Business news is in the headlines today as we take note of a recent BTG acquisition and an IPO announcement from Ring Central.
Breakthrough Technology Group (BTG), a cloud and managed services provider, recently announced the acquisition of CelPro Associates (CelPro). With the acquisition, CelPro, becomes the Mobility Division of BTG (BTG Mobility), as a managed services provider and trusted advisor to corporate and government clientele of nearly 20 years. The company has deployed more than 150,000 devices across North America. As BTG Mobility, CelPro will continue to offer services such as platform monitoring and support, mobile device management, BYOD policy and program development, software and solution design, and mobile application development and deployment.
Commenting in a statement, BTG CEO and Founder Jeff Kaplan said, “This acquisition positions BTG not only as the one-stop shop where organizations of all sizes can solve their mobility and wireless problems, but also as the most complete IT and telecom solutions provider. Mobility is at the heart of the technical evolution, as mobile app development and deployment affects every corner of operations as part of an ongoing quest to improve productivity.” He added, “BTG Mobility not only addresses the paradigm shift in business computing and communications, but is also a prescient examination of what the marketplace is calling for.” BTG noted in its statement that it is AT&T’s Top Revenue-Generating Solutions Partner.
In other business news, Ring Central announced on September 26, 2013 it has priced the initial public offer shares in its company at $13.00 per share for 7.5 million shares of common stock. The IPO raised $98 million for the company. RingCentral offers cloud-based VoIP and UC systems that target small businesses; the RingCentral virtual PBX service a flagship product.
Commenting in an interview on the IPO, Vlad Shmunis said “we started this business over 10 years ago, and now we have scale and products. We could have not asked for a better reception market and the way the stock has performed, we are very optimistic.” He added, “We are a growing cloud-based provider, with over 300,000 businesses. Our vision is not to just take a PBX into the cloud, but to connect people and not just devices, regardless on which device they use. "That is our unique value proposition. It is a very good company in an extremely hot space—our approach is global and we will launch in the UK next quarter and go from there.”