U.S.-based private equity firm Moa Capital has acquired telecommunications market research and consulting firm TeleGeography from PriMetrica, Inc.
Financial details of the transaction have not been released. Moa Capital is a growth private equity firm focused on companies in the lower-middle market.
With the closing of the deal, former CEO Dave Bellon has retired, and Michael Owings has been appointed TeleGeography’s CEO.
Owings has 17 years of experience with TeleGeography and has worked extensively across its sales and marketing teams, most recently serving as Chief Operating Officer (COO) of the company.
Beyond the board changes, the company said in a statement that it will continue to operate without any major changes and remains a US-based operation, headquartered in Washington, D.C.
Marko Nikolic, Managing Director at Moa Capital, said: “TeleGeography is a proven and trusted leader in telecommunications market research and consulting. It plays a critical role in the international telecom market and we’re proud to be part of its journey. It has a solid reputation as a trusted, independent source of information, and we’re committed to upholding this ethos as the company continues to grow across its global footprint.
“We would like to thank Dave Bellon for his leadership of TeleGeography and congratulate Michael on his new role as CEO. We’re excited to be part of TeleGeography’s work.”
Chief executive Owings added: “This is a very exciting time for TeleGeography and a logical next step for our organization. We have an opportunity to continue our global growth and deliver insights and intelligence for more enterprises and service providers around the world.
“Our change in ownership will not change our commitment to data integrity and serving our customers and partners with the care and sensitivity that they’ve come to expect from our team.
“I’m honoured to be made CEO of TeleGeography, a company that I’ve been a part of for 17 years. I’m excited for the future and delivering world-class services to our customers.”