Expedient, a cloud computing and data center infrastructure as a service (IaaS) provider based in Pittsburgh, recently announced that AMP Capital, a global investment management firm, agreed to acquire the company from its current parent, Landmark Media Enterprises, LLC.
“This is truly an incredible outcome to our strategic alternatives review process,” Shawn McGorry, CEO of Expedient, said. “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.”
Expedient also recently announced the deployment of a new Enterprise Cloud point of delivery platform in Phoenix, Ariz. Expedient previously focused primarily on the Northeast and Central United States, with 11 fully managed data center locations and several other strategically located partner facilities.
Expedient noted that the transaction will not involve any operational changes and that the company’s senior management team will continue in their current capacities.
“Expedient is a wonderful story and has been a highly valued growth asset in the Landmark family of businesses,” Charlie Watkins, Landmark CEO and former Expedient chairman, said. “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.”
The transaction is subject to customary closing conditions and is expected to close before the end of 2019.