Quisitive Technology Solutions Inc., a leading Microsoft Solutions Provider, signed a definitive agreement on March 22 to acquire all of Mazik Global Inc.'s issued and outstanding shares. Mazik Global Inc., headquartered in Chicago, Illinois, is an independent software vendor (ISV) that helps businesses deliver Microsoft CRM, Cloud, and ERP solutions in the healthcare, education, and manufacturing sectors. The terms of the Transaction are outlined in a binding share purchasing arrangement signed at arm's length between the Company, a wholly-owned subsidiary of the Company, and the owners of Mazik. The Transaction is subject to a range of normal requirements, including the issuance of all regulatory approvals and the TSX Venture Exchange's acceptance. On or around April 1, 2021, the transaction is expected to close.
Mazik Global Overview
Mazik has collaborated with Microsoft engineering for nearly two decades, creating flexible, extensible artificial intelligence-driven solutions to help companies reduce costs, improve collaboration, optimize performance, and strengthen customer relationships. Mazik is an original co-developer of the Microsoft Dynamics platform, CDE (Common Data Model), and other collaborative healthcare initiatives. Mazik has built an immensely useful range of IP that supports the healthcare, education, and manufacturing sectors due to these capabilities. MazikCare, which is based on the Microsoft Dynamics platform, offers seamless patient care through a single data platform and a linked front and backend mechanism, enabling its healthcare customers to work more reliably and efficiently.
Mazik also expanded the MazikCare portal to incorporate their VaccineFlow solution, which allows them to distribute vital, mass COVID-19 vaccines across the globe, with over 1 million vaccinations already delivered. MazikCare VaccineFlow simplifies the vaccine distribution process and strengthens the bond between suppliers, patients, and distributors, providing a significant growth potential. Mazik Global was chosen by 1.5 million consumers from counties, healthcare centers, and educational institutions to introduce the MazikCare VaccineFlow application, as it complied with all CDC (Centers for Disease Control and Prevention) requirements, was deployable in two to four weeks, and required minimal user training.
Mazik reported unaudited revenues of approximately US$10.4 million and unaudited adjusted EBITDA of approximately US$2.1 million, or 20%, for the trailing twelve months ended December 31, 2020.
Quisitive is a leading global Microsoft partner that helps businesses transform by using the Microsoft platform and complementary innovations, such as personalized applications and first-party offerings. The company's Cloud Solutions division focuses on assisting companies in moving, operating, and innovating in the three Microsoft clouds. Their Payments Solutions business, which is centered around their LedgerPay software range, uses the Microsoft Azure cloud to turn the payment processing industry into an entirely new source of customer experience and market demand. Quisitive has nine employee centers around the globe that serve clients.