M&A Deal Summary

TPG Acquires DIRECTV

On February 25, 2021, private equity firm TPG acquired media company DIRECTV from AT&T

Acquisition Highlights
  • This is TPG’s 8th transaction in the Media sector.
  • This is TPG’s 242nd transaction in the United States.
  • This is TPG’s 79th transaction in California.

M&A Deal Summary

Date 2021-02-25
Target DIRECTV
Sector Media
Buyer(s) TPG
Sellers(s) AT&T
Deal Type Divestiture

Target

DIRECTV

El Segundo, California, United States
website
DIRECTV is a provider of digital television entertainment services delivering a premium video experience through state-of-the-art technology, programming, and industry-leading customer service to more than millions of customers in the U.S. and Latin America. DIRECTV was founded in 1977 and is based in El Segundo, California.

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Buyer(S) 1

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 369 of 401
Sector (Media) 8 of 9
Type (Divestiture) 30 of 36
State (California) 79 of 82
Country (United States) 242 of 269
Year (2021) 5 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-23 Gelson s Markets

Encino, California, United States

Gelson’s currently operates 27 full-service specialty grocery stores in Southern California. Each Gelson’s Market features the full amenities of a traditional supermarket, with the local flavor of a neighborhood market. Gelson's Markets was founded in 2013 and is based in Encino, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-02 Thycotic Software

Washington, District of Columbia, United States

Thycotic is privileged access management, a critical layer of IT security that protects an organization's data, devices, and code across cloud, on-premise, and hybrid environments. Recognized as a leader by every major industry analyst group, its modern cloud-ready PAM solutions dramatically reduce the complexity and cost of securing privileged access.

Buy -

Seller(S) 1

SELLER

AT&T

Dallas, Texas, United States

website


Category Company
Founded 1983
Sector Communications
Employees160,700
Revenue 120.7B USD (2022)
DESCRIPTION
AT&T's corporate headquarters in downtown Dallas, Texas.
AT&T's corporate headquarters in downtown Dallas, Texas.

AT&T is a provider of telecommunications services in the United States and the world. AT&T offers services and products to consumers in the US and services and products to businesses and other providers of telecommunications services worldwide. AT&T's services and products include wireless communications, local exchange services, long-distance services, data/broadband and Internet services, video services, telecommunications equipment, managed networking, and wholesale services. AT&T was founded in 1983 and is headquartered in Dallas, Texas.


DEAL STATS #
Overall 17 of 23
Sector (Media) 2 of 4
Type (Divestiture) 13 of 19
State (California) 4 of 5
Country (United States) 15 of 20
Year (2021) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-09 Crunchyroll

San Francisco, California, United States

Crunchyroll, Inc. is a provider of destination and platform for Japanese anime and Asian content. Crunchyroll delivers more than 25,000 episodes and 15,000 hours of officially-licensed content from Asian media producers directly to viewers translated professionally in multiple languages within minutes of the TV broadcast, through applications including Crunchyroll for iPhone, iPad, Android, Kindle, Windows Phone, Playstation 3, Playstation 4, Playstation Vita, Xbox LIVE on Xbox 360 and Xbox One, AppleTV, Roku, Nintendo WiiU, Internet-enabled TVs, set-top boxes, and more. Crunchyroll was founded in 2006 and is based in San Francisco, California.

Sell $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-05 Chilevision

Santiago, Chile

Chilevision is producer of substantial content spanning multiple genres including sports, entertainment, and news. Chilevision was founded in 1960 and is based in Santiago, Chile.

Sell -