M&A Deal Summary

Banneker Partners, Permira, TCV and Hellman & Friedman Acquire Genesys

On February 1, 2012, private equity firms Banneker Partners, Permira, TCV and Hellman & Friedman acquired software company Genesys from Alcatel-Lucent S.A. for 1.2B EUR

Acquisition Highlights
  • This is Banneker Partners’ 2nd, Permira’s 3rd, TCV’s 17th and Hellman & Friedman’s 9th transaction in the Software sector.
  • This is Banneker Partners’ 2nd, Permira’s 29th, TCV’s 4th and Hellman & Friedman’s 23rd largest (disclosed) transaction.
  • This is Banneker Partners’ 2nd, Permira’s 6th, TCV’s 50th and Hellman & Friedman’s 37th transaction in the United States.
  • This is Banneker Partners’ 1st, Permira’s 2nd, TCV’s 16th and Hellman & Friedman’s 7th transaction in California.

M&A Deal Summary
Date 2012-02-01
Target Genesys
Sector Software
Buyer(s) Banneker Partners
Permira
TCV
Hellman & Friedman
Sellers(s) Alcatel-Lucent S.A.
Deal Type Divestiture
Deal Value 1.2B EUR
Advisor(s) Ernst & Young Capital Advisors LLC (Financial)

Target

Genesys

Menlo Park, California, United States
Genesys is a provider of customer engagement software to large enterprises around the globe. The Company empowers its customers to create omni-channel customer experiences, journeys, and relationships. Genesys was founded in 1990 and is based in Menlo Park, California.

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Buyer(S) 4

Buyer

Banneker Partners

San Francisco, California, United States

Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Banneker Partners is a West Coast based private equity firm focused on investing in software/SaaS, internet, and business services companies. Banneker looks to partner with management when making acquisitions. Firm principals have experience investing in high growth as well as mature/legacy businesses. Banneker Partners was formed in 2010 and is based in San Francisco.

DEAL STATS #
Overall 2 of 19
Sector (Software) 2 of 12
Type (Divestiture) 2 of 4
State (California) 1 of 6
Country (United States) 2 of 16
Year (2012) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-02 iGrafx

Tualatin, Oregon, United States

iGrafx provides comprehensive Business Process Analysis solution that helps organizations model, improve, and manage processes and technologies that support, simplify, and automate their operations. iGrafx was founded in 1991 and is based in Tualatin, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-04 IQMS.com

Paso Robles, California, United States

IQMS.com is a provider of manufacturing software and ERP software systems for repetitive, process and discrete manufacturing industries. IQMS.com was founded in 1989 and is based in Paso Robles, California.

Buy -
Buyer

Permira

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 75.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.

DEAL STATS #
Overall 75 of 159
Sector (Software) 3 of 9
Type (Divestiture) 9 of 18
State (California) 2 of 15
Country (United States) 6 of 44
Year (2012) 1 of 6
Size (of disclosed) 29 of 61
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-21 Netafim

Tel Aviv, Israel

Netafim Ltd. is a provider of smart drip and micro irrigation solutions for sustainable agriculture and other applications for over 100 countries and holds c.30% share of the global market.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-13 Kiekert AG

Heiligenhaus, Germany

the Kiekert Group is a supplier of locking systems to the automotive industry.

Sell -
Buyer

TCV

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 21.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Technology Crossover Ventures (TCV) is a private equity and venture capital firm focused on investments in growth technology companies. TCV looks to provide capital for growth, recapitalizations, acquisitions, and buyouts of technology companies in sectors such as internet, financial technology, infrastructure & communications, and software. TCV targets opportunities in North America and looks to commit between $10 and $500 million of equity capital per transaction. TCV was formed in 1995 and is based in Palo Alto, New York City, and London.

DEAL STATS #
Overall 57 of 82
Sector (Software) 17 of 23
Type (Divestiture) 2 of 2
State (California) 16 of 21
Country (United States) 50 of 70
Year (2012) 2 of 3
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-01 iPipeline

Exton, Pennsylvania, United States

iPipeline is a provider of cloud-based software solutions for the life insurance and financial services industries. Through its SSG Digital, end-to-end platform, iPipeline accelerates and simplifies sales, compliance, operations, and support. iPipeline provides process automation and seamless integration between every participant in its ecosystem including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and consumers on a global basis.

Buy $71M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-22 ExactTarget

Indianapolis, Indiana, United States

ExactTarget, Inc. is a provider of on-demand email marketing software solutions. The company’s suite of on-demand one-to-one marketing applications enable clients to send business-critical and event triggered communications to increase sales, optimize marketing investments and strengthen customer relationships.

Sell -
Buyer

Hellman & Friedman

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Hellman & Friedman (H&F) is a large private equity firm on the West Coast of the US. H&F focuses on control and minority investments in a variety of transaction structures and will consider opportunities across the US and Europe. H&F seeks buyouts and business in need of restructurings that operate in defensible markets with predictable revenue and earnings growth. Target sectors include financial services, healthcare, indusrial, energy, insurance, media, marketing, professional services, software, and information services. H&F's target equity investment size is $300 million to $1 billion. Hellman & Friedman was formed in 1984 and has offices in San Francisco, New York City, and London.

DEAL STATS #
Overall 52 of 88
Sector (Software) 9 of 12
Type (Divestiture) 4 of 6
State (California) 7 of 11
Country (United States) 37 of 61
Year (2012) 2 of 3
Size (of disclosed) 23 of 39
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-23 Datatel

Fairfax, Virginia, United States

Datatel has focused exclusively on helping colleges and universities manage their business processes. Datatel today provides fully integrated enterprise information management software solutions to more than 600 colleges, universities and other higher education institutions serving almost 4 million students

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-25 AlixPartners

New York, New York, United States

AlixPartners is a performance improvement, corporate turnaround and financial advisory services firm. The AlixPartners' 'one-stop-shop' suite of services range from financial restructuring and operational performance improvement across all major corporate disciplines (manufacturing, supply chain, IT, sales & marketing, working capital, etc.), to financial advisory services (including financial reporting, corporate governance and investigations) to technology-enabled restructuring and claims management. AlixPartners was founded in 1981 and is based in New York.

Sell -

Seller(S) 1

SELLER

Alcatel-Lucent S.A.

Boulogne-Billancourt, France
Category Company
Founded 1898
Sector Technology Hardware
Employees52,673
Revenue 15.9B USD (2014)
DESCRIPTION
Alcatel-Lucent office in Highlands Ranch, Colorado.
Alcatel-Lucent office in Highlands Ranch, Colorado.

Alcatel-Lucent S.A. is an integrated provider of voice, data and video communication services to end-users. Alcatel-Lucent offers fixed, mobile and converged broadband networking, IP technologies, applications and services to a variety of end users. Alcatel-Lucent S.A. was originally established in 1898 and is headquartered in Boulogne-Billancourt, France.

DEAL STATS #
Overall 3 of 4
Sector (Software) 1 of 1
Type (Divestiture) 3 of 4
State (California) 1 of 1
Country (United States) 1 of 2
Year (2012) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-01 Open-Plug SA

Sophia Antipolis, France

Open-Plug SA is a mobile software and applications development tools vendor.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-10 Capella Intelligent Subsystems

San Jose, California, United States

Capella Intelligent Subsystems, Inc. is a vendor of WSS subsystems for reconfigurable optical add/drop multiplexers (ROADMs) in the optical communications market.

Buy -
Mergr

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