Green piece: TELUS acquires Fastvibe to help Canadian businesses reduce travel, improve communications
Toronto-based Fastvibe delivers superior Web streaming experience for customers
Toronto, ON – TELUS today announced that it has acquired privately held Fastvibe Corporation, a leading provider of innovative Web streaming solutions for business. The purchase price was not disclosed.
The Fastvibe team brings unique technical, event and production Web streaming management expertise to TELUS. The acquisition strengthens TELUS’ technology solutions portfolio by offering Canadian businesses an environmentally responsible and cost effective way to deliver information like training, employee communications and investor information to staff and stakeholders who are geographically dispersed.
“We are very pleased to welcome the Fastvibe team to TELUS,” said David Fuller, senior vice-president, Solutions and Products, TELUS Business Solutions. “Business today is global. By acquiring one of Canada’s most successful and innovative Web streaming providers, TELUS can provide our customers with another leading collaboration solution that allows them to reduce travel while improving the quality of communications for business.”
Fastvibe delivers truly unique “streaming” software. Their custom application takes live or pre-recorded video and audio, and custom wraps it with an organization’s communication tools including logo, brand colours, images and PowerPoint presentations. The Webcast is supplied with a quality of video service that is superior to any other product in the market. The software also provides for chat, question and answer, and polling capabilities.
“This is a positive development for our company, our customers and our employees,” said Tim Macklaier, president and chief executive officer of Fastvibe. “The strategic combination of our two companies will allow us to leverage the strength of TELUS’ brand and broad market reach to significantly grow our services in Canada and globally.”
Launched in 2000, Fastvibe, which is based in Toronto, currently serves 130 corporate customers including Bank of Montreal, Bank of Nova Scotia, Barrick Gold, Trans Canada Pipelines, Ministry of Education of Ontario, Torstar and Investors Group.
Web streaming is a rapidly growing market. In Canada alone, the market is currently estimated at $69 million and is expected to grow to $203 million by 2011 as more Canadian businesses adopt innovative Internet-based technologies to improve communications and reduce environmental impact.
This document contains statements about expected future events and financial and operating results of TELUS Corporation (“TELUS” or the “Company”) that are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the assumptions, predictions and other forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future results to differ from the forward-looking statements.
Factors that could cause actual results to differ materially include but are not limited to: competition; economic growth and fluctuations; human resource developments; business integrations and internal reorganizations; technology; process risks; health, safety and environmental developments; prospective acquisitions or divestitures; and other risk factors discussed herein and listed from time to time in TELUS’ reports, comprehensive public disclosure documents including the 2006 Annual Report, 2007 quarterly reports and in other filings with securities commissions in Canada (filed on SEDAR at www.sedar.com) and the United States (filed on EDGAR at www.sec.gov).
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