Intrado's safety business connects citizens with public safety answering points as well as first responders
US-based investment firm Stonepeak has entered into a definitive agreement with Intrado to buy the latter’s safety business, a provider of critical public emergency telecommunications services, in a deal worth $2.4bn.
Intrado, which is an American telecommunications company, will retain its digital workflows unit, a part of the life and safety segment.
For more than four decades, Intrado’s safety business is said to have been serving as the foundation for 911 infrastructure in the US. It connects citizens with public safety answering points (PSAPs) as well as first responders.
The business is claimed to deliver highly important emergency data over a standards-based network that caters to 2.5 billion telephone numbers, 3.1 million wireless sites, and 13,600 PSAP seats. It also has a cloud and datacentre presence across the US and Canada.
Intrado president and CEO John Shlonsky said: “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.
“I remain excited about Intrado’s future given Digital Workflows, Notified, and Mosaicx are industry leaders in each market they serve.”
According to Intrado, the investment in the safety business by Stonepeak builds upon the latter’s experience in investing in businesses across the digital infrastructure and communications landscape around the world.
Stonepeak senior managing director James Wyper said: “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.”
“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 deal, which is subject to regulatory approvals and other conditions, is anticipated to close in Q1 2023.