Combined Organization Creates Industry’s Pre-eminent NaaS Provider, Expands Presence in the United States and Internationally
CHICAGO – June 27, 2022— Nitel, a leading next-generation technology service provider, announced today the intent to purchase Garland, TX-based Hypercore Networks. The move represents a first step in Nitel’s inorganic growth strategy that was put in place late last year after international private equity firm Cinven made a significant investment in Nitel. Operating under the Nitel brand, the combined organization will improve Nitel’s overall competitive position.
Both organizations are established Network as a Service (NaaS) providers with synergistic offerings in network, SD-WAN, and security. The companies also share common go-to-market strategies that focus on the channel and wholesale. The acquisition will strengthen Nitel’s footprint in the United States and accelerate international growth. In addition, the move represents an opportunity to add complementary capabilities to Nitel, including Hypercore’s voice solutions and additional SD-WAN platforms.
“As we indicated late last year when Cinven invested in Nitel, we would be actively pursuing inorganic growth opportunities,” said Margi Shaw, CEO of Nitel. “Hypercore is the perfect match for us. While our businesses are similar, we complement each other in a few key areas that create additional value for customers and partners. We are extremely excited about the opportunities this acquisition will bring.”
“We are thrilled to bring Hypercore’s significant strengths and culture to the Nitel family,” said Hypercore co-founder Josh Dickinson. “This sends a strong message to the marketplace as we stake our claim to a leadership position in the NaaS arena. The opportunities for our staff, our customers and our partners are very exciting, and we are eager to be a key part of Nitel’s success moving forward.”
The transaction is pending regulatory approval and is expected to finalize in the coming weeks. Terms of the agreement are not being disclosed.