Dynavar Networking Inc., of Calgary, Canada, is pleased to announce that it has today completed a transaction to acquire the ISP (Internetworking) business unit of Sea Change Corporation, effective April 1, 2000. Sea Change of Toronto, Canada was a major competitor across North America to Dynavar, reselling leading edge internetworking equipment in the ISP, CLEC and Telco markets.
Under the agreement, Dynavar will acquire Sea Change's staff, inventory, supplier agreements, and customer base related to the business.
"Previously, Sea Change and Dynavar competed aggressively in the ISP market segment" commented Greg Genge, President of Dynavar "By combining resources, Dynavar emerges as the leading VAR servicing the Canadian market. Our dominant Canadian market share provides us with a firm foundation for expansion into the much larger US market"
"Sea Change intends to focus on the enterprise networking and security market, particularly our recently announced CareSafe remote network management service. CareSafe is targeted at the rapidly expanding market for managed VPN's and firewalls" said Richard Earle, President of Sea Change "the huge potential for CareSafe warrants our focussed attention"
Dynavar Networking Inc. is a fast growing Value Added Reseller of leading internetworking manufacturers, including Lucent Technologies, 3Com, Cacheflow, Cisco, BreezeCom, Redback, Alteon, Paradyne, Watchguard, and Sonic. All current Dynavar product lines will continue to be offered; as a result of the acquisition, Dynavar will represent new vendors including Juniper and Foundry.
Going forward, Dynavar is projecting annual sales in excess of $22,000,000 - this will make Dynavar the largest Lucent VAR in Canada, as well as one of the larger Lucent VARs in North America. Dynavar will be incorporating Sea Change's offices in Montreal, Toronto, Detroit and Atlanta, giving Dynarvar a total of eleven (11) offices across North America. The acquisition of Sea Change will continue the explosive growth that Dynavar has seen for the last 5 years.
For more information contact:
-Greg Miller, EVP & COO, Dynavar Networking Inc. at 403-571-5000 x 112
-Richard Earle, President, Sea Change Corporation at 905-542-9484 x227