The IT Nerd

Martello Technologies Group Inc. a leading provider of network performance management solutions for real-time communications, announced today that it has concluded an amendment to its commercial agreement with Mitel Networks, a key global partner. Updating an agreement signed in April 2016, the terms of this amendment are expected to be favourable to Martello’s revenues, and include expanding the coverage of Martello’s software to additional Mitel communications platforms and extending the renewal term. Martello’s software is included in Mitel Premium Software Assurance offering in two tiers, Mitel Performance Analytics (MPA) and Mitel Performance Analytics Plus (MPA Plus). This agreement covers the use and resale of MPA software in both tiers.

Under the terms of the amended agreement, Martello will develop support in its software for the MiVoice Connect enterprise call platform, as well as the MiVoice 5000 communications and collaboration solution and the MiVoice Office 400. The amendment also extends the renewal term of the agreement to two years with automatic two year renewals.

In 2018, following the completion of an oversubscribed $7.5 million private placement, Martello debuted as a public company on the TSX Venture Exchange. This helps the company to continue and accelerate its strategic acquisition strategy that commenced in 2014. On November 2, 2018, the company announced the completion of its acquisition of Savision. This follows the acquisitions of SD-WAN player Elfiq Networks in December 2017 and Netvitesse in 2014. The Company’s solutions have been widely acclaimed in the industry. In September, Martello received a Frost & Sullivan Leadership Award for NPM (Network Performance Management) and ranked as Ottawa’s Fastest Growing Company, at No. 28 on the Growth 500 list of Canada’s Fastest Growing Companies.

Martello Technologies Group Inc. has announced today that Frost Bank, a Texas-based chartered bank that is among the largest banks in the United States, has chosen to renew its contract for the Savision IT operations management software products for the next three years. This follows an eight year relationship in which Frost Bank has continually expanded its Savision product coverage, bringing all of the bank’s IT and performance monitoring capabilities into a single dashboard. Savision is a wholly owned subsidiary of Martello.

A chartered bank in Texas with more than 140 locations, Frost Bank resolves problems on their IT network faster with the help of Martello’s Savision software. Rather than managing their network using multiple tools, each with their own logins and alerts, they have a single pane of glass in which data and alerts from these tools is consolidated. This reduces alert noise and allows Frost Bank to deploy the correct resources quickly to resolve problems faster. Frost Bank initially integrated its SCOM (System Center Operations Manager) monitoring system with Savision, and has since integrated SolarWinds NPM, CA Application Performance Management and Derdack Enterprise Alert into a single dashboard using Savision IQ.

In 2018, Martello has executed on acquisitions, organic growth, a public listing and received numerous awards. On November 2, the company announced the completion of its acquisition of Savision, after having acquired SD-WAN player Elfiq Networks in December 2017. The Company’s solutions have also been recognized by the industry. In October, Martello received the Outstanding Information & Communications Technology Company (ICT) Recognition Award from IEEE.  In September, Martello was recognized with a Frost & Sullivan Leadership Award for NPM (Network Performance Management) and ranked as Ottawa’s Fastest Growing Company on the Growth 500 list of Canada’s Fastest Growing Companies at No. 28. The Company’s listing on the TSX Venture Exchange (TSXV) followed the closure of an oversubscribed $7.5 million private placement in June 2018. View the complete list of Martello Awards.

Martello Technologies Group Inc. announced today that it has been selected alongside six other promising Canadian technology companies to participate in the BlackBerry/L-SPARK Accelerator Program. Spanning more than six months and focused on intensive, one-on-one, training, the accelerator program is designed to bring new products to market using BlackBerry QNX technology.

As part of the new accelerator program, BlackBerry will help Martello research and develop network solutions that deliver high performance services on the increasingly complex networks created by the Internet of Things (IoT). According to Gartner, in its December 2017 report, Forecast: Internet of Things — Endpoints and Associated Services, Worldwide, 2017, the global IoT market will reach 25.1 billion endpoints by 2021, with total spending on endpoints and services reaching $3.9 trillion in 2021. From autonomous vehicles to smart cities, real-time IoT applications create network complexity, and Martello’s technology can help manage network resources, capacity and performance for these real-time IoT applications.

Martello’s proven solutions, already deployed in more than 150 countries around the world, continue to be recognized by industry. In October, the company received the Outstanding Information & Communications Technology Company (ICT) Recognition Award from IEEE, and in September, Martello was recognized with a Frost & Sullivan Leadership Award for NPM (Network Performance Management) and was also ranked as Ottawa’s Fastest Growing Company on the Growth 500 list of Canada’s Fastest Growing Companies. In August 2018, the company received theINTERNET TELEPHONY SD-WAN Product of the Year Award, and in June 2018 Martello debuted on the Branham 300 listing of Canada’s top ICT companies.

Martello Technologies Group Inc. was recently named a recipient of the Employees’ Choice Awards 2018-19. This is the third time Martello has been recognized with this award, which is designed to identify, recognize and honour the best places of employment in the National Capital Region

This annual competition is organized by the Ottawa Business Journal, theOttawa Board of Trade and sponsored by Meldrum Horne & Associates. The recipient companies were celebrated at a cocktail awards reception on Thursday, December 6th at Marshes Golf Club. They will also be profiled in OBJ’s January 2019 issue. This survey and awards program was designed to identify, recognize and honour the best places of employment in the National Capital Region, benefiting the region’s economy, its work force and businesses. The Employee’s Choice Awards list is made up of a total of 10 companies.

As demonstrated in the Board of Trade’s recent report, “Skilled Labour Shortages, Immigrants and Hidden Talent,” 63 percent of respondents in the 2018 Ottawa Business Growth Survey reported that talent acquisition and retention is one of their most important business issues.

Organizations from across the region entered the survey process to determine the list of recipients. The survey process consisted of an employee survey to measure the employee experience. The scores determined the top organizations and the final ranking. Best Companies Group managed the overall registration, survey and analysis process and determined the final rankings.

For more information on the Employees’ Choice Awards program, visit www.employeeschoice.ca.

Martello Technologies Group Inc. has released financial results for the second quarter of its 2019 fiscal year, including the three and six months ended September 30, 2018.  This is the first time Martello has released earnings since going public on the TSX in September 2018.

Q2 Highlights

• Reported three and six month revenues of $2.0 million and $3.9 million, representing a year-over-year increase of 92% and 86% respectively. This included organic growth of 21%, from increased network performance management software revenues.
• Gross margin was stable at 93.6% for the three months ended September 30, 2018, compared to 93.4% for the corresponding quarter in the 2018 fiscal year.
• Martello’s revenue base continued to diversify in this reporting period, with 67.9% of revenues from network performance management software, a decrease of 32% from the corresponding quarter in the 2018 fiscal year.
• Adjusted EBITDA, which assesses operating performance before the impact of costs associated with acquisition activity and other non-cash costs, amounted to a loss of $343,298 for the three months ended September 30, 2018 compared to income of $17,114 for the corresponding quarter in the 2018 fiscal year.

The Company is well positioned for future growth. Access to public capital markets following the completion of Martello’s reverse takeover (RTO) transaction in this reporting period will fuel new growth opportunities with future merger and acquisition activity. The announced acquisition of Dutch-based software company, Savision on November 1, 2018 is intended to accelerate recurring revenues and provide opportunities to grow Martello’s European sales.

Coding for Veterans announces the official launch of the program and is honoured for the opportunity to take part in the TSX Market Open at the Toronto Stock Exchange (TSX) on Friday November 23rd.

Employers are literally lining-up to hire the first grads from this program. Jeff Musson, CEO of Dynamite Network envisioned the Coding for Veterans program one year ago.  Since that time, the program has developed a collaboration with the Toronto Campus of Northeastern University to help veterans’ transition to the civilian economy.  The outcomes of this industry led program meets an urgent need for cyber security and data analytics expertise in the Canadian IT industry.

What makes this program unique from other Veteran’s programs is that it focuses on the IT jobs openings and then works back to the individual veterans in order to guarantee that their skill set aligns with the job openings.  This is a simple, but unique approach that has been developed to ensure the program’s success.

Senior industry and government leaders along with veterans and current serving members of the military are showing support to the program.  They will be on hand at the TSX market open to answer questions about the need and opportunity that the Coding for Veterans program provides.

John Proctor, CEO of Martello Technologies Group Inc. the global leading provider of network performance management solutions for real-time communications, will join Coding for Veterans to ring the bell at the TSX. This is the second time that Mr. Proctor will ring the opening bell this year – on September 12, 2018 Martello debuted on the TSX Venture Exchange, the first Ottawa-headquartered tech company to go public on the TSXV since 2015.

Coding for Veterans wants to thank the TSX for the support they have given towards this program. The TSX Market Opens are broadcast live on television and live streamed on YouTube. The event will also be featured on TSX.com and TMX.com, and shared through Twitter and Facebook. www.codingforveterans.com

Martello Technologies Group Inc. accepted two awards from the 2018 Best Ottawa Business Awards (BOBs) for “Deals of the Year: Private Equity” and “Best Business”. The awards were presented at the BOBs gala on Friday, November 16^th at the Westin Ottawa.

The BOB awards were given to more than 23 companies in 25 different categories, recognizing a wide range of organizations from diverse industries at the gala amidst VIPs, celebrities, business and community leaders and more than 700 guests.  These awards are organized by the Ottawa Board of Trade and the Ottawa Business Journal and supported by dozens of sponsors, including lead sponsor, the University of Ottawa Telfer, School of Management. They recognize Ottawa’s top businesses as well as the people behind them, and celebrate the history of innovation & entrepreneurship in the National Capital Region.

“We are honoured to recognize Martello as the recipient for ‘Deals of the Year: Private Equity’ and ‘Best Business’,” said Ian Faris, President and CEO, Ottawa Board of Trade. “They demonstrate visionary leadership, innovative thinking and play a vital role in making Ottawa the best place to live, work, study, play and invest. We are privileged to have them in Ottawa.”

Each year, the BOBs present a unique opportunity to celebrate the incredible successes achieved by local companies. These awards capture the business achievements realized across sectors from technology to tourism and disciplines from sales to human resources.  Ultimately, the BOBs create a sense of excitement and momentum in Ottawa’s local economy.

Martello maintains a positive track record in acquisition activity. In November, the company announced the completion of its acquisition of Savision, after having acquired Elfiq Networks in December 2017 and Netvitesse in 2014. The Company’s listing on the TSX Venture Exchange (TSXV) in September followed the closure of an oversubscribed $7.5 million private placement in June 2018.

Additionally, the Company’s solutions have continued to be recognized by the technology industry. In November, Martello was awarded the 2018 Outstanding Information and Communications Technology (ICT) Recognition Award from IEEE Ottawa. In September, Martello received a Frost & Sullivan Leadership Award for NPM (Network Performance Management) and ranked as Ottawa’s Fastest Growing Company on the Growth 500 list of Canada’s Fastest Growing Companies, and in June Martello debuted on the Branham 300 listing of Canada’s top ICT companies.

Martello Technologies Group Inc. announced today the appointments of Mike Galvin and Jennifer Camelon to its board of directors. Mr. Galvin is a telecommunications industry leader with more than 32 years’ experience in BT PLC, who has been responsible for the design, deployment and management of some of the largest broadband networks in the UK. Ms. Camelon is a technology industry finance and business executive with experience leading global transformation and integration initiatives for organizations such as QNX and the Royal Canadian Mint. All current Directors remain on Martello’s Board. These appointments bolster Martello’s leadership team following the Company’s acquisition of Savision, as Martello continues to execute on its ‘build and buy’ growth strategy.

Mr. Galvin has been responsible for the design, deployment and management of some of the largest broadband networks in the UK. As Managing Director in BT PLC, Mr. Galvin led key national initiatives including the rollout of BT’s fibre network, and the nationwide delivery of high-speed internet for the UK. Mr. Galvin has led BT’s internationally respected research division. A telecommunication engineer and specialist in broadband networks he has 32 years of industry experience, working at board level, with governments and in leadership positions in technology, innovation and research. Mr. Galvin brings extensive technology program leadership experience and delivery of large infrastructure projects in both the public and private sectors.

Currently the interim president and CEO of the Royal Canadian Mint, Ms. Camelon is a seasoned finance and business leader. Previously Chief Financial Officer of QNX Software systems, Ms. Camelon also led the IT, operations and quality functions. Ms. Camelon was the primary corporate representative to QNX’s parent companies including Research in Motion. In addition to her responsibilities at QNX, she regularly undertook special projects and additional responsibilities in support of BlackBerry’s transformation efforts. Prior to QNX, Ms. Camelon worked for Delta Hotels and Resorts as well as Price Waterhouse in both Toronto and Ottawa. Ms. Camelon is a Chartered Professional Accountant (CPA, CA) and holds a Bachelor of Commerce (Honours) from Queen’s University. In 2005 the Ottawa Business Journal recognized Ms. Camelon as one of the Top 40 under 40.

Martello has a positive track record in acquisition activity. On November 2, the company announced the completion of its acquisition of Savision, after having acquired SD-WAN player Elfiq Networks in December 2017 and Netvitesse in 2014. The Company’s solutions have been recognized by the industry. In September, Martello received a Frost & Sullivan Leadership Award for NPM (Network Performance Management) and ranked as Ottawa’s Fastest Growing Company, at No. 28 on the Growth 500 list of Canada’s Fastest Growing Companies. The Company’s debut on the TSX Venture Exchange (TSXV) followed the closure of an oversubscribed $7.5 million private placement in June 2018.

Martello Technologies Group Inc. a leading provider of network performance management solutions for real-time communications has announced that it has closed a financing with Royal Bank of Canada (RBC) for new loan facilities through its subsidiary Martello Technologies Corporation. The financing includes a term loan of $3 million, in conjunction with the acquisition of Savision B.V.

This new financing is comprised of a term loan, a revolving facility and other ancillary facilities. The term loan of $3 million bears an interest rate of 5.40% per annum and is repayable over a term of 36 months. The revolving facility, in the amount of up to $1 million, bears a variable interest rate based on the RBC prime rate and is repayable on demand.

The facilities are secured by a general security agreement on the property of Martello Technologies Corporation, a subsidiary of the Company, as well as secured guarantees from five other subsidiaries of the Company and the Company itself.

Recent acquisition activities for Martello include the acquisition of Savision B.V. in October 2018, after having acquired Elfiq Networks in December 2017 and Netvitesse in 2014. The Company’s solutions have also been recognized by the industry.  In September, Martello received a Frost & Sullivan Leadership Award for NPM (Network Performance Management) and ranked as Ottawa’s Fastest Growing Company, at No. 28 on the Growth 500 list of Canada’s Fastest Growing Companies. The Company recently went public with a TSXV listing, following the closure of an oversubscribed $7.5 million private placement.

Martello Technologies Group Inc. accepted the “2018 Outstanding Information and Communications Technology Company” Recognition Award from IEEE Ottawa. The award was presented at the 74th Annual IEEE Ottawa Section AGM and Banquet on Friday, October 19^th at the Shaw Centre.

IEEE Ottawa Section presents the IEEE Ottawa Section Awards annually as recognition for its members, volunteers, chapters, affinity groups and student branches to provide recognition and appreciation for the industry and organizations.

The Outstanding Technology Company Recognition Award recognizes an industry or organization that has made an outstanding contribution to science, engineering, and technology. Awards are given in the following three categories: Outstanding Information & Communications Technology Company Recognition Award, Outstanding High Technology Company Recognition Award, and Outstanding Clean Technology Company Recognition Award.

The Award Committee selects the winners for the “IEEE Ottawa Section Outstanding Technology Company Recognition Award” based on innovation and patents, products and technology, benefits and services for the region, province, and country, employment and market driven strategy for the local and international industry.

More than 5,000 businesses and government organizations are already benefiting from Martello’s solutions in 150 countries around the world, and Martello’s proven solutions continue to be recognized by the industry. In September, the company received a Frost & Sullivan Leadership Award for NPM (Network Performance Management) and ranked as Ottawa’s Fastest Growing Company on the Growth 500 list of Canada’s Fastest Growing Companies. In August 2018, the company received the INTERNET TELEPHONY SD-WAN Product of the Year Award, and in June 2018 Martello debuted on the Branham300 listing of Canada’s top ICT companies.