SunGard has acquired Integrated Business Systems Inc., a Melville, N.Y.-based provider of software solutions and related services to hedge funds. No financial terms were disclosed. SunGard was acquired last year in a public-to-private buyout by Silver Lake Partners, AlpInvest, Bain Capital, Blackstone Group, Goldman Sachs, HarbourVest Partners, KKR, Providence Equity Partners and Texas Pacific Group. […]
GXS, a Gaithersburg, Md.-based provider of B2B ecommerce solutions, has acquired UDEX Ltd., a Newport, UK-based provider of product data quality services. No financial terms were disclosed. GXS is a portfolio company of Francisco Partners and Norwest Venture Partners, while UDEX had raised over $20 million in VC funding from firms like 3i Group, Northbridge […]
Mailnet Services Inc., a Franklin, Tenn.-based multi-channel marketing company, has acquired database marketing and analytics firms Synapse Technology and Conclusive Strategies. The deals were partially financed via $8 million in growth capital from Frontier Capital, Morgan Keegan Mezzanine Fund and return backer Massey Burch. www.mailnetservices.com
National Paintball Supply Inc. of Sewell, N.J. has merged with fellow paintball company Pursuit Marketing Inc. of Des Plaines, Illinois. No financial terms were disclosed for the deal, which was backed by equity from Angelo, Gordon & Co. www.nationalpaintball.com
Andrew Ross Sorkin of NY Times Dealbook has developed some middle ground between Ben Stein’s call for banning management buyouts and the private equity market’s calls for continued regulatory indifference. Specifically, he has a four-part plan for fixing certain problems inherent in management buyouts. It goes like this: 1. Require that a majority of minority shareholders approve the […]
It’s now been two days since a few disgruntled shareholders filed what they hope will become a class-action lawsuit against 13 top private equity firms. I hope that it doesn’t. To be clear, I am not an apologist for private equity firms. I think many of them charge unfair transaction fees to their limited partners, and […]
Vendio Services Inc., a San Mateo, Calif.-based provider of transactional management services for online merchants, has completed its acquisition of Andale Inc., a Mountain View, Calif.
During the White House Correspondents Dinner earlier this year, emcee Steven Colbert said of President Bush: “He believes on Wednesday exactly what he believed on Monday, regardless of what happened on Tuesday.” Kind of reminds me of what I keep seeing on the private equity beat. The first example came last month, when Sevin Rosen […]
Heartland Information Services of Toledo, Ohio has merged with Spryance Inc. of Boston, in order to form a single provider of offshore transcription services. No financial terms were disclosed. Spryance shareholders include Beecken Petty O'Keefe & Co. and International Finance Corp. www.heartlandis.com www.spryance.com
While the Department of Justice continues its primer course on private equity, some individual shareholders are taking action against perceived abuses. Three people have filed what they hope to be a class-action lawsuit against 13 private equity firms, for allegedly violating federal antitrust laws. The plaintiffs are/were shareholders in such companies as HCA, Harrah’s and […]