Madison Dearborn Partners (MDP) has completed its acquisition of cloud firm Intermedia.
"Our partnership with MDP gives us added flexibility and resources," said Michael Gold, CEO of Intermedia. "With a shared vision of the future, we plan to accelerate growth through increased investments in our cloud management platform, channel solutions, communities and programmes, our J.D. Power-certified support experience, new and existing products, targeted industry solutions, and potential additional acquisitions."
Zaid Alsikafi, a Managing Director at MDP and Intermedia's new Chairman, said: "Intermedia has been able to successfully capitalise upon the global shift to the cloud and possesses tremendous potential to capture further market opportunities."
Michael Gold remains Chief Executive Officer of Intermedia, and the company's headquarters continues to be in Mountain View, California. Phil Koen, Intermedia CEO until early 2015 and most recently the company's Executive Chairman, will continue in an advisory role to the CEO.
As part of the transaction, Intermedia's shareholders, led by Oak Hill, have sold their stake in the company to MDP and company management. Financial terms of the transaction were not disclosed.