M&A Deal Summary

Silver Lake and Sumeru Equity Partners Acquire Smart Modular Technologies

On April 26, 2011, private equity firms Silver Lake and Sumeru Equity Partners acquired technology hardware company Smart Modular Technologies for 645M USD

Acquisition Highlights
  • This is Silver Lake’s 3rd and Sumeru Equity Partners’ 1st transaction in the Technology Hardware sector.
  • This is Silver Lake’s 26th and Sumeru Equity Partners’ largest (disclosed) transaction.
  • This is Silver Lake’s 31st and Sumeru Equity Partners’ 3rd transaction in the United States.
  • This is Silver Lake’s 10th and Sumeru Equity Partners’ 1st transaction in California.
Investment Fate
  • Smart Modular Technologies went public in 2017.

M&A Deal Summary

Date 2011-04-26
Target Smart Modular Technologies
Sector Technology Hardware
Buyer(s) Silver Lake
Sumeru Equity Partners
Deal Type Going Private
Deal Value 645M USD
Advisor(s) Barclays Investment Bank (Financial)
Kaye Scholer LLP
Davis Polk & Wardwell (Legal)

Target

Smart Modular Technologies

Newark, California, United States
website
Smart Modular Technologies is a developer and manufacturer of DRAM and Flash-based modules and subsystems for computing, communications, embedded, and defense applications. Smart Modular Technologies was founded in 1988 and is based in Newark, California.

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Buyer(S) 2

Buyer

Silver Lake

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 102.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.


DEAL STATS #
Overall 44 of 126
Sector (Technology Hardware) 3 of 6
Type (Going Private) 9 of 16
State (California) 10 of 36
Country (United States) 31 of 86
Year (2011) 2 of 8
Size (of disclosed) 26 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-11 Terremark Worldwide

Miami, Florida, United States

Terremark Worldwide, Inc. provides managed information technology (IT) solutions with data centers.

Sell $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-10 Skype

Luxembourg, Luxembourg

Skype provides internet based communication tools and software for individuals and businesses. Skype was formed in 2003.

Sell $8.5B
DESCRIPTION

Sumeru Equity Partners, Inc. is a technology-focused private equity firm that makes investments in mid-market software, technology enabled services, and hardware companies with a focus on growth. Sumeru Equity Partners typically invests between $25 and $200 million in companies with revenues greater than $10 million. Sumeru Equity Partners was formed in 2014 and is based in Foster City, California.


DEAL STATS #
Overall 4 of 21
Sector (Technology Hardware) 1 of 2
Type (Going Private) 2 of 3
State (California) 1 of 6
Country (United States) 3 of 14
Year (2011) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-20 Locaweb

Sao Paulo, Brazil

Locaweb is a provider of Webhosting and cloud computing services to small/medium businesses. Locaweb was founded in 1998 and is based in Sao Paulo, Brazil.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-12 Velocity Technology Solutions

Charlotte, North Carolina, United States

Velocity Technology Solutions, Inc. is a provider of enterprise software hosting and systems integration services to mid-market businesses and government entities. Velocity Technology Solutions was founded in 2003 and is based in Charlotte, North Carolina.

Buy -