Azaleos merges with North Carolina's M3 Technology |
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Mass High Tech
Azaleos merges with North Carolina's M3 Technology
Phil Van Etten
Seattle-based Azaleos, which helps corporations more effectively manage email servers, is merging with Charlotte, North Carolina-based M3 Technology Group in a stock-for-stock deal. Azaleos CEO Phil Van Etten will retain the CEO position at the company, which will operate under the name Azaleos. It will employ more than 125 workers.
Founded in 2004 by former Microsoft managers, Azaleos specializes helps organizations run Microsoft Exchange. In addition, it provides customers with email services such as archiving, disaster recovery and mobile device communications. Through the merger, Azaleos says it is now the "leading provider of remotely managed Microsoft Exchange" services.
The merger gives Azaleos an operations center in Charlotte from which to service large customers, which include Chiquita, Extended Stay and Wendy's/Arby's. It also will help Azaleos grow, more than doubling the install base of users while at the same time strengthening services in the unified communications arena.
It offers products for Exchange, Blackberry Enterprise Server and -- through a new product announced today -- Active Directory. Those include ViewXchange for real-time monitoring and reporting of Exchange servers and ProtectXchange, a cloud-based service to prevent email spam and viruses.
Terms of the stock-for-stock deal -- including valuations and equity splits -- were not announced. To date, Azaleos has raised $18 million from Second Avenue Partners and Ignition Partners.
Founded in 2002, M3 Technology raised $6.5 million from Frontier Capital in 2007. Last summer, it raised additional capital after it named Tony Prince as CEO. At the time of the investments, the company had about 100 employees.
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