Private equity firm GTCR will buy Inteliquent for $800 million.
After the deal closes, Inteliquent will be merged with a subsidiary of Onvoy LLC. The combined company intends to continue to maintain a significant presence in Chicago.
“Over the past several quarters, Inteliquent has been transforming its business to become a leader in the next-generation communications services market,” said Matt Carter, Inteliquent’s CEO. “The acquisition of Inteliquent by GTCR and Onvoy validates our ‘growth forward’ strategy. We believe this transaction will deliver immediate, significant and certain cash value to our stockholders while creating a market-leading provider.”
“We are excited to partner with the Inteliquent and Onvoy management teams to create a leading provider of communications enablement solutions,” added GTCR managing director, Lawrence Fey. “The combination of Inteliquent and Onvoy is transformational and creates an entity that is well positioned to provide robust next-generation solutions to the communications enablement market.”
“Inteliquent’s commitment to the core switching infrastructure has earned the trust of the nation’s top carriers,” said Fritz Hendricks, CEO of Onvoy. “We believe this will lead to additional opportunities for other carriers to partner with Inteliquent to outsource network infrastructure and achieve cost savings without sacrificing quality and reliability. We look forward to working with the Inteliquent team to continue the network expansion and to empower innovation for our shared customer base.”
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