Providence Equity Partners related stories
All articles and analysis
Buying a slice of the PE pieThe practice of buying minority positions in private equity firms is picking up, with more deals expected on the horizon.
Did Bush turn his back on PE donors?Some Bush backers are looking for another candidate after he put forth a tax plan that would eliminate the deduction for interest payments and hike the rate on carried interest.
Providence, Indosat vie for up to $1 billion Link Net stake: ReutersProvidence Equity Partners and PT Indosat Tbk are the only bidders for a majority stake in Indonesian TV and broadband operator PT Link Net Tbk after the up to $1 billion price tag put off other potential buyers, Reuters News reported.
- SRA International to merge with CSC government services unit
CSC said Monday that it has agreed to combine its government services unit with SRA International. Fairfax, Virginia-based SRA is owned by Providence Equity Partners and SRA's founder, Dr. Ernst Volgenau, as well as members of its management team. The combined company will be a IT services provider serving the U.S. government sector, with combined FY15 revenues of about $5.5 billion and nearly 19,000 employees. SRA shareholders, including Providence, Volgenau and members of SRA management, will own 15.32 percent of the combined company and receive $390 million in cash. MUFG, through The Bank of Tokyo-Mitsubishi UFJ, Ltd., and RBC Capital Markets are providing debt financing.
- Providence to sell IRONMAN after seven-year hold
Chinese conglomerate Dalian Wanda Group has agreed to acquire endurance race event brand IRONMAN from Providence Equity Partners for an equity value of about $650 million. Wanda Group will assume IRONMAN's existing debt. Providence held the business for seven years.
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 context
The seven buyout shops that acquired SunGard for $11.4 billion 10 years ago stand to make just 1.65x their money, several sources said.
- 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.
- VISANOW hires former Madison Dearborn exec as CFO
Chicago-based VISANOW, a provider of online immigration services in the U.S., has named Brittany Smith as chief financial officer. Previously, Smith worked at Madison Dearborn Partners where she served as a director in the technology, media and telecom services group.