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September 22, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Charter Communications unloads cloud services firm Navisite

Managed cloud services provider Navisite has been acquired from Stamford’s Charter Communications by RDX, a Pittsburgh-based specialized provider of managed IT services. Financial terms were not disclosed.

Time Warner Cable acquired Navisite in 2011 for $230 million, and Charter acquired Time Warner Cable in 2015 for $78.7 billion.

Backed by private equity firm Madison Dearborn Partners, RDX will own and operate the assets of Navisite, including client relationships, employees dedicated to supporting the Navisite business, fixed assets, leases and Navisite-operated facilities.

“As part of our ongoing prioritization and refinement of our portfolio, this divestiture will accelerate the execution of our strategy to serve America’s largest businesses and communications service providers as a national service provider of scalable fiber-based technology solutions,” said Phil Meeks, executive vice president and president of Charter division Spectrum Enterprise.

The transaction is expected to close within the next few weeks.