Warburg Pincus has taken a legal double-whammy in a South Korean court, on charges that it had engaged in insider trading of LG Card shares. Prosecutors had indicted Warburg Pincus managing director Hwang Sung-jin last April, and yesterday a judge sentenced him to four years in prison. The judge also fined Warburg Pincus approximately $57 […]
Numericable, a French cable company owned by Cinven, is considering a bid for Iliad SA, according to La Lettre de L'Expansion. The deal would be valued at approximately Euro 5 billion, with Morgan Stanley arranging the leveraged financing.
EMC Corp., an educational publisher owned by The Wicks Group of Cos., has acquired JIST Publishing Inc., an Indianapolis-based publisher of educational materials covering such topics as job search, resumes and career reference. No financial terms were disclosed. www.emcp.com www.jist.com
Fabrik Inc., a San Mateo, Calif.-based storage provider, is nearing a deal to acquire the consumer storage device business of SimpleTech (Nasdaq:STEC), according to GigaOm. Fabrik has raised $12.1 million in VC funding from firms like ComVentures and Intel Capital. www.fabrikinc.com www.stec-inc.com
Cambridge Information Group has acquired ProQuest Information and Learning from ProQuest Co. (NYSE: PQE) for $222 million. ABRY Partners provided equity financing, while leverage was arranged by Morgan Stanley Senior Funding and Goldman Sachs Credit Partners. CIG will merge ProQuest I&L with existing subsidiary CSA.
(Download data here: RaisingBids.pdf) I’ve been taking some reader heat for my latest thesis du jour: Private equity firm adulation/omnipresence is causing public shareholders and strategic buyers to feel that initial take-private offers are artificially low – thus resulting in a need to either raise or abandon bids. Recent examples include Equity Office, Harrah’s, Elkcorp, […]
LumaSense Technologies Inc., a Santa Clara, Calif.
Wayport Inc., an Austin, Texas-based provider of Internet connectivity solutions to the hospitality market, has acquired ResortWiFi, a provider of wireless services to the timeshare industry and select hotel companies like Fairfield Resorts and Monarch Grand Vacations. No financial terms were disclosed. Wayport has raised around $155 million in VC funding since its 1998, from […]
Merrill Corp. said that its wholly-owned subsidiary WordWave International Pty Ltd. has acquired ComputerReporters, a provider of reporting services to the legal, corporate and government markets in Australia. Merrill is a provider of document management services to the financial, legal and real estate markets, and is backed by DLJ Merchant Banking. www.merrillcorp.com
NXP Semiconductors BV of The Netherlands has agreed to acquire the mobile phone equipment business of Austin, Texas-based Silicon Laboratories Inc. (Nasdaq: SLAB). The deal is valued at $285 million, plus a possible $65 million earn-out based on performance over the next three years. NXP is the former semiconductor division of Royal Philips Electronics, which […]