Unisys to Acquire
Unify Square for $152.5 Million,
Creating the Most Advanced and Flexible Enterprise-wide Solution to
Optimize the Collaboration Experience
BLUE BELL, Pa. and BELLEVUE, Wash., June 3, 2021
/PRNewswire/ -- Unisys Corporation (NYSE: UIS), a global IT
solutions company, today announced that it has entered into an
agreement to acquire Unify Square, the leading experience
management provider for secure collaboration and communications
platforms, for $152.5 million on a
cash-free, debt-free basis. Unisys is funding the transaction with
cash on hand.
The transaction, which is expected to close today, will enable
Unisys to leverage Unify Square's Unified Communications as a
Service (UCaaS) offerings to help advance its experience-focused
digital workplace services solution set.
"The acquisition of Unify Square will enhance Unisys' digital
workplace services business to drive increased revenue growth and
improved profitability and cash flow," said Peter Altabef, chair and CEO of Unisys. "The
UCaaS market, in which Unify Square operates, is expected to be
among the fastest-growing segments of the digital workplace
services market. Unify Square's capabilities will enable Unisys to
deliver higher-value solutions to its clients that enhance their
productivity and employee satisfaction. The acquisition is expected
to be accretive to adjusted EBITDA margin and adjusted free cash
flow by 2023, with a de minimis impact initially."
"Unisys and Unify Square hold a shared vision for how businesses
can more easily adapt to the new reality of a hybrid workforce,"
said John Case, CEO, Unify Square.
"Unify Square's goal is to empower our enterprise clients with a
complete set of software and services that allows them to provide
seamless, secure experiences to employees. Together with Unisys, we
will have a unique opportunity to help more enterprises thrive in
this new digital workplace environment."
A Powerful Solution for Seamless, Rapid, Enterprise-wide
Collaboration
The integration of Unisys' and Unify Square's digital workplace
services capabilities will help clients achieve seamless
collaboration and experience parity through excellent employee
experiences and agile ways of working that enable innovation any
time, anywhere and on any device. Unisys and Unify Square will now
be able to help clients achieve outcomes through:
- Accelerating transformation. Companies can now accelerate their
digital workplace journeys, quickly and seamlessly moving from
legacy on-prem communications platforms to modern cloud-based
collaboration applications with less disruption and with immediate
benefits.
- Proactively assessing experience through real-time analytics.
Companies can now actively assess, analyze and improve employee
experience across multiple platforms while enhancing IT operational
performance with real-time analytics.
- Enabling comprehensive governance and management. Through
built-in compliance and security capabilities, Unify Square
solutions provide a policy framework and robust functionality to
create policies to simultaneously cover all collaboration platform
security and lifecycle management scenarios.
"As we continue to navigate through uncertain times and new ways
of working, the most successful organizations will be the ones that
cultivate agile, dynamic worker experiences and work environments,"
said Amy Loomis, research director
for IDC's Future of Work Agenda practice. "Leaders must work across
functions to develop the workplace infrastructure, support,
policies and procedures that will enable employees to securely
access the people, tools and data they need any time, anywhere and
from any device. The acquisition of Unify Square by Unisys
provides the software, services and support leaders will need to
support hybrid work models of the future."
Unisys Digital Workplace
Services
Unisys Digital Workplace Services deliver advanced workplace
solutions to help clients transform their digital workplaces and
create exceptional end-user experiences. Unisys InteliServe™
incorporates change-management capabilities and a user-centric
design to deliver a frictionless employee experience that easily
plugs into human resources, finance and business applications. In
February 2021, for the third
consecutive year, Gartner positioned Unisys as a Leader in its
Magic Quadrant for Managed Workplace Services, North America report.
The purchase price is subject to customary adjustments based on
closing cash, indebtedness and working capital. For disclosures and
definitions related to any Unisys financial metrics referenced in
the attached, including adjusted EBITDA and adjusted free cash
flow, please see the Unisys 1Q21 earnings release, available on the
company's website. Clearsight Advisors, Inc. acted as an exclusive
financial advisor to Unify Square.
About Unisys
Unisys is a global IT solutions company that delivers successful
outcomes for the most demanding businesses and governments. Unisys
offerings include digital workplace services, cloud and
infrastructure services, software operating environments for
high-intensity enterprise computing, business process solutions and
application development services. Unisys integrates security into
all of its solutions. For more information on how Unisys delivers
for its clients across the government, financial services and
commercial markets, visit www.unisys.com.
Follow Unisys on Twitter and LinkedIn.
About Unify Square
Unify Square's software and services optimize and enhance the
world's largest collaboration and communication deployments,
helping businesses manage and secure their meetings, chats and
calls. The company's PowerSuite™ software creates a unified
dashboard to surface actionable insights and help manage
collaboration platforms — optimizing and transforming performance
health and user effectiveness. Unify Square is a global elite
partner for Microsoft and Zoom. Unify Square's solutions have
delivered value to more than 6 million collaboration seats, in over
275 enterprises across more than 50 countries, and in most major
industry verticals.
Headquartered in Bellevue,
Wash., Unify Square also has offices in the United Kingdom, Germany, Switzerland, India, Australia and Lithuania.
Forward-Looking Statements
Any statements contained in this release that are not historical
facts are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are usually identified by or are associated with such
words as "intend," "plan," "believe," "estimate," "expect,"
"anticipate" and similar terminology. Such forward-looking
statements include those that address activities, events or
developments that Unisys or its management believes or anticipates
may occur in the future, including earnings enhancements, synergies
and other benefits from the Unify Square acquisition. All
forward-looking statements are based upon Unisys' current
expectations, various assumptions and data available from third
parties. Unisys' expectations and assumptions are expressed in good
faith, and Unisys believes there is a reasonable basis for them.
However, there can be no assurance that such forward-looking
statements will materialize or prove to be correct as
forward-looking statements are inherently subject to known and
unknown risks, uncertainties and other factors which may cause
actual future results, performance or achievements to differ
materially from the future results, performance or achievements
expressed in or implied by such forward-looking statements.
Numerous risks, uncertainties and other factors may cause actual
results to differ materially from those set out in the
forward-looking statements, including: the risk that Unisys may be
unable to successfully integrate Unify Square or that integration
costs exceed Unisys' expectations; the risk that Unisys may not
realize the benefits expected from the acquisition, including
earnings enhancements and synergies; potential adverse reactions or
changes to business or employee relationships, including those
resulting from the announcement of the acquisition; the risk that
Unisys may not attract, motivate and retain experienced personnel
in key positions; the risk that Unisys may not effectively
anticipate and respond to volatility and rapid technological
innovation; the risk of adverse developments on Unisys' ability to
grow revenue and expand margin in its Digital Workplace Services
and Cloud and Infrastructure businesses; the risks of doing
business internationally, particularly when a significant portion
of Unisys' revenue is derived from international operations; the
risk of cybersecurity breaches, which could result in significant
costs and harm Unisys' business and reputation; and the other
factors discussed in the Item 1A, "Risk Factors" sections in
Unisys' Annual Report on Form 10-K for the fiscal year ended
December 31, 2020 and in Unisys'
Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, and in Unisys' other filings with
the Securities and Exchange Commission which are available at
http://sec.gov. For any forward-looking statements contained in
this or any other document, Unisys claims the protection of the
safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. Unisys assumes no
obligation to update or revise any forward-looking statements in
light of new information or future events except as required by
law.
RELEASE NO.: 0603/9389
Unisys and other Unisys products and services mentioned herein,
as well as their respective logos, are trademarks or registered
trademarks of Unisys Corporation. Any other brand or product
referenced herein is acknowledged to be a trademark or registered
trademark of its respective holder.
UIS-C
CONTACT: Investors: Courtney
Holben, Unisys, 215-986-3379, courtney.holben@unisys.com;
Media: Carrie Lake, Unisys,
703-624-7300, carrie.lake@unisys.com; Media: Scott Gode, Unify Square, 425-761-3051,
scottg@unifysquare.com