Intermedia, a cloud business applications provider and an independent provider of cloud Microsoft Exchange email, announced that it has been acquired by Madison Dearborn Partners (MDP), a private equity firm based in Chicago. The terms of the transaction were not disclosed.
Intermedia says that its partnership with MDP will help accelerate its growth through increased investment in its projects, programs, solutions and additional acquisitions.
Phil Koen, Executive Chairman, Intermedia said:
We are proud of the transformation and growth of the company. We now have an annualized revenue run-rate of over $200 million, 75,000 customers, 6,000 active partners and 700 employees around the globe.
The transaction is expected to close this calendar year with Deutsche Bank and J.P. Morgan serving as financial advisors to Intermedia.
Zaid Alsikafi, Managing Director, MDP said:
We are pleased to partner with Intermedia to build upon the company’s momentum and demonstrated track record of growth in the increasingly critical field of cloud-based communications and productivity solutions.