Providence Equity Partners related stories
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ICG strikes $170m distressed dealThe secondaries firm purchased a portfolio from Third Avenue Management.
- Blackstone, CPPIB to buy Ascend Learning from Providence, OTPP
Blackstone Group and Canada Pension Plan Investment Board have agreed to acquire Ascend Learning LLC, a Burlington, Massachusetts-based provider of educational content, software and analytics solutions. No financial terms were disclosed; however, Reuters earlier reported the deal is valued at more than $2 billion, including debt. The sellers are Providence Equity Partners and Ontario Teachers’ Pension Plan.
Blackstone, CPPIB to buy Ascend Learning from Providence, OTPPU.S. private equity firm Blackstone Group and Canada Pension Plan Investment Board (CPPIB) have agreed to acquire Ascend Learning LLC, a Burlington, Massachusetts provider of educational content, software and analytics solutions. No financial terms were disclosed; however, Reuters earlier reported http://www.reuters.com/article/us-ascend-learning-m-a-blackstone-group-idUSKBN17F2SE the deal is valued at more than US$2 billion, including debt. The sellers are Providence Equity Partners and Ontario Teachers' Pension Plan (OTPP). Providence, a U.S. private equity firm and Ascend's current majority owner, formed the business in 2010 by merging several companies it had previously acquired.
- Providence Equity-backed Anju Software buys OpenQ assets
Anju Software Inc, which is backed by Providence Equity Partners, has acquired the assets of OpenQ, a provider of key opinion leader data base and software solutions to manage KOLs. No financial terms were disclosed.
- Genstar takes majority stake in Blue Star Sports
Genstar Capital has acquired a majority stake in Blue Star Sports, a provider of sports management software and payment solutions. No financial terms were disclosed. As a result of the transaction, Providence Strategic Growth will retain a "significant" stake in Blue Star. Piper Jaffray and Ropes & Gray advised Genstar on the deal while Harris Williams & Co., Weil Gotshal & Manges, and Morgan, Lewis & Bockius advised current Blue Star shareholders.
- Providence Equity scales back India operations
The US private equity and credit investment firm plans to refocus on the US and Europe.
- Sweden's MTG sells Baltic broadcasting in shift to digital: Reuters
Sweden's MTG has agreed to sell its Baltic broadcasting operations to Providence Equity Partners, the latest deal in its transformation from a traditional broadcaster to a digital entertainment firm, Reuters reported.
- Pantheon warns on long-term Trump effect
Trump 'likely' to be positive for PE in the short-term but firm warns on 'serious impact' for US buyouts if key tax rule is scrapped.
- Providence selling stake in India's Idea for $190 mln: Reuters
A subsidiary of Providence Equity Partners is selling its 3.3 percent stake in India's third-biggest mobile phone carrier Idea Cellular Ltd for at least $190 million, according to a deal term sheet seen by Reuters on Monday.