Longstanding partners agree to amend and extend the term of their commercial agreement with simplified licensing for thousands of customers and partners globally.
Ottawa, Ontario (June 16, 2022) – Martello Technologies Group Inc., (“Martello” or the “Company”) (TSXV:MTLO), a leading developer of enterprise digital experience monitoring (“DEM”) solutions, announced today that it has entered into an amendment to its commercial agreement (the “Amended Agreement”) with key partner Mitel Networks Corporation (“Mitel”). Martello has worked with Mitel for more than ten years, providing its performance analytics software for Mitel’s enterprise customers and partners.
Martello’s original agreement with Mitel dates back to March 2012, with subsequent amendments over the last ten years. Updating a previous amendment with Mitel signed in January 2019, the Amended Agreement sets out the commercial terms under which Martello provides the Mitel Performance Analytics (“MPA”) software for sale to Mitel customers and partners. The Amended Agreement applies to enterprise-wide Mitel sales of MPA, simplifying the commercial licensing model to provide increased operational efficiency and ease for partners and customers, while increasing the contract term to three years with automatic two-year renewals, subject to certain conditions set out in the Amended Agreement. MPA is available as part of the Mitel Premium Software Assurance offering as well as the MiVoice Business Subscription and MiCloud Flex.
“We are happy to be able to extend our longstanding relationship with Martello through this agreement which will give even more of our customers access to the comprehensive unified communications network metrics MPA provides,” said Martin Bitzinger, Senior Vice President, Product Management at Mitel. “As an important value-added tool for Mitel partners and customers, MPA delivers the best available insights and performance data to ensure simplified monitoring and management of the real-time communications networks our customers rely on every day.”
“Together with Mitel, we have built a base of thousands of customers representing millions of users under management around the world, who rely on MPA to ensure that their communications systems work reliably no matter what is happening in the network infrastructure,” said John Proctor, President and CEO of Martello. “We’re pleased to extend this agreement and strengthen an important Martello business relationship.”
About Martello Technologies Group
Martello Technologies Group Inc. (TSXV: MTLO) is a technology company that provides digital experience monitoring (DEM) solutions to optimize the modern workplace. The company’s products provide actionable insight on the performance and user experience of cloud business applications, while giving IT teams and service providers control and visibility of their entire IT infrastructure. Martello’s software products include Vantage DX, which provides Microsoft 365 and Microsoft Teams end user experience monitoring and optimization. Martello is a public company headquartered in Ottawa, Canada with employees in Europe, North America and the Asia Pacific region. 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”. Forward-looking statements can be identified by words such as:”anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements the company makes regarding Mitel’s reliance on MPA as part of its growth strategy, the increased operational efficiency of the Amended Agreement and the importance of the Amended Agreement in strengthening Martello’s business line.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of the Company’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following:
- Continued volatility in the capital or credit markets and the uncertainty of additional financing;
- The Company’s ability to maintain its current credit rating and the impact on its funding costs and competitive position if it does not do so;
- Changes in customer demand;
- Disruptions to the Company’s technology network including computer systems and software, as well as natural events such as severe weather, fires, floods and earthquakes or man-made or other disruptions of its operating systems, structures or equipment;
- Delayed purchase timelines and disruptions to customer budgets, as well as Martello’s ability to maintain business continuity as a result of COVID-19; and
- Other risks disclosed in the Company’s filings with Canadian Securities Regulators, including the Company’s annual information form for the year ended March 31, 2021 dated January 7, 2022, which is available on the Company’s profile on SEDAR at https://sedar.com/.
Any forward-looking statement made by the Company in this news release is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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