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Private equity firm Thoma Bravo has completed its USD930 million acquisition of TravelClick, a provider of cloud-based revenue-generating solutions for the USD500 billion global hospitality industry.
“TravelClick has established itself as the leader in delivering revenue-enhancing technology and services to the hotel industry, and we look forward to supporting the company in its next stage of growth,” says Holden Spaht, managing partner at Thoma Bravo. “With a strong base of recurring revenue, a leadership position in a fragmented vertical market and a great management team, TravelClick represents an excellent fit with Thoma Bravo’s buy and build investment strategy.”
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RiverVest Venture Partners has sold portfolio company Lumena Pharmaceuticals to Dublin-based Shire Plc in a transaction with an upfront payment of USD260 million in cash.
The deal also includes a payment for net cash at closing, and near-term contingent milestone payments related to ongoing clinical trials.
In the three years since it received initial seed funding from life sciences venture capital firm RiverVest, Lumena has developed two drugs to provide better treatment options for adults and children who suffer from rare and debilitating liver diseases and serious metabolic disorders.
In addition to its financial commitment, RiverVest provided hands-on
Middle market private equity firm GI Partners is to acquire IT infrastructure and cloud provider Peak 10.
Founded in 2000, Peak 10 provides hybrid IT infrastructure services including data centre services, private and enterprise cloud infrastructure and managed services.
Headquartered in Charlotte, North Carolina, the company operates 24 data centres in 10 key markets in the US, primarily serving mid-sized enterprises around the globe.
"This is a pivotal time in the IT infrastructure space," says David Jones, president and chief executive officer of Peak 10. "Our industry continues to experience dynamic change with shifts and enhancements to virtual
Private equity-backed IPOs in Latin America outperformed the broader public markets and other IPOs in the region by a significant margin over the course of 2013, according to a survey by EY.
The report – Great expectations: what’s next for Latin American private equity? – underscores that exits via IPOs yielded better returns than the other key route in Latin America, sale to corporates.
The report, now in its third year, examines the results and methods of over 107 PE exits between 2007 and 2013.
With PE-backed IPOs worldwide recording their strongest year-on-record in 2013, 38 per cent
Venture capital investor Octopus Investments and tech start-up specialist 360 Leaders have formed a strategic partnership to work on projects in the technology and enterprise space over the next 12 months.
360 Leaders held its latest ‘Hot Topics’ event last week in New York, focused on the trends of international expansion and the New York tech ecosystem. The event included speakers from US VC firm Sequoia Capital, Foursquare, MongoDB and Octopus-backed events app YPlan.
Simon Andrews, a member of the ventures team at Octopus, says: “360 Leaders is transforming the technology industry through its community approach to talent development,
Guernsey has expanded the range of structures available from the jurisdiction by introducing Limited Liability Partnerships (LLPs).
The Limited Liability Partnerships (Guernsey) Law, 2013 was approved by the States of Guernsey in December last year. It was given Royal Assent by the Privy Council in April and registered in the Royal Court of Guernsey today (12 May).
The law will come into force with effect from tomorrow (13 May), with the Guernsey Registry accepting registrations to form Guernsey LLPs from midnight.
Fiona Le Poidevin, chief executive of Guernsey Finance – the promotional agency for the island’s finance industry,
The Central Africa Growth Sicar (CAGS) fund, managed by pan-African private equity firm Emerging Capital Partners (ECP), has exited its stake in Togo-based commercial banking holding company Oragroup.
The exit form Oragroup, which currently has operations spanning 12 countries in West and Central Africa, represents 2.2x return on CAGS’ initial investment.
CAGS achieved the divestment through sale of its stake to Gabon's Strategic Investment Fund (GSIF). The exit follows a five year holding period during which time CAGS provided development capital and strategic management expertise to support Oragroup’s growth ambitions. During CAGS' holding period, Oragroup doubled its countries of
Dubai International Capital (DIC), the private equity arm of Dubai Holding, has signed an agreement for the sale of Mauser Group to Clayton, Dubilier & Rice (CD&R) for circa USD1.7 billion.
Mauser, which was acquired by DIC in 2007 in a deal that valued the group at circa USD1.1 billion, is a producer of rigid industrial packaging with approximately 4,400 employees and consolidated revenues of over USD1.6 billion.
David Smoot, chief executive officer of DIC, says: “Mauser has been a very successful investment for DIC, providing a return of approximately double our equity invested. We partnered with a strong
International investment firm Axon Partners Group has invested in iYogi, a specialist in on-demand tech support for consumers and small businesses, bringing the total raised so far in this Series E financing round to USD28 million.
Axon Partners Group, which has a strong presence in Spain and Latin America, has joined this round along with Madison India Capital and some existing investors, to support iYogi’s growth in these regions through partnerships with telecom companies.
Francisco Velázquez de Cuéllar, president of Axon Partners Group, says: "Axon is very pleased to be working with iYogi, further expanding our technology portfolio in
Talis Capital’s portfolio company FuelQuest In has completed the sale of its subsidiary business Zytax to Avalara.
FuelQuest’s disposal of Zytax represents one of the first exits in the digital sector for Talis Capital investors.
Talis Capital, also the exclusive advisor to Beyond Digital, completed a USD10m Series A round for FuelQuest in 2012. Beyond Digital focuses on high growth technology companies, in areas such as financial technology, mobile, data analytics and cyber security.
FuelQuest solutions help customers manage complexity, regulation and market volatility for more than 22 billion gallons of gasoline and diesel fuel annually. Zytax provides
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