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American telecommunications provider West Corporation completes purchase of Magnetic North for $39m November 3, 2015

Posted by Dominic Black in Uncategorized.
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West Corporations announced their Q3 2015 results today with details surrounding two purchase emerging in the results. West said Monday it has completed the acquisition of ClientTell Inc., a provider of automated notifications and lab reporting services to the health care industry, for $38 million.

More interestingly for the UK market, West also said it bought Magnetic North for about $39 million in cash. West say that they will use the technology that Magnetic North has developed across the company to provide clients with the capability to deliver seamless and contextual multi-channel consumer experiences. This is yet another example of a Service Provider entering the market from the USA, followingRingCentral, 8×8 and ThinkingPhones in previous years and it will be interesting to see their strategy in the next few months.

Tom Barker, CEO West Corp, commented on the acquisitions: “Both ClientTell and Magnetic North boast double digit revenue growth and Adjusted EBITDA margins exceeding our Company average. Additionally, these highly strategic acquisitions enhance our solutions in growing markets and demonstrate our commitment to investing in leading technologies.”

Michael Quinn of Q Advisors was heavily involved in the acquisition and Cavell are looking forward to hearing him speak on Acquisitions and Mergers in the telecoms industry at our European VoIP summit in March 2016.

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