Providence Equity Partners related stories
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Change in Kabel Deutschland BoardKabel Deutschland has announced a change in the company’s supervisory board. Ian West and the representatives of Providence Equity Partners John Hahn, Biswajit Subramanian and Robert Sudo will be leaving the supervisory board of Kabel Deutschland Holding AG. They will resign their positions effective October 31, 2011.
- Providence Equity Completes Blackboard Deal
Providence Equity Partners has completed its acquisition of Blackboard Inc. The cash deal was valued at $1.64 billion in enterprise value, plus the assumption of $136 million in debt. The purchase price, at $45 per share, represented a 21% premium over the company’s closing price in April. Barclays Capital acted as financial advisor to Blackboard.
- Slideshow: PE-Backed M&A Jumps in Q3 and Here's the Top 5 Deals
The value of U.S. announced M&A transactions dropped 9.4% in third quarter, while PE-backed deals showed gains, according to data from Dealogic. There were 2,662 U.S. M&A deals in third quarter, totaling $239.7 billion. This compares to 2,344 transactions valued at about $264.6 billion for the same time period in 2010, Dealogic says. Third quarter's deal values were also off about 6% from Q2 when 2,614 transactions totaled $254.5 billion, Dealogic says. PE-backed deals showed increases in both deal value (up 14.2%) and the number of deals (up 11%). Private equity was involved in 162 transactions in Q3, valued at $21.7 billion. This compares to 146 deals in third quarter of 2010 that totaled about $19 billion. But the value and number of PE-backed deals declined from second quarter when 151 transactions totaled $23.8 billion. Here's the top 5 U.S. announced PE deals for third quarter.
- Advent, Bain in Running for Point International
Advent International and Bain Capital are in the running to buy Point International, a payments company owned by Nordic Capital, Reuters reported Tuesday. The two private equity firms have teamed up on a bid. The company is expected to fetch roughly 700 million euros ($930 million), and final bids are expected this month.
- Actis Boosts Asia Operations, Adding Fong, Or
Private equity shop Actis has added Chester Fong as a senior adviser and Angus Or as director of operations in Asia, Reuters reported. Hong Kong-based Fong, an executive at Colgate-Palmolive, will advise on investments and portfolio management for Actis' consumer team, while retaining his role as chairman of Colgate's Greater China business, Reuters wrote. Or joins as a director from Heinz China.