Fision Corporation Announces Closing of the Acquisition of Score, Inc.

Rhea-AI Summary

FISION Corporation (OTC: FSSN) has successfully acquired Score, Inc., a provider of enterprise software solutions for the credit repair sector. This acquisition, unanimously approved by FISION's Board of Directors on May 20, 2021, is expected to more than double the company's annual revenue for fiscal 2021 compared to 2020. Joshua Carmona, CEO of Score, has been appointed as FISION's Chief Operating Officer. The integration aims to enhance product offerings for enterprise customers and contribute to operational cash flow positivity in the near term.

Positive

• Acquisition expected to more than double annual revenues in fiscal 2021 compared to 2020.
• Appointment of Joshua Carmona as COO is beneficial given his experience in enterprise software management.
• Combined offerings are anticipated to create a value-added proposition for enterprise customers.

Negative

• None.

MINNEAPOLIS, June 3, 2021 /PRNewswire/ -- FISION Corporation (OTC: FSSN), a leading provider of cloud-based digital asset management, sales enablement, and agile marketing technologies, has closed on the acquisition of Score, Inc. Scoreinc.com currently provides enterprise software business to business solutions for approximately 100 U.S. companies in the credit repair space. 

On May 20, 2021 the Board of Directors of Fision unanimously voted to acquire 100% of the stock of Score, Inc and appoint Joshua Carmona, its CEO, to the Fision Board of Directors and as Fision's Chief Operating Officer. Mr. Carmona has experience in the management and operation of enterprise software companies. The details of the transaction and the agreements are in an 8k that was filed with the U.S. Securities and Exchange Commission on June 1, 2021.

Both companies believe that Fision's and Scoreinc.com are complimentary to each other and a combined product offering will be a value-added proposition to the enterprise customers of the respective companies.  

The acquisition of Score should more than double the annual revenues of the Company in fiscal 2021 over 2020 and could make a significant contribution to becoming operationally cash flow positive in the short to medium term.  

The Company intends to give a more comprehensive update on the progress of its surgery center project in Ft. Myers by the end of Q2. The Company has engaged Theodore Kalem of HRA Capital who has extensive experience in healthcare investment banking to assist with the execution of this project.  

About FISION Corporation

FISION is the nation's leading provider of agile marketing software that simplifies collaboration across global organizations, and more effectively manages brand and marketing content. FISION's patented technology brings unrivaled capabilities to enterprise users across more than 20 countries, including some of the world's largest corporations in healthcare, hospitality, financial/insurance, software, and technology. For more information visit www.FisionOnline.com. Media Contact: email at IR@FisionOnline.com or 612-927-3700.

About Score, Inc.

Success in today's environment requires that businesses lead through increased complexity and volatility, drive operational excellence and enable collaboration across enterprise functions, to develop higher quality leadership and talent, and manage amidst constant change. The ScoreWay Credit Repair Business Solution integrates Score's secure, reliable, scalable SaaS (Software as a Service), it's proven world-class dispute process, bundled with its unique one-on-one coaching / mentoring and revenue generating services. For more information visit www.Scoreinc.com.

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/fision-corporation-announces-closing-of-the-acquisition-of-score-inc-301305538.html

SOURCE Fision Corporation

FAQ

What is the significance of FSSN's acquisition of Score, Inc.?

The acquisition aims to double FISION's annual revenue and enhance product offerings in the credit repair sector.

When did Fision Corporation close the acquisition of Score, Inc.?

FISION Corporation closed the acquisition on June 3, 2021.

Who is the new Chief Operating Officer of FISION Corporation?

Joshua Carmona, the CEO of Score, Inc., has been appointed as the new COO.

How will the acquisition affect FISION's financial performance?

The acquisition is expected to significantly increase revenue and contribute to operational cash flow positivity.

What industries do FISION and Score, Inc. serve?

FISION serves various industries including healthcare, while Score, Inc. focuses on credit repair solutions.