Versature said it currently has more than 300 customers across the country and recently recorded 100 per cent year-over-year subscriber growth for its hosted PBX business services.
“This opportunity presented itself at a very opportune time in our growth curve, and we expect to further accelerate subscriber activations with future acquisitions as they present themselves,” said Versature president and CEO Paul Emond in a statement.
Terms of the deal were not disclosed.
The company calls itself one of the good-news telecom stories in Ottawa that is sometimes overshadowed by the fallout of sector giant Nortel Networks.
It said Versature is one of many companies posed to “survive and thrive in the Telecom 2.0 world” by placing a greater focus on computer networking expertise as the industry transitions to a more network-centric model.
Versature had five employees at the start of the year, according to Ottawa Technology Magazine. The company said it’s added three new staff members in 2010 and expects to “immediately” hire additional staff as a result of the Octopus transaction.
