Comcast Business did not disclose the terms of the deal that will help the cable giant subsidiary expand its channel distribution strategy.
Comcast Business has completed its acquisition of Nitel, a provider of Network-as-a-Service (NaaS) technology, in a move to expand its networking and cybersecurity capabilities.
The deal, first revealed in December, has given Comcast Business’ secure networking and managed services portfolio a boost, as well as expanded its channel distribution strategy, the company said in a statement Tuesday.
Philadelphia-based Comcast Business, a subsidiary of internet and cable giant Comcast, did not disclose the terms of the acquisition.
[Related: NaaS Specialist Nitel CEO, CRO On The Evolution From Network Access To Global NaaS]
Comcast acquired Chicago-based Nitel from international private equity firm Cinven.
“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 of Comcast Business, in a statement. “By combining these two great teams, we are poised to offer even more robust network, cloud and cybersecurity solutions, empowering enterprises of all sizes.”
Founded in 2003, NaaS specialist Nitel offers advanced managed services and high-performance connectivity, cloud and cybersecurity to enterprises through channel partners. Nitel today has 6,600 customers and focuses on serving midsize enterprises, including those in financial services, health care and education, according to the company.
“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,” Nitel CEO Margi Shaw said in a statement.
Nitel was acquired in 2021 by U.K.-based Cinven. At the time, the company was valued at $700 million.
