PE firms play small ball
Posted by Brenon Daly on January 4, 2012
Contact: Brenon Daly After years of writing multibillion-dollar checks in some of the largest tech transactions, private equity (PE) shops dramatically scaled back their purchases in 2011. The single biggest deal last year (The Blackstone Group’s $3bn take-private of healthcare technology vendor Emdeon) only ranked 15th among the largest transactions in 2011. It was the [...]
Recent Blue Coat shareholders no longer in the red
Posted by Brenon Daly on December 13, 2011
Contact: Brenon Daly Anyone who bought shares of Blue Coat Systems over the past half-year breathed a sigh of relief after the recent buyout of the old-line security vendor. Thoma Bravo’s bid of $25.81 for each share means that buyers since May are all above water. (The offer represents a 48% premium over the previous [...]
Sterling Partners aids Mosaid
Posted by Tejas Venkatesh on October 31, 2011
Contact: Thejeswi Venkatesh Earlier this month, Wi-LAN indicated it would ‘pack up and move on’ if Mosaid Technologies’ shareholders did not accept its sweetened $42 per share unsolicited offer. But in a rather unusual turn of events, it is Mosaid that has moved on. On Friday, the chip technology company announced an agreement with buyout [...]
Cut the CDN already, InterNap
Posted by Ben Kolada on October 27, 2011
Contact: Ben Kolada We’ve long covered InterNap Network Services as both a potential target and a datacenter services vendor with disappointing earnings. With what’s likely to be another underwhelming quarter (the company reports Q3 results after the bell today), we take yet another look at what can be done to save this barely floating ship. [...]
Renaissance plays politics
Posted by Brenon Daly on October 21, 2011
Contact: Brenon Daly It must be election season. That’s what struck us when we saw earlier this week that Renaissance Learning went ahead and accepted a buyout offer that valued the online education vendor at about 10% less than an unsolicited bid. To our ear, some of the material in the proxies filed in connection [...]
A little something for your trouble
Posted by Brenon Daly on August 17, 2011
Contact: Brenon Daly Breaking up is hard to do. And it can be expensive, too. But as a pair of deals this week shows, the costs aren’t necessarily borne equally by the two sides in a planned transaction. In the higher-profile case, the market is buzzing that Google may be on the hook for a [...]
Are Internet infrastructure exits interconnected?
Posted by Ben Kolada on August 10, 2011
Contact: Ben Kolada Providing further proof that it’s a tough time to be on the market, much less come to market, GI Partners has opted to sell its Telx investment rather than battle through an IPO. The company’s sale to ABRY Partners and Berkshire Partners closes the books (at least for now) on a proposed [...]
In Network Solutions’ sale, General Atlantic gets a bit of both exits
Posted by Ben Kolada on August 4, 2011
Contact: Ben Kolada Web.com is acquiring Web hosting and domain name registration vendor Network Solutions in a deal valued at $756m, including the assumption of debt. And we expect that Network Solutions’ owner couldn’t be more relieved. With flat revenue and customer attrition in recent years, Network Solutions’ private equity owner, General Atlantic (GA), wasn’t [...]
Big deals for single PE firms
Posted by Brenon Daly on July 6, 2011
Contact: Brenon Daly In 2010, it was The Carlyle Group. So far in 2011, it’s Providence Equity Partners. These two private equity (PE) firms have the two largest non-club tech leveraged buyouts in each of the past two years. Recall that last October – on successive days, no less – Carlyle erased both CommScope and [...]
Going, going, gone: Go Daddy sells to KKR
Posted by Ben Kolada on July 5, 2011
After canceling a proposed IPO in 2006 and reportedly being on the block since late last year, The Go Daddy Group is now selling an undisclosed stake to private equity firms KKR, Silver Lake Partners and Technology Crossover Ventures. The deal is believed to be among the largest private equity investments in the Internet infrastructure [...]
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