Charter Sells Navisite to RDX

STAMFORD, Conn. & PITTSBURGH, Pa. -- Charter Communications, Inc. (CHTR) and RDX today announced a definitive agreement under which RDX will acquire and merge with Navisite LLC, a leading provider of managed cloud services.

Within the Madison Dearborn Partners investment portfolio, RDX, a specialized provider of managed IT services, will own and operate the assets including client relationships, employees dedicated to supporting the Navisite business, fixed assets, leases and Navisite-operated facilities.

"With its shared mission, RDX will benefit from Navisite's contributions as a trusted cloud service provider to its clients," said Phil Meeks, EVP and President, Spectrum Enterprise. "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."

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

Citi served as lead financial advisor to Charter in connection with the Navisite transaction.

RDX
Charter Communications
Navisite