VoIP Provider Telanetix Acquired By Intermedia
The VC-owned Microsoft Gold partner and hosted communications provider, Intermedia, will pay the sum of $55 million to purchase Telanetix, the hosted VoIP and video specialist, according to both companies.
It can be assumed that around $13 million in debt and liabilities is included in the price tag. Around $7.40 per share could be made by Telanetix common shareholders when the acquisition closes.
Hosted PBX, SIP trunking and video services are provided by Telanetix; the AccessLine brand is also a part of this. The services (mentioned) will be offered to both small and medium-sized businesses (SMB). For its fiscal 2012 (which ended at the end of September last year), around $31.2 million was generated in revenue, according to Telanetix.
As a result of this transition, the New York-based Intermedia will be an incumbent PBX provider in the U.S.; this adds to its previous title of being the world's largest third-party provider of hosted Microsoft Exchange services.
Intermedia's HostPilot Control Panel will manage the company's integrated cloud services portfolio which the AccessLine services will also become a part of. Additionally, more than 6,800 channel partners private label Intermedia's services.
The CEO and chairman of Intermedia, Phil Koen, said in a statement: “This transaction enables us to further execute on our Office in the Cloud vision of an integrated suite of cloud services for small and medium-sized businesses and the channels that serve them.”
In 2011, Oak Hill Capital Partners, a venture firm, acquired Intermedia. Silicon Valley Bank, Royal Bank of Canada, and others – including Oak Hill – are assisting in the financing of the Telanetix transaction. Telanetix is a portfolio company of Hale Capital Partners.
Zlago, a cloud services provider, was acquired by Intermedia in 2011.
As customers are increasingly drawn to and start to utililize cloud-based voice, UC and video, M&A activity between hosted communications providers has in recent years become more frequent. Other recent transitions include the acquisition of M5 Networks by ShoreTel in 2012; the former is now ShoreTel's Cloud Division. (CY) Link