ISLANDIA, N.Y., May 01, 2025 (GLOBE NEWSWIRE) -- West Technology Group, LLC (the "Company" or "West") has completed the sale of its Notified business to Equiniti (EQ)1, a global leader in shareholder services and advisory firm.
"We are pleased to complete the sale of Notified and believe that the complementary strengths of EQ and Notified will elevate the platform to new heights," said John Shlonsky, President and Chief Executive Officer of West. "Notified has transformed the way businesses connect with stakeholders, and we are confident that under EQ's leadership, it will continue to innovate and expand its reach. We look forward to seeing Notified flourish in its next chapter."
The sale price was $534.5 million, inclusive of an $80 million earnout. The Company intends to use the net proceeds of the sale in accordance with its credit facility and indentures governing its outstanding notes.
Brownstein Hyatt Farber Schreck, LLP served as legal advisor and RBC Capital Markets served as financial advisor to West on the transaction.
About West
West Technology Group, LLC ("West") is a cloud-based technology partner, delivering AI-driven omnichannel solutions that automate interactions and optimize engagements, improving efficiency and customer satisfaction. Our expertise includes innovative digital patient relationship management and conversational AI solutions. West is controlled by affiliates of certain funds managed by Apollo Global Management, Inc. (NYSE: APO). For more information, please visit www.west.com.
Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. 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 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, competition in West's highly competitive markets; West's ability to keep pace with its clients' needs for rapid technological change and systems availability; the loss, financial difficulties or bankruptcy of any key clients; the ability to realize estimated synergies and costs savings; security and privacy breaches of the systems West uses to protect personal data; increases in the cost of voice and data services or significant interruptions in these services; the effects of global economic and health trends on our business, including as a result of disruption of the business of West's clients; our Sponsor's control and influence; the political, economic and other conditions in the countries where West operates; changes in tax rates, the adoption of new tax legislation, or exposure to additional tax liabilities; changes in foreign exchange rates; 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 businesses; West's ability to protect its proprietary information or technology; service interruptions to West's data and operation centers; our ability to withdraw cash from foreign subsidiaries; 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 obtain additional financing; the incurrence of significant additional indebtedness by West and its subsidiaries; 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; and the ability of West's lenders to fulfill their lending commitments. West is also subject to other risk factors described in its annual report for the year ended December 31, 2024.
These forward-looking statements speak only as of the date on which the statements were made. West undertakes 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.
- Armor Holding II, LLC and Orbit Private Holdings I Limited (together, EQ)
