Articles about Private Equity

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Team Trump snubs Big Internet oligarchs

Team Trump has announced the composition of the President's Strategic and Policy Forum – and there's no place for internet oligarchs like Eric Schmidt, Larry Page, Jeff Bezos or the world's fifth-richest man, Mark Zuckerberg. Former General Electric CEO Jack Welch has a seat, as does Ginni Rometty, head of everything at IBM. …
Andrew Orlowski, 05 Dec 2016
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Pound's plunge opens UK's tech SMBs to foreign buyouts - analyst

The £24bn purchase of Brit tech success ARM Holdings by Japan giant Softbank this summer was a contentious affair. The new government claimed it demonstrated that post-EU referendum Britain is “open for business”, although it has also voiced concern about British assets falling to overseas buyers with talk of a more focused " …
Gavin Clarke, 28 Nov 2016

Imation agrees deal to offload Nexsan to private equity

+ Comment Imation has reached an agreement to sell its Nexsan storage array and Connected Data subsidiaries to private equity company Spear Point Capital Management in a non-cash deal. The stock purchase agreement is detailed in an Imation 8K SEC filing. Here's a timeline of the relevant events: Jan 2013 - Imation buys Nexsan for $ …
Chris Mellor, 24 Nov 2016

Symantec doubles down on consumer security by buying LifeLock

Symantec has bought identity theft protection firm LifeLock for $2.3bn. The deal, announced Sunday, represents a brave bid by Symantec to shore up a consumer security business eroded by dwindling anti-virus sales. Selling Norton consumer security alongside identity protection and remediation services from LifeLock will enable …
John Leyden, 21 Nov 2016
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Misys cans IPO

Misys has scrapped plans to IPO, blaming market conditions. Earlier this month, the UK banking software vendor announced its intention to returned to the London Stock Exchange four years after it was bought by a private equity firm, Vista Equity Partners, for £1.3bn. In a terse note the company claimed "encouraging …
Drew Cullen, 27 Oct 2016
Cats eating a burrito and a taco

Metronet gobbles up hosting firm for £47.5m, instantly doubles in size

Manchester-based network services provider Metronet has snapped up infrastructure and hosting firm M247 for £47.5m. The combined business will have three data centres, over 200 staff, a combined turnover of more than £40m, and earnings before interest, taxes, depreciation and amortisation (EBITDA) of £12m. It means the ISP …
Kat Hall, 13 Oct 2016
A broken phone

Boost Ofcom's powers and fix mobile market woes, Three and TalkTalk tell MPs

Mobile telcos Three and TalkTalk told MPs today they want more power to go to Ofcom in the forthcoming Digital Economy Bill, in order to rebalance the market away from the dominance of BT/EE. Speaking at an evidence hearing on the forthcoming Digital Economy Bill, TalkTalk chief exec Dido Harding said: "I think inherently …
Kat Hall, 11 Oct 2016
Robot AI Woman

Today in stalking British AI startups: The Chinese are coming

British AI talent is about to be given a boost after Founders Factory, a company specialising in growing startups, announced today that it will receive a “multimillion pound” investment from a top Chinese private equity firm. CSC Group is one of China’s largest private equity firms, specialises in tech investment, and has …
Katyanna Quach, 10 Oct 2016
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€250m for OVH

French cloudy concern OVH has scooped €250m of investment from private equity outfit KKR and TowerBrook Capital Partners. The money will help OVH build its first US data centre and, according to CEO Laurent Allard "This capital increase will allow us to invest €1.5 billion over 5 years." "The aim is to provide ourselves with …
Simon Sharwood, 09 Oct 2016
Suitcase full of money

Misys in £5.5bn IPO

Misys, the banking software firm, is returning to the London Stock Exchange four years after it was bought by a private equity firm. The company aims to raise £500m at a price valuing it at £5.5bn. Since delisting in 2012, Misys has restructured and merged with Turaz, the former risk management software division of Thomson …
Drew Cullen, 06 Oct 2016
Woman serves at beginning of tennis game. Photo by Shutterstock

Private equity ownership produces an improved Arcserve, apparently

Private equity-owned backup and DR house Arcserve has got itself a second generation UDP 8000 appliance sitting above the existing UDP 7000 series with more performance and capacity. Arcserve claims it is the most cost-effective and easily deployable purpose-built backup appliance (PBBA) in the data protection industry. CEO …
Chris Mellor, 06 Oct 2016

Invasion of the Brandsnatchers: How Nokia and BlackBerry inhabit the afterlife

Analysis Early next year you should able to buy Nokia phones and BlackBerry phones, two of the giant names of the Noughties. None of these phones will be made by Nokia or BlackBerry, and all of them will be Android phones. The famous brands will inhabit new bodies, with the licensees hoping to rekindle some nostalgia both giants once …
Andrew Orlowski, 30 Sep 2016

HPE sells off 'non-core' software assets

Comment On the day the Dell/EMC acquisition/merger completed, HPE announced it was selling off a load of non-core software assets in a “spin-off” merger with UK’s Micro Focus. HPE gets $2.5bn in cash and HPE shareholders will have a 50.1 per cent ownership of the new entity, which will continue to be called Micro Focus. In addition …
Chris Evans, 21 Sep 2016

Hewlett Packard Enterprise bigwig chuckles at talk of buyout talks

The number two at Hewlett Packard Enterprise has brushed off talk the slimmed-down organisation could be vulnerable to a takeover, as the company is again linked with “possible” buyers - this time around Huawei, Lenovo, Oracle, Cisco and, er, Dell. Antonio Neri, executive veep and general manager for the Enterprise Group, told …
Paul Kunert, 21 Sep 2016
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Straight outta Staines: Attenda has finally been sold... to US biz Ensono

The Staines-based managed service provider Attenda has been sold to Ensono, and we called it. Initially due to be up for sale by owner Darwin Private Equity last year, Attenda wasn't flogged due to its fairly poor results. As we we reported at the time discussions began, Arma Partners worked as financial advisers for the deal …
Executioner

Dell swings layoffs axe at 3,000 EMC people

Dell is to trim the workforce following its $60bn-plus buy of storage titan EMC, with between 2,000 to 3,000 heads expected to roll. But if sales don’t track to management expectations, sources told us to expect more. A Bloomberg report claimed Dell will seek out $1.7bn in cost savings in the next eighteen months – but it will …
Paul Kunert, 09 Sep 2016
Dell EMC Frankenstein's Monster

Dell considers Franken-products once it gets around to consolidation

A running gag in the the HBO sitcom Silicon Valley points out that every other technology company has “making the world a better place” as its mission statement. Add Dell to that list: the leaders of the company's Asia-Pacific limb yesterday used more or less that mantra as to explain the company's next moves. In a conference …
Simon Sharwood, 09 Sep 2016
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UFC champ boards VMware

In a colossal non-surprise, Michael Dell has been elected chairman of VMware's board. Egon Durban's also won a seat: he's the managing partner and managing of Silver Lake, the private equity firm bankrolling plenty of Dell's investments. Durban also sits on the board of UFC - yup, that the Ultimate Fighting Championship, the …
Darren Pauli, 08 Sep 2016
Handshake

McAfee's back! Intel flogs security software biz, pockets $3.1bn

Intel is selling off a majority stake in its security software arm – formerly known as McAfee – to private equity firm TPG, which will rename itself to, er, McAfee. Chipzilla absorbed McAfee Inc in 2010 for $7.68bn, and in 2014 it phased out the McAfee brand name. According to Intel, that software division is today valued at …
Iain Thomson, 07 Sep 2016
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Equistone grabs stake in print services slinger Apogee

Private equity investor Equistone Partners Europe has slurped a stake in managed print and document services slinger Apogee Corporation. Maidstone-headquartered Apogee employs around 450 staff across 14 offices in the UK and mainland Europe selling hardware and managed services on kit from Canon, Xerox, Konica Minolta and …
Paul Kunert, 05 Sep 2016
Very colourful For Sale sign (limited offer etc). Photo by Shutterstock

Hewlett Packard Enterprise in talks to offload software, asking for '$8bn to $10bn'

The breakup of Hewlett Packard Enterprise is set to continue with execs locked in talks to offload the software division to private equity biz Thomas Bravo. The asking price is said to be $8bn to $10bn. The sale, reported first by Reuters, would close the curtain on one of HPE’s most embarrassing episodes, namely the …
Paul Kunert, 02 Sep 2016

InIn now in Genesys

Customer service tech specialist Genesys has acquired rival firm Interactive Intelligence for about US$1.4bn. Interactive Intelligence pioneered software-as-a-service for the call centre and customer service capers, adding unified comms and telephony along the way. The company brings in about $400m a year. The two companies …
Simon Sharwood, 01 Sep 2016
Blue Origins

Backup biz Arcserve: Private equity... there's nothing like it

Private equity ownership has given anodyne old backup biz Arcserve a huge energising kick in the behind. Over the past year, Arcserve says it has seen a 61 per cent increase in UDP (Unified Data Protection) product sales, a 41 per cent increase in general overall new sales. Of this 47 per cent was in EMEA and 22 per cent in …
Chris Mellor, 22 Aug 2016
Tape over mouth, image via Shutterstock

Rackspace CEO: Yes, Brexit has hit us, yes we sold our Cloud Sites biz

Rackspace execs confirmed the sale of its Cloud Sites hosting sub to Liquid Web but ignored the white elephant in the room that Apollo Global is reportedly in talks to slurp the entire organisation. The private equity house might well end up taking Rackspace private again in a deal valued at up to $4bn, buying the company time …
Paul Kunert, 09 Aug 2016
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Genesys stalks Avaya: report

Genesys Labs is poised to write a US$3 billion cheque for Avaya's call centre and customer service business, reports Reuters. Genesys is a call centre specialist that, like everyone else in the field, is trying to take transplant its customer service expertise into “omnichannel” service spanning voice calls and any imaginable …
Team Register, 08 Aug 2016
Rackspace CTO John Engates

Rackspace sale imminent?

Financial press are reporting that Rackspace is close to announcing a sale of some sort, probably to private equity outfits. Rackspace floated the idea of allowing itself to be acquired in 2014, but decided against doing so after its new strategy to offer managed cloud services mostly worked. Once a name to mention alongside …
Simon Sharwood, 05 Aug 2016
Young woman in headphones sits at mixing desk in radio/podcast studio. Photo by Shutterstock

Speaking in Tech: Thousands audition, millions vote.... One wins. It's Podcast Idol

Podcast speaking_in_tech Greg Knieriemen podcast enterprise This week Greg returns to our weekly tech-cast just as one of the co-hosts has decided it is time to move on. This week we discuss private equity and HPE, Oracle and NetSuite, being “the man” and some tearful goodbyes. The details… (1:00) The bitch is back (6:35) …
Team Register, 03 Aug 2016

Domain name bods NetNames netted by CSC Global

Domain biz NetNames has been flogged to US biz services outfit CSC Global for an undisclosed sum. Private Equity biz HgCapital has decided to offload NetNames after taking the publicly-listed outfit private in autumn 2011 for £153m, but it said little else about today's transaction. The deal isn't a massive surprise, as we …
Kat Hall, 02 Aug 2016
British sterling in flames

Outsourcery burned through more than £20 MEEEELLION in cash before it crashed

Defunct cloud infrastructure and apps provider Outsourcery Plc attracted interest from 12 bidders before it was offloaded to GCI Telecom for £4m, in a pre-pack administration handled by EY. The Statement of Affairs filed at Companies House revealed the final weeks of the failed Manchester-based, AIM-listed corporation that …
Paul Kunert, 02 Aug 2016
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Liberata in £43m buyout by Japanese firm OUTSOURCING Inc

OUTSOURCING Inc (OSI) – a Japanese player that does what it says on the tin – has acquired UK public sector BPO specialist Liberata for £43m. The buyer is has spread its tentacles via more than 70 subsidiaries into outsourcing across multiple industries including engineering, manufacturing, administrative and recruiting. …
Paul Kunert, 02 Aug 2016

HPE – yours for $40bn?

Hewlett Packard Enterprise (HPE) continues to be at the center of multiple acquisition talks. A fresh round of rumors has the Hewlett Packard spin-off looking to either sell off its software business or accept an outright bid to be purchased in-full. A Reuters report claims that buyout firms are in talks with Meg Whitman and …
Shaun Nichols, 29 Jul 2016
I quit

Comparex boss Mike Chambers packs bags and heads for hills

Comparex's veteran UK boss has left the Microsoft enterprise licensing reseller, the business has confirmed to The Channel. Mike Chambers was one of the early employees at the Harrow-on-the-Hill-based organisation, branded PC-WARE when he joined as managing director in 2004. “We can confirm that Mike Chambers has decided to …
Paul Kunert, 29 Jul 2016
Slices of madeira cake

CMO finds new berth at F5

F5 Networks has recruited an ex-Veritas CMO to be its own chief marketing officer. Ben Gibson became Veritas CMO in June last year, joining from a CMO position at Aruba Networks in January 2011. Gibson will be responsible for overseeing the company’s global marketing strategy as F5 further expands into the growth areas of …
Chris Mellor, 26 Jul 2016
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Data protection biz Arcserve fattens exec ranks with 3 new veeps

CA spinout and private equity-owned Arcserve is growing revenues at double digits, and has hired four new execs to sharpen its finance side, spin out more and better products and keep its channel business growing. Oussama El-Hilali becomes VP of Products, responsible for managing research and development, product strategy and …
Chris Mellor, 25 Jul 2016
mergers and acquisitions

EMC staffers: We are crashing into Dell within weeks

Staffers at EMC and its subsidiaries are to get Dell email addresses from the start of next month as the proposed mega buy edges closer, insiders have told The Register. EMC shareholders last night approved the $62.4bn bid – somewhat lower than the original $67bn offer due to a slide in VMware’s share price – and Chinese anti- …
Paul Kunert, 20 Jul 2016
Raised hands vote

Eat me, Michael: 98% of EMC shareholders back Dell mega-gobble

EMC shareholders have voted overwhelmingly to accept Dell's $60bn plus offer to merge the two companies into a new entity called Dell Technologies. At a special shareholder meeting at EMC's Hopkinton, Massachusetts, headquarters, 98 per cent of those present, representing 78 per cent of the shareholders, voted to approve the …
Iain Thomson, 19 Jul 2016
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VCs: Can't see an IPO or acquisition for your startup? Don't throw in the towel

Comment There surely must be an alternative to the two preferred exits for VC-backed startups – IPO or acquisition – in these times of near-VC funding drought and what seems like IPO fatigue. It used to be simple: build a storage startup that could take money and customers from the mainstream vendors, sit back and wait for competitors …
Chris Mellor, 19 Jul 2016
Opera singers

Opera sells open-source Chromium browser for $600m to Chinese bods

Opera will sell its web browser technology to Chinese investors for $600m after a larger sale worth $1.2bn fell apart. The Norwegian company said in a filing to the Oslo Børs stock exchange that it had agreed to an arrangement that will see the Chinese-backed Golden Brick Capital Management private equity fund take control of …
Shaun Nichols, 18 Jul 2016
recruitment_hired

Dell and EMC name the captain who'll run their $36bn channel biz

Dell has chosen one-time AMD exec and its current veep of sales John Byrne to head up its near-$36bn turnover global channel biz, once it has swallowed EMC in the coming weeks. The $67bn buy of the storage giant is due to close late in July or early August, sources close to the situation told us, when the enlarged organ will …
Paul Kunert, 13 Jul 2016
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Reuters flogs IP for $3.55bn

Thomson Reuters is selling off the intellectual property and science arm of its business for $3.55bn in cash. The business, which provides information and related services to companies, universities and governments, has 3,200 employees and will be sold to private equity firms Onex Corporation and Baring Private Equity Asia. …
Kieren McCarthy, 12 Jul 2016

Former Lenovo boss directed to CEO chair in Avnet's exec lounge

Enterprise tech distie Avnet has ejected Rick Hamada from the CEO chair and his seat on the board amid a warning that sales and profits have not tracked to previous forecasts. Hamada’s successor? Bill Amelio, former top dog at Lenovo and one-time Asia Pacific president at Dell who has buckets of experience of running high …
Paul Kunert, 11 Jul 2016
High-tech startup-rich neighbourhood Herzliya Pituach, Israel. Pic by InnaFelker, editorial use only via Shutterstock

Israeli tech firms make their exits, stage rich

Israeli hi-tech companies rang the tills with exits adding up to $3.3bn in the first half of 2016. A total of 45 hi-tech firms completed exit deals that averaged $74m, according to a study by IVC Research Center and law firm Meitar Liquornik. Increased difficulties in raising capital, particularly in the United States and …
John Leyden, 06 Jul 2016
The Big Question

Nuvias, hmm? What does this shiny new brand mean, Rigby?

Nuvias: 1) a psychotropic substance used in coming-of-age ceremonies by Amazonian tribes, 2) an Egyptian god, 3) the name for a holding company housing UK-based IT distributors Zycko and Wick Hill. The answer to this Call My Bluff-style question is, of course, 3) – it is the umbrella brand that Rigby Private Equity (RPE), …
Paul Kunert, 04 Jul 2016
sale

Intel mulls sale of Intel Security – reports

Opinion Intel is reportedly looking to offload its Intel Security arm. The IT giant is investigating options for Intel Security cyber security business, the FT reports. These options include selling off the security software business formerly known as McAfee that the chip-maker bought for $7.7bn back in August 2010. Intel is yet to …
John Leyden, 27 Jun 2016

Vendors suspend tech orders as Brexit slaps Brit pound

BREXIT If there is one thing the IT industry despises it is uncertainty and there was lashing of the stuff poured across the UK following the Brexit vote. Most major vendors already came out in favour of the Remain camp - including Microsoft, IBM, HPE, SAP, EMC, Cisco and many others - the result was so unexpected for the community …
Paul Kunert, 24 Jun 2016
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Maplin Electronics demands cash with menaces

The private equity profiteers behind Maplin Electronics have turned the screws on suppliers to hand over bigger rebates to help pay for physical and digital store improvements or risk having their kit sidelined. The geek fiddlers emporium was sold to Rutland Partners for £85m almost two years ago when the investor promised “ …
Paul Kunert, 23 Jun 2016
Business people move through revolving door. Photo via Shutterstock

Count 'em and weep: Intrinsic looking for fifth CEO in five years

The high office revolving doors at Intrinsic Technology are clearly still swinging - the company is on the hunt for its fifth CEO in five years after attempts to find a buyer ended unsuccessfully. Top dog Mark Bates has left the organisation after two years in charge and been replaced on an acting basis by non-exec chairman …
Paul Kunert, 21 Jun 2016
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Trustmarque has been sold yet again – this time to Capita for £57m

Capita has acquired Microsoft licensing house and managed services biz Trustmarque for £57m in cash – the fourth time the company has changed hands in three years Trustmarque, part of the Liberata Group, was rolled onto the market in February by parent Ardbid Ltd, appointing investment bank William Blair to find a buyer, as we …
Paul Kunert, 21 Jun 2016
sale

Confirmed: Dell software sell-off

Dell has confirmed rumors that it is selling off its software division to private equity firms Francisco Partners and Elliott Management. "Francisco Partners and Elliott Management's deep passion for technology and proven track records in nurturing and building software businesses will enable Dell Software's loyal base of …
Iain Thomson, 20 Jun 2016
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Symantec swoops on Blue Coat in $4.65bn deal

Blue Coat has scrapped its IPO plans in favour of a $4.65bn takeover by IT security rival Symantec. Greg Clark, Blue Coat CEO, will take the helm at Symantec, so resolving the question of succession of Mike Brown, who announced his resignation as CEO in April. On a pro-forma basis, the combined company would have $4.4bn in …
Drew Cullen, 13 Jun 2016