Cloud Services and Microsoft Exchange Hosting Provider Intermedia to Acquire Cloud-based Communications Solutions Provider Telanetix
Subject to federal and state regulatory approvals, cloud services and Microsoft Exchange hosting provider Intermedia is to acquire cloud-based communications solutions provider Telanetix at an all-cash cost of approximately $55 million (including approximately $13 million in net debt and liabilities, and subject to purchase price adjustments). The deal means Telanetix shareholders will receive a cash payment of approximately $7.40 per share.
The acquisition enables Intermedia to expand its cloud services for small and medium-sized businesses (known as Office in the Cloud™) through AccessLine, Telanetix's suite of cloud-based voice services for the SMB market, which includes VoIP phone/hosted PBX and SIP trunking service. The acquisition includes AccessLine's 100-strong hosted voice services team and means Intermedia is to become one of the largest cloud voice and hosted PBX services providers in the United States.
Telanetix recorded revenues of $31.2 million for year ending September 30, 2012. It also recorded 10.4% growth for the three months ending September 30, 2012 over the same period in the previous year. “Intermedia has become a fast-growing, innovative, and market-leading cloud services platform provider,” says Doug Johnson, CEO of Telanetix and AccessLine. “As such, this transaction will enable our 40,000 customers and partners to have access to an even broader suite of enterprise-grade cloud services, including hosted Exchange, cloud server, security, data management, and more.”
Comment News
| Connect with |  | or |  | or |
|
|
