Ant Capital Partners in ¥5.8bn take-private

The private equity firm has acquired a 97% stake in Japanese information technology company VarioSecure Networks.

Tokyo-based Ant Capital Partners has delisted Japanese network security company VarioSecure Networks for approximately ¥5.8 billion ($64 million; €44 million).

Listed on the Osaka stock exchange in 2006, VarioSecure develops and leases network security equipment and provides security services in areas such as management, monitoring and support.

The investment gives the firm a 97.15 percent stake in the company and was made out of the ¥60 billion ant Catalyzer No. 3, which was launched in June 2006, Nick Kondo, a partner at Ant Capital Partners, said in an interview.

The firm’s takeover bid on 30 July was ¥100,000 per share, a 30 percent premium on the closing price the day before, Kondo noted. VarioSecure was valued at roughly $59 million, he added.

“Deal flow is picking up in all segments and we see more deals on the way although we live in a climate of small to mid-sized deals. However, we have a Japanese saying that goes you have rocks and diamonds all mixed in,” he said, referring to the various kinds of deals available.

Ant Capital Partners, which was formerly known as Nikko Antfactory spun out of Nikko Citi Holding in October 2008. It manages assets of about $1.4 billion.