Articles about Private Equity

Rigby clan jumps into private equity game

Industry veteran Paul Ecclestone is to head up a private equity subsidiary for Rigby Group that is seeking small but perfectly formed companies in perceived hot areas of tech. The exec returned to the Midlands-based biz dynasty in early April, having previously transferred with Specialist Distribution Group when it was acquired …
Paul Kunert, 02 Jul 2015

Symantec selling Veritas to private equity firm – report

Symantec’s soon-to-be-split-off Veritas business is destined for private equity ownership, according to Bloomberg. The buyer is said to be the Carlyle Group and it will pay something between $7bn and $8bn for a business, which has forecast $2.6bn annual revenues. It’s been noted for some time that there is no CEO identified …
Chris Mellor, 09 Jul 2015
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Microsoft enterprise reseller SoftwareOne bags private equity investor

Volume licensing transaction engine SoftwareOne has sold a minority stake to private equity investor KKR for an undisclosed sum, the companies confirmed today. Challenges facing the Microsoft enterprise reseller – AKA a Licensing Solution Partner – are multiple, not least the proliferation of the cloud as more businesses …
Paul Kunert, 17 Aug 2015

ICANN CEO will head off to private equity firm

ICANN CEO Fadi Chehade has announced where he'll be heading after he breaks his contract 10 months early: private equity firm Abry Partners. Chehade surprised the internet community, and threw ICANN in disarray, when he announced in May that he was going to leave early – and, crucially, before ICANN takes over control of the …
Kieren McCarthy, 17 Aug 2015
Giant burger

Rigby Private Equity stuffs its face with a slice of Wick Hill

Security and storage value-added distributor Wick Hill is the first piece of channel real estate that Rigby Private Equity has invested in, with the proceeds to be used to fund wider expansion in mainland Europe. As The Channel exclusively revealed last week, the Midlands-based tech dynasty has incorporated a private equity …
Paul Kunert, 06 Jul 2015
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Private equity downs WAN furtler Riverbed in $3.6bn gulp

+Comment WAN optimiser and app speeder Riverbed is being bought by private equity house Thoma Bravo for $3.6bn. Riverbed failed to grow sufficiently and its business foundered somewhat, opening it up to the attentions of activist investor Elliott Management. That's the same investor that is pushing EMC for a VMware sell-off. In October …
Chris Mellor, 15 Dec 2014
Man drinking through a straw CC2.0 attribution Bradley Gordon https://www.flickr.com/photos/icanchangethisright/

Riverbed retires RVBD from NASDAQ after private equity swoop

Riverbed is no longer a publicly-traded company, as the buyout of its stock by private equiteer Thoma Bravo and Teachers’ Private Capital concluded late last week. The deal was announced last December and appears to have been influenced by activist investor Elliot Management which reckons Riverbed could be doing better. All …
Simon Sharwood, 27 Apr 2015

Symantec palms Veritas off on private equity group in $8bn mega-sale

As suspected, Symantec has offloaded its Veritas storage business to the Carlyle Group for $8bn - way off the $13.5bn paid for the company in 2004. The Carlyle Group has contributions towards the purchase from GIC, Singapore’s sovereign wealth fund, and other expected co-investors. Symantec expects to receive approximately $6. …
Chris Mellor, 11 Aug 2015
Roughly 150kg of gold

Private equity grabs Informatica for $5.3 BEEEEEELLION

Data management software player Informatica is now in the hands of private equity overlords, after an eye-watering $5.3bn buy-out was signed and sealed. It seems company execs were listening to activist investor Elliott Management, which owned 9.4 per cent of Informatica's shares, and some months back had called for the business …
Chris Mellor, 07 Apr 2015
hands waving dollar bills in the air

100+ trade buyers and private equity bods eyed up Kelway

More than one hundred trade buyers and private equity firms expressed an interest in buying a piece of Kelway, before CDW finally beat the competition to take a 35 per cent stake. As exclusively revealed by El Chan on Thursday, Kelway boss Phil Doye retains a 55 per cent stake in the firm. Others in the management team keep hold …
Paul Kunert, 06 Nov 2014

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
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Informatica goes private – with Microsoft and Salesforce each taking a share

Data management outfit Informatica became a private company on Thursday, in a multibillion-dollar leveraged buyout that included investment from Microsoft and Salesforce.com's venture wing. Investors received $48.75 in cash for each share of Informatica, which previously had traded on the Nasdaq exchange. The total value of …
Neil McAllister, 07 Aug 2015

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

Australian tech businesses score $940m of VC and private equitty

Startup-land Australia likes nothing more than to whinge about how hard it is for tech companies to find their first investors in Australia. The sector is considered scarcely capable of spelling HTML, never mind capable of understanding its importance enough to invest in someone that wields it. Complaints about how hard it is to …
Simon Sharwood, 15 Feb 2015
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

Compuware slurped by private equiteer for $2.5bn

Private equity firm Thoma Bravo will acquire software house Compuware for about US$2.5bn. Shareholders will be delivered about $10.92 per share, a 17 per cent premium on last week's closing price for Compuware stock - not bad for a company once known as "the elephants' graveyard". Compuware chair Gurminder S. Bedi's canned …
Simon Sharwood, 03 Sep 2014

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 …
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

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, 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
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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

Raytheon suspected of readying for Websense slurp

The biz-wires are abuzz with industry talk that enterprise net-filter outfit Websense will be slurped by Raytheon for a cool $US1.9 billion. Now an e-mail and Web security company with deployment options from the desktop to the cloud, Websense had long lived under the wing of private equity company Vista Equity Partners (VEP). …
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
Sony Vaio 11 Duo hybrid PC Ultrabook

Vaio returns from the dead wearing sharper suit, bolts in neck

Sony Vaio is making a comeback overseas, with plans to relaunch the brand on Windows 10 devices in the US and Brazil later this year. Last year, Sony axed 5,000 workers worldwide and offloaded its loss-making PC business to private equity firm Japan Industrial Partners (JIP). Chief executive of JIP Yoshimi Ota told the Wall …
Kat Hall, 19 Aug 2015
Maurice Moss IT crowd

Dynatrace and Keynote are Borging into a super-APM outfit

Six months after being split from Compuware by private equity surgeons, Dynatrace is working to get under the noses of devs in suits. Dynatrace is today expected to announce it’s merged with Keynote Systems, a specialist in application performance monitoring. While Dynatrace also provides application performance management …
Gavin Clarke, 17 Jun 2015
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
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Symantec may flog off Veritas – but where's the CEO hunt at?

Symantec is being pressed to sell its Veritas storage unit to private equity instead of floating it as an independent publicly-owned business, according to reports over the weekend. Symantec intends to split itself into separate security and storage businesses as a way of re-igniting growth for both. CEO Michael Brown will run …
Chris Mellor, 13 Apr 2015
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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
£10 notes. Pic: Howard Lake

Attenda for sale this year? Not on your nelly, says CEO

App hosting and co-lo slinger Attenda was expected to be put up for sale by owner Darwin Private Equity later this year, but postponed the process, and it’s latest financials perhaps explain why. The venture capitalist backed an MBO of Staines-based Attenda in 2011 for £50m and multiple sources told us in May that it had eyed up …
Paul Kunert, 19 Jun 2015
Boy slurps watermelon. Credit: Shutterstock

Six Degrees separates: Sold to Charlesbank Capital Partners

Private equity biz Penta Capital has agreed to sell hosting and managed services outfit Six Degrees to funds affiliated with Charlesbank Capital Partners for an undisclosed sum. The business came onto the market in February with corporate financier DC Advisory managing the sale process, as El Chan exclusively revealed. …
Paul Kunert, 17 Jun 2015

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 …

We told you so! Daisy Group slurps up Damovo UK

Daisy Group has confirmed what our readers already knew – it has wolfed down unified comms specialist Damovo UK in its first deal since going private again less than a fortnight ago. West Sussex-based Microsoft and Cisco Gold badge holder Damovo is the former enterprise sales and services division of Ericsson. “With strong …
Paul Kunert, 02 Feb 2015
eBay

eBay about to put part of self on eBay

eBay is about to sell off its enterprise services unit, according to folks whispering in the ear of The Wall Street Journal. The journal names private-equity outfit Permira as the buyer and suggests the company's pen is poised over a cheque with US$900m written in the “amount” field. Ebay Enterprise, as the division is known …
Simon Sharwood, 16 Jul 2015
Cuts to orange

Sync 'n' sod it: EMC might be shaping up to sell Syncplicity

EMC is set to sell is Syncplicity file sync'n'share business to a private equity firm, according to a Bloomberg report. Skyview Capital LLC is the aforementioned PE biz, and it says about itself: “We specialise in acquiring and unlocking unrealised potential within market-leading businesses across a variety of sectors.” …
Chris Mellor, 07 Jul 2015
Stock market. Pic: Alberto Carrasco Casado

Softcat preps for IPO, closes in on brokers

Softcat is preparing the groundwork for its flotation on the London Stock Exchange with the market expected to value the tech reselling juggernaut at cool half a billion pounds. Our sources tell us Marlow-based Softcat has narrowed the field of potential brokers to a handful of firms, but Credit Suisse and Jeffries are most …
Paul Kunert, 29 May 2015
£1.92bn buys a lot of dog food

GoDaddy float values puppy-bothering hosting company at £1.9bn

Domain name, registration, web and mail hosting company GoDaddy is expected to be valued at $2.87bn (£1.92bn) when it floats to become a PLC with the stock ticker GDDY. The US company manages about 20 per cent of the world’s internet domains and has grown through use of attractive women in its advertising, not least Indy racing …
Simon Rockman, 20 Mar 2015

Gobblefest on horizon for managed services pair

The sales process for a couple of native data centre providers is gaining some momentum, with Six Degrees edging closer to a deal and Adapt appointing a corporate financier to market the business. London-based Six Degrees called on DCC Advisory in February to sell the voice and data hosting firm by April, as we exclusively …
Paul Kunert, 15 May 2015
Green light

Colt shareholders grab Fidelity offer, declare 'we're outta here'

Reluctant telco Colt is edging closer to private ownership again, after a bunch of shareholders approved a 190-pence-per-share offer from private equity firm Fidelity to flee the loss-making biz. Fidelity was already a majority share owner in Colt when it approached the LSE-listed cloud wannabe in June, with a bid that values …
Paul Kunert, 12 Aug 2015
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Hauling DRaaS: Unitrends CEO off to consulting job

+Comment Virtual server backup and Disaster Recovery as a Service (DRaaS) startup Unitrends has lost one CEO and hired a new one. Mike Coney, CEO since November 2009, has been thanked for his valued service and Unitrends wishes him well in his next endeavour. Coney now describes himself as a CEO consultant. This CEO change follows on …
Chris Mellor, 09 Jan 2015
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Daisy Group seals Phoenix IT Group buy, exec set for exit

Some execs at LSE-listed Phoenix IT Group are edging toward the exit, El Chan can reveal, after the proposed takeover by Daisy Group today got the official rubber stamp. The approach from privately owned Daisy came in May when it offered 160 pence per share for Phoenix in a transaction that valued the equity at £135m. The …
Paul Kunert, 16 Jul 2015
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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," …
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. …
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
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Wick Hill decides the, er, Price is right

Channel veteran Tony Price has landed as UK sales director at specialist security distie Wick Hill. Price is a former boss at reseller WStore and has worked in various levels across distribution at now defunct CHS Electronics and second user wholesaler Chiltern IT. “We’ve got a significant expectation of increased sales in …
Paul Kunert, 16 Jul 2015
Stock market. Pic: Alberto Carrasco Casado

Sophos: We'll have a market cap of £1bn when we IPO

Brit security slinger Sophos’s listing on the London Stock Exchange went live today, giving the firm a market cap of around £1bn – a valuation that has caused a stir among analysts. The intent to float was confirmed weeks ago, with the Oxford-based firm expecting to raise cash to fund the next phase of biz development and rub …
Paul Kunert, 26 Jun 2015

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
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NetApp name-changes SteelStore to AltaVault

NetApp's marketing droids have renamed its acquired SteelStore product AltaVault, showing obeisance at the high altar of cloud storage. The Sunnyvale company bought SteelStore from Riverbed for $80m in October last year, before it was gobbled up by private equity. The product provided cloud back-up gateway functionality with a …
Chris Mellor, 28 May 2015