Longmont-based Intrado Inc. said Wednesday that it has hired a Wall Street investment bank to look at “strategic opportunities” for the company.
J.P. Morgan Securities Inc. will look at acquisition or merger options for Intrado, which provides software for 911 emergency networks, said David Whitten, senior vice president of corporate development and strategy.
Whitten insisted there is no link between the growing pressure from Roy Disney, nephew of Walt Disney, and other shareholders who now own 35 percent of Intrado and the decision to hire J.P. Morgan.
“These two different things are in play,” Whitten said. “The discussion (with J.P. Morgan) is of the options we need to examine as we pursue our future growth.”
Investment bankers also will examine a possible sale, a share recapitalization or repurchase, and an extraordinary dividend, a company statement said.
The dissident shareholder group, which includes Disney and Stanley Gold, president of Shamrock Capital Advisors Inc., threatened to sue the company over a list of unmet demands in an Oct. 7 letter.
The demands include more board representatives for the dissident shareholders.
No one from Shamrock was available for comment late Wednesday.
Intrado employs more than 600 people in Longmont. Telecommunication companies such as Qwest, Verizon and Vonage use its software.
It was started by two former Boulder County sheriff’s deputies.
Intrado plans to release third-quarter financial results today.
The company’s stock closed down 23 cents Wednesday at $18.
Staff writer Beth Potter can be reached at 303-820-1503 or bpotter@denverpost.com.
