SEATTLE--(BUSINESS WIRE)--X5 Solutions, a portfolio company of NewSpring Capital’s dedicated buy and build strategy NewSpring Holdings, which offers a complete suite of custom telecommunications solutions, has reached an agreement to acquire NovaTel Ltd., a national next-generation carrier.
NovaTel, headquartered in San Antonio, Texas, offers voice, network and infrastructure solutions to providers, contact centers, carriers and Fortune 500 enterprises across North America and in Europe, APAC, CALA and EMEA.
The acquisition of NovaTel is the next in a series of strategic expansion activities to advance X5’s position as an integrated national communications company. Earlier this year, X5 acquired Switching Concepts, virtually doubling the company's service offerings and geographic footprint.
“We are thrilled with the unique set of growth opportunities this newly integrated company represents,” said Greg Forrest, CEO of X5 Solutions. “We admire the leaders of NovaTel for their track record in advancing technology and enhancing contact center and carrier services over the course of 15 years. Our companies have a unique cultural compatibility that will work to the advantage of employees, customers and our valued business partners.”
Forrest said the acquisition greatly increases the scope and reach of X5’s services, with NovaTel contributing additional combined points of presence domestically and in Europe, SIP capacity of more than 200,000 ports, expanded cloud-based networking offering and a rapidly growing client base.
According to Michael Parker, COO of NovaTel Ltd., combining the two companies’ complementary products and services creates a full-service communications provider.
“This announcement provides incredible benefits to our customer base as well as to our two organizations,” said Parker. “X5 Solutions gains a robust network and expanded points of presence in the United States, as well as highly talented employees and a premium base of large enterprise customers. NovaTel will benefit from X5’s strength in the business class voice, data and infrastructure space and its specific expertise serving the government market. It’s an exciting opportunity for everyone moving forward.”
The acquisition is subject to regulatory review and approval and is expected to be completed before the end of 2015.
About X5 Solutions
X5 Solutions is backed by more than two decades of experience in the telecom industry. The company has navigated the changing landscape of providers and communication technologies to deliver diverse solutions to private and public businesses, government agencies and wholesale partners across North America. X5 Solutions’ customer-focused approach and ability to leverage carrier diversity to customize solutions has fueled its success. X5 Solutions offers a complete suite of solutions, including Traditional Voice and Data Services, SIP Trunking, Hosted Voice, Conferencing, Unified Communications and Ethernet. For more information, visitwww.x5solutions.com.
About NovaTel Ltd.
As a consistent leader in the telecommunications industry for over 15 years, NovaTel is relied on by application providers, contact centers, carriers and Fortune 500 enterprises across North America, APAC, CALA, and EMEA. NovaTel provides an extensive range of products, industry know-how and eagerness to tackle the most complex and challenging requirements. Our engineering and support teams are telecom experts that take great pride in delivering the industry’s best customer service. NovaTel is headquartered in San Antonio, Texas. For more information, visit www.novatelnetworks.com.
About NewSpring Holdings
NewSpring Holdings, LLC, NewSpring Capital’s dedicated buy and build strategy, focuses on control buyouts and platform builds, targeting profitable, growing companies seeking a financial partner to better assist them in achieving their goals. NewSpring Capital, based in Radnor, Pa., collectively manages more than $1 billion of committed capital supporting more than 100 portfolio companies across its growth equity, control buyout and mezzanine debt strategies. Combining deep operating knowledge with financial and investing expertise, NewSpring Capital provides growing companies the financial resources, advice, network of contacts and strategic partnerships necessary to be successful. To learn more about NewSpring Capital, please visit www.newspringcapital.com.
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Barrett Waller, 918-284-0796