Unisys Corp Acquisition

 
TIDMUSY 
 
Unisys to Acquire Unify Square for $152.5 Million, Creating the Most Advanced 
and Flexible Enterprise-wide Solution to Optimize the Collaboration Experience 
 
BLUE BELL, Pa. and BELLEVUE, Wash., June 3, 2021 /PRNewswire/ --  Unisys 
Corporation (NYSE: UIS), a global IT solutions company, today announced that it 
has entered into an agreement to acquire Unify Square, the leading experience 
management provider for secure collaboration and communications platforms, for 
$152.5 million on a cash-free, debt-free basis. Unisys is funding the 
transaction with cash on hand. 
 
The transaction, which is expected to close today, will enable Unisys to 
leverage Unify Square's Unified Communications as a Service (UCaaS) offerings 
to help advance its experience-focused digital workplace services solution set. 
 
"The acquisition of Unify Square will enhance Unisys' digital workplace 
services business to drive increased revenue growth and improved profitability 
and cash flow," said Peter Altabef, chair and CEO of Unisys. "The UCaaS market, 
in which Unify Square operates, is expected to be among the fastest-growing 
segments of the digital workplace services market. Unify Square's capabilities 
will enable Unisys to deliver higher-value solutions to its clients that 
enhance their productivity and employee satisfaction. The acquisition is 
expected to be accretive to adjusted EBITDA margin and adjusted free cash flow 
by 2023, with a de minimis impact initially." 
 
"Unisys and Unify Square hold a shared vision for how businesses can more 
easily adapt to the new reality of a hybrid workforce," said John Case, CEO, 
Unify Square. "Unify Square's goal is to empower our enterprise clients with a 
complete set of software and services that allows them to provide seamless, 
secure experiences to employees. Together with Unisys, we will have a unique 
opportunity to help more enterprises thrive in this new digital workplace 
environment." 
 
A Powerful Solution for Seamless, Rapid, Enterprise-wide Collaboration 
The integration of Unisys' and Unify Square's digital workplace services 
capabilities will help clients achieve seamless collaboration and experience 
parity through excellent employee experiences and agile ways of working that 
enable innovation any time, anywhere and on any device. Unisys and Unify Square 
will now be able to help clients achieve outcomes through: 
 
  * Accelerating transformation. Companies can now accelerate their digital 
    workplace journeys, quickly and seamlessly moving from legacy on-prem 
    communications platforms to modern cloud-based collaboration applications 
    with less disruption and with immediate benefits. 
  * Proactively assessing experience through real-time analytics. Companies can 
    now actively assess, analyze and improve employee experience across 
    multiple platforms while enhancing IT operational performance with 
    real-time analytics. 
  * Enabling comprehensive governance and management. Through built-in 
    compliance and security capabilities, Unify Square solutions provide a 
    policy framework and robust functionality to create policies to 
    simultaneously cover all collaboration platform security and lifecycle 
    management scenarios. 
 
"As we continue to navigate through uncertain times and new ways of working, 
the most successful organizations will be the ones that cultivate agile, 
dynamic worker experiences and work environments," said Amy Loomis, research 
director for IDC's Future of Work Agenda practice. "Leaders must work across 
functions to develop the workplace infrastructure, support, policies and 
procedures that will enable employees to securely access the people, tools and 
data they need any time, anywhere and from any device. The acquisition of Unify 
Square by Unisys provides the software, services and support leaders will need 
to support hybrid work models of the future." 
 
Unisys Digital Workplace Services 
Unisys Digital Workplace Services deliver advanced workplace solutions to help 
clients transform their digital workplaces and create exceptional end-user 
experiences. Unisys InteliServeT incorporates change-management capabilities 
and a user-centric design to deliver a frictionless employee experience that 
easily plugs into human resources, finance and business applications. In 
February 2021, for the third consecutive year, Gartner positioned Unisys as a 
Leader in its Magic Quadrant for Managed Workplace Services, North America 
report. 
 
The purchase price is subject to customary adjustments based on closing cash, 
indebtedness and working capital. For disclosures and definitions related to 
any Unisys financial metrics referenced in the attached, including adjusted 
EBITDA and adjusted free cash flow, please see the Unisys 1Q21 earnings 
release, available on the company's website. Clearsight Advisors, Inc. acted as 
an exclusive financial advisor to Unify Square. 
 
About Unisys 
Unisys is a global IT solutions company that delivers successful outcomes for 
the most demanding businesses and governments. Unisys offerings include digital 
workplace services, cloud and infrastructure services, software operating 
environments for high-intensity enterprise computing, business process 
solutions and application development services. Unisys integrates security into 
all of its solutions. For more information on how Unisys delivers for its 
clients across the government, financial services and commercial markets, visit 
www.unisys.com. 
 
Follow Unisys on Twitter and  LinkedIn. 
 
About Unify Square 
Unify Square's software and services optimize and enhance the world's largest 
collaboration and communication deployments, helping businesses manage and 
secure their meetings, chats and calls. The company's PowerSuiteT software 
creates a unified dashboard to surface actionable insights and help manage 
collaboration platforms - optimizing and transforming performance health and 
user effectiveness. Unify Square is a global elite partner for Microsoft and 
Zoom. Unify Square's solutions have delivered value to more than 6 million 
collaboration seats, in over 275 enterprises across more than 50 countries, and 
in most major industry verticals. 
 
Headquartered in Bellevue, Wash., Unify Square also has offices in the United 
Kingdom, Germany, Switzerland, India, Australia and Lithuania. 
 
Forward-Looking Statements 
Any statements contained in this release that are not historical facts are 
forward-looking statements as defined in the Private Securities Litigation 
Reform Act of 1995. Forward-looking statements are usually identified by or are 
associated with such words as "intend," "plan," "believe," "estimate," 
"expect," "anticipate" and similar terminology. Such forward-looking statements 
include those that address activities, events or developments that Unisys or 
its management believes or anticipates may occur in the future, including 
earnings enhancements, synergies and other benefits from the Unify Square 
acquisition. All forward-looking statements are based upon Unisys' current 
expectations, various assumptions and data available from third parties. 
Unisys' expectations and assumptions are expressed in good faith, and Unisys 
believes there is a reasonable basis for them. However, there can be no 
assurance that such forward-looking statements will materialize or prove to be 
correct as forward-looking statements are inherently subject to known and 
unknown risks, uncertainties and other factors which may cause actual future 
results, performance or achievements to differ materially from the future 
results, performance or achievements expressed in or implied by such 
forward-looking statements. Numerous risks, uncertainties and other factors may 
cause actual results to differ materially from those set out in the 
forward-looking statements, including: the risk that Unisys may be unable to 
successfully integrate Unify Square or that integration costs exceed Unisys' 
expectations; the risk that Unisys may not realize the benefits expected from 
the acquisition, including earnings enhancements and synergies; potential 
adverse reactions or changes to business or employee relationships, including 
those resulting from the announcement of the acquisition; the risk that Unisys 
may not attract, motivate and retain experienced personnel in key positions; 
the risk that Unisys may not effectively anticipate and respond to volatility 
and rapid technological innovation; the risk of adverse developments on Unisys' 
ability to grow revenue and expand margin in its Digital Workplace Services and 
Cloud and Infrastructure businesses; the risks of doing business 
internationally, particularly when a significant portion of Unisys' revenue is 
derived from international operations; the risk of cybersecurity breaches, 
which could result in significant costs and harm Unisys' business and 
reputation; and the other factors discussed in the Item 1A, "Risk Factors" 
sections in Unisys' Annual Report on Form 10-K for the fiscal year ended 
December 31, 2020 and in Unisys' Quarterly Report on Form 10-Q for the quarter 
ended March 31, 2021, and in Unisys' other filings with the Securities and 
Exchange Commission which are available at http://sec.gov. For any 
forward-looking statements contained in this or any other document, Unisys 
claims the protection of the safe harbor for forward-looking statements 
contained in the Private Securities Litigation Reform Act of 1995. Unisys 
assumes no obligation to update or revise any forward-looking statements in 
light of new information or future events except as required by law. 
 
RELEASE NO.: 0603/9389 
 
Unisys and other Unisys products and services mentioned herein, as well as 
their respective logos, are trademarks or registered trademarks of Unisys 
Corporation. Any other brand or product referenced herein is acknowledged to be 
a trademark or registered trademark of its respective holder. 
 
UIS-C 
 
CONTACT: Investors: Courtney Holben, Unisys, 215-986-3379, 
[e-mail]; Media: Carrie Lake, Unisys, 703-624-7300, 

[e-mail]; Media: Scott Gode, Unify Square, 425-761-3051, 
[e-mail] 
 
 
 
END 
 
 

(END) Dow Jones Newswires

June 03, 2021 08:05 ET (12:05 GMT)