Bain Capital investors today are wiring cash to fund the $19.5 billion buyout of Clear Channel Communications (CCU), which follows an earlier capital call notification from Bain partner THL Capital. There also are new reports that Clear Channel, Providence Equity Partners and Wachovia are nearing an amicable agreement on their legal three-way (although CCU lawyers […]
Specific Media, an Irvine, Calif.-based online advertising network, has acquired UK ad network operator Adviva Media Ltd. No financial terms were disclosed. Specific Media last year raised $100 million from Francisco Partners, while Adviva had raised EUR 6.6 million in VC funding from Kennet Partners. PRESS RELEASE Specific Media, the largest independent online advertising network, […]
Ping Identity Corp., a Denver�based provider of Internet identity technology for enabling secure business collaboration, has acquired on-demand identity management company Sxip Access. No financial terms were disclosed. Ping Identity has raised around $30 million in total VC funding, from firms like Appian Ventures, Draper Fisher Jurvetson, General Catalyst Partners, Fidelity Ventures, SAP Ventures and […]
Graphic Packaging Holding Co. (NYSE: GPK) has completed its previously-announced merger with Altivity Packaging LLC, a portfolio company of TPG Capital. The combined company had 2007 pro-forma revenue of approximately $4.4 billion, and provides paperboard packaging solutions to the food, beverage and consumer products industries. Altivity shareholders will hold a 40% stake in the combined […]
SunGard has acquired the corporate payments unit of Payformance Corp., a Jacksonville, Fla.-based provider of payment processing solutions for corporations and health care organizations. No financial terms were disclosed. SunGard was acquired in 2005 by seven private equity firms, while Payformance has raised around $26 million in VC funding from firms like ABS Capital Partners, […]
Totes-Isotoner Corp., a maker of cold-weather accessories like gloves and footwear, has acquired Northern Cap Holdings Inc., a Minneapolis-based maker of branded and private label headwear and gloves. No financial terms were disclosed. Toes-Isotoner is a portfolio company of MidOcean Partners, with Bruckmann, Rosser, Sherrill & Co. holding a minority position. PRESS RELEASE […]
Less than five months after the U.S. team of Standard Life Investments quit en masse, it has reemerged as a new private equity shop called Constitution Capital Partners. The firm will make both fund commitments and co-investments in the small-cap to large-cap buyouts space, with a particular focus on the middle-markets. “This is the same strategy […]
This morning’s big news is that The Blackstone Group (BX) reported a $170 million net loss for Q4, which has helped shove its stock price down below $14 per share in early trading. The question to ask, therefore, is whether Blackstone’s public securities are finally approaching their bottom. “But Dan, you’re not an equity analyst,” […]
Lightower Fiber LLC, a Boxborough, Mass.-based provider of digital fiber optic networks, has agreed to acquire both DataNet Communications Group Inc. and KeySpan Communications. No financial terms were disclosed for the deal, which more than triples Lightower Fiber's available route miles. M/C Venture Partners and Wachovia Capital Partners last year acquired Lightower (then known as […]
Nfocus Neuromedical Inc., a Palo Alto, Calif.-based medical device company focused on hemorrhagic stroke, has acquired StarFire Medical Inc., a maker of therapeutic implantable devices for minimally-invasive treatment of neurovascular disease. No financial terms were disclosed. Nfocus has raised nearly $35 million in total VC funding since 1999, with current shareholders including ePlanet Ventures, […]