Expedient Secures New Investment Sponsor, AMP Capital, To Fund Continued Growth And Expansion Of Its Data Center And Enterprise Cloud Platforms
PITTSBURGH,Oct. 22, 2019/PRNewswire/ -- Expedient, a leading cloud computing and data center infrastructure as a service (IaaS) provider, today announced that global investment management firm AMP Capital, has agreed to acquire the company from its current parent, Landmark Media Enterprises, LLC.
This announcement comes just days after Expedient released news of its Western Expansion, with the deployment of a new, already in production Enterprise Cloud point of delivery platform inPhoenix, Arizona. Expedient had previously been focused primarily in the Northeast and Central U.S., with its 11 fully managed data center locations, complemented by several other strategically located partner facilities.
"This is truly an incredible outcome to our strategic alternatives review process," saidShawn McGorry, CEO of Expedient. "Landmark has been a valued investment sponsor for the last 14 years. AMP Capital has a long-term point of view about the business, very similar to Landmark's. With access to additional capital sources and flexible financing, we stand ready to accelerate the expansion of Expedient Enterprise Cloud solutions to new markets and to offer our loyal clients an even more robust suite of Infrastructure as a Service solutions," added McGorry.
There are no operational changes planned as part of this transaction. The senior management team of Expedient, most of whom have been part of the venture for more than 20 years, will continue in their current capacities. Clients, vendors, partners and other stakeholders, will notice no material changes in their relationships with the company and should expect ongoing excellence as ownership transitions.
"Expedient is a wonderful story and has been a highly valued growth asset in the Landmark family of businesses. We are delighted to have found a partner in this transaction, AMP Capital, that wanted the Expedient team to continue building a great business by offering differentiated solutions to its diverse client base," saidCharlie Watkins, Landmark CEO and former Expedient Chairman.
AMP Capital announced the deal in an earlier press release.Simon Ellis, Partner, Head of Americas, Infrastructure Equity commented: "We've been very impressed with Expedient's performance over the years and we are extremely excited to work with the Expedient management team to enable even more growth and expansion."
The transaction is subject to customary closing conditions and is expected to close before the end of 2019. Landmark is working to ensure that the ongoing operations and new business ventures continue uninterrupted in the interim.
Expedient helps companies transform their IT operations through award-winning cloud infrastructure solutions and managed services including disaster recovery, security and compliance, and more. Named VMware's Americas Cloud Partner of the Year and acknowledged in Gartner's Magic Quadrant for Disaster Recovery as a Service, Expedient's solutions and services ease clients' transition to the cloud, enabling them to focus on strategic business innovation while the Expedient team handles operation of the information technology needed to support it. Expedient's cloud infrastructure is deployed worldwide; Expedient data centers are compliant with a variety of regulatory mandates, including the Health Insurance Portability and Accountability Act (HIPAA) as well as the Payment Card Industry Data Security Standard (PCI DSS). Service Organization Control (SOC) reports are published annually for all locations. Learn more at expedient.com.
About AMP Capital
AMP Capital is a specialist global investment manager with US$140 billion in funds under management as of 30 June 2019 and more than 250 investment professionals. AMP Capital has a heritage and strength in real estate and infrastructure, and experience in fixed income, equities and multi-asset solutions. Its majority shareholder is AMP Limited, which was established in 1849, and is one of Australia's largest retail and corporate pension providers. AMP Capital has a strategic alliance with Mitsubishi UFJ Trust and Banking Corporation, which is also a shareholder.