Intermedia acquired Telanetix, concluding the transaction on August 30, 2013. The deal was valued at $21 million in cash.
| Acquirer: | Intermedia (US) |
|---|---|
| Target: | Telanetix (US) |
| Value: | $21m |
| Type: | Acquisition |
| Closed: | August 30, 2013 |
| Advisors: | Aicardi & Partners (Buy-Side), Allen & Company, Jefferies, ROTH Capital Partners (Sell-Side) |
| Legal Advisors: | Simpson Thacher & Bartlett, Holland & Knight, Wilson Sonsini Goodrich & Rosati, Cooley (Buy-Side); Holland & Knight, DLA Piper (Sell-Side) |
Intermedia closed its acquisition of Telanetix for $21 million in cash. The transaction expands Intermedia’s portfolio of cloud-based communications services.
Deal Mechanics
The deal was structured as a $7.284 per share all-cash offer, which represents an equity value of approximately $21 million for Telanetix. Financial advisors to Intermedia included Aicardi & Partners, Cantor Fitzgerald & Co., Stifel, Hill International, and BofA.
Telanetix was advised by Allen & Company, Jefferies, and ROTH Capital Partners. Legal counsel for Intermedia comprised Simpson Thacher & Bartlett, Holland & Knight, Wilson Sonsini Goodrich & Rosati, and Cooley. The sell-side legal team involved Holland & Knight and DLA Piper.
Strategic Rationale
The acquisition aims to bolster Intermedia’s cloud-based communications services portfolio by incorporating Telanetix’s complementary offerings in unified communications as a service (UCaaS). With this deal, Intermedia seeks to enhance its market position within the rapidly growing business communication space.
Financial Context
Intermedia is positioning itself strategically through acquisitions like Telanetix to drive growth and strengthen its competitive edge in delivering cloud-based communications solutions. The $7.284 per share acquisition price reflects the target’s alignment with Intermedia’s business objectives.