News
Siris Capital portfolio company, Transaction Network Services, Inc, divests Caller Authentication Assets
Siris Capital portfolio company, Transaction Network Services, Inc, divests Caller Authentication Assets
STERLING, VA, — Dec 21, 2015 — Neustar, Inc. (NYSE: NSR), a trusted neutral provider of real-time information services, announced today that it has completed its acquisition of the caller authentication assets of Transaction Network Services, Inc. (TNS) and updated its 2015 guidance.
“We’re pleased to announce that we have completed the acquisition of the caller authentication assets of TNS,” said Lisa Hook, Neustar’s President and Chief Executive Officer. “This acquisition accelerates our ability to launch next generation mobile identity solutions for service providers, businesses, and consumers. These assets enhance our ability to compete across the broad market for caller authentication in mobile, broadband and wireless with offerings that include subscriber data storage and management, caller identification and verification services.”
The company reaffirmed its 2015 revenue guidance to range from $1.04 billion to $1.05 billion, representing growth of 8% to 9%. Information Services revenue is expected to range from $535 million to $545 million, representing growth of 9% to 12%. The company increased its 2015 adjusted net income guidance to range from $262 million to $268 million, or a 25% margin. On a per share basis, adjusted net income is expected to range from $4.70 to $4.80, an increase of 9% to 11%.
Paul Lalljie, Neustar’s Chief Financial Officer, added, “We are targeting the top end of our 2015 revenue guidance range and we have increased our adjusted net income guidance to include approximately $8 million in discrete tax benefits. We expect the momentum we have seen in the first three quarters of 2015 to continue. In addition, this acquisition increases our 2016 guidance, provided on December 9, 2015, by $60 million in revenue and $20 million in adjusted EBITDA.”
About Siris Capital Group
Siris Capital is a leading private equity firm focused on making control investments in data, telecommunications, technology and technology-enabled business service companies in North America. Integral to Siris’ investment approach is its partnership with exceptional senior operating executives, or Executive Partners, who work exclusively with Siris to identify, validate and operate investment opportunities. Their significant involvement allows Siris to partner with management to add value both operationally and strategically.
About Transaction Network Services, Inc
Transaction Network Services (TNS) is a leading global provider of data communications and interoperability solutions. TNS offers a broad range of networks and innovative value-added services which enable transactions and the exchange of information in diverse industries such as retail, banking, payment processing, telecommunications and the financial market. Founded in 1990 in the United States, TNS has grown steadily and now provides services in over 60 countries across the Americas, Europe and the Asia Pacific region, with reach extending to many more. TNS has designed and implemented multiple data networks which support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods. TNS is a portfolio company of funds managed by Siris Capital Group.
Siris Capital portfolio company Digital River divests wholly-owned subsidiary BlueHornet
Siris Capital portfolio company Digital River divests wholly-owned subsidiary BlueHornet
SAN DIEGO – Dec. 8, 2015 – BlueHornet Networks, Inc., a leading provider of SaaS-based email marketing software and services, today announced that it was acquired by Marlin Equity Partners, a global investment firm with over $3 billion of capital under management. The acquisition will enable BlueHornet to accelerate investment in its products and services to enhance value creation for customers. Through its multi-tenant technology platform and full service customer support, BlueHornet empowers marketing teams in any size organization to create and launch sophisticated, data-driven email marketing campaigns, optimize outreach and delivery performance and maximize marketing ROI. The company serves a global client base of enterprise, SMB and reseller customers across a variety of industries, including retail, technology, media and publishing, gaming, electronics and hospitality.
Michael Biwer, BlueHornet’s CEO, stated, “With Marlin, we have gained a strategic partner who shares our vision and excitement for the substantial market opportunity that exists within the email marketing industry. As an independent company, we are now well-positioned to execute on our growth plan with greater speed, focus and innovation and to accelerate and improve the value proposition we bring to our customers and partners.”
“BlueHornet’s email marketing platform has a proven track record of successfully helping businesses drive ROI and increase the lifetime value of their customers,” stated Jonah Sulak, a partner at Marlin. “BlueHornet represents an outstanding platform for growth and we look forward to supporting the management team and providing the financial and operational resources to help the business succeed as a standalone company.”
About BlueHornet
BlueHornet helps companies reach their email potential with a unique combination of enterprise-scale email marketing solutions and award-winning services. From emerging businesses to Fortune 500 companies, BlueHornet’s customers rely on the company’s powerful, intuitive cloud-based technology platform to implement highly-targeted lifecycle messaging programs that optimize email marketing ROI. The company was founded in 2000 and is located in San Diego, CA. Contact BlueHornet for more information at 866-586-3755 or sales@bluehornet.com; visit bluehornet.com or follow @bluehornetemail on Twitter.
About Siris Capital Group, LLC
Siris Capital is a leading private equity firm focused on making control investments in data,
telecommunications, technology and technology-enabled business service companies in North America. Integral to Siris’ investment approach is its partnership with exceptional senior operating executives, or Executive Partners, who work exclusively with Siris to identify, validate and operate investment opportunities. Their significant involvement allows Siris to partner with management to add value both operationally and strategically. To learn more, visit us at www.siriscapital.com.
PGi Announces Completion of Acquisition by Siris Capital Group
PGi Announces Completion of Acquisition by Siris Capital Group
Ted Schrafft Named PGi CEO; Company Positioned to Enhance Customer Value and Extend Lead in UC&C Market
ATLANTA and NEW YORK – December 8, 2015 – Premiere Global Services, Inc. (“PGi”), the world’s largest dedicated provider of collaboration software and services, today announced the completion of its acquisition by funds managed or advised by Siris Capital Group, LLC in a transaction valued at approximately $1 billion.
In addition, Ted Schrafft has been named PGi’s new Chief Executive Officer. Mr. Schrafft, who served as PGi’s President for nine years and has over 35 years of experience in the technology and business communications industries, succeeds PGi founder, Boland Jones, who will be appointed to PGi’s new board of directors.
“PGi has impressed us with its successful strategy, broad portfolio of unified communications products and services and long-tenured, global customer base. We believe the company is uniquely positioned to take advantage of a growing $10+ billion market opportunity, ” said Hubert de Pesquidoux, Siris Capital executive partner and PGi executive chairman. “We look forward to working with PGi’s experienced leadership team under the guidance of newly appointed CEO Ted Schrafft to further PGi’s market lead and drive value for our customers and partners, who increasingly rely on PGi to provide and manage every aspect of their collaboration experience.”
“I am honored to have the opportunity to shepherd PGi into its next chapter, partnering with Siris Capital and our new directors. The leadership team’s management experience and industry expertise is backed by a likeminded, deep commitment to driving PGi’s continued success,” said Schrafft. “I am extremely grateful for the indelible contributions and leadership of Boland Jones, who built PGi into what it is today, and look forward to building upon this legacy.”
Commenting on the news, Boland Jones, PGi founder and former CEO said: “This is an exciting time at PGi, and I look forward to working closely with the new board to continue to build upon our successful track record. There’s no one better suited to take the reins at PGi than Ted Schrafft, whose leadership skills and business acumen are second to none. I am certain that PGi is in the best possible hands.”
The transaction, which was initially announced on September 10, 2015, was approved by a majority of PGi shareholders on December 3, 2015. In connection with the closing of the transaction, the company, which will continue to operate as Premiere Global Services, Inc., will be wholly owned by an affiliate of Siris Capital.
About Premiere Global Services, Inc. | PGi
PGi is the world’s largest dedicated provider of collaboration software and services. We created iMeet®, an expanding portfolio of purpose-built applications designed to meet the daily collaboration and communications needs of business professionals, with solutions for web, video and audio conferencing,
Digital River enters into agreement to divest Blue Hornet
Digital River enters into agreement to divest Blue Hornet
NEW YORK — October 8, 2015 – Digital River, Inc., a portfolio company of Siris Capital Group, LLC, has entered into an agreement to divest Blue Hornet, its email marketing products division, to Marlin Equity Partners.
Financial terms of the transaction were not disclosed.
About Digital River
Backed by 20 years of ecommerce experience, Digital River is recognized as a leading global provider of Commerce-as-a-Service solutions. Companies of all sizes rely on Digital River’s multi-tenant, SaaS commerce, payments and marketing services to manage and grow their online businesses. In 2013, Digital River processed more than $30 billion in online transactions, connecting B2B and B2C digital products and cloud service companies as well as branded manufacturers with buyers across multiple devices and channels, and nearly every country in the world. Digital River is headquartered in Minnetonka, MN, with offices across the U.S., Asia, Europe and South America.
More than 2,200 clients use Blue Hornet as their email marketing company, utilizing the company’s flexible cloud-based platform to maximize email marketing performance. Blue Hornet was acquired by Digital River in 2004. Blue Hornet is headquartered in San Diego, CA.
About Siris Capital Group
Siris Capital is a leading private equity firm focused on making control investments in data, telecommunications, technology and technology-enabled business service companies in North America. Integral to Siris’ investment approach is its partnership with exceptional senior operating executives, or Executive Partners, who work exclusively with Siris to identify, validate and operate investment opportunities. Their significant involvement allows Siris to partner with management to add value both operationally and strategically.
Digital River completes sales of Beanstream Internet Commerce
Digital River completes sales of Beanstream Internet Commerce
NEW YORK — September 30, 2015 – Digital River, Inc., a portfolio company of Siris Capital Group, LLC, announced today it completed the sale of Beanstream Internet Commerce Inc., the Canadian-based payments division of Digital River focused on small & medium-sized businesses, to Bambora Group, a leading global payments services provider and portfolio company of Nordic Capital.
Financial terms of the transaction were not disclosed.
About Digital River
Backed by 20 years of ecommerce experience, Digital River is recognized as a leading global provider of Commerce-as-a-Service solutions. Companies of all sizes rely on Digital River’s multi-tenant, SaaS commerce, payments and marketing services to manage and grow their online businesses. In 2013, Digital River processed more than $30 billion in online transactions, connecting B2B and B2C digital products and cloud service companies as well as branded manufacturers with buyers across multiple devices and channels, and nearly every country in the world.
Digital River is headquartered in Minneapolis with offices across the U.S., Asia, Europe and South America.
Beanstream has forged relationships with major financial institutions, built a network of more than 700 partners and 18,000 merchants, and provides white label solutions for First Data Canada, TD Bank and Sage Payroll. Customers include online and brick-and-mortar merchants, governments, and financial and higher education institutions. Beanstream is located in Victoria, British Columbia, Canada.
About Bambora Group
Bambora Group is one of the fastest growing providers of online payment transactions with business in Europe, Australia, New Zealand and North America. Bambora consists of a consolidation of innovative payment technology companies, including Samport, MPS, ePay, DK Online, Keycorp, dSAFE, Euroline and IP Payments. The group processes more than $50 billion in transaction value a year, of which more than 70 percent is online. Bambora has 520 employees with offices in seven countries. The Bambora Group is owned by Nordic Capital Fund VIII.
About Siris Capital Group
Siris Capital is a leading private equity firm focused on making control investments in data, telecommunications, technology and technology-enabled business service companies in North America. Integral to Siris’ investment approach is its partnership with exceptional senior operating executives, or Executive Partners, who work exclusively with Siris to identify, validate and operate investment opportunities. Their significant involvement allows Siris to partner with management to add value both operationally and strategically.
CommScope completes acquisition of Airvana
CommScope completes acquisition of Airvana
NEW YORK — September 30, 2015 – CommScope Holding Company, Inc., a global provider of connectivity and essential infrastructure solutions for communications networks, has completed the acquisition of Airvana LP, a portfolio company of Siris Capital Group, LLC, specializing in small cell solutions for wireless networks.
Airvana provides award-winning 4G LTE and 3G small cell solutions that enable people to access communications, information and entertainment in the most challenging and high-value environments—offices, public venues and homes. Since its founding in 2000, Airvana has played a key role in enabling the use of mobile devices for data access. Airvana began small cell development to complement its macro cell mobile broadband infrastructure products and today focuses exclusively on small cells. Airvana has shipped 1.5 million small cells and supports one of the largest small cell networks in the world.
This acquisition by CommScope’s will expand its leadership and capabilities in providing indoor wireless capacity and coverage, an increasingly important market opportunity that is growing due to consumers’ and businesses’ insatiable demand for wireless data. The combination of Airvana’s innovative small cell offerings and CommScope’s industry-leading distributed antenna systems (DAS) portfolio will enable CommScope to provide a broader range of solutions, addressing single-operator, single-band, low capacity environments all the way through multi-carrier, multi-technology, multi-band, high capacity environments.
The transaction was structured as an asset sale and financial terms were not disclosed.
About CommScope
CommScope (NASDAQ: COMM) helps companies around the world design, build and manage their wired and wireless networks. Our vast portfolio of network infrastructure includes some of the world’s most robust and innovative wireless and fiber optic solutions. Our talented and experienced global team is driven to help customers increase bandwidth; maximize existing capacity; improve network performance and availability; increase energy efficiency; and simplify technology migration. You will find our solutions in the largest buildings, venues and outdoor spaces; in data centers and buildings of all shapes, sizes and complexity; at wireless cell sites; in telecom central offices and cable headends; in FTTx deployments; and in airports, trains, and tunnels. Vital networks around the world run on CommScope solutions.
About Airvana
Airvana enables mobile operators to deliver dramatically better service to subscribers in the most challenging and high-value environments: offices, public venues, and in the home. The company’s award-winning 4G LTE and 3G small cell solutions ensure “five bar” voice coverage, superior data performance, and expanded capacity for wireless services. Independent research firms consistently rank Airvana among the small cell market share leaders. Headquartered in Chelmsford, Mass., USA, Airvana is a founding member of the Small Cell Forum and has 15 years of experience providing commercial wireless equipment to over 90 operators globally.
About Siris Capital Group
Siris Capital is a leading private equity firm focused on making control investments in data, telecommunications, technology and technology-enabled business service companies in North America. Integral to Siris’ investment approach is its partnership with exceptional senior operating executives, or Executive Partners, who work exclusively with Siris to identify, validate and operate investment opportunities. Their significant involvement allows Siris to partner with management to add value both operationally and strategically.
Siris Capital agrees to acquire Premiere Global Services for approximately $1 billion
Siris Capital agrees to acquire Premiere Global Services for approximately $1 billion
Atlanta — September 10, 2015 – Premiere Global Services, Inc. (“PGi”) (NYSE: PGI), the world’s largest dedicated provider of collaboration software and services, today announced that it has entered into a definitive agreement to be acquired by funds managed or advised by Siris Capital Group, LLC (“Siris”) in a transaction valued at approximately $1 billion.
Under the terms of the agreement, Siris will acquire all of the outstanding common stock of PGi for $14.00 per share in cash, representing a premium of approximately 23 percent over the closing price on September 10, 2015, and approximately 32 percent over PGi’s volume-weighted average share price during the 90 days ended September 10, 2015. The agreement was unanimously approved by PGi’s Board of Directors, which recommended that PGi’s shareholders approve and adopt the merger agreement with Siris. A special meeting of PGi’s shareholders will be held as soon as practicable following the filing of a definitive proxy statement with the U.S. Securities and Exchange Commission (“SEC”) and subsequent mailing to shareholders.
PGi may solicit alternative acquisition proposals from third parties during a 45-day “go-shop” period, following the date of execution of the merger agreement. There is no guarantee that this process will result in a superior proposal, and the merger agreement provides Siris with a customary right to match a superior proposal.
“Siris’ acquisition of PGi is a strong endorsement of our SaaS transformation strategy and provides immediate value to our shareholders,” said Boland Jones, PGi founder, chairman and CEO. “Working with Siris will allow PGi greater flexibility to accelerate our strategy in order to remain a leader in today’s highly competitive unified communications and collaboration (UC&C) market.”
Commenting on the transaction, Hubert de Pesquidoux, Siris Capital Executive Partner, said: “PGi has expertly navigated the rapidly evolving UC&C software and services space for over 20 years, and we see significant potential to further its market lead. We are eager to support PGi on its journey while also looking to drive new opportunities for innovation and growth as PGi continues to anticipate the changing needs of its world-class customer base.”
The transaction is subject to customary closing conditions, including the receipt of shareholder approval, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other foreign antitrust regulatory approvals, as necessary. The transaction is not subject to any financing condition. Upon completion of the acquisition, PGi will become wholly owned by an affiliate of Siris.
Allen & Company LLC is acting as financial advisor, and Alston & Bird LLP is acting as legal advisor to PGi in connection with the transaction. Siris has secured committed debt financing from Barclays Capital Inc., SunTrust Robinson Humphrey, Inc. and Macquarie Capital (USA) Inc., who acted as financial advisors. William Blair & Company and Evercore are also acting as financial advisors, and Sidley Austin LLP is acting as legal advisor to Siris in connection with the transaction.
For further information regarding the terms and conditions contained in the definitive merger agreement, please see PGi’s Current Report on Form 8-K, which will be filed in connection with this transaction.
About Premier Global Services, Inc. | PGi
PGi is the world’s largest dedicated provider of collaboration software and services. We created iMeet®, an expanding portfolio of purpose-built applications designed to meet the daily collaboration and communications needs of business professionals, with solutions for web, video and audio conferencing, smart calendar management, webcasting, project management and sales productivity. PGi’s award-winning UC&C solutions help nearly 50,000 businesses grow faster and operate more efficiently. To learn more, visit www.pgi.com.
About Siris Capital Group
Siris Capital is a leading private equity firm focused on making control investments in data, telecommunications, technology and technology-enabled business service companies in North America. Integral to Siris’ investment approach is its partnership with exceptional senior operating executives, or Executive Partners, who work exclusively with Siris to identify, validate and operate investment opportunities. Their significant involvement allows Siris to partner with management to add value both operationally and strategically. To learn more, visit www.siriscapital.com.
Forward-Looking Statements
Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties, many of which are beyond PGi’s control. Such forward-looking statements are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and are made based on management’s current expectations or beliefs as well as assumptions made by, and information currently available to, management. A variety of factors could cause actual results to differ materially from those anticipated in PGi’s forward-looking statements, including, but not limited to, the following factors: (i) the risk that the merger may not be consummated in a timely manner, if at all; (ii) the risk that the merger agreement may be terminated in circumstances that require PGi to pay Siris a termination fee; (iii) risks related to the diversion of management’s attention from PGi’s ongoing business operations; (iv) risks regarding the failure of Siris to obtain the necessary financing to complete the merger; (v) the effect of the announcement of the merger on PGi’s business relationships (including, without limitation, customers, strategic alliance partners and suppliers), operating results and business generally; (vi) risks related to satisfying the conditions to the merger, including the failure of PGi’s shareholders to approve the merger, timing (including possible delays) and receipt of regulatory approvals from various governmental entities (including any conditions, limitations or restrictions placed on these approvals) and the risk that one or more governmental entities may deny approval; (vii) the nature, cost and outcome of any future litigation and other legal proceedings, including any potential proceedings related to the proposed merger, (vii) risks and uncertainties associated with the merger, including the “go-shop” process and that competing acquisition proposals could be made; (ix) and other factors described from time to time in PGi’s press releases, reports and other filings made with the SEC, including but not limited to the “Risk Factors” section of PGi’s Annual Report on Form 10-K for the year ended December 31, 2014. All forward-looking statements attributable to PGi or a person acting on its behalf are expressly qualified in their entirety by these cautionary statements. PGi undertakes no obligation to publicly update or revise these forward looking statements for any reason.
Additional Information and Where to Find It
This communication may be deemed to be solicitation material in respect of the proposed acquisition of PGi. In connection with the proposed merger, PGi will prepare a proxy statement to be filed with the SEC on Schedule 14A. When completed, a definitive proxy statement and a form of proxy will be mailed to the shareholders of PGi. PGI’s SHAREHOLDERS ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT PGi WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT PGi AND THE PROPOSED MERGER. PGi’s shareholders will be able to obtain, without charge, a copy of the preliminary proxy statement, the definitive proxy statement and other relevant materials in connection with the proposed merger (when they become available), and any other documents filed by PGi with the SEC from the SEC’s website at www.sec.gov and on PGi’s website at www.pgi.com. PGi’s shareholders will also be able to obtain, without charge, a copy of the proxy statement and other relevant documents (when available) by directing a request by mail or telephone to Premiere Global Services, Inc., c/o Sean O’Brien, 3280 Peachtree Road, NE, The Terminus Building, Suite 1000, Atlanta, Georgia 30305, by emailing investors@pgi.com or by calling 1-800-749-9111, extension 8462.
PGi and its directors and officers may be deemed to be participants in the solicitation of proxies from PGi’s shareholders with respect to the special meeting of shareholders that will be held to consider the proposed merger. Information about PGi’s directors and executive officers and their ownership of PGi’s common stock is set forth in the proxy statement for PGi’s 2015 Annual Meeting of shareholders, which was filed with the SEC on April 27, 2015. Shareholders may obtain additional information regarding the interests of PGi and its directors and executive officers in the proposed transaction, which may be different than those of PGi’s shareholders generally, by reading the proxy statement and other relevant documents regarding the proposed merger, when filed with the SEC.
Media & Investor Contact:
Sean O’Brien
(404) 262-8462
sean.obrien@pgi.com
Neustar to acquire caller authentication assets of TNS
Neustar to acquire caller authentication assets of TNS
STERLING, VA — September 9, 2015 – Neustar, Inc. (NYSE:NSR), a trusted, neutral provider of real-time information services, today announced that it has entered into a definitive agreement to acquire caller authentication assets from Transaction Network Services (TNS), an affiliate of Siris Capital Group, for approximately $220 million in cash. The purchase price is effectively reduced to approximately $173 million after taking into account tax benefits resulting from the transaction.
This acquisition will allow Neustar to compete in the broad market for call authentication in mobile, broadband and wireless services with offerings that include subscriber data storage, database management, caller identification and verification services. The Company estimates that the acquired assets will generate approximately $60 million in revenue in 2016.
“With this acquisition, Neustar will be able to compete in the large and growing market for caller authentication and verification across calling platforms, both traditional and emerging,” said Lisa Hook, Neustar’s President and Chief Executive Officer. “The fundamental shift to mobile has forever changed how businesses and consumers engage, resulting in a need for creative solutions that enhance engagement in a way that must be neutral, trusted, and platform-agnostic. This acquisition expands our reach and accelerates our capability to deliver increased value to service providers, businesses, and consumers across the full spectrum of communication platforms.”
Paul Lalljie, Neustar’s Chief Financial Officer, added, “TNS’s caller authentication assets improve our ability to serve our clients by providing broader coverage. These assets generate strong profits, which are consistent with our long-term margin expectations. In addition, this asset purchase will generate estimated tax benefits of approximately $47 million, significantly improving the valuation profile of the deal.”
Neustar expects to fund the acquisition with cash on hand. The transaction is expected to close in the fourth quarter of 2015, pending Hart-Scott-Rodino approval.
About Neustar, Inc.
Neustar, Inc. (NYSE: NSR) is the first real-time provider of cloud-based information services, enabling marketing and IT security professionals to promote and protect their businesses. With a commitment to privacy and neutrality, Neustar operates complex data registries and uses its expertise to deliver actionable, data-driven insights that help clients make high-value business decisions in real time, one customer interaction at a time. More information is available at www.neustar.biz.
About Transaction Network Services
Transaction Network Services (TNS) is a leading global provider of data communications and interoperability solutions. TNS offers a broad range of networks and innovative value-added services which enable transactions and the exchange of information in diverse industries such as retail, banking, payment processing, telecommunications and the financial market. More information is available at www.tnsi.com
Founded in 1990 in the United States, TNS has grown steadily and now provides services in over 60 countries across the Americas, Europe and the Asia Pacific region, with reach extending to many more. TNS has designed and implemented multiple data networks which support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods.
TNS is a portfolio company of funds managed by Siris Capital Group.
About Siris Capital Group
Siris Capital is a leading private equity firm focused on making control investments in data, telecommunications, technology and technology-enabled business service companies in North America. Integral to Siris’ investment approach is its partnership with exceptional senior operating executives, or Executive Partners, who work exclusively with Siris to identify, validate and operate investment opportunities. Their significant involvement allows Siris to partner with management to add value both operationally and strategically. More information is available at www.siriscapital.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements in this press release regarding Neustar’s acquisition of certain caller authentication assets of TNS including, without limitation, the benefits of the transaction and any other statements regarding future expectations, beliefs, goals or business prospects, constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. The company cannot assure you that its expectations will be achieved or that any deviations will not be material. Forward-looking statements are subject to many assumptions, risks and uncertainties that may cause future results to differ materially from those anticipated. Among the important factors that could cause future events or results to vary from those addressed in the forward-looking statements include, without limitation, whether or not the transaction will close and the timeline to closing; the views of key customers, suppliers, and other industry participants regarding the transaction; the ability to realize the benefits of the transaction at the expected times or at all; the ability of the acquired business to retain existing customers, business relationships and key employees; and the impact of the transactions on the company’s existing businesses, customers, relationships, and key employees. More information about potential factors that could affect the company’s business and financial results is included in its filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2014 and subsequent periodic reports. All forward-looking statements are based on information available to the company on the date of this press release, and the company undertakes no obligation to update any of the forward-looking statements after the date of this press release.
Investor Relations:
Dave Angelicchio, 571-434-3443
InvestorRelations@neustar.biz
or
Press:
Lara Wyss, 415-659-6154
PR@neustar.biz
Siris Capital raises $1.81 billion for third technology-focused fund
Siris Capital raises $1.81 billion for third technology-focused fund
New York, NY, February 12, 2015 – Siris Capital Group, LLC (“Siris”), a leading technology private equity investment firm, has completed fund raising for Siris Partners III, L.P (“Siris III”). Siris III officially came to market in late September 2014 and closed at $1.81 billion of aggregate capital commitments, well exceeding its initial target of $1 billion.
Mssrs. Frank Baker, Peter Berger and Jeffrey Hendren founded Siris in 2011 having worked together for over 16 years dating back to their tenures at Ripplewood Holdings. Siris targets complex technology situations; typically where businesses are caught in the midst of a technology transition.
With the final closing of Siris III, Siris will manage over $2.4 billion in cumulative capital commitments on behalf of various leading pension funds, endowments, foundations, financial institutions, insurance companies, among other investors, globally.
“We are thankful for the overwhelming level of support we received from both our existing and new investors committing to Siris III,” said Co-Founder and Managing Partner, Frank Baker. “Technology disruptions continue to create unique investment opportunities at attractive valuations. Leveraging our deep operational expertise, we are well positioned to continue to benefit from this trend.”
Park Hill Group LLC served as placement agent and Kirkland & Ellis LLP served as legal counsel for Siris III.
Contacts:
Philip Lo
Director
212-231-0096
lo@siriscapital.com
Siris Capital completes the acquisition of Digital River for approximately $840 million
Siris Capital completes the acquisition of Digital River for approximately $840 million
Minneapolis, MN, February 12, 2015 – Digital River, Inc. (“Digital River”), a leading global provider of Commerce-as-a-Service solutions, today announced the completion of its acquisition by an investor group led by Siris Capital Group, LLC (“Siris”). The execution of a definitive merger agreement outlining the terms of the transaction, which is valued at approximately $840 million, was initially announced on October 23, 2014. In the transaction, all outstanding shares of Digital River common stock (subject to certain exceptions) were converted into the right to receive $26 in cash per share.
Digital River’s stockholders approved the acquisition on Thursday, February 12, 2015. Based on a tabulation of the stockholder vote, approximately 99.6 percent of all votes cast, which represents approximately 74 percent of all outstanding shares as of January 7, 2015, the record date for the special meeting, were voted in favor of the merger. Digital River stockholders also approved the proposal to approve, on an advisory (non-binding) basis, specified compensation payable to the Company’s named executive officers in connection with the merger.
In connection with the completion of the transaction, Digital River’s common stock will be delisted from NASDAQ, and the Company, which will continue to operate as Digital River, Inc., will be wholly owned by an affiliate of Siris. Digital River intends to thereafter terminate its duties to file reports with the Securities and Exchange Commission under Section 15(d) of the Securities Exchange Act of 1934, as amended.
“With 20 years of experience, a deep bench of industry experts and a strong portfolio of global capabilities, Digital River is in a prime position to further extend its market leadership,” said Dan Moloney, Siris executive partner. “We are pleased to have completed this transaction and look forward to working with the management team and employees to further advance the company’s value proposition, investing and innovating to help its clients succeed.”
“We are excited to begin this new chapter in Digital River’s history with Siris as our partner,” said David Dobson, Digital River’s chief executive officer. “We will be well positioned to sharpen our focus on longer-term, high-potential global opportunities, accelerate our transformation, as well as deliver even more value for our clients. We are fully committed to furthering our mission, which is to provide best-in-class commerce, payments and marketing solutions that drive growth for our clients on a worldwide basis.”
About Digital River
Backed by 20 years of ecommerce experience, Digital River is recognized as a leading global provider of Commerce-as-a-Service solutions. Companies of all sizes rely on Digital River’s multi-tenant, SaaS commerce, payments and marketing services to manage and grow their online businesses. In 2013, Digital River processed more than $30 billion in online transactions, connecting B2B and B2C digital products and cloud service companies as well as branded manufacturers with buyers across multiple devices and channels, and nearly every country in the world.
Digital River is headquartered in Minneapolis with offices across the U.S., Asia, Europe and South America. www.digitalriver.com
About Siris Capital
Siris Capital is a leading private equity firm focused on making control investments in data, telecommunications, technology and technology-enabled business service companies in North America. Integral to Siris’ investment approach is its partnership with exceptional senior operating executives, or Executive Partners, who work exclusively with Siris to identify, validate and operate investment opportunities. Their significant involvement allows Siris to partner with management to add value both operationally and strategically. www.siriscapital.com
Contacts:
Siris Capital
Philip Lo
Director
212-231-0096
lo@siriscapital.com
Digital River
Melissa Fisher
VP, Corporate Development, Investor Relations & Treasury
952-225-3351
investorrelations@digitalriver.com