M&A Deal Summary

Siris Capital Group and Capital Southwest Acquire PGI

On December 8, 2015, private equity firm Siris Capital Group and business development company Capital Southwest acquired software company PGI for 1.0B USD

Acquisition Highlights
  • This is Siris Capital Group’s 3rd and Capital Southwest’s 2nd transaction in the Software sector.
  • This is Siris Capital Group’s 7th and Capital Southwest’s largest (disclosed) transaction.
  • This is Siris Capital Group’s 7th and Capital Southwest’s 14th transaction in the United States.
  • This is Siris Capital Group’s 1st and Capital Southwest’s 2nd transaction in Georgia.

M&A Deal Summary
Date 2015-12-08
Target PGI
Sector Software
Buyer(s) Siris Capital Group
Capital Southwest
Deal Type Going Private
Deal Value 1.0B USD
Advisor(s) Allen & Company (Financial)
Alston & Bird (Legal)

Target

PGI

Alpharetta, Georgia, United States
PGI is a provider of audio conferencing solutions and SaaS-based web and video collaboration solutions to large global companies, mid-sized companies, and SMBs. PGi has a broad suite of conferencing and collaboration solutions that enable business users to easily connect, collaborate, and share ideas and information in real-time using traditional phones, desktops, video systems, laptops, tablets, smartphones, and other mobile devices. PGI was founded in 1991 and is based in Alpharetta, Georgia.

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Buyer(S) 2

Buyer

Siris Capital Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 2.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Siris Capital Group is a private equity firm focused on control investments in technology, telecommunications, and healthcare companies. Siris looks to acquire large companies valued from $250 million to $2 billion. The Firm was spun out of hedge fund SAC Capital Advisors in 2011. Siris Capital Group is based in New York City.

DEAL STATS #
Overall 7 of 20
Sector (Software) 3 of 3
Type (Going Private) 5 of 10
State (Georgia) 1 of 1
Country (United States) 7 of 18
Year (2015) 1 of 1
Size (of disclosed) 7 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 Airvana

Chelmsford, Massachusetts, United States

Airvana LP is a provider of 4G LTE and 3G small cell solutions that enable people to access communications, information and entertainment in the most challenging and high-value environments—offices, public venues and homes.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-23 Xura

Wakefield, Massachusetts, United States

Xura is a provider of IT solutions to global communications across a variety of mobile devices and platforms. The company helps communication service providers (CSPs) and enterprises navigate and monetize the digital ecosystem to create innovative, new experiences through our cloud-based offerings. Xura was founded in 1997 and is based in Wakefield, Massachusetts.

Buy $643M
Buyer

Capital Southwest

Investor Investor Investor Investor Investor

Category Business Development Company
Founded 1961
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Capital Southwest Corp. is a credit focused business development company focused on providing financing to profitable, mid-sized companies throughout the US. The Firm doesn't have any sector preferences and will consider a variety of investment structures. Capital Southwest Corp. was originally established in 1961 and is headquartered in Dallas, Texas.

DEAL STATS #
Overall 14 of 48
Sector (Software) 2 of 5
Type (Going Private) 2 of 2
State (Georgia) 2 of 3
Country (United States) 14 of 47
Year (2015) 4 of 4
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 CSW Industrials

Dallas, Texas, United States

CSW Industrials is a diversified industrial growth company with a portfolio of industry-leading businesses in three segments: Industrial Products; Coatings, Sealants & Adhesives; and Specialty Chemicals. CSW Industrials was founded in 2014 and is based in Dallas, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-12 BOXX Technologies

Austin, Texas, United States

BOXX Technologies is a provider of high-performance workstations and rendering systems for visual effects, animation, product design, engineering, architectural visualization, and more. Combining record-setting performance, speed, and reliability with unparalleled industry knowledge. BOXX Technologies was founded in 1996 and is based in Austin, Texas.

Sell -
Mergr

Product

Company

Legal