(Ping! Zine Web Hosting Magazine) – On Thursday, Oak Hill Capital, a private equity firm announced it had acquired web hosting company Intermedia. Former Savvis CEO Phil Koen will also take over as Intermedia’s new CEO.
In a press release on the matter, Intermedia founder Michael Choupak said, “It is very exciting to see Intermedia take this important step to the next level as it aligns itself with great partners to drive further growth.”
The press release went on to say, “Intermedia will continue investing heavily in high-quality 24×7 support, complimentary migration to the cloud, innovative and easy-to-use technology, and always-on operations.”
Intermedia is a leading company in cloud services and specializes in managing Microsoft Exchange Email for thousands of clients.
The final transaction has yet to close, but is expected during the second quarter of this year, according to the press release.