and vision for the company, and FirePower was engaged to find an investor and negotiate a deal structure that met all of the shareholders’ objectives.

Read Full Case Study
Market Insights
From the archives: April 2019

Tapping into Private Debt: Unlocking Opportunity
It’s tough to find capital to execute on ambitious plans to grow, acquire or turn things around in Canada, particularly if you’re looking for…

Read Full Report