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A 1.65x return after 10 years? Not so bad for SunGard's seven sponsorsThe seven buyout shops that acquired SunGard for $11.4 billion 10 years ago stand to make just 1.65x their money, several sources said.
Not that bad -- putting SunGard exit into contextThe seven buyout shops that acquired SunGard for $11.4 billion 10 years ago stand to make just 1.65x their money, several sources said.
- Nomad to buy Findus Group's European frozen food business
Nomad Foods has agreed to acquire Findus Group's European frozen food business for about 500 million pounds. The sellers, all of whom will receive 8.4 million shares of Nomad at the closing, include Highbridge Principal Strategies, Lion Capital LLP and Sankaty Advisors. UBS Investment Bank and Credit Suisse provided financial advice to Nomad on the transaction.
Fidelity National to buy software maker SunGard in $9.1 bln deal: ReutersFinancial industry software maker Fidelity National Information Services Inc (FIS.N) said it would buy SunGard Data Systems Inc for $9.1 billion including debt, scooping up one of the longest-held investments in private-equity history.
- FIS to buy SunGard in $9.1 bln deal
Fidelity National Information Services Inc (FIS) said Wednesday that it has agreed to buy SunGard in a deal valued at $9.1 billion, including the assumption of debt. Wayne, Pennsylvania-based SunGard is a financial software company with $2.8 billion in annual revenue. Seven private equity firms – Silver Lake, TPG, Bain Capital, KKR, Blackstone Group, Providence Equity Partners and Goldman Sachs’ private equity unit – acquired SunGard in 2005 in a $11.3 billion deal. BofA Merrill Lynch and Centerview Partners LLC acted as financial advisors to FIS. Goldman Sachs & Co., J.P. Morgan Securities LLC, Barclays, Deutsche Bank Securities Inc. and Credit Suisse acted as financial advisors to SunGard.
Talking Deal Prices: Jumbo buyouts from First Data, SunGard seek exits as multiples riseIt’s been an active summer for the pricey LBOs from 2005-2008 that continue to lumber around the dealscape.
PSERS expands co-investment, secondaries program by $50 mlnThe Pennsylvania Public School Employees’ Retirement System allocated up to $250 million to private equity strategies at its Aug. 6 meeting, according to a series of announcements released on its website.
VC Roundtable: Healthcare, fintech and infrastructure are critical areas for security innovationFour VCs discuss trends and opportunities they’re seeing in investing
Deep Dive: Funding into security increases as hacks show no let upInvesting in the general security sector is on an upward trend as recent exits in the space have also taken place
- Private equity firms keen on Singapore's CWT in logistics boom, say sources: Reuters
Private equity firms KKR, Blackstone and Bain Capital have made informal approaches for buying CWT Ltd (CWTD.SI), sources told Reuters, in a deal estimated to value Singapore's largest logistics company at up to S$1.6 billion ($1.2 billion).