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
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Six Degrees grabs £12m pot of cash from private equity overlord

The private equity backer that coughed for hosting and managed services outfit Six Degrees has stumped up £12m to fund organic expansion in 2016. The cash injection comes half a year after Charlesbank Capital Partners beat off competition from other finance houses to buy Six Degrees - the sale process started in February and …
Paul Kunert, 05 Jan 2016

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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Capita and private equity biz circling, sniffing around Xchanging

What a place employees at troubled Xchanging find themselves this morning: both Capita and private equity firm Apollo Global are bidding to buy the LSE-listed tech biz. The insurance market BPO specialist and software provider confirmed to the City this morning it has permitted both businesses to look under the hood. …
Paul Kunert, 05 Oct 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
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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

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
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
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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
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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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Serco CEO Soames brags about £250m sale of BPO private sector biz

Scandal-hit Serco has finally resold its private-sector business process outsourcing (BPO) division to the previous private equity owner Blackstone for £250m, equating to a loss of £165m. The division consists of middle and back-office skills across customer contact, transaction and financial processing, as well as related …
Paul Kunert, 16 Sep 2015
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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
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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
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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

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

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 …

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
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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
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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

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

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

Sorry Xchanging staff, only Capita at negotiating table now

Tiny cries of anguish might have been heard across the City today as one of the suitors for London-based Xchanging confirmed it is standing up from the negotiating table, leaving only Capita seated. LSE-listed Xchanging confirmed last month it had accepted Capita’s offer of 160 pence per share offer, valuing the BPO and …
Paul Kunert, 04 Nov 2015
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Story to write next chapter for Civica Group

Specialist software and outsourced services slinger Civica Group has hired former Capita exec Wayne Story to take charge of the UK sub. Most recently, Story was interim CEO at equity-based plan admin services outfit Equatex, and remains non-exec director at Montagu Private Equity and board chair at recruiter GatenbySanderson …
Paul Kunert, 21 Sep 2015

Dick limps towards inglorious end: Gadget retailer on the brink

Updated Troubled gadget retailer Dick Smith Electronics is teetering on the brink, with banks sending in receivers after the company requested a trading halt. The company has appointed McGrath Nicol as its voluntary administrator, and lenders HSBC and NAB have sent in Ferrier Hodgson's James Stewart as receiver. Dick Smith …
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Capita gets green light to acquire Xchanging

The powers that be at LSE-listed BPO and software provider Xchanging have accepted a formal 160 pence per share bid from Capita, despite it being lower than one from a private equity player. Last week, Xchanging confirmed it had received approaches from the Brit outsourcing giant and a 170 pence per share offer from Apollo …
Paul Kunert, 14 Oct 2015
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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
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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
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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
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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 …

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
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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
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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
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Civica splashes the cash on 'good fit' Web Technologies

Public sector IT outfit Civica has gobbled up IT services minnow Web Technologies Group for what is thought to be approximately £10m. Simon Downing, chief exec of Civica, said the deal will extend Civica's capability in central government. Meanwhile, James Steventon, chief executive of WTG, said having "the backing of Civica …
Kat Hall, 09 Sep 2015

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

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). …
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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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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
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Alibaba presses 'play' on multi-billion video host buy

China's Alibaba is going to sling roughly US$3.67 billion at the country's “YouTube equivalent”, Youku Tudou, to buy a half-billion video clicks via the 80-plus per cent of the company it doesn't already own. The South China Morning Post says the Middle Kingdom's “largest online video services provider” will be taken private …
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

Wick Hill grabs majority stake in networking distie Zycko

The Bank of Rigby has followed up its summer slurp of security virtuoso Wick Hill by similarly taking a majority stake in specialist networking and UC distie Zycko for an undisclosed sum. Rigby Private Equity – part of the Midlands-based business empire amassed by Brummie tycoon Sir Peter Rigby – launched in July, as …
Paul Kunert, 04 Dec 2015
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Accenture barges way into cloud market, buys Cloud Sherpas

Bloated integrator-cum-consultancy Accenture has gulped down cloud advisory and tech services outfit Cloud Sherpas for an undisclosed fee, signalling the start of major consolidation in this part of the market. Privately-owned Cloud Sherpas was born in 2007 and has expanded commercially and geographically over the years via …
Paul Kunert, 15 Sep 2015
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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

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 …