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M&A Deal Summary

TPG and Riverwood Capital Acquire Aptina Imaging

On June 1, 2009, private equity firms TPG and Riverwood Capital acquired semiconductors company Aptina Imaging from Micron

Acquisition Highlights
  • This is TPG’s 6th and Riverwood Capital’s 1st transaction in the Semiconductors sector.
  • This is TPG’s 94th and Riverwood Capital’s 1st transaction in the United States.
  • This is TPG’s 32nd and Riverwood Capital’s 1st transaction in California.
Investment Fate
  • Aptina Imaging was sold to a publicly-traded strategic buyer in 2014 for 400M USD.

M&A Deal Summary
Date 2009-06-01
Target Aptina Imaging
Sector Semiconductors
Buyer(s) TPG
Riverwood Capital
Sellers(s) Micron
Deal Type Divestiture

Target

Aptina Imaging

San Jose, California, United States
Aptina Imaging Corp. is a provider of complementary metal–oxide–semiconductor (CMOS) imaging solutions with a growing portfolio of products that can be found in all the leading mobile phone and notebook computer brands.

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Buyer(S) 2

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.

DEAL STATS #
Overall 133 of 453
Sector: Semiconductors M&A 6 of 6
Type: Divestiture M&A Deals 16 of 41
State: California M&A 32 of 88
Country: United States M&A 94 of 299
Year: 2009 M&A 5 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-25 Daphne International Holdings

Shanghai, China

Daphne International Holdings is principally engaged in the manufacturing, marketing and distribution of footwear, apparel and accessories products under its own and licensed brands and on an OEM basis. Its major markets include China and the U.S. The company operates over 3,000 outlets, comprising Daphne, Shoebox, adidas, Nike, Arezzo, Sofft and Born brands, in mainland China and Taiwan. Daphne International Holdings was founded in 1987 and is based in Shanghai, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-16 CourtTrax

Bellevue, Washington, United States

CourtTrax is a provider of online, real-time court records search and retrieval system intended to support the ongoing business objectives of the legal, title, and insurance professions. The company's system provides a digital platform that offers access to civil and criminal records for the district, municipal, superior and state supreme courts as well as access to federal district civil and criminal records and federal bankruptcy courts, enabling paralegals and lawyers to get all the docket entries, judgment, financial information in just one name and case number search. CourtTrax was founded in 2004 and is based in Bellevue, Washington.

Buy -
Buyer

Riverwood Capital

Menlo Park, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2008
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Riverwood Capital is a tech-focused on private equity firm. Riverwood will consider investment opportunities across North and South America and looks for situations where the firm can commit $25 to $125 per transaction. Prospective transaction situations include growth capital financings, carve-outs, consolidations, and buyouts. Specific areas of interest include IT, communications, technology hardware, electronics, software, and digital media. Riverwood Capital was formed in 2008 and is based in Menlo Park, California.

DEAL STATS #
Overall 2 of 46
Sector: Semiconductors M&A 1 of 1
Type: Divestiture M&A Deals 1 of 2
State: California M&A 1 of 17
Country: United States M&A 1 of 29
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-14 Globant

Luxembourg, Luxembourg

Globant is a provider of software product development and IT outsourcing services from Latin America. Globant was incorporated in 2003 and is based in Luxembourg.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 Operative

New York, New York, United States

Operative is a provider of software solutions to the media industry. Operative is the preferred business software partner for over 150 of the world’s top media brands. No other software company brings a comparable depth of experience to create truly innovative software that performs across all platforms, revenue models, and business units. Operative is based in New York, New York.

Buy -

Seller(S) 1

SELLER

Micron

Boise, Idaho, United States
Category Company
Founded 1978
Sector Semiconductors
Employees48,000
Revenue 25.1B USD (2024)
DESCRIPTION

Micron is a provider of advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets a full range of DRAM, NAND and NOR flash memory, as well as other innovative memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, embedded and mobile products. Micron's common stock is traded on the NASDAQ under the MU symbol. Micron was founded in 1978 and is based in Boise, Idaho.

DEAL STATS #
Overall 1 of 2
Sector: Semiconductors M&A 1 of 1
Type: Divestiture M&A Deals 1 of 2
State: California M&A 1 of 2
Country: United States M&A 1 of 2
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-13 Displaytech

Longmont, Colorado, United States

Displaytech, Inc. develops, and markets High resolution miniature displays for projection and magnified-view applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-09 Numonyx BV

Rolle, Switzerland

Numonyx is a leading provider of flash memory, formed through the combination of Intel Corporation’s NOR flash memory business unit and STMicroelectronics’ NOR and NAND business units. Numonyx creates memory solutions that enable many of today’s leading applications: wireless handsets, digital cameras, routers, automotive safety systems, industrial automation and removable storage media. The company is recognized as a leader in flash memory development including next generation Phase Change Memory. Numonyx is headquartered in Rolle, Switzerland.

Buy $1.3B
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