Today’s top news is that a tentative agreement has been reached by the feuding Hatfields, McCoys, Dimons, Fulds, Langones and every other party involved in the Home Depot Supply sale. The original $10.3 billion price-tag has been knocked to $8.5 billion, with Home Depot expected to retain a 12.5% position. Three quick reactions: 1. The […]
Dunkin Brands Inc. has agreed to acquire the 50% stake in its Spanish affiliate
AKQA Inc., a San Francisco-based interactive marketing company, has acquired search marketing company Searchrev, according to The Wall Street Journal. General Atlantic bought AKQA earlier this year for between $200 million and $250 million from Francisco Partners. www.akqa.com www.searchrev.com
[Monday update] It looks like negotiations on the Home Depot Supply sale will drag into the weekend, as the three-headed monster continues to bicker with itself. One head is Home Depot, which was the first to blink by entertaining the notion of a $1.2 billion price reduction. It seems that its entertainment is serious enough to be deemed an upper-crust dinner […]
I was on CNBC this morning to discuss how hedge funds are forming side vehicles to invest in public companies that already have agreed to go private. As I’ve been saying for over a month – almost all of these deals will get done, so such a strategy is smart (although would have been smarter […]
Mattress Firm, a mattress retailer owned by J.W. Childs Associates, has agreed to acquire Mattress Pro, a mattress chain with 35 locations in Texas and Nevada. No financial terms were disclosed. www.mattressfirm.com
Senior Solution, a provider of software for the Brazilian financial services market, has acquired rival Intellectual Capital. No financial terms were disclosed. Senior Solutions shareholders include Stratus VC and the Brazilian National Development Bank. www.seniorsolution.com.br
Advanced Communications Technologies Inc. (OTC BB: ADVC), a New York-based provider of reverse logistics for consumer electronics, has acquired Vance Baldwin Electronics, a Fort Lauderdale, Fla.-based OEM parts distributor. The deal was largely financed by a $30 million PIPE infusion from H.I.G. Capital and the issuance of senior and subordinated notes to a syndicate arranged […]
Travelport Ltd., a owner of travel services company Galileo and Orbitz.com, has completed its $1.4 billion acquisition of travel-booking service Worldspan. Blackstone Group and Technology Crossover Ventures bought Travelport from Cendant earlier this year for $4.3 billion. Court Square Capital and Teachers' Private Capital bought Worldspan in 2004 for around $900 million from Delta Airlines, […]
SunGard has completed its acquisition of VeriCenter Inc., a Houston, Texas-based provider of managed services, application hosting and IT infrastructure outsourcing. No financial terms were disclosed. SunGard was acquired in 2005 by seven private equity firms, while VeriCenter had raised around $23.5 million in VC funding from BMC Software, Broadband Venture Partners, Intel Capital and Pharos Capital […]