Intrado to Divest Flowroute Business
On March 9, 2022, Intrado Corporation announced the sale of its Flowroute business to BCM One. This divestiture is aimed at aligning strategic priorities between the two companies. Flowroute, a cloud-based communications platform, supports rapid voice and messaging service deployment. The net proceeds from the sale will be utilized to repay debt and for general corporate purposes. Financial advisers Q Advisors and LionTree Advisors contributed to this transaction, which underscores Intrado's focus on streamlining operations and enhancing its financial stability.
- Sale of Flowroute business aims to align strategic priorities with BCM One.
- Proceeds from the sale will be used to reduce debt, improving financial stability.
- Potential risks associated with the divestiture, including market uncertainty.
- Dependence on debt repayment may affect future liquidity.
ISLANDIA, N.Y., March 09, 2022 (GLOBE NEWSWIRE) -- Intrado Corporation (“Intrado” or the “Company”), a global leader in technology-enabled services, today announced it has sold the assets of the Flowroute business to BCM One, a leading provider of NextGen Communications and Managed Services for IT leaders and resellers.
Flowroute is a cloud-based communications platform that enables communication service providers, value-added resellers, and enterprises to quickly and easily provision and turn up voice and messaging services for cloud-based operators and migrate premise-based communication systems to VoIP.
“BCM One and Flowroute have common strategic priorities,” said John Shlonsky, President and Chief Executive Officer of Intrado. “We are pleased that Flowroute customers and employees will have an excellent home at BCM One, and that the marketplace has recognized the value of the Flowroute business.”
The Company intends to use the net proceeds of the sale to repay debt and for general corporate purposes.
Q Advisors, a global TMT investment banking boutique, and LionTree Advisors acted as financial advisors and Brownstein Hyatt Farber Schreck served as legal advisor to Intrado on the transaction.
About Intrado
Intrado Corporation is an innovative, cloud-based, global technology partner to clients around the world. Our solutions connect people and organizations at the right time and in the right ways, making those mission-critical connections more relevant, engaging, and actionable - turning Information to Insight.
Intrado has sales and/or operations in the United States, Canada, Europe, the Middle East, Asia Pacific, Latin America, and South America. Intrado is controlled by affiliates of certain funds managed by Apollo Global Management, Inc. (NYSE: APO). For more information, please call 1- 800-841-9000 or visit www.intrado.com.
Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be generally identified by the use of words such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “intends,” “continue” or similar terminology. These statements reflect only Intrado’s current expectations and are not guarantees of future performance or results. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks associated with the Covid-19 pandemic; Intrado’s ability to complete this divestiture; competition in Intrado’s highly competitive markets; increases in the cost of voice and data services or significant interruptions in these services; Intrado’s ability to keep pace with its clients’ needs for rapid technological change and systems availability; the continued deployment and adoption of emerging technologies; the loss, financial difficulties or bankruptcy of any key clients; security and privacy breaches of the systems Intrado uses to protect personal data; the effects of global economic trends on the businesses of Intrado’s clients; the non-exclusive nature of Intrado’s client contracts and the absence of revenue commitments; the cost of pending and future litigation; the cost of defending against intellectual property infringement claims; the effects of extensive regulation affecting many of Intrado’s businesses; Intrado’s ability to protect its proprietary information or technology; service interruptions to Intrado’s data and operation centers; Intrado’s ability to retain key personnel and attract a sufficient number of qualified employees; increases in labor costs and turnover rates; the political, economic and other conditions in the countries where Intrado operates; changes in foreign exchange rates; Intrado’s ability to complete future acquisitions, integrate or achieve the objectives of its recent and future acquisitions; and future impairments of our substantial goodwill, intangible assets, or other long-lived assets. In addition, Intrado is subject to risks related to its level of indebtedness. Such risks include Intrado’s ability to generate sufficient cash to service its indebtedness and fund its other liquidity needs; Intrado’s ability to comply with covenants contained in its debt instruments; Intrado’s ability to obtain additional financing; the incurrence of significant additional indebtedness by Intrado and its subsidiaries; and the ability of Intrado’s lenders to fulfill their lending commitments. Intrado is also subject to other risk factors described in its annual report for the year ended December 31, 2020.
These forward-looking statements speak only as of the date on which the statements were made. Intrado undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
Contact
Dave Pleiss
Investor and Public Relations
DMPleiss@Intrado.com
402.716.6578
FAQ
What did Intrado Corporation announce on March 9, 2022?
How will Intrado use the proceeds from the Flowroute sale?
What is Flowroute?
Who provided financial advice for the Flowroute sale?
What are the strategic benefits of the Flowroute sale for Intrado?
