Cloud services and Hosted Microsoft Exchange provider Intermedia has signed an agreement to acquire Telanetix, a provider of cloud-based communications services, for approximately $55 million.
Intermedia, a provider of cloud services and one of the largest third-party providers of hosted Microsoft Exchange services, is planning to acquire cloud-based communications services providers Telanetix for about $55 million, including the assumption of approximately $13 million in net debt and certain liabilities.
With the pending acquisition, Intermedia plans to expand its Office in the Cloud strategy, which includes an integrated suite of cloud services for small and medium businesses. Telanetix does business under the AccessLine brand, and through that, Intermedia will gain about 100 new staff members with experience in providing hosted voice services.
For Intermedia, this will add new cloud-based voice services to its portfolio of cloud services for the cloud. Telanetix's products include a cloud-based business VoIP phone service, a SIP trunking service and modular, cloud-based individualized services. By acquiring Telanetix, Intermedia will also gain a channel partner community that is already well-versed in Telanetix's cloud-based voice solutions.
According to Intermedia, the Telanetix acquisition will position the company as a major provider of cloud voice and hosted PBX services for SMBs in the U.S. The acquisition will also complement Intermedia's existing HostPilot Control Panel and other integrated cloud services.
"We expect that our customers and partners will also benefit from our greater operational, development and financial resources, enabling us to continue with our commitment to deliver services of the highest quality and reliability. And, we plan to continue the expansion of our cloud-based voice products and feature set," said Doug Johnson, Telanetix CEO, in a prepared statement.
Although approved by Telanetix's board of directors, the acquisition is subject to customary conditions to closing, including federal and state regulatory approvals. Still, Intermedia expects the deal to close within six months, so by early summer, the two companies should become one.