International Telcom to Acquire Magna5's Telecom Business
With new business services and infrastructure, International Telcom's tracking and analytics platform will better serve enterprise customers looking for secure cloud-based solutions
MAHWAH, N.J., Aug. 10, 2021 /PRNewswire-PRWeb/ -- International Telcom LLC ("ITL"), a leading provider of data analytics and call routing technology, has signed a definitive purchase agreement to acquire the telecom business of Magna5, a NewSpring Holdings platform company.
The closing of the transaction is subject to FCC and state regulatory approvals and is expected to occur in the fourth quarter of this year. The business being acquired by ITL includes Magna5's nationwide switching and routing platforms with over 3,000 customers in the government and enterprise space.
The acquisition greatly enhances ITL's network and customer profile. ITL's product offerings will now expand to include UCaaS (Unified Communications as a Service), Hosted PBX, Internet access, and other enhanced services. ITL will add Troy, N.Y., Seattle, Dallas, and San Antonio offices to their existing locations in California, New Jersey, and Washington. The combined company will have switching and routing facilities in California, Florida, New Jersey, New York, Texas, and Washington.
As part of its strategy, ITL will deploy new switching facilities with Ribbon's Sonus 7000 platform and Microsoft's Metaswitch in a geographically-redundant architecture. In addition, the company will add to its Velo Cloud infrastructure to continue to build on its SD-Wan offering, as well as implement a new state-of-the-art billing system for all its operating companies and customers.
Kevin Alward, CEO of ITL, an industry veteran with over 30 years of operating history in the telecom industry, has a successful history of optimizing and rebuilding software and telecom companies. With the acquisition of Magna5's telecom business, Alward is continuing to build ITL's capabilities and states "I see this acquisition as a perfect fit that enables us to acquire additional telecom service offerings with an attractive customer base, plus the added benefits of providing our existing customer base with UCaaS, SD-WAN, and other voice and data services currently sold by Magna5."
Following the closing of the transaction, Magna5 will focus on building and growing its Managed IT Services business which will retain the Magna5 brand name. Robert Farina, CEO of Magna5, said "We are pleased with the sale of our telecom business to ITL. This transaction will benefit all stakeholders: ITL will gain additional telecom offerings and customers; our telecom customers will benefit from being serviced by an experienced telecom operator; and the Magna5 team will be able to focus efforts on executing our strategy to build a market-leading Managed IT Services business."
When completed, ITL will have over 25,000 customers, process over 6 billion minutes annually, and control the routing of 1.6 million numbers.
Also upon closing, International Telcom will be rebranded under the new name RingSquared and Kevin Alward will continue as CEO. The company looks forward to sharing new and expanded business services as they are further developed during this key transition phrase.
About International Telcom LLC:
International Telcom LLC is a leader in analytics, routing, and business communication services with over 30 years of experience. Brands include Kall8 and Dial800, offering a robust suite of cloud-based VoIP business communication tools, intelligent call data, AI-powered analytics, comprehensive call routing, integrations, and reporting. For more information, visit https://internationaltelcomllc.com/.
About Magna5:
Magna5, a portfolio company of NewSpring Holdings, provides managed IT services, cybersecurity, private and public cloud hosting, backup and disaster recovery and other advanced services to mid-market and enterprise customers nationwide, including leaders within the education, healthcare, government, financial services, manufacturing and other industry segments. Headquartered in Pittsburgh, PA, Magna5 services customers nationally. For more information, visit https://www.magna5global.com/.
About NewSpring Holdings:
NewSpring Holdings, NewSpring's dedicated buyout strategy focused on long-term platform builds, leverages proven operational methodologies to accelerate the growth of family-run and owner-operated companies, creating institutionalized platforms of scale. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.0 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit https://newspringcapital.com/.
Media Contact
Megan Andersen, International Telcom LLC, +1 (800) 342-5800, [email protected]
SOURCE International Telcom LLC
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