West Completes Sale of Intrado’s Safety Business to Stonepeak

Rhea-AI Summary

West Technology Group, formerly known as Intrado Corporation, has completed the sale of its Safety business to Stonepeak for $2.4 billion. The transaction marks a significant strategic move for West, allowing it to focus on its remaining assets, which include TeleVox, SchoolMessenger, Notified, and Mosaicx. West's CEO, John Shlonsky, expressed confidence in Stonepeak as the right partner for future growth. RBC Capital Markets acted as the lead financial advisor for this deal. Moving forward, West aims to enhance its market position with its remaining industry-leading solutions.

Positive

• Sale of Safety business for $2.4 billion strengthens West's financial position.
• Focus on remaining assets that are leaders in their respective markets.

Negative

• None.

ISLANDIA, N.Y. and NEW YORK, Jan. 31, 2023 (GLOBE NEWSWIRE) -- West Technology Group, LLC (formerly known as Intrado Corporation), a global leader in technology enabled services, and Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, have completed the previously announced sale of Intrado’s Safety business, a market-leading provider of critical public emergency telecommunications services, to Stonepeak for $2.4 billion.

The Intrado name and brand will transition with the Safety business; Intrado Corporation has rebranded its holding company to West Technology Group, LLC (“West”). “We are pleased to complete the sale of the Safety business to Stonepeak. We believe they are the right partners, as infrastructure investors, to help continue to grow and further the Safety business,” said John Shlonsky, President and Chief Executive Officer of West. “We are also excited about West’s future given the remaining assets of TeleVox, SchoolMessenger, Notified, and Mosaicx are all industry leaders in each market they serve.”

RBC Capital Markets acted as lead financial advisor to Intrado/West on the transaction. Intrado/West was also advised by LionTree. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisors to Intrado/West on the transaction.

Simpson Thacher & Bartlett served as legal advisors to Stonepeak on the transaction.

About West Technology Group, LLC

West Technology Group, LLC (formerly Intrado Corporation) (“West”) 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.

West has sales and/or operations in the United States, Canada, Europe, the Middle East, Asia Pacific, and Latin America. West 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.west.com.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $53.4 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy transition, transport and logistics, and social infrastructure. Stonepeak is headquartered in New York with offices in Austin, Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.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,” “will,” “continue,” or similar terminology. These statements reflect only West’s and Stonepeak’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 forward-looking statements speak only as of the date on which the statements were made. West and Stonepeak undertake 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.

Contacts

West
Dave Pleiss
DMPleiss@West.com
402-716-6578

Stonepeak
Kate Beers
Beers@Stonepeak.com
646-540-5225

        

 

FAQ

What is the value of the Safety business sold by West Technology Group?

The Safety business was sold for $2.4 billion.

Who acquired the Safety business from West Technology Group?

The Safety business was acquired by Stonepeak.

What will happen to the Intrado brand after the sale?

The Intrado name and brand will transition with the Safety business.

Which companies are included in West Technology Group's remaining assets?

West's remaining assets include TeleVox, SchoolMessenger, Notified, and Mosaicx.

Who provided financial advisory services for the sale of the Safety business?

RBC Capital Markets acted as the lead financial advisor for the transaction.