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Oak Hill Capital Partners to Acquire Cloud Services Provider Intermedia

May 27, 2011 by · Comments Off on Oak Hill Capital Partners to Acquire Cloud Services Provider Intermedia 

Webmaster ToolboxNew York, NY – Oak Hill Capital Partners, a leading private equity firm, has entered into a definitive agreement to acquire Intermedia.net, Inc. (“Intermedia” or the “Company”), a global leader in cloud services founded by technology entrepreneur Michael Choupak.  In conjunction with the transaction, Oak Hill Capital also announced that Phil Koen, former CEO of Savvis, Inc., will join Intermedia as Chairman and Chief Executive Officer.  The terms of the transaction were not disclosed.

Since its founding in 1995, Intermedia has been a pioneer in offering secure and reliable cloud-based business-class email, and today is the largest third-party provider of these services to small and mid-sized businesses in the U.S.  The company has continued to innovate and expand its cloud service offerings, growing its user base at an annual compounded rate of 31% over the last four years.  As of April 30, 2011, the company manages an industry-leading 320,000 premium Microsoft hosted Exchange mailboxes. It distributes its suite of services to 38,000 business customers directly and through its 6,800 global channel partners. Read more

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