AUSTIN, TX, Nov. 27 – One Source Networks (OSN), the managed voice, data and cloud services provider and network partner of choice for large enterprises, announced today an agreement to acquire OuterNet, a cloud managed solutions provider. The transaction is expected to be finalized by year-end 2012.

The acquisition provides OSN with additional managed services, infrastructure and professional services expertise that complement its existing services and capabilities. The transaction includes OuterNet's 10,000 square foot data center in Austin, Texas, which houses customer equipment as well as infrastructure for cloud computing and unified communications offerings. In addition, customers will benefit from an integrated 24/7 onsite Network Operations Center (NOC), to allow for more efficient, premium-quality solution delivery.

"We are very excited about what this acquisition will mean for our customers, and the OSN and OuterNet team members," commented Ernest Cunningham, CEO, One Source Networks. "OSN and OuterNet have worked together for the past three years to deliver managed network services to our enterprise clients. The OuterNet team has a deep level of technical expertise and talent which will be a valuable asset for our customers, and their hands-on, customized approach to enterprise networking meshes perfectly with OSN's. The combined capabilities will allow us to deliver even greater value and innovation to enterprises."

The new data center and associated infrastructure will be combined with OSN's 30,000 square foot Greensboro, NC data center, along with its facilities in Dallas, Chicago, and Los Angeles. The acquisition allows OSN to add business continuity and disaster recovery capabilities, as well as managed hosting and storage to its growing portfolio. These products are particularly significant at present when enterprises are focused on both strategic allocation of IT investments and safeguarding of mission-critical company information.

The announcement follows several years of prominent financial growth and consecutive award wins for OSN such as the 2011 and 2012 Inc. 500 and Internet Telephony Excellence awards. It also builds on the company's commitment to expanding its portfolio to meet customer challenges, as evidenced by two significant recent solution launches -- its Cloud 2.0 architecture and enterprise-class cloud computing portfolio.

Q Advisors, a Denver, San Francisco and Princeton based investment banking boutique firm, acted as exclusive financial advisor to One Source Networks in connection with the transaction. Q Advisors and OSN have been working closely together to devise and implement OSN's global cloud services strategy. Tolarus Capital Advisors, LLC, an Austin based investment banking firm, acted as exclusive financial advisor to OuterNet in connection with the transaction.

About One Source Networks

One Source Networks is a leading provider of innovative, purpose-built communications solutions for the Fortune 1000. Delivering ubiquitous access to cloud-based voice, video, security and computing applications, the company offers customizable, cost-effective, and scalable solutions delivered on its own fully redundant global network infrastructure with interconnection to over 200 best of breed global suppliers. The OSN difference is simplicity, cost reduction and customer service focus that delivers all solutions under one contract, one team and one invoice. One Source Networks is a two-time winner of the Inc. 500 award which highlights America's fastest-growing private companies.

About OuterNet

OuterNet offers a comprehensive range of IT solutions, including business continuity and disaster recovery, data center services, managed network services, and value-added reseller and professional services. Founded in Austin, Texas in 1994, OuterNet takes an end-to-end approach to IT -- full architecture, design, procurement, implementation and continuous management and support of all solutions. The OuterNet commitment to customers is a customized forward-thinking approach that enables enterprises with solutions that meet their unique business needs today and tomorrow.

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Source: One Source Networks