Stonepeak, a alternative investment firm specializing in infrastructure and real assets, and Intrado Corporation (“Intrado”), a global enabler in technology enabled services, have entered into a definitive agreement whereby investment funds advised by Stonepeak will acquire Intrado’s Safety business, a provider of critical public emergency telecommunications services, for $2.4 billion.
Digital Workflows, part of the Life & Safety segment, will be retained by Intrado.
For more than 40 years, Intrado’s Safety business has been the foundation for 911 infrastructure in the U.S., efficiently connecting citizens with public safety answering points (PSAPs) and first responders.
The business delivers critical emergency data over a highly reliable, secure, standards-based network that serves 3.1 million wireless sites, 2.5 billion telephone numbers, 13,600 PSAP seats, and an extensive cloud and datacenter footprint across the U.S. and Canada.
“I am pleased that the Safety team will continue to advance their vision as part of the Stonepeak portfolio, benefitting from their experience and success in investing in a wide range of digital infrastructure companies over the past decade,” said John Shlonsky, President and Chief Executive Officer of Intrado. “I remain excited about Intrado’s future given Digital Workflows, Notified, and Mosaicx are industry leaders in each market they serve.”
“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. “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 investment in Intrado’s Safety business builds upon Stonepeak’s experience investing in businesses across the communications and digital infrastructure landscape globally, including data centers, 5G wireless infrastructure, residential broadband networks, and metro, long haul, and subsea fiber.
The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals and other customary closing conditions.
