NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION,
DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR
IN PART, IN OR INTO THE UNITED
STATES.
OTTAWA, April 29, 2019 /CNW/ - Martello Technologies
Group Inc. (TSXV: MTLO) ("Martello" or the "Company"), a leading
provider of technology solutions that deliver clarity and control
of complex IT environments deployed in thousands of locations
around the world, is pleased to provide a business update on the
Company's market and channel expansion, product innovation,
acquisitions and capital market activities.
Market Expansion
In Q3 F2019, organic sales grew 44%
over the same quarter in the 2018 fiscal year. Martello continues
to see customer growth across all lines of business, as its
addressable market expands. The Company operates in several high
growth segments, including the global markets for SD-WAN and IT
Operations Analytics.
Martello's solutions are deployed in over 150 countries around
the world for more than 5,000 customers. In the last two quarters,
Martello has expanded into new regional markets including
Russia, Vietnam and the Middle East, and has seen steady growth in
European markets. While Martello solutions are deployed in many
vertical industries, the Company has seen recent growth from
national and central banking institutions, as well as hotels. Large
organizations such as the US Postal Service, United Nations and
KPMG have chosen Martello to power the performance of their IT and
network infrastructures.
Channel Expansion
To expand Martello's addressable
market, the Company announced a partnership with Germany-headquartered Paessler, joining the
Paessler Uptime Alliance to provide customers of Paessler's PRTG
monitoring system with solutions that consolidate views of multiple
IT systems into a single dashboard.
The Company's relationship with Mitel continues to grow and
expand, even as Martello's business diversifies with acquisitions
and organic growth. In March 2019,
Mitel announced the launch of Mitel Performance Analytics (MPA)
release 3.0, developed by Martello, which enables businesses to
communicate and collaborate more reliably by helping identify and
address potential UC network performance issues. This followed the
announcement in January 2019 of an
amendment to Martello's commercial agreement with Mitel. This
update to the commercial agreement reflects the increased scale and
operational value of Martello's product offering.
In Q3 F2019, the Mitel channel business accounted for 55% of
Martello's revenues, compared to 90% in the same quarter of F2018,
demonstrating growing diversification in the Company's revenue.
Revenues for this line of business grew 44% over the same quarter
in the 2018 fiscal year.
Product Innovation
As an increasing number of services
move into the cloud, Martello has positioned itself as a provider
of solutions to manage the performance of services in public,
private and hybrid cloud environments. In March 2019, the Company launched support for
Microsoft Office 365 and Azure in its IT Analytics software, and
expects a continued focus on enabling the performance of
cloud-hosted real-time services as this market grows.
Together with BlackBerry QNX, Martello is developing next
generation network performance management solutions for autonomous
vehicles and IoT. Martello's work with BlackBerry QNX as part
of the BlackBerry/L-Spark accelerator is progressing well, and the
Company expects that a proof of concept of these solutions will be
demonstrated when the program is completed. According to Gartner,
in its December 2017 report,
"Forecast: Internet of Things — Endpoints and Associated Services,
Worldwide, 2017", the global IoT market is expected to reach 25.1
billion endpoints by 2021, with total spending on endpoints and
services reaching $3.9 trillion in
2021.
Mergers and Acquisitions
Martello is executing on its
'build and buy' growth strategy. The integration of Savision,
acquired by Martello in November
2018, is essentially complete. The Company believes that the
activities undertaken with this integration have created a stronger
foundation for the efficient acquisition and integration of revenue
extension assets in the future. The acquisition of Savision was
immediately accretive to Martello, contributing $688,000 in revenue to the Company's Q3 F2019
financial results (period ending December
31, 2018), representing two months of revenues. Martello is
actively reviewing potential acquisition targets that can bring
technology and markets accretive to the Company's mission to
clarify and control complex digital environments.
Capital Markets
Martello has engaged INFOR Financial
to provide market making services, with the objective of
maintaining an orderly trading market for Martello's securities,
and improving market liquidity. Oak Hill Financial has been
providing investor relations services to the Company since
December 2018, and Martello has
participated in two investor conferences. Martello will continue to
build awareness in the Canadian investor community. The Company
will issue its year-end financials for the 2019 fiscal year in
July 2019.
About Martello Technologies Group
Martello
Technologies Group Inc. is a technology company that provides
clarity and control of complex IT infrastructures. The Company
develops products and solutions that monitor, manage and optimize
the performance of real-time applications on networks, while giving
IT teams and service providers control and visibility of their
entire IT infrastructure. Martello's products include SD-WAN
technology, network performance management software, and IT
analytics software. Martello 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
This news release contains "forward looking statements" within
the meaning of applicable securities laws. The forward-looking
statements contained in this news release are based only on
information currently available to us and speaks only as of
the date of this news release. Forward-looking statements can
be identified by words such as: "anticipate," "expects,"
"forecast," "believes," "will," "should," "objective," "goal" and
similar references to future periods. Examples of forward-looking
statements include, among others, statements we make regarding
future market spending on IoT endpoints, market growth of cloud
related services, integration of Savision with Martello's
operations, and INFOR Financial's ability to maintain an orderly
trading market for Company securities. Except as required
by applicable securities laws, the Company disclaims any
intention and undertakes no obligation
to publicly update or revise any forward-looking
statements, whether as a result of new information,
future developments or otherwise. 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