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Vista Portfolio Company Acquires Cloud Security Provider
Austin – February 8, 2017 – Global cybersecurity leader Forcepoint™ today announced the acquisition of the Skyfence business from Imperva. The acquisition plays a pivotal role in Forcepoint’s strategy to deliver cybersecurity systems that help customers understand people’s behaviors and intent as they interact with data and IP wherever it may reside, including fast-growing cloud applications. “Forcepoint is committed to enabling our customers to empower individuals to leverage critical business data and intellectual property how, when and where they choose,” said Matthew P. Moynahan, chief executive officer of Forcepoint. “The integration of Skyfence across Forcepoint’s broad product portfolio will further deliver on this promise, while helping to reduce enterprise security risk.” Integrating Skyfence’s cloud access security broker (CASB) capabilities with Forcepoint’s web security and data loss prevention (DLP) technologies will provide customers increased visibility, control and security as users interact with data wherever it resides, including within cloud applications. The
Clearlake Capital Portfolio Company Prices Public Offering
THE WOODLANDS, TX, February 2, 2017 – Smart Sand, Inc. (the “Company”) has priced a public offering of 5,950,000 shares of its common stock at $17.50 per share, of which 1,500,000 shares are to be sold by the Company and 4,450,000 shares are to be sold by the selling stockholders named in the registration statement on Form S-1 filed previously with the U.S. Securities and Exchange Commission (“SEC”). The selling stockholders have granted the underwriters a 30-day option to purchase from the selling stockholders up to an additional 892,500 shares of the Company’s common stock. The Company’s shares of common stock are traded on the NASDAQ Global Select Market under the ticker symbol “SND.” The offering is expected to close on February 7, 2017, subject to customary closing conditions. The Company intends to use the net proceeds it receives from the offering for future capital projects and general corporate purposes.
Siris Capital Portfolio Company to Acquire Provider of Cloud Communications Services
ATLANTA, January 12, 2017 – PGi, the world’s largest dedicated provider of collaboration software and services, today announced that it has entered into a definitive agreement to acquire Denver-based ReadyTalk, a leading provider of cloud communications services, including audio, web and video conferencing, and self-service and managed webinar solutions. “We have admired ReadyTalk for years. They are well-known for having great products built by great people with a strong commitment to the success of their customers and partners,” said Ted Schrafft, President and CEO, PGi. “ReadyTalk’s focus on mid-market customers and carrier partners aligns perfectly with PGi’s strategic and go-to-market priorities for 2017 and beyond. We are excited to welcome ReadyTalk to the growing PGi family later this month.” ReadyTalk was founded in 2001 and, today, provides collaboration software and services to more than 6,000 small- and mid-sized businesses. Like PGi, ReadyTalk has differentiated its brand in a competitive market
Securities Regulatory Outlook for 2017
With 868 enforcement actions brought by the SEC, 2016 was a year of increased regulations and record enforcement actions against Investment Advisors/Investment Companies and Broker Dealers. More than $4 billion in disgorgement and penalties were assessed by the SEC and $145 million in fines and $41 million in restitution by FINRA. Promises of deregulation and a new administration in the White House raises the question: What will 2017 bring? From the Regulators FINRA On January 5, 2017, FINRA released its Regulatory and Examination Priorities letter highlighting areas FINRA will focus on in 2017. The focus areas are: High-Risk and Recidivist Brokers FINRA will devote particular attention to firms’ hiring and monitoring of high-risk and recidivist brokers. FINRA will identify high-risk brokers and examine their customer interactions and compliance with relevant regulations. They will assess whether firms develop and implement a “supervisory plan reasonably tailored to detect and prevent future misconduct
Siris Capital Affiliate to Acquire Mitel Mobile and Ranzure Networks
WAKEFIELD, MA, December 19, 2016 – Xura, Inc. (“Xura”), a leading provider of digital communications services, today announced that its affiliates have entered into definitive agreements to acquire Mitel Mobility, Inc. (“Mitel Mobile”), a division of Mitel Networks Corporation (“Mitel”, Nasdaq: MITL, TSX: MNW), and Ranzure Networks, Inc. (“Ranzure”). Mitel Mobile, formerly Mavenir Systems, is a leading provider of Voice-over-Long-Term Evolution (“VoLTE”), Voice-over-WiFi (“VoWiFi”), video, Rich Communication Services (“RCS”), messaging, radio access and packet core solutions Ranzure, founded by former Mavenir Systems CEO Pardeep Kohli, is an early-stage venture focused on developing 5G Cloud Radio Access Network (“RAN”) technology The Xura Board of Directors has appointed Pardeep Kohli, formerly CEO of Mitel Mobile’s predecessor (Mavenir Systems) and Co-Founder and CEO of Ranzure Networks, to succeed Philippe Tartavull as CEO of Xura, effective today. Upon completion of the transactions, Mr. Kohli will serve as the CEO of the combined company. Mitel
Clearlake Capital to Acquire LANDESK
SANTA MONICA, CA AND SALT LAKE CITY, UT — January 3, 2017 — Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) today announced that it has signed a definitive agreement to acquire LANDESK from Thoma Bravo. Financial terms of the transaction were not disclosed. As part of the transaction, Clearlake will contribute its portfolio company HEAT Software (“HEAT”) to the new platform investment in LANDESK. LANDESK’s leadership in providing software to simplify IT complexity is further strengthened by HEAT’s Cloud-based Service Management (CSM) and Unified Endpoint Management (UEM) software solutions. HEAT delivers flexible, scalable, and secure CSM, UEM, and endpoint security solutions, along with a robust, global, and rapidly growing SaaS platform that is complementary to LANDESK’s product portfolio. The combination will provide additional geographic reach and vertical depth, and will enable the company to better serve IT organizations with solutions to manage and secure end user environments. The
The Wicks Group Acquires Invo Healthcare Associates
New York, January 9, 2017 – Invo Healthcare Associates, LLC (“Invo”), announced that The Wicks Group of Companies (“Wicks”), a private investment firm, has completed a majority recapitalization of the company along with management and Invo’s existing shareholders at Post Capital Partners (“Post Capital”). The terms of the transaction, which closed on December 23, 2016, were not disclosed. Based in Jamison, PA, Invo is a leading national provider of school and community behavioral health and other therapeutic services to individuals with special needs, including Autism Spectrum Disorder (“ASD”). The company serves more than 60,000 children annually in the areas of occupational therapy, physical therapy, speech and language pathology, and Applied Behavioral Analysis (“ABA”), in schools and other community-based settings across the United States. Commenting on the transaction, Invo CEO Anthony Manley said, “I am thrilled to continue in the service of Invo’s mission with our new partners at Wicks and
Neuberger Berman Raises $2.5 Billion for Fourth Global Private Equity Secondary Fund
New York, January 5, 2017 — Neuberger Berman, a private, independent, employee-owned investment manager, is pleased to announce the final close of NB Secondary Opportunities Fund IV LP (“SOF IV”), Neuberger Berman’s fourth global private equity secondary fund. SOF IV closed at $2.5 billion, surpassing its target of $2.0 billion. SOF IV, which launched in April 2016, is the successor to NB Secondary Opportunities Fund III LP, which had commitments of $2.0 billion. SOF IV seeks to achieve attractive risk-adjusted returns through the purchase of seasoned private equity investments from investors seeking liquidity. SOF IV has a global mandate and will pursue secondary opportunities in private equity funds, direct investments, co-investments and structured private equity opportunities. SOF IV’s investment team is led by Brian Talbot, Tristram Perkins, Ethan Falkove and Benjamin Perl. The team has significant secondary experience and a proven track record dating back to 1991. The investment team
Department of Labor’s Intial Guidance on Fiduciary Rule
About our Contributors ICS Group is a regulatory compliance consulting firm specializing in providing compliance support to the financial services and insurance industries. We help our clients comply with regulatory requirements and industry standards. Our clients include: registered investment advisers, private equity funds, hedge funds, mutual funds, broker-dealers, insurance companies and state pension plans. Our team of highly experienced compliance professionals know from first-hand experience what regulators are looking for, the industry standards that apply, and how to develop and implement cost-effective business-oriented solutions. On October 27, 2016, the U.S. Department of Labor (“DOL”) released initial guidance primarily addressing the BIC exemption under the Fiduciary Rule. The Fiduciary Rule expands the scope of the definition of fiduciary for employer-sponsored plans and swept in non-ERISA investment vehicles such as IRAs and HSAs. A key aspect of the expanded definition is the “Best Interest Contract” exemption (BIC) which allows firms and advisers
Vista Equity Partners Completes Cash Tender Offer for Shares of Infoblox
November 7, 2016 – Santa Clara, Calif. – Infoblox Inc. (NYSE: BLOX) (“Infoblox” or the “Company”) and Vista Equity Partners (“Vista”) today announced the successful completion of the tender offer (the “Offer”) by India Merger Sub, Inc. (“Merger Sub”), a wholly owned subsidiary of Delta Holdco, LLC (“Parent”) and an affiliate of Vista, for all of the outstanding shares of common stock of the Company at a price of $26.50 per share, net to the seller in cash without interest and less any applicable withholding taxes or deductions required by applicable law, if any. The Offer expired as scheduled at 12:00 midnight, New York City time, at the end of November 4, 2016. As of the expiration of the tender, approximately 43,826,362 shares of common stock of Infoblox were validly tendered and not validly withdrawn in the Offer (not including 4,434,551 shares tendered pursuant to notices of guaranteed delivery), representing