Houlihan Lokey announced yesterday that Communications Venture Corporation, Inc. (dba INdigital) has entered into a definitive agreement to be acquired by Novacap’s inaugural Digital Infrastructure Fund. INdigital provides Next Generation 911 (NG911) services that cover more than 60 million people in over 200 local 911 authorities throughout the United States and Canada.
INdigital was founded in 1995 by nine Indiana local exchange telephone companies. Since implementing what it says was the first large-scale E911 network in the United States in 2004, INdigital has grown to provide NG911, Text-to-911, and the MEVO service continuity platform.
The current management team of Mark Grady, Eric Hartman, and Jeff Humbarger will continue in their roles as Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer, respectively. The founding local exchange companies will continue to be significant shareholders in the company.
“Novacap is proud to partner with INdigital, a leader in the essential field of Next Generation 911 services, underscoring our commitment to mission-critical technologies that enhance public safety,” said François Laflamme, Senior Partner at Novacap. “Their superior technological solutions and strong market positioning align perfectly with our investment philosophy. Our objective is to drive their expansion and unlock the untapped potential within the NG911 space, leveraging our expertise to deliver enhanced value to our stakeholders and improve emergency response capabilities across North America.”
Houlihan Lokey served as the exclusive sell side advisor to INdigital and its shareholders on its sale to Novacap and assisted in marketing, structuring, and negotiating the transaction.
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