M&A Deal Summary

Parallax Capital Partners and StepStone Private Equity Acquires DivX

On March 31, 2014, private equity firms Parallax Capital Partners and StepStone Private Equity acquired digital media company DivX, Inc. from Tivo Corp. for 75M USD

Acquisition Highlights
  • This is Parallax Capital Partners’ 1st and StepStone Private Equity’s 1st transaction in the Digital Media sector.
  • This is Parallax Capital Partners’ 1st and StepStone Private Equity’s 1st largest (disclosed) transaction.
  • This is Parallax Capital Partners’ 11th and StepStone Private Equity’s 2nd transaction in the United States.
  • This is Parallax Capital Partners’ 4th and StepStone Private Equity’s 2nd transaction in California.
Investment Fate
  • DivX was sold to a publicly-traded strategic buyer in 2015 for 63M USD.

M&A Deal Summary

Date 2014-03-31
Target DivX, Inc.
Sector Digital Media
Buyer(s) Parallax Capital Partners
StepStone Private Equity
Sellers(s) Tivo Corp.
Deal Type Divestiture
Deal Value 75M USD

Target

DivX, Inc.

San Diego, California, United States
website
DivX, Inc. is a digital media company that enables consumers to enjoy a high-quality video experience across any kind of device. The DivX brand is recognized worldwide and supported by a community of millions of consumers.

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Buyer(S) 2

Buyer

Parallax Capital Partners

Laguna Hills, California, United States

Investor Investor

website


Category Private Equity Firm
Founded 1999
SizeMiddle-Market
Type Sector Focused
DESCRIPTION

Parallax Capital Partners is a private equity firm focused on acquiring middle-market software and related technology companies. Prospective transactions include corporate divestitures, take privates, management buyouts, private company acquisitions, and recapitalizations. Target companies typically have $5 to $100 million in revenue and offer mission-critical products or services. Parallax will consider opportunities in North and South America, Europe, or Asia. Parallax Capital Partners was formed in 1999 and is based in Laguna Hills, California.


DEAL STATS #
Overall 12 of 16
Sector (Digital Media) 1 of 1
Type (Divestiture) 2 of 3
State (California) 4 of 6
Country (United States) 11 of 15
Year (2014) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-17 IdenTrust, Inc.

San Francisco, California, United States

IdenTrust, Inc. is a security and identity software and services provider.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-21 Daptiv Solutions LLC

Seattle, Washington, United States

Daptiv Solutions LLC is the on-demand project management and collaborative business software that enables companies of all sizes to transform their mid-office business operations.

Sell -
Buyer

StepStone Private Equity

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
SizeLarge
Type Sector Agnostic
DESCRIPTION

StepStone Private Equity is the private equity arm of StepStone Global, a global alternative investment and asset management firm. StepStone Private Equity manages and makes fund investments as well as co-invests in direct opportunities spanning buyout, venture, distressed, private debt, and energy. StepStone Private Equity is based in La Jolla, California.


DEAL STATS #
Overall 2 of 5
Sector (Digital Media) 1 of 1
Type (Divestiture) 1 of 1
State (California) 2 of 2
Country (United States) 2 of 4
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-17 IdenTrust, Inc.

San Francisco, California, United States

IdenTrust, Inc. is a security and identity software and services provider.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-06 Ruby Receptionists, Inc.

Portland, Oregon, United States

Ruby Receptionists, Inc. is a technology-enabled provider of live, virtual receptionist services to small and medium businesses. Ruby Receptionists was formed in 2003 and is based in Portland, Oregon.

Buy -

Seller(S) 1

SELLER

Tivo Corp.

San Jose, California, United States

website


Category Company
Founded 1983
SectorTechnology Hardware
Employees1,700
Revenue 696M USD (2018)
DESCRIPTION

Tivo Corporation provides guidance technology, entertainment data, copy protection, industry standard networking and media management technology for digital entertainment devices and services. Rovi was formed in 1983 and is based in San Carlos, California. Tivo was founded in 1983 and is based in San Jose, California.


DEAL STATS #
Overall 6 of 6
Sector (Digital Media) 1 of 1
Type (Divestiture) 5 of 5
State (California) 4 of 4
Country (United States) 6 of 6
Year (2014) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-24 Veveo, Inc.

Andover, Massachusetts, United States

Veveo, Inc. is a provider of intuitive and personalized entertainment discovery solutions based in Andover, Massachusetts.

Buy $62M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-03 Fanhattan, Inc.

San Mateio, California, United States

Fanhattan’s Fan TV is the simplest way for people to discover, watch and share the movies and shows they love. Fan TV combines live TV, video-on-demand and streaming services in a seamless discovery experience through one device with a touch remote.

Buy -