On March 17th, 2016 magicJack VocalTec Ltd, a VoIP cloud-based communications company, closed the acquisition of North American Telecommunications d/b/a Broadsmart. Todd Correll & Tom Tharrington will remain the CEO & President of the company, as a subsidiary of magicJack VocalTc Ltd.
“With the successful close of this transaction, magicJack has now diversified its operations into UCaaS with one of the fastest growing and most profitable businesses in the industry,” said Gerald Vento, President and CEO of magicJack VocalTec, Ltd. “This acquisition positions us to compete long-term in this category by utilizing the Broadsmart business and our strong balance sheet to target medium and large enterprise customers.”
Broadsmart has a proven history of designing, provisioning & delivering United Communication as a service (UCaas) solutions to blue chip corporate customers nationally. MagicJack is please to diversify its core business into targeting UCaaS high end SMB & enterprise customers & looks forward to exploring new opportunities for Broadsmart to realize synergies by leveraging magicJack’s proprietary low cost infrastructure.
‘’We are excited to be combining Broadsmart with magicJack VocalTec,” said Todd Correll, CEO. “It will provide us greater resources to deliver additional managed services and solutions to our customers and channel partners. Tom and I look forward to providing the same high quality, high touch customer service that Broadsmart’s customer base has come to expect from the company.”
During 2015, Broadsmart generated EBITDA of USD 4.6 million. For 2016 Broadsmart is forecasting over 20 percent year-over-year growth in sales.
