M&A Deal Summary

Comcast Acquires Patriot Media and Communications

On August 1, 2007, Comcast acquired communications company Patriot Media and Communications from Spire Capital Partners and Spectrum Equity for 483M USD

Acquisition Highlights
  • This is Comcast’s 4th transaction in the Communications sector.
  • This is Comcast’s 3rd largest (disclosed) transaction.
  • This is Comcast’s 5th transaction in the United States.
  • This is Comcast’s 1st transaction in Connecticut.

M&A Deal Summary

Date 2007-08-01
Target Patriot Media and Communications
Sector Communications
Buyer(s) Comcast
Sellers(s) Spire Capital Partners
Spectrum Equity
Deal Type Add-on Acquisition
Deal Value 483M USD

Target

Patriot Media and Communications

Greenwich, Connecticut, United States
website
Patriot Media and Communications LLC is a cable operator that focused on providing video (basic, premium, digital cable and video on demand), data (broadband Internet) and voice (VOIP) services.

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Buyer(S) 1

Buyer

Comcast

Philadelphia, Pennsylvania, United States

website


Category Company
Founded 1963
Sector Media
Employees186,000
Revenue 121.4B USD (2022)
DESCRIPTION
Comcast Center in downtown Philadelphia, Pennsylvania.
Comcast Center in downtown Philadelphia, Pennsylvania.

Comcast is a media and communications company. Comcast provides entertainment, information, and communications products and services in the United States and internationally. Comcast was incorporated in 1963 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 5 of 25
Sector (Communications) 4 of 7
Type (Add-on Acquisition) 3 of 20
State (Connecticut) 1 of 1
Country (United States) 5 of 23
Year (2007) 2 of 2
Size (of disclosed) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-01 Fandango

Los Angeles, California, United States

Fandango, Inc. is an online movie destination and ticketing source. Fandango entertains and informs consumers with reviews, commentary, celebrity interviews and trailers, and offers the ability to quickly select a film, plan where and when to see it, and conveniently buy tickets in advance.

Buy $200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-14 Plaxo

Sunnyvale, California, United States

Plaxo is a provider of software tools and services to manage contacts.

Buy $150M

Seller(S) 2

SELLER

Spire Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spire Capital Partners is a private equity firm that targets buyout investments in mid-sized information services, media, communications, and business service companies. The Firm looks for cash-flow positive, US-based businesses with high barriers to entry. Spire seeks to commit $15 to $125 million of equity per transaction and has an investment horizon of three to seven years. Spire Capital Partners was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 7 of 26
Sector (Communications) 2 of 3
Type (Add-on Acquisition) 7 of 19
State (Connecticut) 1 of 1
Country (United States) 6 of 25
Year (2007) 2 of 2
Size (of disclosed) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-01 American Community Newspapers

Leesburg, Virginia, United States

American Community Newspapers LLC is a publisher of community newspapers, daily newspapers, a weekly shopper and business and specialty publications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-02 Certiport

American Fork, Utah, United States

Certiport, Inc. is a developer, marketer and distributor of education and certification testing programs for end-users of Microsoft, Adobe and Digital Literacy programs in the academic, corporate and workforce segments worldwide. Certiport is a well positioned, scalable business services company with a worldwide marketing and distribution network, consisting of more than 12,000 testing centers.

Buy -
SELLER

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1994
PE ASSETS 4.7B USD
Size Large
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $100 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.


DEAL STATS #
Overall 17 of 70
Sector (Communications) 7 of 9
Type (Add-on Acquisition) 12 of 43
State (Connecticut) 1 of 2
Country (United States) 16 of 63
Year (2007) 4 of 4
Size (of disclosed) 15 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-19 Interbank Fx

Salt Lake City, Utah, United States

Interbank FX, LLC is a leading provider of online foreign exchange trading services, offering individual traders, fund managers and institutional customers proprietary technology and tools to trade spot foreign currency online.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 RiskMetrics Group

New York, New York, United States

RiskMetrics Group, Inc. is a provider of risk analytics and information processing to the global financial services community. The RiskMetrics service offering allows investors, shareholders, managers, and regulators to measure and manage financial risk.

Sell -