M&A Deal Summary

ActivIdentity Acquires CoreStreet

On December 14, 2009, ActivIdentity acquired technology hardware company CoreStreet from Updata Partners

Acquisition Highlights
  • This is ActivIdentity’s 1st transaction in the Technology Hardware sector.
  • This is ActivIdentity’s 1st transaction in the United States.
  • This is ActivIdentity’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2009-12-14
Target CoreStreet
Sector Technology Hardware
Buyer(s) ActivIdentity
Sellers(s) Updata Partners
Deal Type Add-on Acquisition
Advisor(s) Bluestone Capital Partners (Financial)

Target

CoreStreet

Cambridge, Massachusetts, United States
CoreStreet is the only provider of massively scalable validation products for identity management and access control. With CoreStreet's Real Time CredentialsTM organizations can control physical and logical access to buildings, computer networks, applications and devices.

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Buyer(S) 1

Buyer

ActivIdentity

Fremont, California, United States

Category Company
Founded 1987
Sector Business Services
Employees218
DESCRIPTION

ActivIdentity Corporation develops and provides authentication and credential management solutions for enterprises, government agencies, financial institutions, and service providers worldwide.


DEAL STATS #
Overall 1 of 1
Sector: Technology Hardware M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Massachusetts M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2009 M&A 1 of 1

Seller(S) 1

SELLER

Updata Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Updata Partners is the investment affiliate of Updata Advisors, an East Coast US based investment bank. Updata Partners looks to invest in growth oriented information technology businesses from early-stage to buyout, with revenues up to $50 million. Updata Partners typically invests between $15 and $150 million as a lead or co-lead investor. Within information technology, Updata has specific interest in; infrastructure software, physical and digital security, storage software, educational software, internet and interactive technology, media and wireless infrastructure and services, financial technology software, retail technology, business intelligence, subscription-based and on-demand information services, and business services. Updata Partners was formed in 1998 and is based in Washington DC.


DEAL STATS #
Overall 13 of 46
Sector: Technology Hardware M&A 1 of 1
Type: Add-on Acquisition M&A Deals 9 of 33
State: Massachusetts M&A 1 of 6
Country: United States M&A 13 of 42
Year: 2009 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-02 Netkey

East Haven, Connecticut, United States

Netkey develops, markets and supports innovative software products that allow companies to manage high volumes of self-service customer transactions and increase opportunities for multi-channel sales.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-22 Spectrum K12 School Solutions

Atlanta, Georgia, United States

Spectrum K12 School Solutions provides software and services to allow K-12 schools to manage and administer Special Education, 504, ESL, Title I and At Risk Students. The products also help schools with Medicaid Recovery.

Sell -