Cloud applications company Intermedia.net, Inc. (Intermedia) has been fully acquired by private equity firm Madison Dearborn Partners, LLC (MDP). Intermedia, which has headquarters in Mountain View, California, United States, was established in 1995. One of the internet’s originals, the company offers a range of products and services including its ‘Office in the Cloud’ business cloud platform. Other offerings include hosted Microsoft Exchange, cloud services and Microsoft Lync and Microsoft SharePoint. Financial aspects of MDP’s acquisition have not been released.
MDP has headquarters in Chicago, Illinois, United States. Its emphasis is investing in companies with “outstanding management teams to achieve “significant long-term appreciation in equity value”. Intermedia’s ability to respond successfully to the encroachment of the cloud onto traditional business services resulted ongoing increases in revenues. MDP will continue to operate Intermedia as a standalone company and its operations will remain in Mountain View. Michael Gold will remain its Chief Executive Officer.
“Our partnership with MDP gives us added flexibility and resources to further strengthen our leadership position,” explained Intermedia’s CEO Michael Gold. “With a shared vision of the future, we plan to accelerate growth through increased investments in our cloud management platform, channel solutions, communities and programs, our J.D. Power-certified support experience, new and existing products, targeted industry solutions, and potential additional acquisitions.”
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