Going Private • Internet Software and Services

Siris Capital Group and Morgan Stanley Capital Partners Acquire Web.com

On June 21, 2018, private equity firms Siris Capital Group and Morgan Stanley Capital Partners acquired internet software and services company Web.com for 2.0B USD

Acquisition Context
  • This is Siris Capital Group’s 4th and Morgan Stanley Capital Partners’ 2nd transaction in the Internet Software and Services sector.
  • This is Siris Capital Group’s 4th and Morgan Stanley Capital Partners’ largest (disclosed) transaction.
  • This is Siris Capital Group’s 13th and Morgan Stanley Capital Partners’ 25th transaction in the United States.
  • This is Siris Capital Group’s 1st and Morgan Stanley Capital Partners’ 2nd transaction in Florida.
Investment Fate
  • Web.com merged with another company in 2021.

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M&A Deal Summary

Date June 21, 2018
Target Web.com
Sector Internet Software and Services
Buyer(s) Siris Capital Group
Morgan Stanley Capital Partners
Deal Type Going Private
Deal Value 2.0B USD
Advisor(s) BofA Securities
J.P. Morgan Securities (Financial)
Cooley (Legal)

Target Company

Web.com

Jacksonville, Florida, United States
Web.com is a provider of website-building tools, services, and internet solutions. The company offers a comprehensive suite of website design, customer support, and technology platforms tailored to the needs of the small and medium-sized businesses. Additionally,Web.com Group partners with enterprise companies to help these partners build stronger, more profitable relationships with their business customers. Web.com was formed in 1997 and is headquartered in Jacksonville, Florida.
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Buyers Overview 2

Buyer

Siris Capital Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 5.9B USD
Size Mega
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 $500 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 Context for Buyer #
Overall 13 of 21
Sector: Internet Software and Services 4 of 6
Type: Going Private 7 of 11
State: Florida 1 of 2
Country: United States 13 of 19
Year: 2018 2 of 3
Size (of disclosed) 4 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-28 Polycom

San Jose, California, United States

Polycom, Inc. is a provider in open standards-based unified communications and collaboration (UC&C) solutions for voice and video collaboration. Polycom solutions are powered by the Polycom RealPresence Platform, comprehensive software infrastructure and rich APIs that interoperate with the broadest set of communication, business, mobile and cloud applications and devices to deliver secure face-to-face video collaboration in any environment. Polycom was formed in 1990 and is based in San Jose, California.

Sell $2.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-06 IntraLinks Holdings

New York City, New York, United States

IntraLinks Holdings, Inc. is a global content collaboration company that provides cloud-based solutions to control the sharing, distribution and management of high value content within and across organizations according to the highest-level of security and the most stringent compliance regulations. Over 90,000 clients, 99% of the Fortune 1000 companies, have depended on Intralinks to digitally transform and simplify critical business processes, and secure high-value information. With a 20-year track record of enabling high-stakes transactions and business collaborations valued at more than $31.3 trillion, Intralinks is a trusted provider of easy-to-use, enterprise strength, cloud-based collaboration technology.

Sell $1.5B
DESCRIPTION

Morgan Stanley Capital Partners (MSCP) is the private investment arm of financial services firm and investment bank Morgan Stanley. MSCP looks to partner with founders looking to leverage Morgan Stanley's resources, as well as fund corporate carveouts, recapitalizations, buyouts, and industry consolidations. Areas of interest include business services, industrials, education, consumer products/services, food/beverage, retail, healthcare, and packaging. MSCP primarily targets businesses operating in North America valued between $75 and $750 million. Morgan Stanley Capital Partners is based in New York City.


Deal Context for Buyer #
Overall 28 of 52
Sector: Internet Software and Services 2 of 3
Type: Going Private 2 of 2
State: Florida 2 of 3
Country: United States 25 of 48
Year: 2018 3 of 4
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-19 Comar

Voorhees, New Jersey, United States

Comar is a manufacturing company that designs and manufactures plastic packaging and dispensing solutions, as well as contract manufacturing services for the medical and healthcare sectors, including diagnostics, surgical, and drug-delivery applications. The Company offers a range of molding technologies (injection, blow, etc.) and custom product development from concept through commercialization. Comar was formed in 1949 and is headquartered in Voorhees, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-04 Uplight

Boulder, Colorado, United States

Uplight is a provider of energy management software, hardware, and services for consumers and utility companies. Uplight data analytics on more than 123 million homes creates new business opportunities for any product or service provider connected to the home. Today, this includes electric and gas utilities, and energy retailers. Built over more than a decade, the Tendril Platform delivers real-time, ever-evolving data about the home and how people use energy in it. These rich insights help our customers improve customer acquisition, increase engagement and orchestrate home energy experiences. Uplight was founded in 2004 and is based in Boulder, Colorado.

Buy -