FISION Acquires Volerro, a Leader in Cloud-based Enterprise Content Collaboration
April 26, 2017
Acquisition Adds a Top Five U.S. Bank and Shopko to Growing Roster of Major Enterprise Customers on FISION’s Digital Asset Management and Sales Enablement SaaS Platform
MINNEAPOLIS – April 26, 2017 – FISION Corporation (OTCQB: FSSN), a leading provider of cloud-based digital asset management and sales enablement, has entered a definitive agreement to acquire Minneapolis-based Volerro Corporation, a leader in cloud-based content collaboration.
Volerro brings to FISION major enterprise clients that include a top five U.S. bank and Shopko Stores, a $3.2 billion U.S. retailer operating 363 stores across 24 states. Volerro also adds complementary cloud-based collaboration and sales enablement technology, along with experienced software development and service teams.
Volerro’s SaaS platform simplifies how enterprise teams create, refine and distribute content. By streamlining content production and team coordination, its cloud-based collaboration service eliminates ‘content chaos’ among product, brand, marketing and creative teams. Volerro’s ReVu.Me cloud app allows team members to work on the same document in real-time with integrated chat and voice conferencing.
“Volerro’s complementary technology and client base made it an ideal addition for FISION,” said company CEO, Mike Brown. “Together, we can now provide the complete digital asset solution, from brand-compliant ideation and creation, to distribution and sales enablement. We’re excited about the power we’re creating with this ultimate solution, as it goes beyond traditional sales automatization and fully enables our clients to win in the marketplace.”
According to Kevin Lynch, Volerro founder and CEO: “For some time, FISION and Volerro have recognized the benefits of combining forces, not only to drive growth but also to benefit our loyal customer bases. We also share a common vision for enabling enterprises with collaborative technologies that solve major pain points in the creation and management of digital content, and turning content into sales.”
Former Pillsbury Company CEO John Lilly has been a key investor in Volerro through his early stage investment fund, Lateral Capital Management. He believes Volerro’s technology can be a huge benefit for a wide range of growing companies and FISON has the perfect set of complementary products. “When combined with FISION’s suite of CRM process tools,” stated Lilly, “the FISION/Volerro product line can finally make Agile Marketing work in the real world.”
The addition of Volerro’s customer base significantly advances and strengthens FISION’s financial services vertical and opens a new vertical with retail. For financial services, FISION solves critical compliance issues, while for retail, the company see tremendous growth opportunities in solving their unique challenges.
As more and more bricks-and-mortar retailers need to support a strong online presence, FISION can help them to more easily and cost-effectively create and distribute digital content across both channels. FISION’s multi-tenant capability also permits outside agency partners to securely access the content repository and create collateral materials for stores and online that stays true to approved branding and messaging.
Several large enterprise companies from a range of industries have adopted FISION’s unique SaaS solution over the last year, including a national financial services company, a top provider of online higher education, and an operator of the world’s largest business network.
FISION has helped them overcome common challenges in the traditional sales and marketing process, allowing distributed sales and marketing teams to access pre-approved corporate campaigns that can be customized in real-time and executed on the local level.
FISION’s cloud-based sales enablement platform connects sales teams to the most relevant content for each selling situation, while providing flexible ways to present content that is brand and legally compliant. Its powerful multi-tiered and multi-tenant functionality provides administrators real-time visibility into the effectiveness of marketing and sales communication, down to the individual asset and user level.
Consideration paid for Volerro was comprised of restricted common stock of FISION, with one-year lock-up terms and additional performance-based stock compensation based on client retention. Further details of the transaction are available in Form 8-K filed with the Securities and Exchanges Commission.
About FISION Corporation
Founded in 2011, Minneapolis-based FISION is a cloud-based digital asset management, marketing automation, and sales enablement company. FISION’s advanced, proprietary technology specializes in managing a customer’s brand and marketing content enabling marketing and sales people to quickly and easily create compelling, personalized, on-brand communications, which increases revenue and profits. With more than 65,000 users in 21 countries, FISION services enterprise clients in the health care, hospitality, financial/insurance, software and technology industries. For more information, visit FisionOnline.com.
Important Cautions Regarding Forward-looking Statements
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to FISION Corporation or (the “Parties”) are intended to identify such forward-looking statements. The Parties undertake no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect future financial results are discussed more fully in the Parties’ respective filings with the U.S. Securities and Exchange Commission (“SEC”), including the their most recent Annual Report on filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
Garry Lowenthal, EVP & CFO
Tel (612) 927-3620
Ron Both, CMA
Tel (949) 432-7557