StageAcquired | Acquired
About United Asset Coverage
United Asset Coverage is a provider of maintenance coverage for telecommunications and office equipment. The company has offices in cities across the nation and more than 3,000 client sites including: CB Richard Ellis, FTD, Dial Corporation, Wang Global, Tenet Healthcare, American Foundation for the Blind, Beltone Electronics, First Bank and Hunt Corporation.
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Latest United Asset Coverage News
Jan 21, 2013
United Asset Coverage, Inc. Acquires NextiraOne Subsidiary; Companies Enter Multi-Year Joint Services... -- re> NAPERVILLE, Ill., June 14 /PRNewswire/ -- United Asset Coverage, Inc. Acquires NextiraOne Subsidiary; Companies Enter Multi-Year Joint Services Agreement to Ensure Client Continuity Deal Establishes UAC as Largest Third-Party Telecom Maintenance Company; NextiraOne to Provide Ongoing Service to UAC Clients NAPERVILLE, Ill., June 14 /PRNewswire/ -- United Asset Coverage, Inc. (UAC), a provider of integrated telecommunications and data networking maintenance services, today announced a major expansion as a result of a multi-year joint services agreement with NextiraOne which includes the acquisition of a portion of NextiraOne's enterprise voice maintenance business. The acquisition of that business, through a NextiraOne subsidiary, establishes UAC as the largest third-party maintenance company of its kind, with contractual responsibility for over 5 million corporate desktops throughout North America and Asia. Simultaneously, the agreement calls for NextiraOne field technicians and technical assistance centers to service UAC's entire Nortel client base across North America, including existing UAC clients and clients transitioning from NextiraOne. "This agreement is a milestone because it is the first time that a major national communications service provider is providing services under the UAC umbrella as its core break/fix service strategy," said Patrick Martucci, chairman and CEO of United Asset Coverage. "We set out in 1997 to change the way that corporate America accesses technology maintenance, and this transaction shows that our model is being embraced not only at the corporate level but by the companies who provide the actual services. " Effective June 13, UAC will assume the day-to-day management of voice maintenance services for the transitioning client base which includes 115 companies in the Fortune 500. Approximately 300 employees, including 200 technicians and 100 client care personnel, will move from NextiraOne to UAC to support the transitioning client base. As part of the transaction, UAC also is acquiring a fleet of 100 vans, a parts inventory, a call center operation and a leased facility. NextiraOne will continue servicing its transitioning clients through a related multi-year preferred vendor agreement with UAC that also gives NextiraOne access to UAC's customer base throughout North America. NextiraOne will provide advanced break/fix services on a time and materials basis, allowing the company to focus on service delivery rather than the day-to-day management of maintenance services. Simultaneously, this agreement helps support NextiraOne's strategic evolution to a value-added services and complete solutions model, as illustrated by the recent introduction of its professional and managed services practice. UAC's day-to-day management of the acquired NextiraOne voice maintenance contracts will include alarm monitoring, call receipt, dispatch and billing functions. Those clients that contracted for full-time on-site technicians through NextiraOne will continue to be serviced by the same personnel as before for troubleshooting, repairs, manufacturer escalation, and the majority of Moves/Adds/Changes services. Other clients will have the option to continue using NextiraOne as well. The agreement also gives the transitioning clients the opportunity to consolidate multiple telecom service agreements into a single UAC master agreement covering all corporate locations regardless of the brand of PBX equipment used. Instead of contracting with one provider to maintain Nortel equipment and other providers to maintain other systems, such as Avaya and NEC, clients can now sign a single contract and deal with a single call center to meet all of their voice maintenance needs. "UAC will give clients an easy and cost-effective way to administer PBX maintenance contracts across multiple technology platforms, and that will ultimately save them both time and money," said NextiraOne CEO Dale Booth. "At the same time, this agreement will allow us to focus on providing more advanced solutions, including convergence and information security services, to our clients. Enterprises therefore gain the most value and benefit from two companies that will help them manage their core communication infrastructure efficiently. " About United Asset Coverage UAC is the leading provider of technology maintenance services enabling corporate clients to aggregate their telecommunications and data networking maintenance contracts across all corporate locations and equipment manufacturers. The company's services eliminate the need to source and administer multiple maintenance contracts, allow customers to choose from multiple vendors, and yield significant cost savings. Founded in 1997, UAC is a privately held company with over 40 offices across the country. UAC ranked 24th on Inc Magazine's 500 Fastest Growing Private Companies list in its first year of eligibility, and is also one of Oracle's 300 worldwide E-Leader strategic partners. For more information, visit http://www.unitedasset.com . About NextiraOne NextiraOne North America is a leading enterprise communications services provider that specializes in the delivery of professional, managed and maintenance services for traditional, IP and converged voice and data networks. From information security to IP telephony to contact center applications, NextiraOne offers its client base the complete lifecycle of consultation and solutions development designed to address today's business challenges. With a foundation of telecommunications industry expertise dating back to the 1970s, NextiraOne enjoys a rich history that has been woven from the fabric of Williams Communications Solutions, Milgo Solutions, Racal- Datacom, Timeplex and Executone. For more information, please visit http://www.NextiraOne.com . NextiraOne is owned by Platinum Equity ( http://www.platinumequity.com ), a global acquisition firm specializing in the strategic operation of mission- critical services and solutions businesses according to a unique M&A&O(SM) model of value creation. Company Contact: Debra Gucwa 630/548-6325 email@example.com SOURCE United Asset Coverage, Inc.
United Asset Coverage Frequently Asked Questions (FAQ)
Where is United Asset Coverage's headquarters?
United Asset Coverage's headquarters is located at 215 Shuman Blvd, Naperville.
What is United Asset Coverage's latest funding round?
United Asset Coverage's latest funding round is Acquired.
How much did United Asset Coverage raise?
United Asset Coverage raised a total of $4M.
Who are the investors of United Asset Coverage?
Investors of United Asset Coverage include Shared Technologies, Spectrum Equity and Petra Capital Partners.
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