Articles about Private Equity

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
Tabby cat cuddles roll of one-hundred dollar bills. Photo by Shutterstock

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

Microsoft's biggest UK reseller flashes fuller figures for '15

Microsoft licensing mountain Trustmarque won’t have done its chances of snaring a new private equity backer any harm by pushing out a decent set of trading figures for calendar year 2015. The York-based reseller, which merged with sister biz TES at the start of last year, reported turnover of £191.9m, up eight per cent on a …
Paul Kunert, 06 Jun 2016
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Hungry UK services slinger swallows hosting biz for £65m – sources

UK managed services slinger Pulsant has agreed to fork out £65m for data centre and hosting biz Onyx, multiple sources close to the situation have claimed. A "for sale" sign was erected outside Onyx’s Stockton-on-Tees HQ in January and the process was managed by Deloitte, as we exclusively revealed. “The deal is done,” said …
Paul Kunert, 26 May 2016
Nokia 1011

How Nokia is (and isn't) back in the phone business today

Analysis We have a new phone company today, and it’s European. And the badge says Nokia. So is Nokia back in the phone biz? Yes and no. It won’t spend a penny on either making or marketing phones - even at arm’s length. All that is going to be the job of a new entity, HMD Global Oy, run by present and past Nokians. From HMD we can …
Andrew Orlowski, 18 May 2016
Job cuts jpeg

Lost little X-IO lays off ~75 staff in Colorado as it shutters factory

X-IO sent a formal letter on April 29 to the Colorado Department of Labor and Employment, saying it intended to close its Colorado Springs manufacturing operation, and warning that up to 107 people could lose their jobs. In the event 70-80 employees were laid off, with some 50 employees remaining. Potential job rescue, IP …
Chris Mellor, 05 May 2016
£10 notes. Pic: Howard Lake

Ah, so that's why Adapt wasn't put in the shop window in 2015

The reason why Lyceum-backed Adapt remains Lyceum-backed is contained in their latest set of annual profit and loss accounts - company growth stalled and so a sales process was halted. The London-based outfit was expected to come onto the market last last year and tasked M&A and corporate finance advisor ARMA Partners with …
Paul Kunert, 18 Apr 2016
Yahoo! branded bus

What's wrong with the Daily Mail Group buying Yahoo?

Analysis Right now MailOnline parent the Daily Mail Group is worth at most £2.5bn, and the few content assets that Yahoo! is supposed to be selling, are already worth way more than that. But the issues go deeper. DMG – parent both of the Daily Mail print newspaper and the massively successful online site Mail Online – has no magic …
Faultline, 18 Apr 2016
Sorry we're closed

Australia's Dick finally drops off

Imagine a parallel universe in which Steve Jobs or Clive Sinclair decided the best way to bring their products to the world was a chain of retail stores, complete with a Colonel-Sanders like icon of their very own faces to helm the brand. That's more or less what happened in Australia, where in the early 1970s a chap named …
Simon Sharwood, 17 Apr 2016
Shopping trolley. Pic: Mikey, Flickr

Microsoft licensing giant yanked off market after sales bid fails

The sales process for Microsoft enterprise licensing house Comparex is "ongoing", the parent company has told us, denying claims from multiple industry sources it is dead in the water. The Raiffeisen Banking Group-owned reseller hired investment banker Jefferies to manage a sales process in May and by September just two …
Paul Kunert, 15 Apr 2016
Daisywheel with Courier font

PC biz merger at risk

Vaio's backers have ended Toshiba and Fujitsu merger talks. The private equity firm behind Vaio has ended merger talks with the PC units at Toshiba and Fujitsu, according to a report. Japan Industrial Partners Inc has walked away from the table, and neither of the other firms wants to take a majority stake, putting the whole …
Paul Kunert, 14 Apr 2016
Marissa Meyer

Daily! Mail! eyes! up! Yahoo!'s news! arm!

The Daily Mail Group Trust (DMGT) confirmed on 11 April that is discussing a bid for Yahoo, one of a number of suitors to be eyeing up the troubled biz. In a statement the DMGT said: "Discussions are at a very early stage and that there is no certainty that any transaction will take place. We have no further comment at this …
Kat Hall, 11 Apr 2016

EMC said to be ditching Documentum business

EMC-Dell deal EMC’s Documentum business may be up for sale, as part of a non-core asset-ditching process during the Dell-EMC coming together. Bloomberg cites people familiar with the matter in a report claiming EMC will spin off Documentum while Dell will sell Sonicwall and Quest as a way of helping to lower the costs of the Dell-EMC …
Chris Mellor, 07 Apr 2016

Yahoo! Starts! Sale! Process! To! Fend! Off! Starboard!

Yahoo! has been accused of getting serious about the contentious slow-motion train wreck that is its sale process. The Wall Street Journal reckons the recent threat by activist investor Starboard to sack the board of directors has had its intended effect. The Purple Palace has now set a bid deadline of April 11, for …
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Web hosting and domain name merchant UK2 Group puts up for sale sign

Hosting and domain name registrar UK2 Group is using the services of an investment banker to find a buyer - the second such attempt in a year, sources have claimed. Torch Partners is running the process on behalf of owner LDC, the mid-market private equity wing of Lloyds Banking Group, which took a majority stake in the group …
Paul Kunert, 24 Mar 2016
Sunset

Ex-archiver striver Crossroads: Time to sell all the products

Crossroads Systems has sold its StrongBox archiving products business to StrongBox Data Solutions, Inc. of Canada for just $1.85m in cash. That's just $50,000 more than last quarter's $1.8m revenues, from which Crossroads recorded a $538,000 loss. In the prior three quarters of its fiscal 2015 year, losses had exceeded …
Chris Mellor, 23 Mar 2016
Apple iPod touch

Apple's largest UK reseller Jigsaw24 is for sale

The UK’s largest Apple reseller, Jigsaw24, is for sale, multiple industry contacts have told The Channel. The Nottingham-based B2B seller has hired Deloitte to run the process, a move that comes just three years after private equity outfit NorthEdge Capital (NEC) moved in to back a roll up by the management team. In recent …
Paul Kunert, 18 Mar 2016
Antares launch

Pivot3 bags $54.6m. What'll it do now? Try to take over all-flash hyperconverged world

+Comment Ageing startup Pivot3, fresh from buying all-flash and hybrid array startup Nexgen has taken in a whopping $54.6m of fresh funding. It's a mix of equity and bank financing and takes its total funding, since being founded in 2003, to almost a quarter of a billion dollars – $247.04m by our reckoning – with this latest financing …
Chris Mellor, 15 Mar 2016
Man runs as a fire engine pulls up to a burning building. Pic by Shutterstock

Official: Toshiba pulls out of European consumer PC market

Exclusive Scandal-hit Toshiba is slashing jobs across Europe as it beats a retreat from the region’s consumer PC market. Retailers are honouring existing orders for the first quarter of this year but are not placing any further ones, sources told us. Staff have been notified of the planned redundancies and a number put at risk. “We are …
Paul Kunert, 26 Feb 2016
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Wanna buy an MSP? Attenda hangs 'for sale' sign round its neck

App hosting, co-lo and managed service provider Attenda is coming onto the market for sale in what is already shaping up to be another year of frenzied M&A activity in the UK tech industry. The Staines-based organisation was due to be put up for sale by owner Darwin Private Equity last year but postponed proceedings amid talk …
Paul Kunert, 22 Feb 2016
Exit sign. Pic:  Lukas Kästner

Toshiba denies it will exit the PC market

Toshiba is denying Japanese reports that it will exit the PC business. The company is restructuring in the wake of an accounting scandal in which it overstated profit by $2bn over seven years. To any outsider, the cutthroat PC market would seem a good place to start, The company is the world’s seventh biggest PC maker, …
Drew Cullen, 16 Feb 2016
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Microsoft seller Trustmarque seeks private equity sugar daddy

Exclusive Trustmarque is erecting a for sale sign outside corporate HQ as the management team looks for a new private equity backer to fund a buy-out. The volume licensing reseller-cum-managed services outfit is currently backed by Endless LLP, which swooped for the York-HQ’d business when it faced well publicised cash-flow challenges …
Paul Kunert, 12 Feb 2016

Imation flogs off IronKey to Kingston

Imation has unravelled one of ex-CEO Mark Lucas's recovery strategy acquisitions and sold the IronKey business to Kingston. It's also received a non-compliance listing notice from the New York Stock Exchange; its valuation not being high enough. Lucas bought IronKey and its secure flash drive hardware as part of a …
Chris Mellor, 08 Feb 2016
decline

Symantec's definition of transformation: Take the profit made a year ago and burn a quarter of it

Symantec has announced its results for the third quarter of fiscal 2016 and they aren't looking pretty. Revenues are down 6 per cent and profits plummeted by 23 per cent. In a conference call following the earnings announcement, CEO Michael Brown said the Silicon Valley firm was well on its way with a three-year restructuring …
Iain Thomson, 05 Feb 2016

Stylish Vaio biz mobe is flying this way – ah, it's got Windows 10 inside

Last year Sony offloaded its Vaio PC division and brand, and it was snapped up by a private equity outfit. The new owner promised to make luxury tech hardware that was irresistibly attractive. It's now unveiled its first Vaio phone, a stylish aluminium design, aimed at business people. What can go wrong? Well, nothing. Apart …
Andrew Orlowski, 04 Feb 2016

Speednames 'fesses up, admits customers' emails are borked

Customers of Speednames, the subsidiary of domain name registration firm NetNames, have been unable to receive emails since yesterday. On its status page the company said “it is currently not possible to receive emails at present.” Outgoing messages are being sent successfully but it warned that incoming emails sent to …
Kat Hall, 04 Feb 2016
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All is not well on Mount Panasas: Five execs eject amid refocus

Exclusive Panasas – the privately owned hybrid scale-out NAS appliance supplier – has suffered exec exits and is refocussing, but so far won't say what its new strategy is. We contacted the firm after hearing rumors from a senior industry source about IP sales, but it was unable to respond until February 4. We did pick up hints of some …
Chris Mellor, 03 Feb 2016

Perforce boss: ‘I’m just the cook’, flips firm to private equity

Perforce Software’s founder has given up the reins of the company - and its privately held status - and sold the firm to group Summit Partners. As well as a lump of cash, the 21-year-old software lifecycle management outfit gets a new CEO, in the shape of industry veteran Janet Dryer. In a blog post, Perforce founder and …
Joe Fay, 02 Feb 2016
Battleship broadside

Syncer and (flash) shipper feeling chipper: We're going great guns

Private equity-owned file sync 'n' sharer Syncplicity and flash array shipper Kaminario both say they are doing well. Syncplicity was sold off by EMC to Skyview Capital last June, and focuses on enterprises and their mobile device users, paying attention to security needs. CEO Jonathan Huberman says Syncplicity's new bookings …
Chris Mellor, 02 Feb 2016
Sprint

Pivot3 pivots, buys NexGen

Analysis In a major pivot, all-flash and hybrid array startup NexGen is merging with hyper-converged infrastructure appliance software startup Pivot3 in a cash-free stock merger. When startups merge that’s generally a sign that the original mission is failing and/or the backing VCS are getting nervous. What makes this more surprising …
Chris Mellor, 28 Jan 2016
hands waving dollar bills in the air

Riverbed slurps German SD-WAN expert Ocedo

Riverbed has announced its first acquisition since 2013: German-based software-defined wide area network (SD-WAN) outfit Ocedo. Ocedo's software suite includes hybrid WAN, various provisioning tools, a connectivity solution designed for AWS users, and a cloudy firewall. Its pitch is that SD-WANs offer better performance than …
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Onyx to erect 'for sale' sign outside corp HQ, say sources

Data centre and hosting slinger Onyx will erect a "for sale" sign outside its Stockton-on-Tees HQ in 2016, and the expectation from multiple sources is this will happen sooner rather than later. The private equity-backed business is working with adviser Deloitte to run the sale but as yet no Information Memorandum has been …
Paul Kunert, 19 Jan 2016
recruitment_hired

NetNames hires turnaround king Steve Vaughan

Self-anointed turnaround expert Steve Vaughan has parachuted into NetNames as non-exec chairman, presumably to improve things at the loss-making domain name registration firm. Vaughan has a track record of saving ailing companies, and managed to improve the fortunes of Phoenix IT Group, stemming the losses and preparing it for …
Paul Kunert, 15 Jan 2016
Boardroom_and_directors

Basho bashed by bolshy backer, ex-boss claims in court brouhaha

Basho Technologies is being sued by its cofounding ex-CEO, who alleges a major investor caused a disastrous fall in the company's finances. Antony Falco and Earl Galleher founded Basho in 2008. The biz, based in Bellevue, Washington, develops the Riak distributed NoSQL database that can store massive amounts of unstructured …
Chris Mellor, 08 Jan 2016