26North Partners today announced that its affiliates have entered into a definitive agreement to acquire Intermedia Intelligent Communications, a leading global provider of AI-powered cloud communications, collaboration and customer engagement solutions, from funds managed by Madison Dearborn Partners.
Today more than 7,500 partners leverage Intermedia’s cloud-native technology to address the communications and collaboration needs of over 150,000 business customers. The migration from aging on-premises phone systems to the cloud has driven strong growth at Intermedia.
Intermedia’s differentiated partner-first model, including its Customer Ownership Reseller (CORE) approach, allows IT providers, MSPs, telcos, and cablecos to purchase, brand as their own, and deploy Intermedia’s cloud communications portfolio while enabling partners to retain ownership of the customer relationship. This approach has helped Intermedia build a fast-growing recurring revenue base underpinned by durable relationships and high customer satisfaction.
As AI continues to reshape how businesses communicate and operate, Intermedia has deepened AI innovation across its platform. The company’s integrated and AI-embedded platform spans unified communications, contact center, archiving and data intelligence, Microsoft Teams integrations, vertical-specific solutions, business email and productivity applications, security and more.
“We are thrilled to partner with Intermedia and pleased to have current management remain as investors in the business. The company has built a leadership position in cloud communications, with innovative products, high-quality service and support, a strong team and a powerful channel partner network,” said 26North Senior Partner and Head of Private Equity Mark Weinberg. “This transaction is another example of 26North’s private equity strategy: investing in growing, market-leading businesses where our platform can contribute meaningfully to a company’s future growth and profitability.”
Intermedia’s CEO, Michael Gold, has led the company for more than a decade. Under Gold’s stewardship, the company has transformed into a communications-focused, partner-driven business, deepened its presence in key vertical industries, including healthcare, legal, education, financial services, and automotive, expanded its international footprint and partner network, and earned a leading reputation for quality and support.
As a result, Intermedia represents a communications business with meaningful scale, generating more than $430 million in annual recurring revenue, delivering 20 percent year-over-year growth in its communications business, and significantly expanding profitability.
26North will bring its operational resources and network to support Intermedia’s expansion. 26North’s Alpha Creation Team will work alongside Intermedia’s management to accelerate value creation across product development, distribution and operations.
Intermedia joins a growing family of companies within 26North’s private equity portfolio, including ArchKey Solutions, AVI-SPL, Bruin Capital, Composition Brands, NEP Group and Onelife Fitness.
The transaction is expected to close in the second quarter of 2026, subject to satisfaction of customary closing conditions.
