M&A Deal Summary

Cincinnati Bell Acquires OnX Enterprise Solutions

On October 2, 2017, Cincinnati Bell acquired internet software and services company OnX Enterprise Solutions from Marlin Equity Partners for 201M USD

Acquisition Highlights
  • This is Cincinnati Bell’s 1st transaction in the Internet Software and Services sector.
  • This is Cincinnati Bell’s 3rd largest (disclosed) transaction.
  • This is Cincinnati Bell’s 1st transaction in Canada.
  • This is Cincinnati Bell’s 1st transaction in Ontario.

M&A Deal Summary

Date 2017-10-02
Target OnX Enterprise Solutions
Sector Internet Software and Services
Buyer(s) Cincinnati Bell
Sellers(s) Marlin Equity Partners
Deal Type Add-on Acquisition
Deal Value 201M USD

Target

OnX Enterprise Solutions

Thornhill, Ontario, Canada
OnX Enterprise Solutions Ltd. is a global enterprise data center solutions provider with a suite of end-to-end solutions including the industry’s leading enterprise cloud offerings. OnX Enterprise Solutions was founded in 2006 and is based in Thornhill, Ontario.

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Buyer(S) 1

Buyer

Cincinnati Bell

Cincinnati, Ohio, United States

Category Company
Founded 1873
Sector Communications
Employees4,300
Revenue 1.5B USD (2019)
DESCRIPTION
Cincinnati Bell's corporate headquarters in Cincinnati, Ohio.
Cincinnati Bell's corporate headquarters in Cincinnati, Ohio.

Cincinnati Bell, Inc. is a provider of integrated communications solutions, including local and long-distance voice, data, high-speed Internet and entertainment services. Cincinnati Bell serves customers in Greater Cincinnati and Dayton. Cincinnati Bell was founded in 1873 and is based in Cincinnati, Ohio.


DEAL STATS #
Overall 3 of 6
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 3 of 4
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-07 Cincinnati Bell - Wireless Spectrum Licenses

Cincinnati, Ohio, United States

Cincinnati Bell, Inc. - Wireless Spectrum Licenses is a provider of communication services in US.

Sell $210M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-02 Hawaiian Telcom Holdco

Honolulu, Hawaii, United States

Hawaiian Telcom Holdco, Inc. is a provider of integrated communications and entertainment solutions for business and residential customers. Hawaiian Telcom was founded in 1883 and is based in Honolulu, Hawaii.

Buy $650M

Seller(S) 1

SELLER

Marlin Equity Partners

Hermosa Beach, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 8.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Marlin Equity's headquarters in Hermosa Beach, California.
Marlin Equity's headquarters in Hermosa Beach, California.

Marlin Equity Partners is a private investment firm focused on acquiring distressed businesses with sales of $10 million to $2 billion. Marlin has a special interest in non-core or underperforming divisions of larger corporations, as well as companies facing some sort of financial, operational or market-related transition. Marlin is a generalist investor and will consider opportunities in technology (software, IT, payment systems, hardware, communications, internet), healthcare, consumer (apparel, retail, consumer products, food/beverage), services (business, financial, consumer, education), manufacturing (automotive, industrial, metals, plastics), aerospace, defense, and media. Marlin prefers businesses with scalable business models, strong installed customer bases, defensible market positions, and barriers to entry. Marlin Equity Partners was formed in 2005 and is based in Hermosa Beach, California with an additional office in London.


DEAL STATS #
Overall 26 of 57
Sector (Internet Software and Services) 4 of 14
Type (Add-on Acquisition) 20 of 38
State (Ontario) 2 of 4
Country (Canada) 1 of 4
Year (2017) 9 of 9
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-12 Bluegarden Holding A/S

Ballerup, Denmark

Bluegarden develops and offers payroll and HR administration and selected services within strategic HRM to the Scandinavian market. Bluegarden has established a leading position in the market and is today serving 65.000 customers in Denmark, Norway, and Sweden. The group has 550 employees and its net revenue amounted to 793 MDKK in 2016.The company’s headquarter is located in Ballerup, Denmark.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-05 AppRiver

Gulf Breeze, Florida, United States

AppRiver LLC is a provider of cloud-based cybersecurity and productivity software and services to over 53,000 companies worldwide. AppRiver offers a comprehensive suite of security products, including advanced spam and virus filtering, web malware protection, email encryption, secure archiving and email continuity services. AppRiver LLC was launched in 2002 and headquartered in Gulf Breeze, Florida.

Buy -