Versature has entered into a definitive agreement to acquire the phone service business of Octopus IP Communications Ltd. Versature's subscriber base will immediately increase by 20% with the addition of these customers.

Adding the Octopus IP client base will enable Versature to accelerate it's already impressive growth, just recently announcing 100% year-over-year subscriber growth for it's Hosted PBX Business services. Former Octopus IP customers will now have access to some exciting new features such as call queues, automated call distribution, smartphone (iPhone, Android) integration and agent login/logout, which were not available to them in the past. Versature's customer base consists of over 300 businesses from across the country.

Versature has added 3 new staff members so far in 2010, and expects to immediately hire additional staff as a result of this transaction. Versature is an excellent example of the good-news telecom story that is percolating in Ottawa, somewhat overshadowed by the break-up of our local fallen giant, Nortel. Surviving and thriving in the Telcom2.0 world requires a greater focus on computer networking expertise as the industry transitions to a more network-centric model. Versature is one of many local firms that are well positioned in that regard.

Versature's president, Mr. Paul Emond, was profiled in the latest edition of "The Business Edge News Magazine", published on October 22, 2010. The article can be found by visiting http://www.businessedge.ca.