Comcast Business Closes Nitel Acquisition

PHILADELPHIA--(BUSINESS WIRE)--Comcast Business today announced it has completed its acquisition of Nitel, a U.S. managed services provider headquartered in Chicago, from international private equity firm Cinven. The acquisition expands Comcast Business’ presence in connectivity, secure networking solutions and advanced technology, and enhances Comcast’s ability to serve enterprise clients.

“The completion of the Nitel acquisition is a significant milestone for Comcast Business. It strengthens our ability to deliver advanced, reliable connectivity solutions and enhances our channel distribution strategy,” said Edward Zimmermann, President, Comcast Business. “By combining these two great teams, we are poised to offer even more robust network, cloud and cybersecurity solutions, empowering enterprises of all sizes.”

Nitel has deep expertise providing integrated managed network and security solutions to its 6,600 clients across the country, with a strong focus on mid-size enterprise clients, including those in financial services, healthcare, and education. Adding Nitel’s comprehensive solutions and specialized cloud-based services to Comcast Business’ advanced connectivity portfolio will provide further growth opportunities. It will also enable customers to seamlessly manage their operations and networks more securely and efficiently.

“We are excited to officially join Comcast Business and embark on this next chapter together,” said Margi Shaw, CEO, Nitel. “Our team has always been committed to delivering exceptional service, and now, as part of Comcast Business, we will be able to accelerate innovation and provide even more cutting-edge solutions to our customers. The future is bright for Nitel and Comcast Business.”

Nitel is a network-as-a-service (NaaS) provider, specializing in delivering advanced managed services and connectivity solutions to enterprise customers across the U.S. With a focus on high-performance networking, cloud services, and cybersecurity, Nitel empowers businesses to optimize their operations and drive digital transformation. Known for its customer-centric approach, Nitel offers flexible solutions that meet the unique needs of its clients, helping them to stay competitive in a rapidly evolving digital landscape.

Financial terms of the acquisition were not disclosed.

About Nitel

Nitel is a network as a service (NaaS) provider. We simplify the complex technology challenges of today's enterprise organizations to create seamless and integrated managed network and security solutions to help customers meet the demands of digital transformation. For more information on Nitel, please visit: https://www.nitelusa.com.

About Comcast Business

Comcast Business offers leading global businesses the technology solutions and forward-thinking partnership they need. With a full suite of solutions including fast, reliable connectivity, secure networking solutions and advanced cybersecurity and a range of managed service options, Comcast Business is ready to meet the needs of businesses of all sizes. Comcast Business has been recognized by leading analyst firms for its continued growth, innovation, and leadership, and is committed to partnering with customers to help them drive their businesses forward.

For more information, call 800-501-6000. Follow @ComcastBusiness on social media networks at http://business.comcast.com/social.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit www.comcastcorporation.com for more information.