Articles about Private Equity

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
money notes lifted up

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
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

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

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
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

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
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

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
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

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
hands waving dollar bills in the air

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
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
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

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

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 …
£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
channel_teaser_exit

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
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," …
grab_that_cash

We're not, er, 'cut-throat' capitalists – VC formerly known as ISIS

Not wanting to be confused with the vicious band of Middle Eastern warmongerers, ISIS Equity Partners has killed off its old brand, and is now answering the phones as Living Bridge. The name change was for fairly obvious reasons, as the venture capitalist doesn’t want to be associated with, er, blood-thirty, medieval cut-throats …
Paul Kunert, 21 Nov 2014
channel_teaser_money_top

NHS supplier Trustmarque seeks backers after accounting change

The future of major NHS supplier Trustmarque looks less certain after private equity backer Dunedin confirmed that a change in the way revenue is recognised has created a “funding gap”. The venture capitalist was the vital cog in the £43m management buy-out at York-headquartered Trustmarque, a top table Microsoft partner that …
Paul Kunert, 02 Sep 2014

Hungry UK IT biz, VC firm to swallow former Ericsson arm Damovo – sources

Privately owned Daisy Group is very close to making the British arm of comms integrator Damovo its 47th conquest, sources are telling us. Lancashire-based Daisy pulled its shares off AIM last week and will next month take delivery of a new chief exec in the shape of outgoing Computacenter UK managing director Neil Muller. A " …
Paul Kunert, 28 Jan 2015

UK biz Six Degrees puts up 'For Sale' sign outside corporate HQ

A sales process is under way at mid-market managed voice and data hosting biz Six Degrees, with a corporate financier appointed to sniff out interested buyers. Private equity backer Penta Capital is eyeing up the exit route four years after stumping up £60m to back the former management team at SpiriTel to execute a buy-and- …
Paul Kunert, 05 Feb 2015

Daisy Group: so long AIM, it's been emotional, sort of

The soon-to-be-private B2B comms and tech supplier Daisy Group confirmed this morning that its shares will be yanked from the Alternative Investment Market from 22 January. The previously agreed 185-pence per share offer from a consortium led by CEO Matthew Riley was declared unconditional this month, valuing the firm at £494m …
Paul Kunert, 19 Dec 2014
channel_teaser_money_top

Hungry Advanced Computer Software gets swallowed for £725m

Acquisition-hungry Advanced Computer Software (ACS) has itself been acquired by private equity firm Vista for £725m. Vin Murria, chief executive of the healthcare and biz management software and services firm, said the deal would help ACS move to its "next stage of its growth". She said: "ACS' value has grown from £32m to £725m …
Kat Hall, 25 Nov 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
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

Veritas fills another seat on EMEA exec jet

Veritas has inserted industry veteran Gareth Hansford into the top boss slot for EMEA channels, as the organisation continues to disentangle itself from Symantec. This is a return to vendor land for Hansford, who worked at distie Azlan for 20 months before he left in February amid a restructure. Prior to that he held senior …
Paul Kunert, 17 Apr 2015
management strategy2

Avaya lures BT director to conduct service provider orchestra

Channel old timer Steve Rafferty has quit BT and is on the way to Avaya as EMEA sales director for service providers and systems integrators. Rafferty started at SCC in new business sales, moved to Software AG and ArmourSoft before heading back to the Midland-based reseller, before being whisked off his feet by BT where he held …
Paul Kunert, 10 Apr 2015
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 …
David Petraeus and Paula Broadwell

Licence to chill: Ex-CIA spyboss Petraeus gets probation for leaking US secrets to his mistress

General David Petraeus – the former head of US forces in Iraq and Afghanistan and briefly the head of the CIA – has been sentenced to two years' probation and fined $100,000 after admitting leaking America's secrets to his lover. Married Petraeus, 62, handed over military logs containing classified material to his official …
Iain Thomson, 24 Apr 2015

Shouty investor Elliott looms over software veteran Informatica

+Comment Elliott Management, the activist investor with its hooks into EMC, appears to have settled on Informatica as its next likely target for shareholder gains glory. It's the usual deal of building a holding (eight per cent in this case), analysing the company's business, speaking to the board, and then writing a letter to management …
Chris Mellor, 29 Jan 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

Adapt Managed Services to be sold this year, whisper sources

Managed services and cloudy hosting biz Adapt is putting corporate finance houses through their paces before choosing one to manage a sale of the operation. Private equity firm Lyceum Capital coughed £30m for a majority stake in London-based Adapt in 2011 and multiple sources reckon the business will be on the market again from …
Paul Kunert, 21 Apr 2015

Phones 4u demise: 1,700 employees laid off with redundo package

The axe fell on nearly 1,700 jobs at Phones 4u last night, a little over a week after the High Street retailer went into administration. It brings the total number of staff laid off with redundancy packages so far to 2,325 – nearly half of the company's workers. The staffers had been based at 700 outlets, including 550 stores, …
Kelly Fiveash, 23 Sep 2014

BMC Software flings patent sueball at ServiceNow

Newly private BMC Software is taking ServiceNow to court, claiming its up-and-coming enterprise help-desk rival trampled over its sacred patents. BMC has accused ServiceNow of violating seven of its patents (5,978,594, 6,816,898, 6,895,586, 7,062,683, 7,617,073, 8,646,093 and 8,674,992), spanning incident management, performance …
Gavin Clarke, 24 Sep 2014
HP CEO Meg Whitman

HP seeks to sell chunk of China networking biz: Report

HP is reportedly on the lookout for an Asian suitor to buy a majority of the company's stake in its China-based H3C Technologies. According to the Wall Street Journal, citing people familiar with the matter, HP is in tentative talks with private equity outfits in the People's Republic. The apparent move comes after HP confirmed …
Team Register, 26 Oct 2014

US reseller titan buys minority stake in Kelway MBO – sources

Exclusive One of the largest US resellers, CDW, has crossed the Atlantic to take a minority stake in mid-market focused tech supplier Kelway, The Channel can reveal. OOPS! The sales process began in earnest back in January when Kelway appointed US investment bank William Blair to put together a 97-page Information Memorandum and oversee …
Paul Kunert, 06 Nov 2014

Calyx Managed Services break-up begins. Just like we told you

The expected break-up of Calyx Managed Services has started, with the maintenance and carrier services divisions offloaded to Daisy Group and Chess Ltd respectively for a total of £5.5m in cash. It always seemed inevitable that Calyx MS would be carved up and sold off when private equity fund MXC Capital paid £9m to buy the …
Paul Kunert, 24 Mar 2015
cloud

Seagate ends talks to go private

Comment 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

Daisy Group: we'll double our biz inside 5 years

The now privately-owned B2B comms and tech biz Daisy Group is looking for the incoming CEO to plot a course to rule the SME customer space within the next half a decade. The Lancashire-based company today removed itself from trading on AIM in a buy backed by founder and current CEO Matthew Riley - he is soon to become chairman …
Paul Kunert, 22 Jan 2015