Intermedia has acquired AnyMeeting.of Irvine, California, to further accelerate the company's UCaaS (Unified Communications as a Service) business.
AnyMeeting has more than one million registered people using its Web conferencing and Webinar services. Those services will be added alongside Intermedia’s current Cloud Voice solution.
In a prepared statement, the company says the deal will be a boon for SMBs and partners as it anticipates its UCaaS offering to be its largest product line in the near future.
“These applications will provide an integrated communication and collaboration experience for Intermedia’s customers to enjoy and for partners to sell, delivering a highly reliable, flexible and scalable UC solution versus other products on the market today,” Intermedia CEO Michael Gold, said in the statement.
Intermedia’s current offering includes around 30 integrated cloud business applications across email, voice, backup and file sharing, productivity, identity and access management, as well as security and archiving which it delivers through more than 6,500 partners.
SMB’s will still have access to the company’s cloud products and features offered by the company, including business email and productivity applications, voice conferencing, Office 365, and Skype for Business.
Financial terms of the deal were not disclosed.
Intermedia's Ownership
Intermedia has plenty of M&A experience -- including the sale of its own business twice. The company opened its doors in 1995 and was acquired in 2011 by private equity firm, Oak Hill Capital Partners. In that time it transformed from a business email and web hosting company to the cloud services provider it is today, tripling its annual revenue to $200 million. The company also managed to triple EBITDA.
That growth was enough to attract Bob Tirva from Dropbox where he was servicing as that company’s corporate controller. He took the mantle of CFO. Tirva wasn’t the only big name attracted to Intermedia though. Eric Martorano left the GM position at Microsoft to become senior VP of worldwide sales at Intermedia. He now serves in the company's chief revenue officer.
Just days after the Martorano announcement, Intermedia made another big splash when it announced it had again been acquired by another private equity firm based out of Chicago, Madison Dearborn Partners (MDP).
At the time of that announcement, Intermedia said it was planning to accelerate growth by investing in its cloud management platform, channel solutions, “and potential acquisitions.”
