M&A Deal Summary

Bankrate Acquires NetQuote

On July 5, 2010, Bankrate acquired internet software and services company NetQuote from Stripes and Spectrum Equity for 205M USD

Acquisition Highlights
  • This is Bankrate’s 1st transaction in the Internet Software and Services sector.
  • This is Bankrate’s largest (disclosed) transaction.
  • This is Bankrate’s 2nd transaction in the United States.
  • This is Bankrate’s 1st transaction in Colorado.

M&A Deal Summary
Date 2010-07-05
Target NetQuote
Sector Internet Software and Services
Buyer(s) Bankrate
Sellers(s) Stripes
Spectrum Equity
Deal Type Add-on Acquisition
Deal Value 205M USD

Target

NetQuote

Denver, Colorado, United States
NetQuote, Inc. is a provider of consumers with a free, simple, and effective way to fulfill their insurance shopping needs. NetQuote works with hundreds of partner companies that provide insurance quotes based on information that you supply.

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Buyer(S) 1

Buyer

Bankrate

New York, New York, United States
Category Company
Founded 1976
Sector Information Services
Employees552
Revenue 371M USD (2015)
DESCRIPTION

Bankrate is an online publisher, aggregator, and distributor of personal finance content. The Company's vision is to help consumers Maximize Your Money when they borrow, save or invest. With this in mind, RATE aggregates large scale audiences of in-market consumers by providing them with proprietary, fully researched, comprehensive, independent and objective personal finance and related editorial content across multiple vertical categories including credit cards, mortgages, deposits, senior care and other categories, such as personal and auto loans retirement, and taxes. RATE's flagship sites CreditCards.com, Bankrate.com, and Caring.com are leading destinations in each of their respective verticals and connect their vast audiences with financial service and senior care providers and other contextually relevant advertisers. RATE also owns and operates a number of specialist sites, apps and social platforms, including NextAdvisor.com, The Points Guy, Interest.com, Quizzle.com and Walla.by. Bankrate also develops and provides content, tools, web services and co-branded websites to over 100 online partners, including Yahoo!, CNBC and MarketWatch. In addition, Bankrate licenses editorial content to leading news organizations such as The Wall Street Journal and The New York Times. Bankrate was founded in 1976 and is based in New York.

DEAL STATS #
Overall 2 of 11
Sector (Internet Software and Services) 1 of 6
Type (Add-on Acquisition) 2 of 10
State (Colorado) 1 of 1
Country (United States) 2 of 11
Year (2010) 1 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-01 Savingforcollege.com

Pittsford, New York, United States

Savingforcollege.com was established as a private company in 1999 with a mission to help individuals and professional advisors better understand how to meet the challenge of paying higher education costs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-06 Creditcards.Com

Austin, Texas, United States

Creditcards.Com, Inc. is a Internet lead generation and marketing organization that operates a top-ranked website where consumers can search for, compare and apply for credit cards

Buy -

Seller(S) 2

SELLER

Stripes

New York, New York, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2008
PE ASSETS 7.3B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Stripes is a private investment firm focused primarily on making minority investments in rapidly growing, private companies. Stripes look to commit $10 to $150 million of equity capital per transaction to support acquisitions, growth equity needs, and provide shareholder liquidity. Target companies generally have high margins and operate in large markets. Sectors of interest include branded consumer products, financial services, medical devices, and technology. Stripes is formed in 2008 and is based in New York City.

DEAL STATS #
Overall 2 of 19
Sector (Internet Software and Services) 1 of 6
Type (Add-on Acquisition) 2 of 10
State (Colorado) 2 of 3
Country (United States) 2 of 19
Year (2010) 1 of 1
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-25 Sandata

Hicksville, New York, United States

Sandata is a provider of information technology solutions and services, which include scheduling, time and attendance, billing, payroll, compliance, and clinical applications, for the home healthcare industry. Sandata was founded in 1978 and is based in Hicksville, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-20 Turtle Beach

White Plains, New York, United States

Turtle Beach is an entity which has been transforming console multiplayer gaming since the very beginning with its wide selection of industry- major, award-winning gaming headsets. Whether you’re a professional esports athlete, hardcore gamer, casual player, or just starting out, Turtle Beach has the gaming headset to help you truly master your skills. Innovative and advanced technology, amazing high-quality gaming audio, clear communication, lightweight and comfortable designs, and ease-of-use are just a few features that have made Turtle Beach a fan-favorite brand for gamers the world over. Made for Xbox, PlayStation®, and Nintendo consoles as well as for PC, Mac®, and mobile/tablet devices, having a Turtle Beach gaming headset in your arsenal gives you the competitive advantage. Turtle Beach was founded in 1975 and is based in White Plains, New York.

Buy -
SELLER

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.

DEAL STATS #
Overall 22 of 76
Sector (Internet Software and Services) 1 of 18
Type (Add-on Acquisition) 14 of 45
State (Colorado) 2 of 2
Country (United States) 21 of 67
Year (2010) 2 of 3
Size (of disclosed) 25 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-01 iPay Technologies

Elizabethtown, Kentucky, United States

iPay Technologies LLC, provides online bill payment solutions and unmatched service to more banks and credit unions than any other bill payment provider.

Sell $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-26 Sidera Networks

New York, New York, United States

Sidera Networks, Inc. is a provider of tailored, high capacity communications services that ensure optimal business performance to carrier and enterprise customers. Sidera Networks offers a comprehensive suite of facilities-based services including: Ethernet, SONET, wavelength, internet access, colocation and more. With a fiber optic network leveraging unique rights-of-way that spans from Maine to Virginia, out to Chicago and up to Toronto, Sidera is committed to delivering cost-effective, custom solutions coupled with superior industry expertise, service and support.

Buy -
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