US-based private equity house Oak Hill Capital Partners has agreed to buy hosting provider Intermedia for an undisclosed sum.
Intermedia, which launched an EMEA-wide white-label cloud channel programme back in February, specialises in hosted email, voice and file-management services.
As part of the deal, Phil Koen, former boss of managed hosting firm Savvis, has been installed as the firm's new chief executive, replacing Serguei Sofinski.
Under the control of its new owners, Intermedia said it intends to widen its cloud services portfolio and pour more investment into its technical support offerings.
Michael Choupak, founder of Intermedia, said: "We are proud to have built this company from a startup to a profitable, major player in the IT hosting industry, with no outside investments.
"It is exciting to see Intermedia take this important step to the next level as it aligns itself with great partners to drive further growth," he added.
Robert Morse, a partner at Oak Hill Capital, said: "We are still in the early stages of a dramatic shift in IT from the corporate premise to the cloud, and Intermedia is in an ideal position to accelerate this shift."
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