For years, communications networking has been pretty much a one-way investment bet. That is, money went into startups, but very little came back out. In recent weeks though, that’s been changing. At least three companies in the sector have gone public in the past three weeks, and others are waiting in the wings. Overall, market reception has been warm. Shares in wireless network provider Meru Networks closed up 28% in first-day trading on March 31, with shares trading in a narrow range since. Sunnyvale, Calif.-based Meru which sells wireless LAN equipment, raised $66 million in a Nasdaq offering. Principle shareholders include Clearstone Venture Partners (21% stake), Vision Opportunity Master Fund (19%), NeoCarta Ventures (18%) Bluestream Ventures (16%) and D.E. Shaw (16%). Meru has raised $171 million in venture funding since 2002. Telecom equipment maker Calix Networks also posted double-digit gains in its debut a week earlier. Calix, a Petaluma, Calif.-based provider of communications access systems and software, priced its 6.3 million shares offering at $13 per share, the high end of its proposed range. The stock closed up 16% in first-day
NEW YORK (Reuters) – Zale Corp’s (ZLC.N) shares jumped after a report said that the jewelry store operator was in talks with three finalists to take a stake in the retailer. Zale shares were up 48 cents, or 16.4 percent, in afternoon trading on the New York Stock Exchange. Private equity firms TPG and Golden […]
Telecorps, a provider of entertainment production and post-production equipment rental and related services, has acquired postproduction facility Laser-Pacific Media Corp. from Eastman Kodak. No financial terms were disclosed. Telecorps is a portfolio company of H.I.G. Capital.
Here are some potential target ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts “Seeking Buyers” list. Petroplus Holdings AG, an independent refiner based in Europe, is evaluating strategic alternatives at its Reichstett Refinery. Infratek ASA, a Norwegian electrical contractor, hired Carnegie ASA to advise it on the exploration of strategic alternatives. Anchor BanCorp Wisconsin Inc., a Nasdaq-traded bank based in Wisconsin, hired Sandler O'Neill Partners to advise it on the exploration of strategic alternatives. AOL is deciding on an exit strategy for Bebo, a social networking service it acquired for $850 million two years ago. The company will either sell or close the company. AOL is also selling ICQ, an instant messaging service reportedly worth $300 million. Three companies have submitted binding offers for the company.
Landis+Gyr, a Switerland-based provider of electricity metering and smart meter solutions, has raised $165 million in private equity funding led by DLJ Merchant Banking Partners.
Mason Dixon Energy, a Bridgeport, West Va.-based provider of land services to oil and gas companies east of the Mississippi River, has raised an undisclosed amount of private equity funding from Hudson Ferry Capital.
NEW YORK (Reuters) – Porter Orlin, a New York-based investment manager, said on Tuesday it wrote a letter to CKE Restaurants’ (CKR.N) board and management, expressing strong dissatisfaction with private equity firm THL Partners’ [THL.UL] plan to take the company private. Porter Orlin, which holds almost 2.3 million shares in CKE, said in the letter […]
MUMBAI (Reuters) – Blackstone Group (BX.N) will invest about $50 million in the parent of media firm Jagran Prakashan (JAGP.BO), as the U.S. private equity group seeks to ride strong growth in India’s print media market, the firms said. The firms did not disclose the size of the stake that Blackstone would take in Jagran […]
(Reuters) – Aeroflex Holding Corp filed with U.S. regulators on Tuesday to raise up to $500 million in an initial public offering of common stock. Plainview, New York-based Aeroflex provides radio frequency and microwave integrated circuits used in wireless communication systems. It said in its prospectus that its customers include Boeing Co (BA.N), Cisco Systems […]
Charts: Why California Pension Managers Shouldn't Be Allowed Near Money. (Paul Kedrosky) Investors ♥ Junk: They can't get enough of high yield bonds. (FT Alphaville) Feature: Private Equity ventures into China. (China Daily) Carried Interest 2.0: If most GPs strongly believe they're top-quartile performers, then does that mean we should change our performance fee equation to 10% carry below 2x? (Private Equiteer) No FUN for Apollo: The firm's deal to acquire Cedar Point has fallen apart on price. Shareholders asked for more; Apollo said no. All this is to say that one of the best stock ticker symbols out there-FUN-will remain afloat, for the time being at least. It remains to be seen if KKR's rumoured buyout of HOG (Harley Davidson) will steal away another good one. (peHUB)