Business update for investors underscores
company's disciplined approach to building MRR while highlighting
opportunities in remote work.
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OTTAWA, March 17, 2020 /CNW/ - Martello Technologies
Group Inc. (TSXV: MTLO) ("Martello" or the "Company"), a leading
provider of solutions that deliver clarity and control of real-time
services on more than 5,000 networks in 175 countries around the
world, today shared a business update for investors. As businesses
around the world shift to a remote work model as a result of the
Coronavirus disease (COVID-19), Martello has seen an increase in
inquiries related to remote work. The Company continues to focus on
the growth of its approximately $1M
in monthly recurring revenue (MRR) and the health and safety of its
employees around the world. As capital markets weather increased
volatility, Martello's recurring revenue model provides
predictability and upside for investors.
"Our employees, themselves working remotely, are helping our
customers implement the tools they need to keep their IT
infrastructure running smoothly and ensure business continuity",
said John Proctor, President and CEO
of Martello. "We believe that our disciplined approach to building
MRR, which represents about 90% of total revenue, provides our
investors with stability and predictability amid the uncertain
market conditions we are currently experiencing".
VOIP Networks, Mitel's Northeast Partner of the Year for the
Americas, has many customers with distributed businesses that rely
on Mitel video conferencing and communication solutions for remote
real-time collaboration. "Martello's technology is a facilitator of
remote communication and remote problem resolution. By constantly
monitoring and managing the performance of Mitel collaboration and
communication services, the user has a smooth experience every time
and we know the service will perform as expected, without the need
to travel to a customer's site if issues arise," said John Collins, CTO at VOIP Networks.
Martello's own employees around the world are currently working
remotely from home, remaining productive with many of the same
cloud-hosted collaboration and communication tools that our
customers rely upon. Martello is committed to protecting the health
and safety of its employees and their families, and to helping to
contain the spread of COVID-19. The Company's COVID-19 response is
focused on managing risk, protecting health and safety, business
continuity and helping its customers.
Martello Enables Remote Work
Martello is helping thousands of businesses around the world to
stay productive while their employees work remotely. The Company
recently published a Remote Work webpage with resources to help
businesses struggling with the IT challenges associated with remote
work. More than four in 10 U.S. employees (43%) work away from
their team members, at least some of the time, a number that is
increasing as more businesses today are being forced to adopt
remote work policies in light of COVID-19.
Together with partner Mitel Networks, the leading communications
and collaboration vendor, Martello is keeping the business critical
communication and collaboration services that remote workers rely
on up and running, around the clock. According to Synergy Research,
Mitel has the largest number of cloud seats in the world with close
to 4.7 million users worldwide – more than 1.5 million seats ahead
of the next closest competitor. Martello's software monitors the
experience of Mitel users, to ensure their voice calls, video
conferences and contact center inquiries are not disrupted by echo,
delay or jitter. 56% of Martello's revenue (Q3 FY2020) is generated
from sales of this software to Mitel's customers.
Remote workers are highly dependent on certain critical business
applications, including Microsoft Office 365. A scalable and
reliable network infrastructure is critical to delivering these
tools. According to Richard Crevier,
network analyst at the Societe de Transport Montreal: "To create a
platform for remote work, you need a solid network infrastructure
with available and scalable bandwidth. Martello's technology
creates this foundation, so that new applications and services can
be deployed without bandwidth limitations". To ensure uptime for
Microsoft Office365 in cloud or hybrid network environments,
Martello's IT operations analytics software reports on service
health and SLA performance around the clock.
Related Resources
Martello Remote Work Solutions
E-Book: Keep Your Network Up and Running When Remote Work is
Required
Infographic: Is Your Business Ready for the Demands of Remote
Collaboration?
Optimizing the Office 365 Experience
About Martello Technologies Group
Martello Technologies Group Inc. (TSXV: MTLO) is a technology
company providing digital experience monitoring and optimization
solutions that monitor, analyze and optimize the performance of
real-time cloud services. Martello's products include SD-WAN
technology, unified communications (UC) performance analytics
software, and IT analytics software. Its partners include Mitel,
Microsoft and Paessler. 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