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Articles about Private Equity

Brit data centre biz Pulsant sold to private equity house

The ownership of mid-market co-lo player Pulsant has changed hands, with private equity house BDC Capital selling up to Oak Hill Capital Partners for an undisclosed sum. As revealed last month, BDC enlisted investment bank Jeffries to advise on a sale and seek interested buyers, more than three-and-a-half years after it snapped …
Paul Kunert, 17 Jun 2014

Private equity signals interest in Optus satellites

Reports are emerging that Optus' satellite division, for sale if the price is right, is being eyed by a brace of private equity firms and a French telco. Back in March 2013, Optus appointed Morgan Stanley and Credit Suisse to conduct a strategic review of the satellite business, sparking speculation that the division would be …

Private equity firm coughs £1bn for Websense

NASDAQ-listed web content filtering player Websense is going private again after the board approved a deal with venture capitalist Vista Equity Partners (VEP). Under the terms of the transaction, VEP will cough $24.75 per share valuing the online security business at close to $1bn. This equates to a 29 per cent premium on the …
Paul Kunert, 21 May 2013

Private equity crew prep CDW IPO after $7.3bn buyout - report

The private equity boys are preparing to flip US technology shop CDW back to the market, Reuters reports. CDW has hired bankers to deliver an IPO later this year, Reuters reports. The financial services firms are reported to be JPMorgan Chase & Co, Barclays and Goldman Sachs Group. The proposed IPO could raise about $750m, an …
Gavin Clarke, 08 Mar 2013
WD RE4 Enterprise disk drive

Seagate private equity whispers begin... AGAIN

Seagate is reported to be talking to private equity firms about shifting off the stock market and back into private ownership. This would be the second time it has held such talks, so it's anybody's guess if anything will come of it. We heard about it from Aaron Rakers, a Stifel Nicolaus analyst of good repute, and he heard …
Chris Mellor, 26 Nov 2012

Telstra flogs phone books to Platinum Equity

Mere days after Telstra was rumoured to be selling its Sensis directory division for “as much as $AU3 billion” the carrier has closed the deal for the fire-sale price of $AU450 million. The sale puts 70 per cent of Sensis in the hands of US private equity firm Platinum Equity – putting a total valuation on the division at around …
hands waving dollar bills in the air

BMC on the private equity block

“Please don't call us a middleware company” BMC is reportedly close to being acquired in a $US6.5bn deal arranged by Bain Capital and Golden Gate Capital Corp. Financial press have tracked the deal for almost a month, but things now seem to be getting close to the moment at which prestigious pens reach paper, as Reuters roused …
Simon Sharwood, 06 May 2013

Entanet calls on equity firm Mobeus to back £14m MBO

Wholesale internet connectivity services provider Entanet has completed a £14m managed buyout with the backing of private equity firm Mobeus. MD Elsa Chen, financial director Ian Brewer and sales director Stephen Barclay were involved in the deal that saw the VC stump up £6m to invest in workforce (currently 85 heads) and …
Paul Kunert, 21 Feb 2014
Vertu phone

Nokia eyes private equity buyer for bling-phone firm

Private equity firm EQT appears to be back in the running as a potential buyer of Vertu, Nokia's wholly owned maker of bling-phones for the extremely well-heeled. Newsagency Reuters today said sources familiar with the sale negotiations had claimed Nokia wants €200m ($251m/£161m) for Vertu and its currently trying to persuade …
Tony Smith, 13 Jun 2012
Vertu phone

Nokia, private equity chat about €200m bling phone firm sale

Nokia's plan to sell off Vertu, its subsidiary that makes handsets for folk with so much money they don't even need sense, emerged back in December 2011. Now it looks like the sale may go ahead. Talking to the Finnish phone giant is, one mole claims, Permira, a Europe-based private equity company. The alleged asking price: €200 …
Keir Ching, 30 Apr 2012
BlackBerry logo

Sources spill CEO Heins' beans: BlackBerry 'open' to going private

The board of BlackBerry is considering a private buyout of the company, saying that delisting would get shareholders off its back and give it freedom to move. The rumour comes from Reuters, which reports "several sources" claiming that discussions have been had with various private equity companies, and enterprise computing …
Bill Ray, 09 Aug 2013
Dell logo in crosshairs

Shareholders tell Mike 'Just Do It': Dell to go PRIVATE for $24.9bn

Dell shareholders have given the green light to Mickey D to take the company he founded nearly three decades ago private – again. Approval from investors was never really in doubt after activist investor Carl Icahn, who seems more interested in Apple, revealed that he and partner SAM had given up the ownership battle, clearing …
Paul Kunert, 12 Sep 2013
fingers pointing at man

Overclockers UK swallowed by private equity firm Afinum

German private equity firm Afinum - owners of distributor Caseking - has swallowed specialist components etailer Overclockers UK for an undisclosed sum. Vahid Gharaei, biz development manager at Caseking told The Reg it had been seeking to break into the UK market for some time. "The economy being the way it is today we were …
Paul Kunert, 10 Feb 2012

Lynch mob of bankers say they'll stump up cash to take Dell private

Dell is a little bit closer to selling itself off, with at least four major banks willing to put up the money, according to knowledgeable sources. The rumour, reported by Reuters, was enough to send shares in the PC firm up over 7 per cent in New York trading yesterday. Dell is supposedly looking for private equity buyers to …
Seesaw

Private equity saves SeeSaw

The upending of SeeSaw has been cancelled. Owner Arqiva today announced it had flogged off 75 per cent of the online video-on-demand service. Arqiva will retain 25 per cent of the company, the rest going to a group of venture capitalists, private equity punters and merchant bankers. SeeSaw will be overseen by Michael Jackson, …
Tony Smith, 14 Jul 2011
CA Technologies logo

Software giant CA Technologies dumps arcserve biz

CA Technologies has sold its arcserve data protection business to Marlin Equity Partners for an undisclosed sum. This is meant to enable CA to focus on its core technologies and get back to growth with software-as-a-service products. The arcserve product is possibly being discontinued because it will cost too much to develop, …
Chris Mellor, 09 Jul 2014
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

'Disturbed' Dell investors could tank private buyout

According to reports, Dell's largest independent shareholder, Southeastern Asset Management, is not keen on the $24.4bn buyout bid, and it's not the only one. Sources whispered to Reuters that Southeastern and other investors think the deal undervalues their shares at $13.65 each and were hoping for more like $20 a share. …
michael_dell

Rumors say Dell again thinking of going private

IT supplier Dell is rumored to be thinking about taking itself private, getting out from under the expectations of Wall Street and going under the thumbs of the private equity firms that would fund the self-acquisition. According to a report at Bloomberg, which claims to have talked to two people "with knowledge of the matter," …
Dell logo in crosshairs

Dell & Friends get the green light on take-private deal

The word on the street late last week was that Michael Dell, Silver Lake Partners, and the banks behind them, who are trying to take the IT giant that bears the founder's name private through a leveraged buyout, were not going to raise their $24.4bn offer to counter a competing recapitalization plan put forth by Icahn …

For-sale sign erected outside UK reseller titan Kelway's HQ

Venture capitalists and prospective trade buyers will get the chance to take a look under the hood of London-based mega reseller Kelway this week – when investment bankers metaphorically drive the biz onto the forecourt. US finance house William Blair is in charge of selling off Kelway. Our sources close to the company expect a …
Paul Kunert, 14 May 2014
The Register breaking news

AOL, News Corp, private equity firms all have hots for Yahoo!

AOL, News Corp and a number of private equity outfits are reportedly circling Yahoo! in possible bids to buy the web portal. The Wall Street Journal cites “people familiar with the matter” who claimed that Silver Lake Partners and Blackstone Group LP are mulling a plan to help AOL purchase the Carol-Bartz-run firm. They are …
Kelly Fiveash, 14 Oct 2010
michael_dell

Friends with money: Dell's big bet on private finance

If not a gambler, Michael Dell seems certainly a born showman. With his 50th birthday on the horizon, when most people his age and with his billions might be thinking of slowing down or going philanthropic, he and his PC company have begun a brand new phase. Dell, a native of the brassy US state that lends its name to a brand of …
Gavin Clarke, 07 Feb 2013
Handshake

Outsourcer Atos outsources hardware, data centre refresh

Outsourcing monster Atos has thrown out the overhaul of its own tech infrastructure to Kelway in a five-year deal valued at £150m in total. The London-based reseller giant will refresh the desktop and data centre hardware estates at Atos' managed services biz in the UK and Ireland, and provide associated services. The contract …
Paul Kunert, 17 Mar 2014
TwitterIPO

Twitter jitters: Investors turn into quitters as shares hit the sh...

Shares in Twitter fell more than 11 per cent today as the six month lock-up period for early investors and staff expired. The end of the lock-up period, restricting the sale of 82 per cent of the company's equity, introduces 470 million shares to the market. It comes at a time when Twitter's share price has been falling off the …
Simon Rockman, 06 May 2014
euros_channel_money

Summer of data centre acquisitions on the cards in the UK

The business climate for acquisitions is mirroring the hotter weather outside, with a sales process for data centre providers Pulsant and VTesse Networks taking shape, multiple sources are telling us. Investment bank Jeffries has distributed an Information Memorandum for co-location player Pulsant, with private equity owner …
Paul Kunert, 20 May 2014
cloud

Seagate ends talks to go private

Seagate has ended discussions with interested parties about going private. The discussions failed to agree on how much the firm was worth with the private equity buyer – understood to be TGP Capital – placing a lower value on Seagate shares than Seagate's board. But the world's largest hard drive maker did have some good news …
Chris Mellor, 30 Nov 2010

Profit-free Box trousers $150m in funding. So much for an April IPO

Loss-making enterprise startup darling Box.com has swallowed another $150m in venture funding. The cloud collaboration announced the funding Monday as part of a deal that reportedly boosts the company’s value from $2bn to $2.4bn. The shot of private equity comes despite the company’s plan, announced in March, to go public with …
Gavin Clarke, 08 Jul 2014

CDW's flight into private equity is complete

CDW, America's biggest computer dealer, left NASDAQ today, on completion of its takeover by a couple of private equity firms. They are called Madison Dearborn Partners and Providence Equity Partners, in case you're interested. Now for a canned quote from Glenn Creamer, senior managing firector of Providence Equity. "Since its …
Team Register, 12 Oct 2007
New York City's Manhattan skyline

Airbnb might get $10bn price tag ... despite its legal woes

Airbnb, the online home-rental marketplace, is in talks to raise funding from private equity firms that would value the company at a sturdy $10bn. New York City's Manhattan skyline Those kind of valuations are par for the course for today's net startups really, but it's still a strong vote of confidence for a company that's …

Mega UK reseller Kelway bags investment banker for matchmaking service

Kelway has appointed global investment banker William Blair to seek a way forward for the business, which in all likelihood appears to involve hauling in a new private equity backer. As The Channel previously noted, Kelway has swelled to a £500m sales biz, which appears to restrict potential trade buyers in UK reseller land to …
Paul Kunert, 27 Jan 2014
The Register breaking news

Go Daddy in the hands of private equity giants

Domain name and web hosting giant Go Daddy has confirmed that it has entered into a strategic partnership with venture capital firms KKR, Silver Lake and Technology Crossover Ventures. Go Daddy CEO and founder Bob Parsons said the investors were selected because of their technology expertise and understanding of online …
The Register breaking news

Private investor pays $1.3bn to don Blue Coat

Web security and WAN optimisation appliance firm Blue Coat Systems has been acquired by private equity investment outfit Thoma Bravo in a deal valued at about $1.3 billion. Under the terms of the deal, shareholders will receive $25.81 in cash for each share of Blue Coat common stock they hold, a premium of around 48 per cent …
John Leyden, 09 Dec 2011
The Register breaking news

Could! Yahoo! be! sold! to! private! buyers?

Yahoo! co-founder and former CEO Jerry Yang wants to take the ailing web company out of the stock market in a deal with private equity firms, if the latest speculation on the firm's future is to be believed. People close to the inner mechanisms of Yahoo! have been doing their thing with Reuters, whispering to the newswire that …

Maplin Electronics sold for £85m to Rutland Partners

Electronics retail chain Maplin has been sold to a private equity firm for £85million - just a third of what it was acquired for a decade ago. Rutland Partners has snapped up Maplin and promised to use "change, restructuring and investment" in the pursuit of profitable growth. In a canned statement, Nick Morrill, managing …
Paul Kunert, 27 Jun 2014
Pound Sterling

Private equity snaps up two more UK firms

Private equity group Hellman and Friedman has bought CSG and Iris Software from HgCapital - the firm's previous private equity owners. The newly-combined firm will trade as Iris Software Group with turnover of more than £100m. Iris specialises in accounts software, while CSG provides software to lawyers and not-for-profit …
John Oates, 12 Jun 2007
Uber logo

WORLD LOSES MIND: Uber valued at TEN BEEELLION DOLLARS, Pinterest pegged at $5bn

San Francisco-startup and bane of taxi drivers Uber is in talks for funding that would value the startup at an astronomical $10bn. Despite its increasing trouble with regulators and cabbies, the upstart must still look like a pretty good bet to investors, since it’s hoping to raise a little less than $1bn from private equity …
management strategy4

Security vet Rafferty rocks up at Clearswift with bold plan

Security industry vet Ciaran Rafferty has been tapped up by Brit content and email traffic filtering firm Clearswift to run global sales. Billed by the firm as an industry rainmaker - someone that can conjure clients and cash - Rafferty has bags of channel experience gained in numerous previous roles. According to the man he'll …
Paul Kunert, 11 Mar 2014
channel

Schneider was approached by private-equity firms

Schneider Electric SA's announcement last week that it is to acquire American Power Conversion Corp (APC) is believed to have been a "defensive move" to protect the company from any takeover bids. According to today's Wall Street Journal, a group of three private-equity firms approached Schneider in a €20bn bid for the …
Kelly Fiveash, 06 Nov 2006
Northgate logo

Private equity firm snaps up Northgate

Kholberg Kravis Roberts and Company has inked a £593m deal to buy UK HR software outfit Northgate Information Solutions Plc. News of the private equity acquisition pushed shares in the firm up by nearly 44 per cent on the London Stock Exchange this morning. Investors can expect a big 95 pence a share payout from the sale, which …
Kelly Fiveash, 21 Dec 2007
3com

Private equity firms flirt with 3Com

Rumor has it that private equity firms are interested in taking born-again telecom equipment maker 3Com off the market. A Wall Street Journal blog claims that over the last few months, private equity firms including Silver Lake Partners and Bain Capital have approached 3Com about a possible purchase. Rival telecom equipment …
Austin Modine, 19 Jul 2007
channel_teaser_money_top

Kelway plonks self in shop window with double digit rev hike

Privately held tech supplier Kelway has rolled out a healthy set of fiscal '14 prelims that won't do any harm to its chances of securing private equity investment or attracting potential trade buyers. The London-based mega reseller claims turnover grew 49 per cent to £526m in the year-ended 31 March, partly fuelled by 45 per …
Paul Kunert, 19 May 2014
Apple signs for auction

It's a Brit Apple supplier BORG: Two become one £80m fruity tech titan

Private equity-backed Jigsaw24 has swallowed fellow Apple supplier Square Group for an undisclosed sum to create a circa £80m powerhouse in the fruit-branded channel. NorthEdge Capital took a stake in Jigsaw24 in April '13, providing the Nottingham-based dealer with an investment fund to speed up growth both organically and via …
Paul Kunert, 26 Jun 2014
frustration_anger_irritation_annoyance pain

Sony set to axe 5,000 workers worldwide as it flings PC biz overboard

Stumbling consumer electronics giant Sony has confirmed it will axe 5,000 workers worldwide and offload its loss-making PC business to private equity firm Japan Industrial Partners (JIP). The ailing Japanese corporate revealed the restructure as it forecast a ¥110bn loss (£665m) for the current financial year ending March …
Paul Kunert, 06 Feb 2014
South Park's Underpants Gnomes

Okay startup-land: this DATA shows you can stop your whining

It's holy writ for Australia's IT industry that if only we had more technology startups, everything would be better and the nation's economy would have a bright future once its to-all-intents limitless iron ore, coal and sunshine resources are depleted or become unfashionable. The reason Australia doesn't have more startups, the …
Simon Sharwood, 13 Feb 2014

Local gov broadband provider in talks with 'interested' bidders

Execs and private equity backers at broadband network service provider Updata Infrastructure UK are "actively" talking to a number of third parties who they say have expressed an interest in the business. San Francisco-based LMS Capital splashed £6.2m for a 53.3 per cent stake in Updata during the summer of 2009, in support of a …
Paul Kunert, 15 Nov 2013
channel_teaser_exit

CEO of bloated outsourcing firm Capita quits after 26 years

Fat cat chief exec Paul Pinder is to quit after 26 years at outsourcing giant Capita to head up small, private equity-backed businesses. The man who, along with other top brass, pocketed a 20 per cent pay hike last year as IT Services staff had their wages frozen and bonuses shelved, is to be replaced by Capita deputy chief exec …
Paul Kunert, 18 Nov 2013
Northgate logo

Northgate looks to private equity

UK HR software firm Northgate said late yesterday that it was in possible takeover talks with an unnamed private equity group. Northgate will be hoping that the potential buy-out could fetch a price of around 100 pence per share, which would value the firm at up to £580m, according to the Financial Times. Earlier this week …
Kelly Fiveash, 13 Dec 2007

Capita splashes £80m on network biz Updata

Capita has coughed an eye-watering £80m in cash for fellow Public Services Network (PSN) provider Updata, as El Chan predicted months ago. The pair are already well known to each other: they have an alliance in Scotland and linked arms on contracts including the recent Scottish WAN project valued at £325m over nine years. As …
Paul Kunert, 01 Apr 2014
management cio2

Brit IT veteran Kelly takes job at investment advisory firm

A British tech biz veteran and former bigwig at integrator Logicalis UK, Tom Kelly, has landed at mid-market M&A and debt advisory firm Livingstone. He joins Livingstone as IT and managed services sector advisor to help further boost its presence in Blighty's tech space, perhaps a sign of the local market's improving fortunes. …
Paul Kunert, 09 Oct 2013

BMC successfully sells self

Enterprise software company BMC has agreed to be acquired by a troika of private equity companies, who will hand over $US46.25 of cash for each outstanding share in the company. $6.9bn will therefore change hands to make the company the joint property of Bain Capital, Golden Gate Capital, GIC Special Investments and Insight …
Simon Sharwood, 07 May 2013