M&A Deal Summary

Allegiance Capital Acquires AWS Convergence Technologies

On January 1, 2002, private equity firm Allegiance Capital acquired communications company AWS Convergence Technologies for 3M USD

Acquisition Highlights
  • This is Allegiance Capital’s 1st transaction in the Communications sector.
  • This is Allegiance Capital’s largest (disclosed) transaction.
  • This is Allegiance Capital’s 1st transaction in the United States.
  • This is Allegiance Capital’s 1st transaction in Maryland.
Investment Fate
  • AWS Convergence Technologies was sold to a financial buyer in 2004 for 23M USD.
  • AWS Convergence Technologies was sold to a financial buyer in 2008.
  • AWS Convergence Technologies merged with another company in 2009.
  • AWS Convergence Technologies merged with another company in 2010.

M&A Deal Summary
Date 2002-01-01
Target AWS Convergence Technologies
Sector Communications
Buyer(s) Allegiance Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 3M USD

Target

AWS Convergence Technologies

Germantown, Maryland, United States
AWS Convergence Technologies, Inc., which operates under the brand name Weatherbug, owns and operates the largest network of weather stations in the world. This live network gathers comprehensive, up-to-the-second weather information from more than 6,200 communities and powers the company's various products and services.

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Buyer(S) 1

Buyer

Allegiance Capital

Cockeysville, Maryland, United States
Category Private Equity Firm
Founded 1999
PE ASSETS 45M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Allegiance Capital is a private investment firm that seeks to provide later-stage growth capital to companies in the mid-Atlantic US. The firm targets investments that lie within a 150-mile radius of Baltimore, Maryland. Allegiance Capital focuses on a variety of transaction structures, including expansion-stage private financings, management buyouts, leveraged buyouts, recapitalizations, and roll-ups. In general Allegiance Capital's investments range from $1 to $3 million. Smaller investments are considered on a case-by-case basis. The firm will consider investing as a member of a larger syndicate, as either lead investor or as a participant. The majority of the firm's investments are in companies that are experiencing significant growth - either organic growth or through acquisitions. The firm does not pursue start-up opportunities and does not take an active role in day-to-day management operations. Allegiance Capital Limited Partnership is a SBIC and was formed in 1999.

DEAL STATS #
Overall 1 of 3
Sector (Communications) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 3
State (Maryland) 1 of 3
Country (United States) 1 of 3
Year (2002) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-01 Liquidity Services

Bethesda, Maryland, United States

Liquidity Services is an online auction marketplace for wholesale, surplus and salvage assets. LSI enables its corporate and government sellers to enhance their financial return on excess assets by providing a liquid marketplace and value-added services that integrate sales and marketing, logistics and transaction settlement into a single offering. Liquidity Services was founded in 1999 and is based in Bethesda, Maryland.

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