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Praesidian Capital Heads Senior Debt Investment in Cohere Communications [Manufacturing Close - Up](Manufacturing Close - Up Via Acquire Media NewsEdge) Praesidian Capital reported it has provided $6.9 million in senior debt and also provided growth capital to support Cohere Communications's acquisition of Another 9. According to a media release, Cohere provides managed cloud, Voice-over-Internet Protocol (VoIP) and IT services to more than 200 customers globally. Its customers are primarily financial and media firms where the stability of Cohere's network and customer service are most valued. Another 9 provides comparable, complex telecommunications services to more than 300 small and mid-sized businesses and specializes in secure, multi-site and high availability hosted solutions. Both businesses are located in the New York metropolitan area. "In this acquisition, we saw a company with a shared focus, commitment and expertise in addressing complex technologies," said Steven Francesco, CEO of Cohere. "The combination of the two companies offers new opportunities for serving our clients more effectively. We look forward to working with Praesidian Capital as we use our joint capabilities to become a full-solution IT service provider." Glenn Harrison, Partner of Praesidian Capital, added that "we are glad to partner with Steve Francesco and help him to execute his long-term vision for Cohere. We see the combination of these businesses as a focused, unified approach to telecomm and IT service solutions, and we welcome Cohere to Praesidian's growing group of IT- related businesses." Cohere Communications integrates the latest Cloud-Based technologies with diligent planning and design. Another 9 assists corporations and organizations to advance business uptime through specialist Infrastructure-as-a-Service (IaaS) and Disaster Recovery-as-a-Service (DRaaS) services. Praesidian Capital is a private investment firm focused on providing senior and subordinated debt along with growth capital to private lower middle market businesses in the United States, United Kingdom, Germany, and selectively in Northern Europe. More Information: http://www.coherecomm.com http://www.praesidian.com http://www.praesidian.com/news.php ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |