Source: West Corporation
OMAHA, Neb., April 16, 2018 (GLOBE NEWSWIRE) -- West Corporation (“West” or the “Company”), a global leader in technology-enabled services, announced today it has completed the acquisition of the public relations and digital media businesses (“Public Relations Solutions and Digital Media Services”) from Nasdaq (Nasdaq:NDAQ) for approximately $335 million.
“This landmark acquisition further expands West’s position as the leading technology enablement company connecting people and businesses around the world,” said John Shlonsky, CEO of West Corporation. “When I accepted the position to lead West, I did so with the intention of growing our rich product suite and customer base through continued innovation, high-performance service delivery and strategic acquisitions. The addition of Public Relations Solutions and Digital Media Services enhances the diverse portfolio of best-in-class solutions available to our clients and is a significant step toward that goal.”
This acquisition broadens West’s portfolio of communication tools, media intelligence and multimedia services for organizations across all industries. These innovative solutions help enterprises more effectively communicate with their investors, customers and employees through targeted, timely delivery of relevant messaging.
The acquired products and services include:
West and Nasdaq have agreed to an exclusive multi-year partnership, offering eligible Nasdaq-listed clients seamless access to West’s leading press release distribution, web hosting, and webcasting solutions.
“This partnership adds tremendous value and capability for thousands of clients as West continues to deliver and invest in global omni-channel digital media products and services,” said Rob Wechsler, President of West Corporation. “We are extremely confident in our ability to grow and enhance this business.”
Advisors and Financing Providers:
Credit Suisse and LionTree acted as financial advisors to West. Wachtell, Lipton, Rosen & Katz is acting as corporate counsel to West and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as financing counsel to West. Transaction financing was provided by Credit Suisse, RBC Capital Markets, Barclays, Bank of America Merrill Lynch, Citigroup, Deutsche Bank and Goldman Sachs.
About West Corporation:
West Corporation is a leading technology enablement company that connects people around the world, making companies more efficient and improving lives. West helps its clients more effectively communicate, collaborate and connect with their audiences through a diverse portfolio of innovative solutions.
For over 30 years, West has provided reliable, high-quality voice and data services. West has sales and/or operations in the United States, Canada, Europe, the Middle East, Asia Pacific, Latin America and South America. West is controlled by affiliates of certain funds managed by Apollo Global Management, LLC (NYSE:APO). For more information, please call 1-800-841-9000 or visit www.west.com.
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be generally identified by the use of words such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “intends,” “continue” or similar terminology. These statements reflect only West's current expectations and are not guarantees of future performance or results. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include, but are not limited to, the ability to implement the anticipated business plans and achieve anticipated benefits and savings related to this acquisition; competition in West’s highly competitive markets; increases in the cost of voice and data services or significant interruptions in these services; West’s ability to keep pace with its clients’ needs for rapid technological change and systems availability; the continued deployment and adoption of emerging technologies; the loss, financial difficulties or bankruptcy of any key clients; security and privacy breaches of the systems West uses to protect personal data; the effects of global economic trends on the businesses of West’s clients; the non-exclusive nature of West’s client contracts and the absence of revenue commitments; the cost of pending and future litigation; the cost of defending against intellectual property infringement claims; the effects of extensive regulation affecting many of West’s businesses; West’s ability to protect its proprietary information or technology; service interruptions to West’s data and operation centers; West’s ability to retain key personnel and attract a sufficient number of qualified employees; increases in labor costs and turnover rates; the political, economic and other conditions in the countries where West operates; changes in foreign exchange rates; West’s ability to complete future acquisitions, integrate or achieve the objectives of its recent and future acquisitions; and future impairments of its substantial goodwill, intangible assets, or other long-lived assets. In addition, West is subject to risks related to its level of indebtedness. Such risks include West’s ability to generate sufficient cash to service its indebtedness and fund its other liquidity needs; West’s ability to comply with covenants contained in its debt instruments; West’s ability to obtain additional financing; the incurrence of significant additional indebtedness by West and its subsidiaries; and the ability of West’s lenders to fulfill their lending commitments.
These forward-looking statements speak only as of the date on which the statements were made. West undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
At the Company: Dave Pleiss Investor Relations West Corporation (402) 716-6578