Potsdam, New York, January 7, 2008 – Formally a majority-owned subsidiary of Nicholville Telephone Company (Nicholville, NY), Fused Solutions has been acquired by a New England based investment group led by Michael Ryan, CEO of North Bay Technology Development. The transaction became effective 12/31/07.
All parties to the transaction are in agreement regarding the benefits and opportunities it represents. According to Mark Cornett, COO of Fused Solutions LLC, new ownership will facilitate substantial growth opportunities through its strategic and financial relationship with North Bay Associates. Per Cornett, “North Bay has expertise in helping small, technology-based companies grow. As such, they are a good complement to the strong operational
organization that Fused has become.”
Speaking on behalf of Nicholville Telephone Company, President and CEO Andy McAdoo comments, “This transaction not only enables Fused to more aggressively grow the business, but also allows Nicholville Telephone, and its subsidiary Slic Network Solutions, to focus on their core competencies of provisioning advanced telecom services over state-of-the-art fiber networks.”
According to Michael Ryan, CEO of North Bay Technology Development and a 1985 Graduate of Clarkson University, “North Bay is a growth-oriented business development firm with a long-term commitment to Potsdam and St. Lawrence County. The combination of North Bay’s expertise in business development, Fused Solutions’ focus on outsourced customer service for technology based companies, and the growth positive business climate
here in St. Lawrence County make for a compelling story on why it makes sense to locate knowledge based businesses here in the North Country.”
For additional information, contact Mark Cornett or visit www.fusedsolutions.com.
About Fused Solutions - Fused Solutions provides 24/7 outsourced technical support services for technology based organizations, include Internet service providers, application service providers, software development companies, and manufacturers of network security solutions.
About Nicholville Telephone – Nicholville Telephone, and its subsidiary Slic Network Solutions, provide
advanced telecom services to commercial and residential customers in St. Lawrence County. Learn more at
www.nicholville.com and www.slic.com.
About North Bay Technology Development – With offices in both Potsdam, NY and Marlborough, MA, North Bay offers outsourced business development consulting to growth-oriented technology firms. Recently, North Bay Technology Development was approved as a qualified business development company by Seaway Private Equity Corp., (SPEC). Learn more at www.northbaytech.com and www.specinvest.org.