GTCRGTCR, the private equity firm that owns PR services and software giant Cision, announced today that it has inked an agreement to acquire telecommunications provider company Onvoy, LLC.

The deal is expected to close during the year’s first quarter.

Minneapolis-based Onvoy provides wholesale voice and messaging communications services for national telecom service providers and carriers. It was founded in 1991 and is a subsidiary of Communications Infrastructure Investments, LLC.

GTCR currently holds a minority share in Onvoy and has a representative on its board. In a statement, Onvoy CEO Fritz Hendricks said GTCR has “played a leadership role in support of Onvoy’s vision to expand network reach and enable communications for the evolving voice, messaging, and wireless market.”

"Fritz and his team have built a platform that is well-positioned to power the next generation of telecommunications providers," GTCR principal Lawrence Fey said in a statement. "We believe a streamlined ownership structure will help the team continue to pursue product innovation and strategic acquisitions."

Chicago-based GTCR has invested more than $12 billion in more than 200 companies specializing in finance, technology, healthcare, media and telecommunications since its founding in 1980. After taking PR software firm Vocus private last year in a $447 million cash transaction through affiliate GTCR Canyon Holdings, the private equity firm two months later oversaw the merger of Vocus with powerhouse PR services property Cision.

Cision in December purchased PR Newswire for $841 million.