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Vista Equity Partners has completed its acquisition of the Taxware business from ADP in an agreement that was announced on 6 November 2012.
The company will continue to use the Taxware name.
"We are excited that we are closing this transaction with ADP and acquiring a leading company in a growing market," says Robert F Smith, Vista Equity Partners’ chairman and chief executive. "Taxware provides us a great opportunity to combine Vista’s proven operating philosophies, Taxware’s great product offerings and a talented management team to deliver a great customer experience. We look forward to supporting the Taxware management team as
Nomura has launched the Nomura QES Modelled Private Equity Returns Index (PERI) in the US, the first daily investible index for institutional investors which targets returns similar to those achieved through investment in private equity buyout funds on a committed capital basis.
The PERI has been developed in collaboration with sub-adviser and quantitative think tank Quantitative Equity Strategies (QES) and uses data provided by Preqin.
The PERI does not invest in buyout funds directly or indirectly but has been developed on a foundation of private equity research which suggests that a substantial portion of private equity buyout fund returns can
Institutional Venture Partners (IVP) raised a new USD1bn fund and completed four IPOs, two significant M&A events and 13 new investments in 2012.
In June, IVP announced the closing of Institutional Venture Partners XIV, a USD1bn later-stage venture capital and growth equity fund. The new fund follows the recent success of IVP XII, a USD600m fund formed in 2007, and IVP XIII, a USD750m fund formed in 2010. IVP XIV is the largest fund raised in the firm’s 32-year history and brings IVP’s cumulative committed capital to USD4bn.
CafePress went public in March with a market capitalisation of USD323m. IVP
Polaris Private Equity, a Danish/Swedish mid-market private equity investor, has made four promotions.
Peter Maigaard, Rune Gornitzka and Martin Bang-Löwgren (pictured) have all been promoted to director, while Simon Wille has been promoted to investment manager.
The promotions mark the end of a year during which Polaris has made five new platform investments and a further seven add-on deals, as well as securing the successful exits of Skamol and Fiskarhedenvillan.
Jan Johan Kühl, managing partner at Polaris, says: “These promotions are part of Polaris’ continuing development as a leading Danish/Swedish mid-market private equity investor, and reflect the increasing seniority and
Energy group Winch Energy has invested in Sicily-based energy trader Onda Energy and its subsidiary Energit, based in Sardinia.
The Onda Energy Group is the largest gas and electricity broker in both Sicily and Sardinia, with some 35,000 commercial customers in Sicily, Sardinia and Italy. The combined group has turnover of over EUR100m and employs some 100 people.
The acquisition will give the Onda Group access to significant funding to grow its activities and strengthen its balance sheet. Winch Energy will bring its expertise in solar PV and LED lighting to the Onda Group and expects to roll out funded
Claude Vachet has joined Cycle Capital Management as managing partner.
Vachet (pictured) has over 22 years of experience in operations in venture capital and in fund management, and has been part of successful teams at both Kirchner and Multiple Capital.
Vachet also previously worked at Innovatech Montreal as vice president information technology and communication. In this capacity, he was responsible for 44 start-up companies and five venture capital funds. From April 2004 to March 2005, he participated in the sale of Innovatech Montreal’s portfolio, the second largest transaction in a venture capital portfolio in Canada with its 15 funds and
Despite businesses being generally positive about the support they have received from their bank over the last 12 months, continuing economic uncertainty means most are still cautious about raising finance in 2013, according to a survey from Baker Tilly.
“Your Outlook for 2013 – a business survey” was carried out by YouGov on behalf of Baker Tilly, and polled over 800 business leaders across the country about their expectations, opinions and priorities for the coming year.
The latest results from the survey showed that over 80 per cent of businesses that raised finance over the last 12 months, had
Private equity firm TA Associates has completed a majority investment in DigiCert, a provider of enterprise security solutions.
Terms of the investment were not disclosed.
Founded in 2003, DigiCert provides online authentication and encryption services primarily through Secure Socket Layer (SSL) certificates to companies, government agencies, financial institutions, and educational and medical institutions worldwide. SSL protocol enables applications to transmit information securely.
DigiCert is the world’s third largest issuer of high-assurance certificates, serving more than 60,000 clients in 176 countries. The company is headquartered in Lindon, Utah.
“DigiCert offers a compelling value proposition to its customers,” says Jason P Werlin,
Sprint is to acquire the approximately 50 per cent stake in Clearwire it does not currently own for USD2.97 per share, equating to a total payment to Clearwire shareholders, other than Sprint, of USD2.2bn.
This transaction results in a total Clearwire enterprise value of approximately USD10bn, including net debt and spectrum lease obligations of USD5.5bn.
The transaction consideration represents a 128 per cent premium to Clearwire’s closing share price the day before the Sprint-Softbank discussions were first confirmed in the marketplace on 11 October, with Clearwire speculated to be a part of that transaction; and a 40 per cent premium
The 2012 founded tech start-up Kreditech (formerly Kredito) has attracted further investors with Blumberg Capital and the management of a German investment bank joining existing investor Point Nine Capital, which has decided to increase its stake.
Michael Brehm (ex-studivz), Heiko Hubertz (founder Bigpoint), Felix Haas (founder amiando), Stefan Glaenzer, Greycorp, YoungBrains, Digital Pioneers and H2 Investments invested in Kreditech earlier in 2012.
In total Kreditech has raised USD4m which, according to chief executive and co-founder Sebastian Diemer, will be sufficient to scale the B2C business to break-even in Q1 2013. In addition, Kreditech plans the international launch of its B2B
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