M&A Deal Summary

Micros Systems Acquires Torex Retail Holdings

On April 26, 2012, Micros Systems acquired software company Torex Retail Holdings from General Atlantic and Cerberus Capital Management for 115M USD

Acquisition Highlights
  • This is Micros Systems’ 2nd transaction in the Software sector.
  • This is Micros Systems’ largest (disclosed) transaction.
  • This is Micros Systems’ 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2012-04-26
Target Torex Retail Holdings
Sector Software
Buyer(s) Micros Systems
Sellers(s) General Atlantic
Cerberus Capital Management
Deal Type Add-on Acquisition
Deal Value 115M USD

Target

Torex Retail Holdings

Dunstable, United Kingdom
Torex provides software, hardware and services that power many of the retailing operations including Tesco, Selfridges and Argos among a client list that features over 6000 customers.

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Buyer(S) 1

Buyer

Micros Systems

Columbia, Maryland, United States
Category Company
Founded 1977
Sector Technology Hardware
Employees6,506
Revenue 1.4B USD (2014)
DESCRIPTION

MICROS Systems, Inc. is a manufacturer and sells computer hardware, software, and services for the restaurant point of sale, hotel, hospitality, specialty retail markets and other similar markets.

DEAL STATS #
Overall 8 of 8
Sector (Software) 2 of 2
Type (Add-on Acquisition) 8 of 8
Country (United Kingdom) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-06 TIG Global

Washington, District of Columbia, United States

TIG Global is an interactive marketing company for the hospitality and travel industries worldwide. TIG Global is headquartered in the Washington, DC metro area, and serves the online needs of a diverse portfolio of clients located around the world.

Buy -

Seller(S) 2

SELLER

General Atlantic

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1980
PE ASSETS 73.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 49 of 146
Sector (Software) 6 of 9
Type (Add-on Acquisition) 19 of 44
Country (United Kingdom) 5 of 10
Year (2012) 2 of 6
Size (of disclosed) 31 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-23 Sura Asset Management

Medellín, Colombia

Sura Asset Management is a pension and wealth management firm in Latin America with operations in Mexico, Peru, Chile, Colombia, Uruguay, and El Salvador. Sura Asset Management was founded in 2011 and is based in Medellin, Colombia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-27 Decolar

Sao Paulo, Brazil

Decolar is an online travel agency in Brazil and across Latin America. The company, through its branded websites Despegar.com (in greater Latin America) and Decolar.com (in Brazil), provides online airline and hotel booking services to leisure and unmanaged business travelers in Latin America. Decolar was founded in 2000 and is based in Sao Paulo, Brazil.

Buy -
SELLER

Cerberus Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1992
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.

DEAL STATS #
Overall 17 of 54
Sector (Software) 1 of 2
Type (Add-on Acquisition) 7 of 27
Country (United Kingdom) 3 of 6
Year (2012) 4 of 6
Size (of disclosed) 10 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-11 Guilford Performance Textiles

Wilmington, North Carolina, United States

Guilford Mills designs, develops, and manufactures fabrics and engineered products. The company offers automotive body cloth products and textiles for overhead systems, technical textiles and specialty fibers in North America and Europe.

Sell $257M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-09 YP The Real Yellow Pages

Atlanta, Georgia, United States

YP, The Real Yellow Pages is a local marketing solutions provider in the US dedicated to helping local businesses and communities grow. YP’s flagship consumer brands include the popular YP® app and yp.com, which are used by nearly 60 million consumers each month in the U.S. and The Real Yellow Pages® directory.

Buy -
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