Two Phoenix-based businesses have announced a purchase agreement of One Stop Voice (OSV) to Crexendo, Inc. (NYSE MKT: EXE). OSV, a company built by Joshua Simon, president of SimonCRE, provides top of the line, feature rich, cloud-based communications systems to small and medium sized business customers. OSV is located in Scottsdale and focuses on Arizona markets while providing telecom services nationwide. Crexendo is a hosted services company that provides hosted telecommunications services, hosted website services, website development software and broadband internet services for businesses and entrepreneurs. Their corporate offices are in Tempe.
This purchase will transfer certain infrastructure and customers of OSV to Crexendo. Crexendo has hired OSV’s customer service supervisor as well as their sales director to assure a smooth migration of OSV’s customer base into Crexendo. In addition Crexendo has entered into an agreement with OSV to maintain certain support functions to assure a seamless transition with no disruption to any customers.
Steven G. Mihaylo, Chief Executive Officer, commented, “We are very pleased with the OSV asset purchase and the synergies that our companies offer each other. We have indicated that we intend to grow our business both by acquisition and organically. We expect to add approximately $500,000 in annual revenues with this acquisition and we expect the acquisition to be accretive from day one. This acquisition confirms our commitment to acquiring accretive companies that expand our customer base and increase shareholder value. At the same time, we continue to make improvements to our internal sales as well as our dealer/partner program which we also expect will increase shareholder value.”
“We knew that to keep providing the level of service our customers expect, substantial infrastructure investment was required,” says Simon of the deal. “Crexendo provides world-class products and services and we knew our customers were in excellent hands. We are confident Crexendo will continue to provide the level of service that OSV customers have enjoyed while having the additional opportunity to provide some expanded services and offerings Crexendo has available.”
Simon is now able to focus his attention to his other business venture, SimonCRE, which is a nationally focused commercial real estate development company.
