Fremont Partners has agreed to sell its controlling interest in Chicago-based IT consultant Software Architects Inc. to Capgemini for an undisclosed amount. www.sark.com
The Blackstone Group is nearing a deal to sell Equity Office properties in Seattle and Washington D.C. to Beacon Capital Partners of Boston, according to The Wall Street Journal. The deal would be worth roughly $6.5 billion, and would follow a reported agreement whereby Blackstone would sell Equity Office's New York office buildings to Macklowe […]
Halyard Capital has completed its sale of Dallas-based community newspaper publisher American Consolidated Media to Macquarie Media Group for $80 million. www.halyard.com
(Updated) Equity Office shareholders yesterday overwhelmingly approved the $55.50 per share buyout offer from The Blackstone Group, thus cementing the largest-ever LBO at around $39 billion (including around $16 billion in assumed debt). I wrote a few days ago that Blackstone might be better off losing the deal if it were able to collect the […]
Hitachi Data Systems has agreed to acquire Archivas Inc., a Waltham, Mass.-based provider of digital archiving solutions. No financial terms were disclosed. Archivas had raised $28 million over three VC rounds since 2003, from Polaris Venture Partners, North Bridge Venture Partners and Solstice Capital. www.hds.com www.archivas.com
Yesterday I wrote that Blackstone Group might be better off losing the Equity Office deal to Vornado, considering that it had been forced to raise its bid – and thereby reduce its return expectations — by 14.4 percent. And I received emails from six Blackstone LPs – all of whom agreed (although my guess is […]
Apax Partners and Texas Pacific Group have agreed to sell Greek mobile phone operator TIM Hellas to Weather Investments SpA, an investment vehicle of Egyptian entrepreneur Naquib Sawiris. The sale price includes Euro 500 million in equity plus Euro 2.9 million of net debt. Apax and TPG initially acquired TIM Hellas from Telecom Italia in […]
Hewlett-Packard Co. (NYSE: HPQ) has agreed to acquire Bristol Technology Inc., a Danbury, Conn.-based provider of technologies that monitor business transactions. No financial terms were disclosed. Bristol has raised over $9.1 million in VC funding from firms like Apax Partners, Connecticut Innovations and Jerusalem Venture Partners. www.hp.com www.bristol.com
Reliance Steel & Aluminum Co. (NYSE: RS) has completed its acquisition of Encore Group, an Edmonton, Alberta-based operator of metals service center companies (Encore Metals, Encore Metals USA Inc., Encore Coils, and Team Tube in Canada). No financial terms were disclosed. Encore was formed in 2004 via a management buyout sponsored by HSBC Canada. Its […]
General Atlantic today announced that it has acquired Network Solutions, a Herndon, Va.-based provider of online solutions for small businesses, from Najafi Cos. (f.k.a. Pivotal Private Equity). So let’s play 5 Questions with Anton Levy, a managing director with General Atlantic and head of the firm’s media and consumer practice. 1. Network Solutions provides services […]