- Digital Workflows, part of the Life & Safety segment, will be retained by Intrado
- The transaction is expected to close in the first quarter of 2023
- RBC Capital Markets acted as lead financial advisor to Intrado on the transaction
Stonepeak has agreed to acquire tech company Intrado’s safety business, a provider of critical public emergency telecommunications services, for $2.4 billion. No financial terms were disclosed.
Digital Workflows, part of the Life & Safety segment, will be retained by Intrado.
Intrado is a portfolio company of Apollo Global Management.
“Intrado’s safety business represents an attractive opportunity to invest behind critical telecommunications infrastructure that underpins access to 911, a public good in the U.S., through its extremely high-quality network, central positioning within the emergency response chain, and long-term customer relationships,” said Stonepeak Senior Managing Director James Wyper, in a statement. “We are keen to support the next phase of important work Intrado’s experienced safety team is undertaking to further enhance and grow this backbone infrastructure that helps keep employees, customers, students, and communities safe.”
The transaction is expected to close in the first quarter of 2023.
RBC Capital Markets acted as lead financial advisor to Intrado on the transaction. Intrado was also advised by LionTree. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisors to Intrado on the transaction.
Simpson Thacher & Bartlett served as legal advisors to Stonepeak on the transaction.
Stonepeak has about $51.7 billion of assets under management. Stonepeak is headquartered in New York with offices in Austin, Hong Kong, Houston, London, and Sydney.