Investment Summary

PocketGear Invests In Handango

On February 23, 2010, PocketGear invested in media company Handango from Pharos Capital Group and SSM Partners

Investment Highlights
  • This is PocketGear’s 1st transaction in the Media sector.
  • This is PocketGear’s 1st transaction in the United States.
  • This is PocketGear’s 1st transaction in Texas.

Investment Summary

Date 2010-02-23
Target Handango
Sector Media
Investor(s) PocketGear
Sellers(s) Pharos Capital Group
SSM Partners
Deal Type Acquisition Financing

Target

Handango

Hurst, Texas, United States
Handango is the leading global provider of smartphone content. By leveraging 16,000 content partners across more than 500 distribution channels, the largest collection of partners in the mobile content industry, Handango seamlessly delivers the entire smartphone marketplace into millions of customers' hands, both on the web and on smart devices. The company's market-leading content delivery platform, Handango AMPP, is the platform of choice for numerous mobile industry leaders including Motorola, Nokia, Samsung, RIM, HP, Verizon Wireless, T-Mobile, Microsoft and AOL. By delivering intuitive and compelling consumer experiences, Handango has become the trusted source for millions of smartphone users around the world. The Company is based out of Hurst, Texas and offers its products and services worldwide.

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Investor(S) 1

Investor

PocketGear

United States

Category Company
Sector Information Technology
DESCRIPTION

ocketGear has just acquired its former competitor Handango in the cross-platform app store space, and can now claim a library of software that places it right alongside Apple's App Store in terms of the pure number of applications on offer.


DEAL STATS #
Overall 1 of 1
Sector: Media M&A 1 of 1
Type: Acquisition Financing M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2010 M&A 1 of 1

Seller(S) 2

SELLER

Pharos Capital Group

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Pharos Capital Group is a private equity firm that provides later-stage equity funding to companies at or near cash-flow break even. Investment funds are typically used to support growth, acquisitions, management buyouts, or recapitalization. Pharos looks to commit $20 to $50 million per transaction. Target sectors include healthcare, business services, and technology. Pharos prefers US-based opportunities. Pharos Capital Group was formed in 1998 and is based in Dallas, Texas.


DEAL STATS #
Overall 10 of 23
Sector: Media M&A 1 of 1
Type: Acquisition Financing M&A Deals 1 of 1
State: Texas M&A 2 of 3
Country: United States M&A 9 of 22
Year: 2010 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-16 TotalTrax

Newport, Delaware, United States

TotalTrax, Inc. is a provider of real-time vehicle, driver and inventory tracking technologies for manufacturing and warehouse operations. Offering a complete technology platform that transforms traditional material handling vehicles into “smart trucks”, TotalTrax provides solutions that automate data collection and reporting for materials handling operations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-06 Converge

Peabody, Massachusetts, United States

Converge is a trading exchange for electronic components, computer products and networking equipment. Converge provides a high degree of market liquidity by aggregating supply and demand from thousands of component, original equipment and contract manufacturers, as well as distributors and resellers.

Sell -
SELLER

SSM Partners

Memphis, Tennessee, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

SSM Partners is a private equity firm that targets investments in smaller, rapidly growing, private companies based in the Southeast US. Areas of interest include business/outsourcing services, healthcare and consumer services. SSM focuses on transactions requiring $10 to $30 million of equity. Prospective transactions include growth financings, acquisitions, management led buyouts, and recapitalizations. SSM will also consider early-stage opportunities. SSM Partners is based in Memphis, Tennessee.


DEAL STATS #
Overall 14 of 28
Sector: Media M&A 1 of 1
Type: Acquisition Financing M&A Deals 2 of 2
State: Texas M&A 6 of 9
Country: United States M&A 14 of 28
Year: 2010 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-09-25 Plan Express

Memphis, Tennessee, United States

Plan Express, Inc., a document management company, engages in the management, printing, reproduction, and distribution of construction documents, plans, and contract specifications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-19 FrontStream

Claymont, Delaware, United States

FrontStream is a provider of software and payment processing solutions that help charities and companies raise money, engage constituents and make a positive impact. FrontStream was established in 2007 and is based in Claymont, Delaware.

Buy -