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.”