Intermedia Snaps Up AccessLine in $55M Deal
|Copyright 2014 by Virgo Publishing.|
|Posted on: 01/22/2013|
**Editor's Note: Please click here for a recap of the biggest channel-impacting mergers in Q4 2012.**
Cloud services provider Intermedia is buying Telanetix, which does business as AccessLine Communications.
Intermedia will pay about $55 million, a figure that includes the assumption of around $13 million in debt and liabilities. That purchase price could go down after some adjustments, the company said. Under current conditions, Telanetix's common shareholders should receive about $7.40 per share in cash.
Telanetix is familiar to agents as AccessLine, which specializes in hosted PBX with features such as conferencing and auto-attendant, as well as phone systems and SIP trunking, for SMBs.
Intermedia said joining forces with AccesLine allows it to gain channel traction for its "Office in the Cloud" services. The combination further transforms Intermedia from the largest third-party hosted Exchange provider in the world into one of the biggest suppliers of cloud voice and hosted PBX services for SMBs in the United States, the company said.
As such, AccessLine partners and their customers can expect access to even more cloud services, including hosted Exchange, cloud server, security and data management, said Doug Johnson, CEO of Telanetix and AccessLine.
"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," Johnson added in a press release. "And, we plan to continue the expansion of our cloud based voice products and feature set."
Intermedia said the transaction should close in about six months and that it will bring over about 100 AccessLine employees. The Intermedia and Telanetix boards both have approved the deal, which is being financed by various banks.