A Permira portfolio company has completed the acquisition of Genesys, a global specilaist in contact center technology software, from Alcatel-Lucent. Technology Crossover Ventures and certain co-investors of the Permira funds also participated in the transaction. The transaction values the company at USD$1.5 billion. Genesys is headquartered in Daly City, CA. PRESS RELEASE Permira, the European [...]
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Will Griffith has left venture firm Technology Crossover Ventures, peHub has confirmed. Griffith joined the firm in 2000 and became a general partner in 2003. He worked with portfolio companies including 2Wire, Adknowledge, MoneyExpert, Orbitz, Tiny Prints, Travelport and Whitepages. Before joining TCV, Griffith was an associate at The Beacon Group, a private equity firm that was acquired by JP Morgan Chase in 1999. The news was first reported by Fortune.
Hellman & Friedman Capital Partners portfolio company OpenLink is acquiring Technology Crossover Ventures‘ portfolio company SolArc, provider of commodity management software solutions. ArchPoint Partners served as SolArc’s investment banker, and Wilson Sonsini Goodrich & Rosati served as SolArc’s outside legal counsel in this transaction. Financial terms of the transaction were undisclosed. PRESS RELEASE ArchPoint Partners [...]
Technology Crossover Ventures has invested an undisclosed amount into Sitecore, a maker of website content management and online marketing software. Terms were not disclosed. David Yuan, a TCV General Partner, will join the current Sitecore board. Also joining the board will be Bob Burke, former CEO of Art Technology Group.
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Video rental company Netflix has raised $400 million in fresh capital by selling convertible debt to long-time backer Technology Crossover Ventures and stock to funds managed by T. Rowe Price, writes Reuters. Netflix has lost about two-thirds of its market value since the company’s shares touched a high of almost $300 in July. (Reuters) – [...]
(Reuters) – Video rental and streaming company Netflix Inc. said late on Monday that it raised $400 million in fresh capital by selling convertible debt to long-time backer Technology Crossover Ventures (TCV) and stock to funds managed by T. Rowe Price.
Netflix has lost about two-thirds of its market value since the company’s shares touched a high of almost $300 in July.
The company, which had $159.2 million in cash and cash equivalents at the end of September, has struggled to renegotiate video content deals. It has also lost subscribers and warned of a first-quarter loss.
The $200 million note sale and the $200 million stock sale will help the company replenish its war chest.
When Netflix Chief Executive Reed Hastings “said, ‘Hey, I’m going to double content spend in 2012,’ we couldn’t see how it could happen,” UBS analyst Brian Fitzgerald told …
Technology Crossover Ventures has agreed to buy $200 million in convertible bonds from streaming video service Netflix (Nasdaq: NFLX), according to a regulatory filing made by Netflix on Monday. Netflix’s shares closed at $74.47 on Monday and were off about 6% in after hours trading as of 5:30 p.m. EST. The filing states: “On November [...]
Rapid7, a provider of security risk technology, has closed on $50 million in Series C financing from Palo Alto, Calif.-based Technology Crossover Ventures. Rapid7, which is based in Boston, will use the money to expand its product development, for potential acquisitions, and international expansion. Tim McAdam, TCV general partner, will join Rapid7’s board. The company is also backed by Bain Capital Ventures.
Permira has made a binding offer to acquire Genesys, an expert in contact center technology software, from Alcatel-Lucent in a transaction valued at $1.5 billion. Technology Crossover Ventures and certain co-investors of the Permira funds will also participate in the transaction.