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OTTAWA, July 5, 2019 /CNW/ - Martello Technologies
Group Inc., ("Martello" or the "Company") (TSXV: MTLO) a
leading provider of technology solutions that deliver clarity and
control of complex IT environments deployed in thousands of
locations around the world, is pleased to provide insight on recent
stock market activity and developments in its business.
As increased trading activity in Martello's stock continues, the
Company wishes to update its shareholders and provide insight into
recent business developments. Martello will release its fourth
quarter and year end results for the 2019 fiscal year on
July 17, 2019.
Recent Stock Market Activity
Martello's Co-Chairman Bruce
Linton has been an integral part of Martello's success since
2013, moving into the role of Co-Chairman in 2017. Yesterday, he
offered his perspective on Martello:
"I would like to help Martello both define and execute their
strategy on acquisitions, because it is a very thoughtful and solid
company that essentially allows all of the business applications in
offices to work the way they should and avoid problems for users
and the IT team. As companies are distributing and
globalizing, this should be an even bigger problem that Martello
can solve, and so I would like to spend some time with that".
The Company believes that the market has viewed these comments
positively, recognizing the value that this additional focus can
bring to Martello. The Company confirmed in a press release issued
July 4, 2019 that management is
unaware of any material change in the Company's operations that
would account for the recent increase in market activity.
"Martello is fortunate to have Bruce's expertise on capital
markets and acquisition strategy", said John Proctor, President and CEO of Martello.
"Additional time with Bruce will accelerate and drive our program
as we seek to expand our business with further accretive
acquisitions, and focus on continuous and strong revenue
growth."
Recent Business Developments
Martello is focused on organic growth and growth through
acquisitions, with revenues of $3.1
million in its third quarter, a 136% increase over the same
period in 2018. The Company debuted on the TSXV on September 12, 2018 under the symbol 'MTLO', after
raising $7.5 million in a private
placement in June 2018. Martello has
completed two accretive acquisitions in the last 18 months, of
Elfiq Networks, an SD-WAN technology company based in Montreal, and Savision, an ITOps analytics
software company in Amsterdam.
Recent business developments include:
- Martello showcased a proof of concept of its next generation
network performance management solution for autonomous vehicles and
IoT in May 2019, developed in
collaboration with BlackBerry QNX, the global supplier of software
platforms to the auto industry. Learn more.
- After debuting on the list last year, Martello moved up 20
spots on the 2019 Branham300 ranking of Canada's top ICT companies. Learn
more.
- The Company recently highlighted its growth in the hospitality
industry, with Martello's solutions now deployed in thousands of
hotels around the world and partnerships with GuestTek in
Canada and Naizak in the
Middle East. Learn more about how
Martello is powering reliable high speed internet access for hotels
around the world.
- Leiden University Medical Center (LUMC) in the Netherlands, a Martello customer for 13
years, recently chose Martello to improve the performance and
reliability of hybrid cloud-based services, including Microsoft
Office 365 and Microsoft Azure. Learn more.
- In January 2019, Martello signed
an amendment to its agreement with Mitel Networks, a key
partner. The terms of the amendment included expanding the
coverage of Martello's software to additional Mitel communications
platforms, and extending the renewal term. Subsequently, in
March 2019, Mitel announced the
launch of Mitel Performance Analytics (MPA) 3.0, developed by
Martello, which expands the software's coverage to include the
MiVoice Connect platform.
About Martello Technologies Group
Martello Technologies Group Inc. (TSXV: MTLO) is a technology
company that provides clarity and control of complex IT
infrastructures. The company develops products and solutions that
monitor, manage and optimize the performance of real-time
applications on networks, while giving IT teams and service
providers control and visibility of their entire IT infrastructure.
Martello's products include SD-WAN technology, network performance
management software, and IT analytics software. Martello
Technologies Group is a public company headquartered in
Ottawa, Canada with offices in
Montreal, Amsterdam, Paris, Dallas
and New York. Learn more at
http://www.martellotech.com
This press release does not constitute an offer of the
securities of the Company for sale in the
United States. The securities of the Company have not been
registered under the United States Securities Act of 1933, (the
"1933 Act") as amended, and may not be offered or sold within
the United States absent
registration or an exemption from registration under the 1933
Act.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
the securities in any state in which such offer, solicitation or
sale would be unlawful.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release.
Cautionary Note Regarding Forward-Looking
Statements
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as required by
law, the Company disclaims any intention and assume no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable securities law. Additionally, the Company
undertakes no obligation to comment on the expectations of, or
statements made, by third parties in respect of the matters
discussed above.
SOURCE Martello Technologies Group