M&A Deal Summary

NextWave Wireless Acquires IPWireless

On April 9, 2007, NextWave Wireless acquired communications company IPWireless from Clarity Partners, Oak Hill Capital, SilverHaze Partners and Northwood Ventures for 100M USD

Acquisition Highlights
  • This is NextWave Wireless’ 2nd transaction in the Communications sector.
  • This is NextWave Wireless’ largest (disclosed) transaction.
  • This is NextWave Wireless’ 3rd transaction in the United States.
  • This is NextWave Wireless’ 2nd transaction in California.
Investment Fate
  • IPWireless was sold to management in 2008 for 1M USD.
  • IPWireless was sold to a strategic buyer in 2012.

M&A Deal Summary
Date 2007-04-09
Target IPWireless
Sector Communications
Buyer(s) NextWave Wireless
Sellers(s) Clarity Partners
Oak Hill Capital
SilverHaze Partners
Northwood Ventures
Deal Type Add-on Acquisition
Deal Value 100M USD

Target

IPWireless

San Francisco, California, United States
General Dynamics C4 Systems has developed lifesaving communication products, integrating them into secure networks that deliver vital information for military, homeland security and public safety professionals.

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Buyer(S) 1

Buyer

NextWave Wireless

San Diego, California, United States
Category Company
Founded 1996
Sector Communications
Employees11
DESCRIPTION

NextWave Wireless, Inc., is a wireless PCS company that intends to become a significant provider of 4G wireless telecommunications services using VOIP and IP technology over the BRS and related frequencies.

DEAL STATS #
Overall 3 of 4
Sector (Communications) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (California) 2 of 3
Country (United States) 3 of 4
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-01 PacketVideo

San Diego, California, United States

PacketVideo Corp. is a mobile phone-based multimedia software and media service platforms that have been widely adopted by mobile operators and device manufacturer. PacketVideo provides solutions that allow users to share pictures, music and videos among PCs, mobile phones and consumer electronic devices such as TVs, digital picture frames and audio equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-26 IPWireless

San Francisco, California, United States

General Dynamics C4 Systems has developed lifesaving communication products, integrating them into secure networks that deliver vital information for military, homeland security and public safety professionals.

Sell $1M

Seller(S) 4

SELLER

Clarity Partners

Sherman Oaks, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Clarity Partners is a specialist private equity firm focused on investments in the communications and media sectors. Specific areas of interest include wireless, wireline and broadband services and applications; communications infrastructure; traditional and emerging media; information technology and business services. Clarity will consider making investments at all stages of company development, including early and late stage venture investing, growth equity financings, leveraged buyouts, and divestitures. Clarity Partners was formed in 2000 and is based in Beverly Hills, California.

DEAL STATS #
Overall 3 of 14
Sector (Communications) 2 of 4
Type (Add-on Acquisition) 2 of 7
State (California) 1 of 6
Country (United States) 2 of 13
Year (2007) 1 of 4
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-01 Vue

London, United Kingdom

VUE is an international cinema operator with more than 2,400 screens located at over 285 sites across 10 European countries. Vue was founded in 1998 and is based in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-24 MetroPCS Communications

Richardson, Texas, United States

MetroPCS Communications, Inc. is a provider of wireless communications services in several metropolitan areas of the US, including SanFrancisco, Miami and Atlanta. MetroPCS offers simple, flat-rate calling plans that provide unlimited usage within a local calling area with no long-term contracts.

Sell -
SELLER

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.

DEAL STATS #
Overall 12 of 55
Sector (Communications) 2 of 6
Type (Add-on Acquisition) 4 of 23
State (California) 2 of 6
Country (United States) 10 of 46
Year (2007) 2 of 6
Size (of disclosed) 16 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-09 TravelCenters of America

Westlake, Ohio, United States

TravelCenters of America is a full-service travel center network operating TA, Petro Stopping Centers, and TA Express brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists. It operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet and Country Pride. TravelCenters of America was founded in 1972 and is based in Westlake, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-04 Jacobson

Des Moines, Iowa, United States

Jacobson Companies is a national third party logistics (3PL) company offering end-to-end supply chain management solutions around the globe. Jacobson provides creative and technology-forward logistics solutions that lead to on-time deliveries, solving complex logistics and customs scenarios and reducing logistics costs for customers.

Buy -
SELLER

SilverHaze Partners

Washington, District of Columbia, United States
Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

SilverHaze Partners is a private investment firm that acts as both a fund of funds vehicle as well as a direct investor in companies. SilverHaze devotes 80% of capital to other buyout funds with the remainder reserved for opportunistic investments in technology related businesses. SilverHaze Partners was formed in 2000 and is based in McLean, Virginia.

DEAL STATS #
Overall 6 of 13
Sector (Communications) 1 of 2
Type (Add-on Acquisition) 3 of 8
State (California) 2 of 4
Country (United States) 6 of 13
Year (2007) 2 of 4
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 DuPont Fabros Technology

Washington DC, Washington, United States

In 2003, SHP made an investment in data centers in Northern Virginia and Los Angeles, along with local real estate group DuPont Fabros, who managed the centers. The centers were leased out to companies such as Google and Yahoo. The 5 locations in the deal were rolled into a REIT which went public in October 2007. Their $1.2 billion IPO was the 6th largest REIT IPO ever.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-18 AccessLine Communications

Bellevue, Washington, United States

AccessLine Communications provides hosted VoIP services for the business market nationwide. The company's turnkey business phone service is easy to implement, cost effective, and delivers a complete range of powerful features.

Sell $35M
SELLER

Northwood Ventures

Syosset, New York, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Northwood Ventures is a private investment firm that invests at all stages of company development, including venture, buyout, consolidation, growth, recapitalization, and turnaround situations. Northwood prefers opportunities located within the US and will consider both minority and control situations. Northwood's typical investment ranges from $5 to $15 million. Target sectors include telecommunications, manufacturing, retailing/consumer, financial services, and service-oriented business industries. Northwood Ventures was formed in 1983 and is based in Syosset, New York.

DEAL STATS #
Overall 32 of 49
Sector (Communications) 6 of 11
Type (Add-on Acquisition) 14 of 20
State (California) 5 of 6
Country (United States) 30 of 45
Year (2007) 2 of 3
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 MCT

Alexandria, Virginia, United States

MCT Corp. is a provider of mobile telecommunications services.

Sell $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-01 ORBCOMM

Rochelle Park, New Jersey, United States

ORBCOMM is a wireless data communications company, provides machine-to-machine communication solutions. ORBCOMM was founded in 2001 and is based in Rochelle Park, New Jersey.

Sell -
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