Wednesday, January 23, 2013

Telanetix Acquired By Intermedia

Bellevue-based cloud communications and telephony provider Telanetix has been acquired by Silicon Valley-based Intermedia, in an all-cash deal worth approximately $55M. Intermedia is a provider of third party, Microsoft Exchange hosting and other cloud serviecs. Intermedia said the buy would give it access to AccessLine, the Teleanetix voice and hosted PBX service. Intermedia said it will add about 100 people form AccessLine to its team as part of the acquisition. As part of the acuqisition, Intermedia said it received an equity investment from Oak Hill Capital, as well as financing from a bank syndicate led by Silicon Valley Bank, Royal Bank of Canada, Churchill Financial, Citibank, and CapitalSource Bank.