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Intel has entered into a definitive agreement to acquire McAfee through the purchase of all of the company’s common stock at USD48 per share in cash, for approximately USD7.68bn.
Both boards of directors have unanimously approved the deal, which is expected to close after McAfee shareholder approval, regulatory clearances and other customary conditions specified in the agreement.
McAfee, which has enjoyed double-digit year-over-year growth and nearly 80 per cent gross margins last year, will become a wholly-owned subsidiary of Intel, reporting into Intel’s software and services group. The group is managed by Renée James, Intel senior vice president and general
Navigant Capital Advisors, a subsidiary of Navigant Consulting, has advised Green Bancorp, the holding company for Green Bank, in closing an aggregate USD100m private placement of common stock with several independent investment firms.
The investors include funds affiliated with Friedman Fleischer & Lowe, Harvest Partners, and Pine Brook Road Partners.
No investor will own more than 24.9 percent of the common stock of the company.
The new capital will be used to expand current operations, as well as to pursue growth opportunities, including bank and branch acquisitions, structured transactions and FDIC-assisted transactions.
The transaction exemplifies the growing number of private
Maranon Capital has provided a senior debt investment to Veritext, a provider of deposition and litigation services to law firms, insurance companies and corporations.
Maranon has also added two associates, Jeannie Y. Chen and Michael D. Vieth, to its Chicago-based investment team.
In the Veritext transaction, Maranon committed USD20m as a participant in a USD120m senior debt facility which supported the acquisition of the business by Investcorp.
Chen joined Maranon from Lazard Middle Market, an advisory group of Lazard Frères, where she worked as an investment banking analyst.
Vieth previously worked as an investment banking analyst at Harris Williams.
Maranon
The merger and acquisition deal activity in the global engineering and construction sector shows continued momentum in quarter two 2010, according to reports from PricewaterhouseCoopers.
The near-term outlook remains favourable for continued growth, as the first half of 2010 has seen 30 more deals than the first half of 2009.
In terms of value, deals totalled USD11.8bn in the second quarter of 2010.
The M&A activity in the aerospace and defence industry was relatively sluggish in Q2 2010, according to PwC. There were seven announced deals worth USD50m or more, compared to the eight deals reported in Q1 2010. Additionally,
Atlantic-Pacific Capital, a placement agent and advisory firm, has appointed Sarah McFadden Sandström as a partner in its private funds business.
As part of the project management and advisory team, Sandström will work closely with general partner clients on positioning and executing institutional capital raises for funds based in Europe.
"Atlantic-Pacific immediately impressed me as being the most highly motivated team in the industry. The firm’s successes over the last two years in a difficult fundraising environment are a testament to teamwork, determination and a focused approach," says Sandström.
“Sarah’s global expertise is the perfect addition to our established
Law firm Conyers Dill & Pearman has advised MakeMyTrip on its USD70m initial public offering on the Nasdaq Global Market.
MakeMyTrip is the first ever Mauritius incorporated company to list on a major New York stock exchange.
Conyers Dill & Pearman advised MakeMyTrip on Mauritius law aspects of the listing alongside Latham & Watkins, which provided US law advice, and S&R Associates, which advised on Indian law.
Shearman & Sterling =acted as US counsel to the underwriters, Morgan Stanley International, Oppenheimer and Pacific Crest Securities, with Amarchand & Mangaldas & Suresh A. Shroff providing Indian law counsel.
Craig Fulton, head
Summer Street Capital Partners, a private equity fund based in Buffalo, New York, has completed an equity investment in Action Environmental Services, a provider of waste management services for the business community in the City of New York.
The investment will support the acquisition of select New York City assets from Republic Services.
"The addition of these assets, including two transfer stations, positions Action to serve our customers more effectively in the highly competitive and demanding New York City market," says Ron Bergamini, Action’s chief executive. "We look forward to continuing to provide the local university, hospital, sports stadium, and
Venture capital firm Highland Capital Partners has appointed Manish Patel as a principal.
Based in Highland’s Menlo Park office, Patel will expand Highland’s reach into Silicon Valley’s entrepreneurial community and help identify and work with the next crop of start-ups.
Patel joins Highland from Google where he has held diverse product management and executive management roles. His experience ranged from serving as a lead product manager for Google’s advanced imagery and 3D mapping initiatives to helping grow the company’s advertising and syndication efforts into billion dollar businesses. He was also the product manager responsible for launching the first search and
Royal Philips Electronics has joined Gilde Healthcare III, a new venture capital fund focusing on early and growth stage healthcare technology companies in Europe and the US.
Philips is investing in Gilde Healthcare III in order to foster innovation in areas of strategic interest to its healthcare business.
The fund will be fully independent of Philips’ existing innovation efforts, including the Philips Healthcare Incubator.
“Over the past years the venturing community has been instrumental in bringing breakthrough healthcare innovations to the market,” says Steve Rusckowski, chief executive of Philips Healthcare. “Through our participation in the Gilde Healthcare III venture capital
CreditMax, an electronic exchange for the sale and purchase of distressed consumer debt, has received a growth equity investment from PPF Finance, a subsidiary of PartnerRe, and Metropolitan Equity Partners.
The investment is designed to enable the expansion of CreditMax’s NDSE Trading Platform and the launch of CreditMax’s debt lending programme for qualified debt buyers.
CreditMax’s NDSE exchange enables sellers to list debt for sale on a national, regional, state, local, or account-specific basis. The platform enables buyers to identify and analyse portfolios and to acquire those assets that have the most value to them.
The capital investment is being
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