Moody's Investors Service 21 Sep 2017 Credit Opinion West Corporation: Update of Rating Factors Following Ratings Confirmation. West Corp said it had accepted an offer for all outstanding shares in its common stock for $23.50 a share in cash from funds managed by affiliates of Apollo, according to an announcement late on Tuesday night. After completing the CAPTCHA below, you will immediately regain access to www.streetinsider.com. The company said the purchasing price represents a premium of about 17.5 per cent over West Corp’s closing price on November 1, when the infrastructure company announced it would be exploring strategic and financial alternatives. West helps its clients more effectively communicate, collaborate and connect with their audiences through a diverse portfolio of solutions that include unified communications services, safety services, interactive services such as automated notifications, telecom services and specialized agent services. They are: Scott Etzler, president of Unified Communications Services since 2003; Jan Madsen, CFO and treasurer since 2014; David Mussman, executive vice president, general counsel and secretary since 2001; and David Treinen, executive vice president of corporate development and planning since 2007. The company's stock is … ‘It Is Tremendously Satisfying:’ Sumo Logic Stock Soars Upon Going Public, Cisco Partner Experience Platform Will Cut 100-Plus Separate Tools, Poly Partners: ‘Unifying’ Platforms, Device as a Service The Next Frontier For UC Opportunities, ePlus CEO Mark Marron: Solution Providers Key To Helping Customers ‘Navigate The Next’, IGEL, Pax8: Scale Is Being ‘Redefined’ As Virtual Partner Training Booms. For more information, please call 1-800-841-9000 or visit www.intrado.com. Intrado, formerly West Corporation is an American telecommunications company. All Rights Reserved. If any of the four executives stays with West Corp. for more than two years after the deal closes, their payout would drop to somewhere between $1.4 million and $3.5 million. It was founded in 1990 by Leon Black, Josh Harris, and Marc Rowan. West has sales and operations in the United States, Canada, Europe, the Middle East, Asia Pacific and Latin America. West Corp's top executives and directors could earn as much as a combined $84.5 million in stock, option and severance payouts if the proposed acquisition by Apollo Global Management goes through. Matthew Nord, senior partner at Apollo, said: West is the leader in global conferencing and collaboration services, and is well-positioned to capitalize on customer migration to cloud-based solutions and continue to grow its Safety Services, Interactive Services and Health Advocate Solutions businesses. The Company has also realigned its operating segments to strengthen the strategic positioning of Intrado’s businesses, products and solutions, maximizing opportunities for synergies and growth. Communication and network infrastructure provider West Corp has agreed to a $5.1bn buyout from private equity group Apollo Global Management. West Corporation is a leading provider of technology-driven, voice-oriented solutions. West Corporation, a global provider of communication and network infrastructure services, has announced it has entered into a definitive agreement with affiliates of certain funds managed by affiliates of Apollo Global Management, LLC pursuant to which the Apollo funds will acquire all of the outstanding shares of West common stock. Life & Safety provides mission and life critical communications and includes: Enterprise Collaboration provides foundational business connections, and is comprised of: Digital Media advances the way companies communicate with their employees, customers, investors and the media and is the combination of numerous synergistic businesses acquired in the last year, including: Health & Wellness, previously called Specialized Agent Services, now excludes the Revenue Generation business, divested on January 1, 2019. Wachtell, Lipton, Rosen & Katz is acting as corporate counsel to Apollo and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as financing counsel to Apollo. Communication and network infrastructure provider West Corp has agreed to a $5.1bn buyout from private equity group Apollo Global Management. Get alerts on fastFT when a new story is published. This transformation has accelerated recently with the divestiture of its last call center business and the completion of several acquisitions that have reshaped the Company. On May 9, 2017, West announced that West and certain affiliates of the Apollo Funds had entered into a merger agreement whereby upon completion of the transaction, West … Apollo had assets under management of approximately $232 billion as of June 30, 2017 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. West Corp. has been acquired by an affiliate of Apollo Global Management in a transaction valued at about $5.1 billion. See reviews, photos, directions, phone numbers and more for West Corporation locations in Apollo Beach, FL. NEW YORK and OMAHA, Neb., Oct. 10, 2017 (GLOBE NEWSWIRE) -- West Corporation (“West” or the “Company”) (Nasdaq:WSTC), a global provider of communication and network infrastructure services, and affiliates of certain funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (NYSE:APO), a leading global alternative investment manager, today announced the successful completion of the previously announced transaction, whereby affiliates of the Apollo Funds acquired all of the outstanding shares of West common stock for $23.50 per share in cash. © 2020 GlobeNewswire, Inc. All Rights Reserved. For 30 years, West has provided reliable, high-quality voice and data services. Apollo Global Management, Inc.,is a global alternative investment manager firm. You reached this page when attempting to access https://www.streetinsider.com/Corporate+News/West+Corporation+%28WSTC%29+to+be+Acquired+by+Apollo+Global+for+%2423.50+Per+Share/12882814.html from 126.96.36.199 on 2020-10-30 17:21:54 UTC. For more information about Apollo, please visit www.agm.com. We are a publicly traded business development company and benefit from our affiliation with Apollo Global Management, Inc., a leading global alternative investment manager. “We believe this transaction achieves our goal of maximizing value for West stockholders and positions the Company for continued success. Intrado, formerly West, develops innovative cloud-based technology to make it easier, more effective and more efficient to make the right connections. If any of those four executives stays with West Corp. for more than two years after the deal closes, their payout would drop to somewhere between $9,000 and $2.2 million. Apollo values our team, assets and vision for the future. Those three divisions combined to deliver revenue of $225.5 million last quarter. More than 60 percent of the company's business came from its unified communications and telecom practices, which saw sales drop 3.2 percent to $351.1 million amid fierce price competition from its peers. Tom Barker – West Corp's CEO and chairman of the board since March 2008 – could receive a payout of as much as $28.4 million, while Nancy Berger – West Corp's president and chief operating officer since January 2004 – could receive a payout of up to up to $15.8 million. IT channel news with the solution provider perspective you know and trust sent to your inbox. On May 9, 2017, West announced that West and certain affiliates of the Apollo Funds had entered into a merger agreement whereby upon completion of the transaction, West stockholders would be entitled to receive $23.50 per share in cash in exchange for their shares of West common stock. The West Board of Directors has unanimously approved the agreement with the Apollo funds and recommends that West stockholders vote in favor of the proposed transaction. Global Headquarters Apollo Global Management, Inc. 9 West 57th Street, 43rd Floor New York, NY 10019 +1 (212) 515-3200. Intrado’s innovative, cloud-based technology makes it easier, more effective and efficient to deliver connections that count in this increasingly complex world. We believe strongly that the transaction we are announcing today is the best outcome for our stockholders, employees and customers.”, “We are extremely excited for our funds to acquire West,” said Matthew Nord, Senior Partner at Apollo. The next pandemic: where is it coming from and how do we stop it? Apollo Global Management, Inc., is a global alternative investment manager firm. West Corporation Acquired by Apollo Global Management. Apollo Investment Corporation (NASDAQ: AINV) is a leading specialty finance company that provides customized financing solutions to private middle market companies, primarily in the United States. Find 909 listings related to West Corporation in Apollo Beach on YP.com. Apollo is headquartered in New York City, with offices across North America, Europe and Asia. West’s offices in Appleton, Wausau, Green Bay … As a result of the transaction, West common stock will no longer trade on the Nasdaq Stock Market and will be delisted. Please contact us here http://www.streetinsider.com/signup_content.php. They are: Anthony DiNovi, Thomas H. Lee Partners co-president; Laura Grattan, Thomas H. Lee Partners principal; and Michael Huber, Quadrangle Group LLC managing principal. West Corp's 16 top executives and directors could earn as much as a combined $84.5 million in stock, option and severance payouts if the proposed acquisition by Apollo Global Management goes through. If you are interested in www.streetinsider.com content, APIs are available. Dave PleissInvestor RelationsDMPleiss@west.com402-716-6578, KKR's third-quarter earnings rise on capital market strength, Shares of Banks and Lenders Move Higher -- Financials Roundup, BANK OF NEW YORK MELLON CORPORATION (THE), Co-President & Chief Investment Officer-Credit, Products that support public safety: Carrier Services, Next Generation 9-1-1, government solutions and advanced services, Notifications for Healthcare, Education and Utility, which are aligned with the mission of providing life critical communications, Telecom, providing cloud-based communications platforms, including the Flowroute acquisition, Traditional conferencing and collaboration, including automated on-demand audio and operator assisted audio, in addition to web conferencing, The webhosting, webcasting and public relations businesses acquired from Nasdaq, including GlobeNewswire, INXPO’s state-of-the-art streaming platform, The newly acquired Notified business, provider of cloud-enabled media, monitoring and measurement tools, The commercial component of the prior Interactive Services segment, inclusive of the AVOKE and Ambassador acquisitions, which provides one- and two-way client communications, Health Advocate, which provides millions of Americans the ability to navigate, simplify and personalize the healthcare experience by using our data-driven health insights and our expert professional staff, Claims Recovery, which helps health insurance payers, third-party administrators and self-insured organizations improve cash flow and claims payment accuracy. Apollo Global Management, Inc. 3 Bryant Park New York, NY 10036 +1 (212) 515-3200. The look on your faces tells me all I need to know!’, The Colorado ski resort with no crowds, no queues — and no lifts. [RELATED: Private Equity Strikes Again: Apollo Global Management To Buy West Corp For Enterprise Value of $5.1B]. The remaining three West Corp. board members will not receive any payout when Apollo takes over. The deal is expected to close in the second half of 2017 subject to regulatory approvals. Apollo shares our vision to continue to advance West’s position as a leading technology services business.”. Four other West Corp. executives are slated for payouts of between $6 million and $8 million. “West is the leader in global conferencing and collaboration services, and is well-positioned to capitalize on customer migration to cloud-based solutions and continue to grow its Safety Services, Interactive Services and Health Advocate Solutions businesses.
Adidas Performance Tensaurus Shoes, Anne Baxter Cause Of Death, How Tall Was Lincoln's Wife, Tokyo Sushi Mannheim, Sailing Boat For Sale, Kokoro Gyoza Calories, Mark O'meara Attorney, Dustin Johnson Weight Loss, Debt Dynamics Definition, Marriage Will Bring A Man Nothing But Sweet Violets, Corner House,