Intermedia Cloud Communications, Inc. Plans $299 Million IPO for April 1st (INTM)

Intermedia Cloud Communications, Inc. (INTM) is planning to raise $299 million in an initial public offering on Thursday, April 1st, IPO Scoop reports. The company will be issuing 12,200,000 shares at $23.00-$26.00 per share.

In the last twelve months, Intermedia Cloud Communications, Inc. generated $251.6 million in revenue and had a net loss of $21.8 million. The company has a market-cap of $1.4 billion.

Morgan Stanley and J.P.Morgan acted as the underwriters for the IPO and Credit Suisse, Evercore ISI, Jefferies, William Blair, KeyBanc Capital Markets, TD Securities, Stephens Inc. and Loop Capital Markets were co-managers.

Intermedia Cloud Communications, Inc. provided the following description of their company for its IPO: “We provide a leading, proprietary cloud-based communications and collaboration platform, purpose-built for our extensive and expanding network of more than 7,000 channel partners and used by a growing base of over 122,000 business customers as of Dec. 31, 2020. Through our platform, our partners provide their customers our comprehensive portfolio of enterprise-grade, seamlessly integrated Unified Communications-as-a-Service (UCaaS) solutions, including our flagship product Intermedia Unite®, as well as a suite of Business Cloud Applications (BCA) that includes cloud-based email, security and productivity applications. Our UCaaS solutions benefit from strong growth as our partners enable businesses to modernize their legacy communications architectures. To incentivize and empower our partners to grow their businesses on our platform, we offer them a highly differentiated Customer Ownership Reseller model, branded CORE™. This model enables them to resell, package and manage our solutions as if they were their own, at highly attractive economic terms while maintaining ownership of their customer relationships.  “.

Intermedia Cloud Communications, Inc. was founded in 1993 and has 1064 employees. The company is located at 100 Mathilda Place, Suite 600 Sunnyvale, CA 94086 and can be reached via phone at (650) 641-4000.

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