Siris to Acquire TPx Communications

Affiliates of private equity firm Siris Capital Group will acquire U.S. TelePacific Holdings (TPx Communications), whose product line includes unified communications, contact center, managed security, managed WAN, managed IT services, and network connectivity solutions, from investors including affiliates of Investcorp and Clarity Partners. Terms of the transaction were not disclosed.

"TPx has created a tremendous growth story over the past decade, and we're going to keep that narrative going strong," said Dick Jalkut, chairman of the board and CEO of TPx, in a statement. "Adding Siris' experience and expertise in the UCaaS and managed IT services markets will make us even better-positioned to build on our award-winning track record of innovation and service quality for the benefit of our customers. With our new partners at Siris, we look forward to building our product portfolio, customer base, and customer satisfaction to new heights as we write the next chapter in TPx's evolution and success."

"For more than two decades, TPx has been a leader in developing premier managed service and connectivity solutions for the growing North American market. A key factor driving TPx's growth has been its ability to evolve its product line successfully into the UCaaS and managed services markets while maintaining its outstanding commitment to operational excellence, translating to world-class service quality. We have long admired TPx's innovative products and deep customer relationships," Frank Baker, co-founder of Siris, said in a statement. "TPx is a strong fit with our investment strategy.  We look forward to working closely alongside the TPx team to help the company address evolving customer needs and drive new opportunities for innovation and growth."

"TPx is a best-in-class UCaaS and managed IT services provider," said Joe Cozzolino, a Siris executive partner, in a statement. "TPx expertly serves its large, diversified customer base through the deployment of a highly scalable and reliable UC platform and comprehensive suite of managed security, managed WAN, and other managed IT services. We believe that, by partnering with Siris, TPx will be optimally positioned to address evolving customer needs and remain at the forefront of innovation in UC and IT solutions.  I look forward to supporting the company's continued growth and helping the team achieve its strategic objectives."