M&A Deal Summary

JMI Equity, Hellman & Friedman and ABS Capital Partners Acquire DoubleClick

On April 25, 2005, private equity firms JMI Equity, Hellman & Friedman and ABS Capital Partners acquired internet software and services company DoubleClick for 1.1B USD

Acquisition Highlights
  • This is JMI Equity’s 2nd, Hellman & Friedman’s 1st and ABS Capital Partners’ 2nd transaction in the Internet Software and Services sector.
  • This is JMI Equity’s 5th, Hellman & Friedman’s 30th and ABS Capital Partners’ largest (disclosed) transaction.
  • This is JMI Equity’s 24th, Hellman & Friedman’s 13th and ABS Capital Partners’ 18th transaction in the United States.
  • This is JMI Equity’s 1st, Hellman & Friedman’s 2nd and ABS Capital Partners’ 1st transaction in New York.
Investment Fate
  • DoubleClick was sold to a publicly-traded strategic buyer in 2008 for 3.1B USD.

M&A Deal Summary

Date 2005-04-25
Target DoubleClick
Sector Internet Software and Services
Buyer(s) JMI Equity
Hellman & Friedman
ABS Capital Partners
Deal Type Going Private
Deal Value 1.1B USD

Target

DoubleClick

New York, New York, United States
website
DoubleClick, Inc. is a provider of digital marketing technology and services. The world’s top marketers, publishers and agencies utilize DoubleClick’s expertise in ad serving, rich media, video, search and affiliate marketing to help them make the most of the digital medium.

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Buyer(S) 3

Buyer

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $10 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.


DEAL STATS #
Overall 27 of 125
Sector (Internet Software and Services) 2 of 40
Type (Going Private) 1 of 7
State (New York) 1 of 8
Country (United States) 24 of 109
Year (2005) 2 of 4
Size (of disclosed) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-18 Attachmate

Seattle, Washington, United States

Attachmate Corp. is a provider of advanced software for terminal emulation, legacy modernization, managed file transfer and enterprise fraud management.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-01 Micro Focus

Newbury, United Kingdom

Micro Focus is a provider of innovative software that allows companies to dramatically improve the business value of their enterprise applications. Micro Focus Enterprise Application Modernization, Testing and Management software enables customers’ business applications to respond rapidly to market changes and embrace modern architectures with reduced cost and risk. Micro Focus was founded in 1976 and is based in Newbury, the United Kingdom.

Sell -
Buyer

Hellman & Friedman

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Hellman & Friedman (H&F) is a large private equity firm on the West Coast of the US. H&F focuses on control and minority investments in a variety of transaction structures and will consider opportunities across the US and Europe. H&F seeks buyouts and business in need of restructurings that operate in defensible markets with predictable revenue and earnings growth. Target sectors include financial services, healthcare, indusrial, energy, insurance, media, marketing, professional services, software, and information services. H&F's target equity investment size is $300 million to $1 billion. Hellman & Friedman was formed in 1984 and has offices in San Francisco, New York City, and London.


DEAL STATS #
Overall 18 of 87
Sector (Internet Software and Services) 1 of 10
Type (Going Private) 1 of 17
State (New York) 2 of 8
Country (United States) 13 of 60
Year (2005) 1 of 3
Size (of disclosed) 30 of 39
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-23 Vertafore

Denver, Colorado, United States

Vertafore, Inc. is a cloud-based software that provides agency management, compliance, workflow, and data solutions that simplify and automate the complex property and casualty (“P&C”) insurance lifecycle. More than 20,000 agencies and 1,000 insurance carriers rely on Vertafore to streamline their processes, improve efficiency, and drive productivity. Vertafore, Inc. was founded in 1969 and is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-28 GeoVera

Fairfield, California, United States

GeoVera is a provider of specialty residential property insurance in markets that are underserved by other insurance carriers due to their exposure to certain perils, such as hurricanes or earthquakes. GeoVera offers specialty homeowners products primarily on a non-admitted, or excess and surplus line, basis in wind-exposed areas in the Southeast United States and Hawaii, and residential earthquake products primarily on an admitted basis in the Western United States. GeoVera was founded in 1993 and is based in Fairfield, California.

Buy -
Buyer

ABS Capital Partners

Hunt Valley, Maryland, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1990
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ABS Capital Partners is a private equity firm that invests in later-stage growth companies in the healthcare, technology, business services, media and communications sectors. ABS provides capital to help fund growth, provide shareholder liquidity, pursue acquisitions, or to effect a management buyout. The Firm prefers US based business and will consider both majority and minority positions. ABS looks to commit $10 to $30 million per transaction. ABS Capital was formed in 1990 and has offices in Baltimore, Maryland; Waltham, Massachusetts; and San Francisco, California.


DEAL STATS #
Overall 18 of 64
Sector (Internet Software and Services) 2 of 10
Type (Going Private) 1 of 1
State (New York) 1 of 6
Country (United States) 18 of 63
Year (2005) 1 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 US Labs.

Irvine, California, United States

US LABS is a national, anatomic pathology reference laboratory devoted to comprehensive, high-quality, rapid-response cancer testing. The company provides diagnostic, prognostic, and predictive cancer testing services to hospitals, physician offices and surgery centers and research institutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-29 NeuStar

Reston, Virginia, United States

NeuStar is a global information services provider driving the connected world forward with trusted, holistic identity resolution. The company serves many of the world’s brands to grow and guard their businesses with the most complete understanding of how to connect people, places, and things. The combination of Neustar’s unique, accurate and real-time identity system and its cloud-based workflow solutions empower businesses to make actionable, precise, and valuable decisions across marketing, risk, IT/security, network & operations departments. As the current sole provider to the U.S. Number Portability Administration Center, Neustar also facilitates the routing of all telephone call and text messages in the U.S. NeuStar was formed in 1996 and is based in Sterling, Virginia.

Sell -