First read march 11
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peHUB First Read

This morning First Read brings you an analysis of firm versus team performance track record, a need to know about due diligence issues, how dividend taxes affect corporate investment and TPG and Carlyle set to raise over $2 bln in Australia Healthscope IPO.

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KKR agrees to buy Internet Brands

KKR has agreed to acquire Internet Brands from Hellman & Friedman and JMI Equity. No financial terms were disclosed. Internet Brands’ management will hold a minority stake in the business. Headquartered in El Segundo, Calif., Internet Brands is a provider of online media and software solutions.

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PE-backed Innovative acquires VTLS

Innovative (formerly known as Innovative Interfaces), which is backed by HGGC and JMI Equity, has acquired VTLS as an add-on. No financial terms were disclosed. Headquartered in Blackburg, Virginia, VTLS is a library automation solutions provider.

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JMI Equity backs Dean Evans & Associates

Dean Evans & Associates has secured growth funding from JMI Equity. No financial terms were disclosed. Based in Denver, Dean Evans & Associates is a provider of facility scheduling and event management solutions.

Hellman & Friedman to sell HR software firm Kronos – Reuters

Private equity firms Hellman & Friedman and JMI Equity are exploring a sale of human resources management software firm Kronos, which could be valued at more than $4 billion, writes Reuters. Kronos is in early stage talks with a small group of private equity firms, including KKR & Co LP, TPG Capital LP and Bain Capital LLC, about a potential deal, writes Reuters.

doshagain

Bain could earn 4x on Applied Systems – source

Bain Capital LLC stands to make more than 4x its invested capital when it completes the sale of insurance software maker Applied Systems Inc in a secondary sale to Hellman & Friedman LLC, a person with knowledge of the transaction told Buyouts.

Reuters – Israel PE deals down in 2012

Private equity deals in Israel declined by 10 percent to $2.6 billion in 2012, with more than half of the investment in software companies, according to the IVC Research Center writes Reuters. The buyout of software firm Paradigm Geophysical by Apax Partners and JMI Equity for $1 billion accounted for 39 percent of the total annual deal value.

Israeli Private Equity Keeps Pace in Third Quarter, But Values Drop

Private equity deals in Israel fell dramatically in value if not in terms of pace in the third quarter, according to new data out of the IVC Research Center. Sixteen deals, valued at $272 million, were completed, according to the firm’s data. Meanwhile, in the second quarter of this year, 14 deals were sewn up at a collective value of $1.6 billion.

Fox Paine Announces Sale of Paradigm — and 7.8x Return with It

Fox Paine, the Woodside, Calif.-based private equity firm, has completed its sale of Paradigm, maker of geoscience softwae, to Apax Partners and JMI Equity in a $1 billion cash merger trasnaction. Fox Paine Fund II acquired then publicly traded Paradigm in August 2002. The firm says it is realizing a 7.8x return with Paradigm’s sale. […]

JMI Equity Makes Sinha a General Partner

Jit Sinha was promoted to general partner at JMI Equity, while Brian Hersman and Robert Nye were named principals. Sinha and Hersman each focus on software investments, while Nye targets the Internet sector. PRESS RELEASE JMI Equity, a growth equity firm focused on investing in leading software, internet and business services companies, today announced the […]

ClickSquared Inks $9 Million

ClickSquared has closed a $9 million round of equity financing, led by Staley Capital and including the company’s existing group of investors Flybridge, JMI Equity and ABS Ventures. ClickSquared is a provider of cross-channel marketing software and services PRESS RELEASE ClickSquared, a global provider of cross-channel marketing software and services, today announced the closing of […]

Brown & Brown Buys Arrowhead General

Insurance broker Brown & Brown Inc. will pay $395 million in cash to buy Arrowhead General Insurance Agency Inc., a company owned by Spectrum Equity Investors and JMI Equity, Reuters reported. The purchase price is subject to adjustments based on Arrowhead’s working capital, debt and net tax operating losses, Reuters wrote.

CouponCabin.com Inks Whopping $54M

CouponCabin.com has raised $54 million in growth financing led by JMI Equity, the company announced Thursday. JMI is taking a minority stake in the online coupon company.

New CIO for DriveCam

DriveCam, a global driver risk management company, has appointed Drew Martin as chief information officer effective October 3, 2011. DriveCam was recently recognized as #30 in The Wall Street Journal’s listing of Top 50 Venture-Backed Companies. The San Diego-based company has previously secured backing from Leader Ventures, Triangle Peak Partners, Menlo Ventures, JMI Equity, Insight Venture Partners and Integral Capital Partners.

Studer Gets Backing From JMI

Healthcare business Studer Group has secured a strategic investment from JMI Equity, a growth equity firm focused on investing in software, Internet, business services and healthcare IT companies. Founded in 1992, JMI Equity has invested in more than 100 businesses in its target markets and has over $2.1 billion of committed capital under management.

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