Mubadala Development Company has agreed to acquire a 9 percent equity stake in The Raine Group LLC, a firm which they seeks to capitalize on emerging investment opportunities in the media, entertainment and sports sectors around the world. Mubadala Development Company and William Morris Agency will be investors in Raine alongside private equity pioneer Ted Forstmann. Raine, a boutique merchant bank, was founded by Joe Ravitch, former senior partner and global head of media at Goldman Sachs, and Jeff Sine, former Vice-Chairman and global head of Technology, Media & Telecom at UBS.
2 min read · 12 March 2010
2 min read · 12 March 2010
Willbros Group, Inc. agreed to acquire InfrastruX Group, Inc., a utilities services company backed by Tenaska Capital Management, for $480 million in cash and stock. The company had previously filed to undergo a $290 million IPO. Tenaska acquired InfrastruX from Puget Energy Inc for $275 million in 2006.
7 min read · 12 March 2010
SunGard has acquired 365 Hosting Limited, a Dublin, Ireland-based cloud computing and data centre services company which trades as ‘Hosting 365’. Terms were not disclosed. SunGard was acquired for $11.4 billion in 2005 by Bain Capital, Blackstone Group, GS Capital Partners, KKR, Providence Equity Partners, Silver Lake Partners and TPG Capital.
4 min read · 12 March 2010
Hopes for a recovering auto industry buoyed car parts maker Sensata Technologies Holding (ST.N) in its market debut on Thursday, sending its shares up as much as 5.6 percent.
3 min read · 12 March 2010
Courts Asia, a Singapore and Malaysia-based furniture and electronics retailer, is planning to raise more than $100 million in a Singapore initial public offering, Reuters reported. Courts was taken over in 2008 by Asia Retail Group, an entity partly owned by Barings Private Equity.
1 min read · 12 March 2010
E-learning software maker SkillSoft Plc (SKIL.O) said the $1.1 billion offer made by a group of private-equity firms was the only option left at the end of its go-shop period, disappointing investors who were expecting better. The news sent the American depositary shares of the company down more than 5 percent on heavy volumes on Thursday. The cash offer of $10.80 per share was made last month by SSI Investments III Ltd, a company formed by funds owned by Berkshire Partners, Advent International and Bain Capital.
2 min read · 12 March 2010
2 min read · 12 March 2010
5 min read · 12 March 2010
Top tier European venture capital firm DFJ Esprit has announced today the appointment of Mikko Suonenlahti, who joins the team as a Senior Adviser, focusing on investments in the B2B and B2C software, med-tech, Bio-IT and energy efficiency.
2 min read · 12 March 2010
