Intrado Completes Divestiture of Health Advocate
ISLANDIA, N.Y., June 22, 2021 (GLOBE NEWSWIRE) -- Intrado Corporation (“Intrado” or the “Company”), a global leader in technology-enabled services, today announced it has completed the previously announced sale of its Health Advocate business to Teleperformance. The sale of this business will allow Intrado to further focus on its remaining cloud-based technology and next generation solutions.
The purchase price was approximately $690 million. The net proceeds of the sale which reflect, among other things, the netting of taxes, fees, and expenses relating to the sale, are approximately $591 million. The Company intends to use approximately $350 million of the net proceeds to repay a portion of its outstanding term loans and approximately $100 million to repurchase its 8.50% Senior Notes due 2025 via an asset sale offer. The Company expects to use the remaining net proceeds to reinvest in the business.
Intrado Corporation is an innovative, cloud-based, global technology partner to clients around the world. Our solutions connect people and organizations at the right time and in the right ways, making those mission-critical connections more relevant, engaging, and actionable - turning Information to Insight.
Intrado has sales and/or operations in the United States, Canada, Europe, the Middle East, Asia Pacific, Latin America, and South America. Intrado is controlled by affiliates of certain funds managed by Apollo Global Management, Inc. (NYSE: APO). For more information, please call 1-800-841-9000 or visit www.intrado.com.
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