Intrado, a telecommunications company owned by Apollo Global Management, is selling its safety business to Stonepeak in a $2.4bn deal (鈧�2.32bn).
Stonepeak said it has agreed to buy Intrado Safety, a provider of critical public emergency telecommunications services in the US.
The investment in Intrado鈥檚 Safety business builds upon Stonepeak鈥檚 experience investing in businesses across the communications and digital infrastructure landscape globally, including data centres, 5G wireless infrastructure, residential broadband networks, and metro, long haul, and subsea fibre, the company said.
James Wyper, Stonepeak鈥檚 senior managing director, said: 鈥淚ntrado鈥檚 Safety business represents an attractive opportunity to invest behind critical telecommunications infrastructure that underpins access to 911, a public good in the US, through its extremely high-quality network, central positioning within the emergency response chain, and long-term customer relationships.
鈥淲e are keen to support the next phase of important work Intrado鈥檚 experienced Safety team is undertaking to further enhance and grow this backbone infrastructure that helps keep employees, customers, students, and communities safe.鈥�
John Shlonsky, president and CEO of Intrado, said: 鈥淚 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.鈥�
Digital Workflows, part of the Life & Safety segment, will be retained by Intrado.
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