This week, private equity firm Madison Dearborn Partners (MDP) acquired cloud business applications provider Intermedia. The terms of the deal are undisclosed.
Intermedia was established in 1995 and is headquartered in California, United States and claims to be a “one-stop shop for cloud business applications” and “the world’s largest independent provider of cloud Microsoft Exchange email”.
MDP acquired Intermedia from its previous shareholders led by American private equity firm Oak Hill Capital Partners. MDP is headquartered in Chicago, Illinois, United States and is said to specialize in investing in a range of industries.
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.
MDP claims to target companies with “outstanding management teams” to achieve “significant long-term appreciation in equity value”.
Zaid Alsikafi, Managing Director at MDP says :
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.