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Intermedia To Acquire Telanetix

Cloud services provider Intermedia has acquired Telanetix, a provider of cloud-based communications solutions. The deal is sized at approximately $55 million.

The transaction was unanimously approved by a Special Committee of independent Telanetix directors, and was also approved by the boards of directors of Telanetix and Intermedia.

A portion of the all-cash transaction is expected to be financed through a bank syndicate led by Silicon Valley Bank, Royal Bank of Canada, Churchill Financial, Citibank, and CapitalSource Bank. Additional equity commitments have been provided by Intermedia’s existing investors, which include Oak Hill Capital Partners.

Telanetix is currently a portfolio company of Hale Capital Partners. Stifel Nicolaus Weisel acted as lead financial advisor to Telanetix and Duff & Phelps provided a fairness opinion to the special committee and the board of directors of Telanetix. Holland & Knight is acting as legal advisor to Telanetix. Wilson, Sonsini, Goodrich & Rosati is serving as legal counsel to Intermedia.

The transaction is subject to customary conditions to closing.

Upload: 04-11-13

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