• PR Newswire2 months ago

    Novation Companies, Inc. and Subsidiaries Commence Voluntary Chapter 11 Business Reorganization

    KANSAS CITY, Mo., July 20, 2016 /PRNewswire/ -- Novation Companies, Inc. (NOVC) ("Novation" or the "Company") announced today that it and certain of its subsidiaries filed voluntary petitions for chapter 11 business reorganization in the U.S. Bankruptcy Court for the District of Maryland (Baltimore Division).  Novation's board of directors unanimously determined that a chapter 11 reorganization is in the best interest of the Company and its stakeholders. The process allows Novation and its subsidiaries to continue normal business operations while restructuring the Company's finances and contractual obligations. Novation has significant liquid assets and net operating losses that the Company expects to preserve during the chapter 11 process.

  • Marketwired9 months ago

    Novation to Sell Corvisa to ShoreTel

    Novation Companies, Inc. today announced that it is selling Corvisa LLC to ShoreTel, Inc. . ShoreTel will pay $8.5 million in cash to acquire 100% of the outstanding membership interests of Corvisa. The ...

  • PR Newswire9 months ago

    ShoreTel To Acquire UC Cloud Provider Corvisa

    SUNNYVALE, Calif., Dec. 21, 2015 /PRNewswire/ -- ShoreTel® (SHOR), the leading provider of brilliantly simple hosted phone systems  and unified communications (UC) solutions, today announced it is acquiring Corvisa LLC, a provider of cloud-based communications solutions, from Novation Companies, Inc. (NOVC). Corvisa's open, standards-based application programming interfaces (APIs) and software development kits (SDKs) will accelerate third party application integration within the ShoreTel ecosystem. The addition of Corvisa's SIP trunking to the ShoreTel solution portfolio will position ShoreTel as a SIP trunking provider, unlocking new revenue streams for ShoreTel and its channel partners while delivering simpler transactions for customers.