KKR to buy graphics-software provider Corel from Vector

Vector Capital is selling Corel Corp again and this time the buyer is KKR, according to a source. Corel is expected to fetch more than US$1 billion ($1.3 billion), the person said. Corel is the Ottawa provider of graphics and office productivity packaged software, known for consumer-focused products like CorelDraw, WordPerfect, WinZip, PaintShop Pro and WinDVD. Vector, the San Francisco technology-focused private equity firm, first invested in 2003. The company went public three years later, raising US$104 million in 2006. But Corel’s stock under-performed, and in 2010 Vector took the company private again.

Corel, graphics, software, WordPerfect, private equity, Vector Capital, KKR, merger, m&a

KKR to buy graphics-software provider Corel from Vector

Vector Capital is selling Corel Corp again and this time the buyer is KKR, according to a source. Corel is expected to fetch more than $1 billion, the person said. UBS is advising Vector Capital on the sale process, the source said. Corel is the Ottawa provider of graphics and office productivity packaged software, known for […]

private equity, media, entertainment, sports, gambling, casino

Five Questions with PJT Partners’ K. Don Cornwell on investing in sports data

K. Don Cornwell is a partner at PJT Partners, focused on media and entertainment, specifically sports and gaming. Most recently, Cornwell led the PJT team that represented Perform and its parent, DAZN Group, on its sale of Perform to Vista Equity-backed STATS. Cornwell spoke with Buyouts about regulatory changes in the sports-betting space and new investing opportunities at the […]

Ivanti, clearlake capital, software, IT management, private equity, merger, M&A

Clearlake is said to receive first-round bids for Ivanti

Clearlake Capital’s sale of Ivanti has hit the first round, three sources told Buyouts. Bids for Ivanti are due today, sources said. A handful of PE firms are vying for Ivanti, people said. These include Thoma Bravo, Golden Gate Capital, Veritas Capital and TA Associates, which have submitted proposals, sources said. A few sovereign-wealth funds are also […]

GTCR, Park Place Technologies, IT services, private equity, merger, M&A

GTCR explores options for IT-services company Park Place Technologies

GTCR is exploring options, including a sale, for Park Place Technologies after a four-year hold, three sources familiar with the process told Buyouts. UBS is advising GTCR on the transaction, the sources said. One possible scenario calls for the Chicago private equity firm to sell a 30 to 50 percent chunk of the company, two of the sources said. The company generated […]

PwC, Andrew Cristinzio, private equity, merger, M&A

Take-private activity headlines Q1’s private equity M&A: PwC

Private equity firms will likely continue harvesting deals from the public markets as take-private activity continues to increase, according to a recent PwC Deals Insights report. Take-private transactions grew just shy of 50 percent in Q1, while the value of the deals more than doubled, to $23.1 billion from $11.1 billion, from Q1 2018, PitchBook […]


Clearlake Capital puts IT-software company Ivanti on the block

Clearlake Capital is shopping Ivanti, which could draw about $2 billion in a sale, sources familiar with the deal told Buyouts. UBS and Evercore are advising Clearlake on the transaction, the sources said. In January 2017, the Santa Monica, California, private equity firm acquired Landesk from Thoma Bravo and combined it with its portfolio company HEAT […]


Crestview to make 7.5x on sale of JR Automation

Crestview Partners is set to make 7.5x its money on the sale of JR Automation Technologies after a four-year hold, sources familiar with the transaction told Buyouts. On April 23, Crestview said it would sell JR to Hitachi for $1.4 billion. The firm expects to close the deal in the second half. Crestview acquired JR […]

SaaS, private equity, venture capital, Kaseya, Insight Partners, TPG, merger, M&A

TPG to take minority position in Insight Partners-backed Kaseya

TPG Capital is looking to acquire a minority stake in Insight Partners-backed Kaseya, sources familiar with the process told Buyouts. Evercore is advising on the process, the sources said. The deal, which is nearly three weeks away from completion, is structured as a preferred equity investment that pays out periodic distributions, they said. TPG is […]

TA Associates, PDI, Insight Partners, Genstar Capital, private equity, software, merger, M&A

TA Associates to reap 7x on sale of software provider PDI

TA Associates stands to make 7x its investment on PDI after a three-year hold, sources familiar with the transaction told Buyouts. Insight Partners last month said it was buying PDI from Genstar Capital and TA. The sale is valued at $1.6 billion, the sources said. TA and Genstar are retaining stakes in the company post-sale, […]

Insight Partners, e2open, software, supply chain, technology, private equity, venture capital

Insight Partners said to shop supply-chain software provider E2Open

Insight Partners is seeking a buyer for E2Open, a software provider for supply-chain management with nearly $100 million in Ebitda, sources familiar with the process told Buyouts. Insight, which has more than $20 billion in AUM, took E2Open private in February 2015 for $273 million. The Foster City, California, company provides cloud-based on-demand software services […]


Clearlake joins Insight with equal stake in Appriss Holdings

Clearlake Capital Group recently acquired half of data-analytics provider Appriss Holdings, taking an equal stake alongside Insight Partners. The company, which estimates $70 million of Ebitda for 2019, plans to grow organically and through add-ons across its key verticals: healthcare, public safety and retail, sources familiar with the deal told Buyouts. Appriss provides data and analysis […]

Great Hill Partners, Chris Gaffney, media, digital, advertising, private equity, merger, M&A, Univision, Gizmodo Media

Great Hill to tap ads, e-commerce to grow Gizmodo

Digital news platforms, boosted through venture capital and other sources, have given many investors headaches. Notable recent meltdowns include Mic.com, which laid off its editorial staff and sold itself for parts, and layoffs this year at Buzzfeed, HuffPost and other platforms across the battered media landscape. Great Hill Partners has ventured into this landscape by […]

TA Associates, PDI, Insight Partners, Genstar Capital, private equity, software, merger, M&A

Providence Equity to make 5.2x its money on Masmovil’s recap

Providence Equity Partners will make 5.2x gross multiple on the recapitalization of Spanish telecommunications company Masmovil Group, sources familiar with the deal told Buyouts. Masmovil will buy back convertible debt from Providence for a total value of 883 million euros ($1 billion), the firm announced April 1. Masmovil will finance the deal with new debt […]

industrials, chemicals. private equity

Five Questions with Tony Lee, co-founder of One Rock Capital Partners

One Rock Capital, a spinout of Ripplewood Holdings formed in 2010, has been busy this quarter. The firm, which has $1.4 billion in capital, announced three deals in 2019, two of which are complex corporate carveouts. Tony Lee, who co-founded the firm with Scott Spielvogel, spoke to Buyouts about deal sourcing, valuations and opportunities in […]

Blackstone Group, real estate, software, private equity, technology, Aquicore, Entic

Aquicore acquires Entic, a Blackstone-backed proptech company

Aquicore, a commercial real estate software company, acquired Entic, a software-as-a-service property technology company that aims to reduce utility waste, improve clients’ operational efficiencies and vendor oversight, and help them reach sustainability goals. Terms weren’t disclosed. Blackstone Group, which invested in Entic in July 2017, has retained its stake in the company. Aquicore is backed by […]