The products and services included in the transaction are:
As part of the terms of the transaction, Nasdaq has agreed to an exclusive multi-year partnership with West to provide eligible Nasdaq clients seamless access to certain products and services included in the transaction.
"West is a leader in
technology-enabled communication services and is focused on growth and expanding the depth and breadth of its enterprise communications client relationships," said
The closing of this transaction, which is subject to regulatory approvals and customary closing conditions, is projected to occur in the second quarter of 2018. Nasdaq expects to use the proceeds from the sale for share repurchases. In conjunction with this, Nasdaq's board of directors has authorized an additional
Advisors and Financing Providers:
Credit Suisse and LionTree are acting as financial advisors to West.
Evercore is acting as exclusive financial advisor to Nasdaq.
For over 30 years, West has provided reliable, high-quality voice and data services. West has sales and/or operations in
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including with respect to the proposed transaction between West and Nasdaq,
including statements regarding the benefits of the proposed transaction and the anticipated timing of the proposed transaction. Forward-looking statements can be generally identified by the use of words such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "intends," "continue" or similar terminology. These statements reflect only West's or Nasdaq's current expectations and are not guarantees of future performance or results. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that the parties may be unable to complete the proposed transaction because, among other reasons, the parties cannot satisfy the conditions precedent to the transaction; the timing
of consummation of the transaction; the ability of the parties to secure regulatory approvals in a timely manner or on the terms desired or anticipated; the ability to implement the anticipated business plans following closing and achieve anticipated benefits and savings; the effect of the announcement of the proposed transaction on West's and Nasdaq's relationships with their respective clients, operating results and business generally; competition in West's or Nasdaq's highly competitive markets; increases in the cost of voice and data services or significant interruptions in these services; West's and Nasdaq's ability to keep pace with client needs for rapid technological change and systems availability; the continued deployment and adoption of emerging technologies; the loss, financial difficulties or bankruptcy of any key clients; security and privacy breaches of the systems West or
Nasdaq's uses to protect personal data; the effects of global economic trends on the businesses of West's clients; the non-exclusive nature of West's client contracts and the absence of revenue commitments; the cost of pending and future litigation; the cost of defending against intellectual property infringement claims; the effects of extensive regulation affecting many of West's or Nasdaq's businesses; West's or Nasdaq's ability to protect its proprietary information or technology; service interruptions to West's data and operation centers; West's or Nasdaq's ability to retain key personnel and attract a sufficient number of qualified employees; increases in labor costs and turnover rates; the political, economic and other conditions in the countries where the parties operate; changes in foreign exchange rates; West's and Nasdaq's ability to complete this and future acquisitions,
integrate or achieve the objectives of its recent and future acquisitions, including this acquisition; and future impairments of our substantial goodwill, intangible assets, or other long-lived assets. In addition, West is subject to risks related to its level of indebtedness. Such risks include West's ability to generate sufficient cash to service its indebtedness and fund its other liquidity needs; West's ability to comply with covenants contained in its debt instruments; West's ability to obtain additional financing; the incurrence of significant additional indebtedness by West and its subsidiaries; and the ability of West's lenders to fulfill their lending commitments. West and Nasdaq are also subject to other risk factors described in documents filed by the parties with the
These forward-looking statements speak only as of the date on which the statements were made. West and Nasdaq undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
Nasdaq Media Relations Contacts:
Nasdaq Investor Relations Contact:
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