STAMFORD, Conn. and PITTSBURGH, Aug. 26, 2019 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ:CHTR) and RDX today announced a definitive agreement under which RDX will acquire and merge with Navisite LLC, a leading provider of managed cloud services.
Within the Madison Dearborn Partners investment portfolio, RDX, a specialized provider of managed IT services, will own and operate the assets including client relationships, employees dedicated to supporting the Navisite business, fixed assets, leases and Navisite-operated facilities.
"With its shared mission, RDX will benefit from Navisite's contributions as a trusted cloud service provider to its clients," said Phil Meeks, EVP and President, Spectrum Enterprise. "As part of our ongoing prioritization and refinement of our portfolio, this divestiture will accelerate the execution of our strategy to serve America's largest businesses and communications service providers as a national service provider of scalable fiber-based technology solutions."
The transaction is expected to close within the next few weeks.
Citi served as lead financial advisor to Charter in connection with the Navisite transaction.
Charter Communications, Inc. is a leading broadband communications company and the second largest cable operator in the United States. Charter provides a full range of advanced residential broadband services, including Spectrum TV® programming, Spectrum Internet®, Spectrum Voice®, and Spectrum Mobile™. Under the Spectrum Business® brand, Charter provides scalable, and cost-effective broadband communications solutions to small and medium-sized business organizations, including Internet access, business telephone, and TV services. Through the Spectrum Enterprise brand, Charter is a national provider of scalable, fiber-based technology solutions serving many of America's largest businesses and communications service providers. Charter's advertising sales and production services are sold under the Spectrum Reach® brand. Charter's news and sports networks are operated under the Spectrum Networks brand. More information about Charter can be found at newsroom.charter.com.
Founded in 1994, RDX is one of the largest independent providers of database infrastructure, data management and cloud management services in North America. The Company provides 24x7 managed services to hundreds of clients, both on-premise and in the public cloud. RDX supports a wide range of cloud environments including Microsoft Azure, Amazon AWS and Oracle DB Cloud; database environments including Oracle, SQL Server, MYSQL, PostgreSQL, DB2 and MongoDB; and operating systems including Windows and all major UNIX/Linux offerings. For over two decades, RDX has helped hundreds of organizations lower support costs while increasing data infrastructure performance and availability. RDX's expert staff of highly-trained professionals is backed by a delivery organization that has continuously improved and enhanced its operations throughout its history. More information is available at https://www.rdx.com.
About Madison Dearborn Partners
Madison Dearborn Partners (MDP), based in Chicago, is a leading private equity investment firm in the United States. Since MDP's formation in 1992, the firm has raised seven funds with aggregate capital of approximately $23 billion and has completed approximately 140 investments. MDP is currently investing out of its most recent fund, $4.4 billion MDCP Fund VII, in businesses across a broad spectrum of industries, including basic industries; business and government software and services; financial and transaction services; health care; and telecom, media and technology services. For more information, please visit mdcp.com.
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SOURCE Charter Communications, Inc.
Charter Corporate Communications, Justin Venech 203-905-7818; Charter Investor Relations, Stefan Anninger 203-905-7955; RDX Corporate Communications, Andy Murphy 978-884-1311