Charter Communications Inc., which owns the Spectrum Enterprise brands, has agreed to divest Navisite LLC, a leading provider of managed cloud services, to RDX. RDX is part of the Chicago-based Madison Dearborn Partners investment portfolio and is headquartered in Warrendale, Pennsylvania. It will own and operate the assets including client relationships, employees dedicated to supporting the Navisite business, fixed assets, leases and Navisite-operated facilities.
The transaction is expected to close within the next few weeks.
Founded in 1994, RDX is one of the largest independent providers of database infrastructure, data management and cloud management services in North America.
Madison Dearborn Partners is a private equity investment firm that has raised seven funds with aggregate capital of approximately $23 billion and has completed approximately 140 investments. MDP is currently investing out of its most recent fund, $4.4 billion MDCP Fund VII, in businesses across a broad spectrum of industries.
Citi served as lead financial advisor to Charter in connection with the Navisite transaction.