M&A Deal Summary

Francisco Partners and BCI Acquire VeriFone

On April 9, 2018, private equity firm Francisco Partners and asset manager BCI acquired information technology company VeriFone for 3.4B USD

Acquisition Highlights
  • This is Francisco Partners’ 22nd and BCI’s 1st transaction in the Information Technology sector.
  • This is Francisco Partners’ 4th and BCI’s 3rd largest (disclosed) transaction.
  • This is Francisco Partners’ 80th and BCI’s 2nd transaction in the United States.
  • This is Francisco Partners’ 7th and BCI’s 1st transaction in New York.

M&A Deal Summary

Date 2018-04-09
Target VeriFone
Sector Information Technology
Buyer(s) Francisco Partners
BCI
Deal Type Going Private
Deal Value 3.4B USD
Advisor(s) Qatalyst Partners (Financial)
Sullivan & Cromwell (Legal)

Target

VeriFone

New York, New York, United States
Entrance to VeriFone's corporate headquarters in San Jose, California.
Entrance to VeriFone's corporate headquarters in San Jose, California.
VeriFone is a provider of secure electronic payment technologies. VeriFone provides solutions, services, and expertise that enable electronic payments. The Company's products and services include mobile, countertop and self-service payment devices, software, and web-based gateways. VeriFone was founded in 1981 and is headquartered in New York, New York.

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Buyer(S) 2

Buyer

Francisco Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 45.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Francisco Partners' headquarters in San Francisco, California.
Francisco Partners' headquarters in San Francisco, California.

Francisco Partners is a private equity firm focused exclusively on investments in technology and technology-enabled services. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Prospective investment situations include divisional buyouts, growth equity financings, acquisitions of private companies, sponsored mergers and acquisitions, and take-privates. Francisco Partners looks for opportunities where it can commit a minimum of $100 million per investment. Francisco Partners was formed in 1999 and is based in San Francisco, California.


DEAL STATS #
Overall 96 of 160
Sector: Information Technology M&A 22 of 30
Type: Going Private M&A Deals 12 of 17
State: New York M&A 7 of 14
Country: United States M&A 80 of 134
Year: 2018 M&A 5 of 9
Size (of disclosed) 4 of 31
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-03 BeyondTrust

Johns Creek, Georgia, United States

BeyondTrust is a provider of secure access solutions. BeyondTrust enables customers to quickly access and protect endpoints, defend privileged credentials, and support technology end-users to help businesses fight cyber threats while speeding performance. BeyondTrust was founded in 2003 and is based in Johns Creek, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-03 Renaissance

Wisconsin Rapids, Wisconsin, United States

Renaissance is a provider of technology-based school improvement and student assessment programs for pre-kindergarten through to senior high (pre-K-12, aged 5-18) schools and districts. The company's products and services, adopted by more than 70,000 schools, are primarily focused on two curriculum areas: reading and mathematics. Renaissance was founded in 1986 and is based in Wisconsin Rapids, Wisconsin.

Buy -
Buyer

BCI

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1999
PE ASSETS 21.1B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.


DEAL STATS #
Overall 6 of 32
Sector: Information Technology M&A 1 of 2
Type: Going Private M&A Deals 2 of 5
State: New York M&A 1 of 1
Country: United States M&A 2 of 15
Year: 2018 M&A 1 of 5
Size (of disclosed) 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-25 Refresco Gerber

Rotterdam, Netherlands

Refresco Gerber is a soft-drink company provides fruit juice and soft drinks for retail private labels and ‘in contract’ manufacturing for international A-brands. Refresco Gerber was founded in 1999 and is based in Rotterdam, Netherlands.

Buy €2M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-24 Springs Window Fashions

Middleton, Wisconsin, United States

Springs Window Fashions is a manufacturer and marketer of custom and stock window coverings and drapery hardware to retail and commercial customers, as well as independent designers, franchisors, and decorators. Springs Window Fashions was founded in 1939 and is based in Middleton, Wisconsin.

Buy -