M&A Deal Summary

PLDT Acquires Straive

On January 1, 2006, PLDT acquired information technology company Straive from TH Lee Putnam Ventures and Five Elms Capital for 159M USD

Acquisition Highlights
  • This is PLDT’s 1st transaction in the Information Technology sector.
  • This is PLDT’s largest (disclosed) transaction.
  • This is PLDT’s 1st transaction in Philippines.
Investment Fate
  • Straive was divested to a consortium of buyers in 2013.
  • Straive was sold to a consortium of financial buyers in 2017 for 330M USD.
  • Straive was sold to a consortium of financial buyers in 2021.

M&A Deal Summary

Date 2006-01-01
Target Straive
Sector Information Technology
Buyer(s) PLDT
Sellers(s) TH Lee Putnam Ventures
Five Elms Capital
Deal Type Add-on Acquisition
Deal Value 159M USD

Target

Straive

Parañaque City, Philippines
website
Straive provides a comprehensive set of specialized services and technology solutions related to the creation, enrichment, and transformation of the published content. These services span a publisher's entire value chain, from author support and content development, through copy editing and typesetting, to digitalization, database management, and data analytics. The company serves its clients in 14 languages through 12 delivery operations globally and employs more than 12,500 people. Straive was formed in 1980 and is based in Parañaque City, Philippines.

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Buyer(S) 1

Buyer

PLDT

Makati City, Philippines

website


Category Company
Founded 1928
Sector Communications
Employees18,721
Revenue 181.0B PHP (2020)
DESCRIPTION

PLDT is the leading telecommunications service provider in the Philippines. Through its principal business groups – fixed line, wireless and others – PLDT offers a wide range of telecommunications services across the Philippines’ most extensive fiber optic backbone and fixed line and cellular networks. PLDT was founded in 1928 and is based in Makati City, the Philippines.


DEAL STATS #
Overall 1 of 2
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 2
Country (Philippines) 1 of 2
Year (2006) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-07 PhilCom

Makati City, Philippines

PhilCom Corp. provides basic telephone and public calling office products.

Buy -

Seller(S) 2

SELLER

TH Lee Putnam Ventures

New York, New York, United States

website


Category Growth Capital Firm
Founded 1999
PE ASSETS 1.1B USD
Size Large
Type Sector Focused
DESCRIPTION

TH Lee Putnam Ventures (THLPV) is a technology-focused private equity firm affiliated with Thomas H. Lee Partners and Putnam Investments. THLPV's primary focus is on later-stage venture investments, but the firm will also consider public entities, middle market buyouts, recapitalizations and spinouts of corporate divisions. A typical investment is between $20 and $50 million. TH Lee Putnam Ventures was formed in 1999 and is based in New York City.


DEAL STATS #
Overall 2 of 9
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 6
Country (Philippines) 1 of 1
Year (2006) 1 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-25 Liquidnet

New York City, New York, United States

Liquidnet is an electronic platform that allows money management firms to execute block trades directly and anonymously across international markets. Liquidnet was founded in 1999 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-08 Asurion

Nashville, Tennessee, United States

Asurion provides insurance tech support for smartphones, tablets, consumer electronics, appliances, satellite receivers and jewelry. Asurion was founded in 1994 and is based in Nashville, Tennessee.

Sell -
SELLER

Five Elms Capital

Kansas City, Missouri, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 2006
PE ASSETS 700M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Five Elms Capital is a private investment firm focused on investing $5 to $75 million in bootstrapped business services companies with $2 to $20 million in rev enue. The Firm will consider providing growth capital or to support shareholder liquidity needs. Five Elms Capital was formed in 2007 and is based in Kansas City, Missouri.


DEAL STATS #
Overall 1 of 15
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 12
Country (Philippines) 1 of 1
Year (2006) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-10 Straive

Parañaque City, Philippines

Straive provides a comprehensive set of specialized services and technology solutions related to the creation, enrichment, and transformation of the published content. These services span a publisher's entire value chain, from author support and content development, through copy editing and typesetting, to digitalization, database management, and data analytics. The company serves its clients in 14 languages through 12 delivery operations globally and employs more than 12,500 people. Straive was formed in 1980 and is based in Parañaque City, Philippines.

Buy $90M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 SelectQuote

Overland Park, Kansas, United States

SelectQuote is a term life insurance sales company in the United States. It offers auto and home insurance.

Buy -