Comcast Business signed an agreement to purchase Nitel, a Chicago-based MSP, from international private equity firm Cinven. The acquisition should expand Comcast Business’ presence in connectivity, global secure networking and advanced technology, in addition to enhancing its ability to serve enterprise clients.
This a network-as-a-service (NaaS) provider specializes in delivering advanced managed services and connectivity solutions to enterprise customers across the U. S.. With a focus on high-performance networking, cloud services and cybersecurity, Nitel empowers businesses to optimize their operations and drive digital transformation. Nitel is also known for its customer-centric approach, offering customized solutions that meet client need, enabling them to stay competitive in an evolving digital landscape.
“Nitel is a dynamic player in managed network services, and its addition to our portfolio will strengthen our capabilities in advanced network, cloud and cybersecurity solutions,” said Edward Zimmermann, president, Comcast Business. “With Nitel, we’re poised to deliver even greater value to our customers, empowering businesses with the tools they need to succeed now and in the future.”
Nitel has deep expertise in providing integrated managed network and security solutions to its 6,600 clients, nationwide, with a particularly strong focus on midsize enterprise clients, including financial services, healthcare and education. Adding its solutions and specialized cloud-based services to Comcast Business’ advanced connectivity portfolio is expected to provide further growth opportunity. It will also allow customers to seamlessly, securely and efficiently manage operations and networks.
“I am incredibly proud of our company’s continued growth and momentum, and we are excited to continue to accelerate as part of Comcast Business,” said Margi Shaw, Nitel’s CEO. “Together, we can provide world-class and comprehensive connectivity technologies and services to enterprises of all sizes.”
The acquisition is subject to regulatory approval and other customary closing conditions. As a result, Cinven will sell its stake in Nitel. Financial terms were not published.
“Comcast Business is the perfect home for Nitel and its customers with its innovative and reliable connectivity solutions,” said Cinven senior principal, Daniel Garin. “We are very proud of the success that Nitel has achieved during Cinven’s ownership period. Together, we believe the companies are poised for accelerated growth and success.”
