M&A Deal Summary

Teleglobe International Holdings Acquires ITXC

On May 31, 2004, Teleglobe International Holdings acquired communications company ITXC from Spectrum Equity

Acquisition Highlights
  • This is Teleglobe International Holdings’ 1st transaction in the Communications sector.
  • This is Teleglobe International Holdings’ 1st transaction in the United States.
  • This is Teleglobe International Holdings’ 1st transaction in New Jersey.

M&A Deal Summary

Date 2004-05-31
Target ITXC
Sector Communications
Buyer(s) Teleglobe International Holdings
Sellers(s) Spectrum Equity
Deal Type Add-on Acquisition

Target

ITXC

Princeton, New Jersey, United States
ITXC Corp. was formed in the early development of VOIP (Voice Over the Internet Protocol) to provide global wholesale voice and facsimile transmission services to both alternative carriers and major Long Distance Providers.

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Buyer(S) 1

Buyer

Teleglobe International Holdings

Hamilton, Bermuda

Category Company
Sector Communications
DESCRIPTION

Teleglobe International Holdings Ltd. provides international voice and communication services.


DEAL STATS #
Overall 1 of 1
Sector: Communications M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: New Jersey M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2004 M&A 1 of 1

Seller(S) 1

SELLER

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.


DEAL STATS #
Overall 9 of 77
Sector: Communications M&A 3 of 9
Type: Add-on Acquisition M&A Deals 7 of 46
State: New Jersey M&A 1 of 3
Country: United States M&A 9 of 68
Year: 2004 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-12 NEP Group

Pittsburgh, Pennsylvania, United States

NEP is a media services partner for live sports and entertainment that offers a network of experts, cutting-edge technology, and an expansive portfolio of customer-driven, innovative solutions. Through operations in 25 countries, its teams have supported thousands of major productions and events on every continent with excellence and reliability. NEP was formed in 1986 and is based in Pittsburgh, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-15 RiskMetrics Group

New York, New York, United States

RiskMetrics Group, Inc. is a provider of risk analytics and information processing to the global financial services community. The RiskMetrics service offering allows investors, shareholders, managers, and regulators to measure and manage financial risk.

Buy $122M