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M&A Deal Summary

Providence Equity Partners Acquires Virtual Radiologic

On May 17, 2010, private equity firm Providence Equity Partners acquired information technology company Virtual Radiologic for 294M USD

Acquisition Highlights
  • This is Providence Equity Partners’ 6th transaction in the Information Technology sector.
  • This is Providence Equity Partners’ 31st largest (disclosed) transaction.
  • This is Providence Equity Partners’ 37th transaction in the United States.
  • This is Providence Equity Partners’ 1st transaction in Minnesota.
Investment Fate
  • Virtual Radiologic was sold to a publicly-traded strategic buyer in 2015 for 500M USD.

M&A Deal Summary
Date 2010-05-17
Target Virtual Radiologic
Sector Information Technology
Buyer(s) Providence Equity Partners
Deal Type Going Private
Deal Value 294M USD
Advisor(s) Goldman Sachs (Financial)
Oppenheimer Wolff & Donnelly LLP (Legal)

Target

Virtual Radiologic

Eden Prairie, Minnesota, United States
Virtual Radiologic Corp. (VRAD) is a teleradiology services provider for all modalities.

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Buyer(S) 1

Buyer

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.

DEAL STATS #
Overall 56 of 137
Sector: Information Technology M&A 6 of 14
Type: Going Private M&A Deals 7 of 12
State: Minnesota M&A 1 of 1
Country: United States M&A 37 of 86
Year: 2010 M&A 2 of 4
Size (of disclosed) 31 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-05 Autotrader

Atlanta, Georgia, United States

Autotrader is an online automotive marketplace, aggregating millions of new and used car listings from auto dealers. Autotrader was formed in 1997 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-15 AcadeMedia

Stockholm, Sweden

AcadeMedia is an education company in Sweden with operations spanning pre and compulsory school, upper secondary school, and adult education. The company operates more than 150 schools and adult education units across Sweden and has approximately 2,500 employees and 45,000 students. AcadeMedia was founded in 1996 and is based in Stockholm, Sweden.

Buy -
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