Intermedia, a US-based hosting provider backed by phone maker Nokia’s corporate venturing unit, has agreed to acquire Telanetix, a local provider of cloud-based communications backed by Hale Capital Partners, for about $55m.
The purchase price includes $13m in assumed debt and other liabilities. Stifel Nicolaus Weisel acted as lead financial adviser to Telanetix, with law firms Holland & Knight and Duff & Phelps providing legal advice and a fairness opinion, respectively. Wilson Sonsini Goodrich & Rosati was legal counsel to Intermedia.
In April, Nokia Growth Partners invested an undisclosed amount in Intermedia following private equity firm Oak Hill Capital Partners’ acquisition of the hosting exchange provider for an undisclosed sum the previous May.