TMCnet News
Platinum Equity to sell Matrix Telecom to Impact TelecomFeb 26, 2013 (Datamonitor Financial Deals Tracker via COMTEX) -- Matrix Telecom, Inc., a provider telecommunication services to consumers and small and medium size businesses, has signed a definitive agreement to be acquired by Impact Telecom, a provider of voice and data communications products and services. Both the companies are based in the US. Currently, Matrix Telecom is a portfolio company of Platinum Equity, LLC, a US-based private equity firm. Concurrently, Impact Telecom has also signed a definitive agreement to acquire all outstanding shares of AmericaTel Corporation. St. Charles Capital, LLC is acting as financial advisor for the transaction. The transaction is expected to close in the second quarter of 2013. Deal Type Private Equity Sub-Category Exit Deal Status Announced: 2013-02-20 Deal Participants Target (Company) Matrix Telecom, Inc. (operates as Matrix Business Technologies) Acquirer (Company) Impact Telecom Deal Rationale The transaction enables Impact Telecom to own and operate a class IV/V VoIP-enabled network forming a mesh of connectivity across major US metropolitan markets. |