GTCR to Buy Inteliquent in $800 Million Private Equity Deal
Inteliquent agreed to an $800 million acquisition by private equity firm GTCR, the acquiree said in a Wednesday news release. Under the deal, Inteliquent -- an interconnection partner for communications providers -- will be merged with Onvoy, a provider of…
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voice, messaging and mobility services. The deal is expected to close in the first half of 2017, subject to FCC, state and shareholder OKs and termination of the Hart-Scott-Rodino antitrust waiting period. “This industry was ripe for consolidation, and while Inteliquent was a natural consolidator with a favorable balance sheet to do so … GTCR should be able to capture additional synergies out of this combination,” Raymond James analysts wrote investors Thursday. The deal follows Broadcom’s $5.9 billion agreement to buy Brocade (see 1611020050).