Exchange Host Intermedia Gets New Owner, CEO
Microsoft Exchange hosting giant Intermedia is going the way of private equity. Oak Hill Capital Partners announced it will acquire Intermedia and appoint former Savvis CEO Phil Koen as chairman and CEO of the New York-based hosting firm which just rolled out a cloud-based backup service this spring.
"We are proud to have built this company from a startup to a profitable, major player in the IT hosting industry, with no outside investments," said founder and majority shareholder in Intermedia, Michael Choupak, in a statement. "We are now the leading independent provider in a rapidly growing market. It is very exciting to see Intermedia take this important step to the next level as it aligns itself with great partners to drive further growth."
Intermedia has relationships with 38,000 small and midsized business customers and 6,000-plus channel partners. Distribution giant also partners with Intermedia as part of the company's cloud offerings. A spokeswoman said the deal will not change the relationship between the two companies and that Ingram Micro views the deal as a positive step towards continued growth for Intermedia.
Founded in 1995, Intermedia currently manages 320,000 premium Microsoft hosted Exchange mailboxes.
The company said in a statement that it will continue to invest heavily "in high-quality 24 by 7 support, complimentary migration to the cloud, innovative and easy-to-use technology, and always-on operations."
Intermedia also plans to expand its cloud-based services through new product introductions and acquisitions, the company said. For instance, Intermedia’s proprietary HostPilot control panel enables customers and channel partners to access a suite of cloud-based products from Exchange to Sharepoint to hosted PBX, archiving, mobility options and more.
"As a pioneer and now significant player in cloud-based IT services, Intermedia has tremendous potential for further growth by delivering more cost-effective solutions to companies whose on-premise IT is moving to the cloud," said Koen. "We intend to build Intermedia into a leading provider of a broad suite of cloud services to SMBs and the channels that serve them, with Microsoft Exchange email as the core service."
The transaction is expected to close during the second quarter of 2011.