Providence Equity Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Providence Equity Partners has acquired 3 companies. It has also invested in 19 others.

Providence Equity Partners’ most common sectors for investment are media (24%) and software (17%). The Firm’s most common investment types include growth capital (27%) and secondary buyout (20%). In total, Providence Equity Partners has invested in 25 US states and 22 different countries. Its largest (disclosed) acquisition occurred in 2005 when it acquired TDC A/S for $15.8B.

In the last 3 years, Providence Equity Partners has exited 15 companies. The Firm’s most common exit type is trade sale (42%). Providence Equity Partners’ largest (disclosed) exit occurred in 2015 when it sold SunGard Data Systems for $9.1B.

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M&A Summary

  • M&A Total Activity208
    • M&A Buy Activity135
    • M&A Sell Activity73
  • Total Sectors Invested 16
  • Total Countries Invested 22
  • M&A Buy/Sell Connections 120
  • M&A Advisors 28

Providence Equity Partners

50 Kennedy Plaza, 18th Floor,
Providence, Rhode Island 02903
United States
(401) 751-1700
www.provequity.com
contact@provequity.com

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


Investment Criteria

Sectors of Interest: Business Services, Communications, Consumer Products, Consumer Services, Digital Media, Distribution, E-Commerce, Education, Healthcare Services, Information Technology, Internet Software and Services, Leisure, Marketing, Media, Publishing, Retail, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Recapitalization, Special Situations/Distressed

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia, Asia/Pacific, Latin/South America

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 150 800
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (8.4/yr) # 93 9 9 9 13 2 135
vol $80.7B $91M $129M $80.9B
Sell (4.2/yr) # 52 4 3 4 7 3 73
vol $60.5B $675M $3.6B $588M $65.4B
  208

Most Recent M&A

Company Date Value Type
Assembly 2020-05-19 - Growth Capital
Irvine, California · www.withassembly.com
Next Glass, Inc. 2020-04-23 - Growth Capital
Wilmington, North Carolina · www.nextglass.co
Galileo Global Education 2020-03-06 - Secondary Buyout
Paris, France · www.ggeedu.com
Univision Communications, Inc. 2020-02-25 - Secondary Buyout
New York, New York · www.univision.com
RentPath, Inc. 2020-02-11 588M USD Special Situations/Distressed
Norcross, Georgia · www.rentpath.com
Smartly.io 2019-12-18 - Growth Capital
Helsinki, Finland · www.smartly.io
SnapApp, Inc. 2019-12-03 - Add-on Acquisition
Newton, Massachusetts · www.snapapp.com
Net Reviews 2019-11-12 - Growth Capital
Marseille, France · www.avis-verifies.com
Burning Glass Technologies, Inc. 2019-09-11 - Secondary Buyout
Boston, Massachusetts · www.burning-glass.com
MAPAL Software 2019-09-09 - Growth Capital
Madrid, Spain · www.mapalsoftware.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Imaweb 2000, S.L. 2019-05-01 Serinfer Servicios Informáticos S.L. 2020-07-03 1
Madrid, Spain · www.imaweb.es Vigo, Spain · www.serinfer.com
KPA LLC 2018-08-08 Multimedia Training Systems, Inc. 2020-04-06 2
Lafayette, Colorado · www.kpaonline.com Pittsburgh, Pennsylvania · www.mtssafety.com
Blackboard, Inc. 2011-10-04 Blackboard, Inc. - Open LMS Business 2020-03-10 2
Washington, District of Columbia · www.blackboard.com , District of Columbia
DoubleVerify, Inc. 2017-08-23 Ad-Juster, Inc. 2019-11-07 3
New York, New York · www.doubleverify.com San Diego, California · www.ad-juster.com
I'Car Systems 2019-07-10 DATAFIRST 2019-07-10 1
Indre-et-loire, France · www.icarsystems.fr Lyon, France · www.datacar.com
Blackboard, Inc. 2011-10-04 Blackboard, Inc. - Transact Business Unit 2019-03-07 1
Washington, District of Columbia · www.blackboard.com Phoenix, Arizona
DoubleVerify, Inc. 2017-08-23 Zentrick NV 2019-02-20 2
New York, New York · www.doubleverify.com Merelbeke, Belgium · www.zentrick.com
Tes Global Ltd. 2018-12-17 Times Higher Education 2019-02-01 1
London, United Kingdom · www.tes.com London, United Kingdom · www.timeshighereducation.com
KPA LLC 2018-08-08 Compli 2019-01-15 1
Lafayette, Colorado · www.kpaonline.com Portland, Oregon · www.compli.com
DoubleVerify, Inc. 2017-08-23 Leiki Ltd. 2019-01-14 1
New York, New York · www.doubleverify.com Helsinki, Finland · www.leiki.com

M&A by Sector

Sector Current # Value All-time # Value
Media 13 (20%) 1.6B (25%) 32 (24%) 27.3B (33%)
Software 17 (26%) 1.6B (26%) 22 (16%) 14.3B (17%)
Communications 2 (3%) - 16 (12%) 21.0B (25%)
Information Technology 9 (14%) 2.7B (43%) 15 (11%) 3.8B (5%)
Internet Software and Services 9 (14%) - 15 (11%) -
Education 6 (9%) - 11 (8%) 3.9B (5%)
Consumer Services 2 (3%) 354M (6%) 5 (4%) 354M (< 1%)
Business Services - - 4 (3%) 1.5B (2%)
Digital Media 2 (3%) - 4 (3%) 525M (1%)
Marketing 3 (5%) - 4 (3%) -
Publishing - - 2 (1%) 3.1B (4%)
Transportation 1 (2%) - 2 (1%) -
E-Commerce - - 1 (1%) 7.3B (9%)
Retail - - 1 (1%) 173M (< 1%)
Healthcare Services - - 1 (1%) -
Leisure 1 (2%) - 1 (1%) -
Total 65 $6.3B 136 $83.3B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 40 (62%) 4.4B (69%) 88 (65%) 55.8B (67%)
  California 7 (11%) 830M (13%) 13 (10%) 6.5B (8%)
  New York 3 (5%) - 10 (7%) 17.7B (21%)
  Massachusetts 3 (5%) - 9 (7%) -
  Virginia 3 (5%) 1.9B (30%) 6 (4%) 3.4B (4%)
  Pennsylvania 3 (5%) - 5 (4%) 14.8B (18%)
  Texas 3 (5%) - 4 (3%) -
  Colorado 3 (5%) - 4 (3%) -
  Georgia 2 (3%) - 4 (3%) 525M (1%)
  Tennessee 2 (3%) - 4 (3%) -
  Illinois 1 (2%) - 4 (3%) 7.3B (9%)
  Florida 1 (2%) - 3 (2%) -
  Arizona 1 (2%) - 3 (2%) -
  Missouri - - 3 (2%) 1.0B (1%)
  North Carolina 2 (3%) - 2 (1%) -
  Ohio 1 (2%) - 2 (1%) -
  Connecticut - - 2 (1%) 1.3B (2%)
  Washington - - 2 (1%) -
  District of Columbia 1 (2%) 1.6B (26%) 1 (1%) 1.6B (2%)
  Nevada 1 (2%) - 1 (1%) -
  Maryland 1 (2%) - 1 (1%) -
  Alabama 1 (2%) - 1 (1%) -
  New Jersey - - 1 (1%) 1.4B (2%)
  Minnesota - - 1 (1%) 294M (< 1%)
  Oregon - - 1 (1%) -
United Kingdom 5 (8%) 926M (15%) 7 (5%) 1.2B (1%)
France 5 (8%) 732M (12%) 5 (4%) 732M (1%)
Spain 3 (5%) - 5 (4%) 3.5B (4%)
Netherlands 1 (2%) - 5 (4%) 3.1B (4%)
India 4 (6%) 58M (1%) 4 (3%) 58M (< 1%)
Sweden 1 (2%) 129M (2%) 3 (2%) 1.5B (2%)
Canada - - 3 (2%) 981M (1%)
  Alberta - - 2 (1%) 145M (< 1%)
  Ontario - - 1 (1%) 836M (1%)
Finland 2 (3%) - 2 (1%) -
Germany - - 2 (1%) -
Estonia 1 (2%) 91M (1%) 1 (1%) 91M (< 1%)
China 1 (2%) - 1 (1%) -
Hungary 1 (2%) - 1 (1%) -
Ukraine 1 (2%) - 1 (1%) -
Denmark - - 1 (1%) 15.8B (19%)
Australia - - 1 (1%) 470M (1%)
Belgium - - 1 (1%) -
Brazil - - 1 (1%) -
Indonesia - - 1 (1%) -
Ireland - - 1 (1%) -
Switzerland - - 1 (1%) -
Turkey - - 1 (1%) -
Domestic 40 (62%) 4.4B (69%) 88 (65%) 55.8B (67%)
Cross-border 25 (38%) 1.9B (31%) 48 (35%) 27.5B (33%)
Total 65 $6.3B 136 $83.3B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 30 (46%) - 36 (26%) -
Secondary Buyout 16 (25%) 1.2B (19%) 26 (19%) 8.0B (10%)
Buyout (LBO, MBO, MBI) 7 (11%) 830M (13%) 24 (18%) 4.5B (5%)
Stake Purchase 4 (6%) 54M (1%) 15 (11%) 1.3B (2%)
Divestiture 5 (8%) 129M (2%) 13 (10%) 6.0B (7%)
Going Private 3 (5%) 4.1B (65%) 11 (8%) 45.6B (55%)
Recapitalization - - 4 (3%) 2.1B (2%)
Venture - - 4 (3%) -
PIPE - - 2 (1%) 15.8B (19%)
Acquisition Financing - - 1 (1%) -
Total 65 $6.3B 136 $83.3B

Exits by Deal Type

Type Total # Value
Secondary Sale 22 (30%) 9.7B (15%)
Trade Sale 18 (25%) 15.1B (24%)
Trade Sale - Public Company 15 (21%) 34.9B (55%)
IPO 7 (10%) -
Bankruptcy 4 (5%) -
Merger 2 (3%) -
Sold to Management 2 (3%) -
Stake Sale 2 (3%) -
Divestiture 1 (1%) 3.5B (6%)
Total 73 $63.1B

Top M&A Advisors

Financial Deals
Goldman Sachs Investment Banking Division
6
Bank of America Merrill Lynch
4
Barclays Investment Bank
4
Legal Deals
Weil Gotshal & Manges LLP
33
Debevoise & Plimpton LLP
4
Latham & Watkins
2

Deal Values

buy # Total
> $1B 19 $77.0B
$100M to $1B 13 $6.1B
< $100M 3 $149M
TOTAL $83.3B
Largest TDC A/S
$15.8B (2005-11-01)
sell # Total
> $1B 16 $58.1B
$100M to $1B 15 $7.3B
TOTAL $65.4B
Largest SunGard Data Systems, Inc.
$9.1B (2015-08-12)

M&A Connections

Deals %
Acquired from
PE Firm(s)
76%
38 76%
Strategic(s)
24%
12 24%
Exited to
PE Firm(s)
42%
31 42%
Strategic(s)
58%
43 58%

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