New York investor buys Intrado safety business
LONGMONT — Stonepeak Partners LP, a New York investment firm that specializes in infrastructure assets, has purchased a business unit from Longmont-based Intrado Inc., a company that makes advanced emergency communications systems for public safety agencies, in a deal valued at $2.4 billion.
Intrado, which is owned by Omaha, Nebraska, West Corp. (Nasdaq: WSTC), has offloaded its safety business but will retain its digital workflows unit, according to a Stonepeak news release.
West was itself bought by an investment firm in 2017 and the whole entity was rebranded as Intrado.
“For more than 40 years, Intrado’s Safety business has been the foundation for 911 infrastructure in the U.S., efficiently connecting citizens with public safety answering points (PSAPs) and first responders,” the release said. “The business delivers critical emergency data over a highly reliable, secure, standards-based network that serves 3.1 million wireless sites, 2.5 billion telephone numbers, 13,600 PSAP seats, and an extensive cloud and datacenter footprint across the U.S. and Canada.”
Intrado’s “contributions to 911 innovation have included creating the first text-to-911 solution, the Emergency Data Broker, and Locate Before Route,” Stonebridge said.
Stonepeak senior managing director James Wyper, in a prepared statement, said, “This marks the beginning of a new chapter for Intrado as the organization furthers its commitment to transforming the public safety industry and enriching infrastructure that helps keep employees, customers, students, and communities safe. We are looking forward to partnering with Intrado’s seasoned team, bringing to bear our firm’s experience as active investors in critical telecommunications infrastructure, to help support its core mission and drive value for its stakeholders.”Intrado landed in Longmont about 20 years ago when the company inked a $43 million, 10-year lease for headquarters space at 1601 Dry Creek Parkway.