Hey folks, gather ’round! Word on the street is that the top dogs over at Intermedia Cloud Communications are sniffing around for a sweet deal. The grapevine says they’re thinking of selling, and the price tag? A cool billion bucks, debt and all. Now that’s a chunk of change!
So, who’s behind this whisper of a blockbuster sale? Madison Dearborn Partners, that’s who. With the ever-so-savvy investment bank Evercore by their side, they’re gearing up for what could be the sale of the season. Now, don’t shout it from the rooftops – our little birdies want to keep it hush-hush for now.
But hold onto your hats! Intermedia is shooting for the stars, hoping to get 20 times what they earn in a year – and that’s before all the boring stuff like taxes. We’re talking a nifty $50 million in earnings.
Ring them up, and they’ll play coy. Yep, Intermedia, Madison Dearborn, and even Evercore are staying mum, not spilling the beans just yet.
Now, if you’ve been living under a rock and haven’t heard of Intermedia, let me paint you a picture. Born in ’93, these guys are the go-to for all things cloud communication – think voice calls, video chats, and the like. Based in sunny Sunnyvale, California, they’re the real deal, serving everyone from doc’s offices to retailers.
Speaking of healthcare, Intermedia’s got some fancy friends in the biz. Names like Athenahealth and Cerner pop up, helping clinics and hospitals bridge the gap, especially in these days of virtual house calls.
Got a small biz? Chances are you’ve bumped into Intermedia. They boast a whopping 135,000 SMEs in their corner. And if you’re wondering who had the brains (and cash) to buy them before, it was Madison Dearborn. They snagged Intermedia back in 2017, though the price remains a mystery. Fun fact: Madison Dearborn isn’t a small fish. Born a year before Intermedia, this Chicago powerhouse has backed a staggering 150 companies, raking in about $28 billion. Phew! Talk about making waves.
So, there you have it! Keep an ear to the ground, because this is one story that’s bound to get juicier!