Berkshire Partners close to buying cloud networking firm Masergy for more than $900 mn
24 October 2016
US private equity firm Berkshire Partners (not to confused with Warren Buffet's berkshire Hathway) is close to finalising a deal to buy cloud networking firm Masergy from its peer ABRY Partners, for more than $900 million, including debt, Reuters yesterday reported, citing sources familiar with the matter.
Founded in 2000, Masergy had raised $61 million in two rounds of funding from three investors, and was acquired in 2011 by ABRY for an undisclosed sum.
Masergy operates a cloud networking platform that delivers hybrid network, managed security, and cloud unified communication solutions to enterprises worldwide.
The Texas-based company pioneered one of the first global IP/MPLS networks in 2000 that could deliver a pure Ethernet experience to any location worldwide. It has since expanded its offerings and today operates the largest independent global network platform, a fully integrated cloud communications offering, cloud-based security and managed network services.
The company, which helps speed up its customers' networks with software to roll out video, data and voice globally, competes with Verizon, AT&T, British Telecom and Tata Communications, the report said.
Its customers include Amgen Inc, E-Trade, Tesla, Pepsico, Panavision, Cabelas, Tesla, Skadden Dolby and others.