Providence Equity Partners related stories
All articles and analysis
- Weil, Gotshal Raids Clifford Chance Funds Team
Four partners from Clifford Chance have bolted the law firm to join Weil, Gotshal & Manges. Ed Gander, Nick Benson, Nigel Clark and Jonathan Kandel resigned from Clifford Chance and will launch a funds formation practice for Weil, Gotshal in London.
- Providence, Warburg Take Small Win on $1.15B Telcordia Deal
Providence Equity Partners and Warburg Pincus are exiting Telcordia Technologies after six years. Ericsson said today that it is buying the telecom services provider http://www.ericsson.com/news/1523267 for $1.15 billion cash. Piscataway, N.J.-based Telcordia provides mobile, broadband and enterprise communications software and services. It produced $739 million revenue for the fiscal year ended Jan. 31, 2011. Providence and Warburg acquired Telcordia in 2005 for $1.35 billion. Each PE firm put in $150 million equity for a combined $300 million, a source says. The rest of the deal was paid using debt.http://www.persi.state.id.us/documents/3Q10AlternativeInvestmentReport.pdf
- PE-Backed Edline Buys TH(i)NQ Ed
Edline, which is backed by buyout shop Providence Equity Partners, has acquired online education company TH(i)NQ Ed. Both Edline and TH(i)NQ ED develop online products designed for K-12 education. Terms of the deal were not released. MHT Partners served as Edline’s exclusive financial advisor in the transaction.
- Trillium Capital Bids for Stream Global
Wellesley, Mass.-based Trillium Capital said Thursday that it had submitted a proposal to buy Stream Global Services Inc. The firm offered $4.65 per share in cash, plus assumption or replacement of its $200 million high yield bonds due 2014, the firm said in a written release. Stream Global provides business process outsourcing services. Kaufman Bros. is Trillium’s financial advisor on the deal.
- Levy to Newbury Partners
Newbury Partners, the Connecticut-based private equity secondary market investor, has added Andrew Levy to its team as a managing director. Previously, Levy worked with Auda Private Equity, where he worked on secondaries and co-investments.