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  5. TPG and The Carlyle Group Acquire Kakao Mobility

M&A Deal Summary

TPG and The Carlyle Group Acquire Kakao Mobility

On June 30, 2017, private equity firms TPG and The Carlyle Group acquired internet software and services company Kakao Mobility from Kakao

Acquisition Highlights
  • This is TPG’s 19th and The Carlyle Group’s 21st transaction in the Internet Software and Services sector.
  • This is TPG’s 1st and The Carlyle Group’s 14th transaction in South Korea.

M&A Deal Summary
Date 2017-06-30
Target Kakao Mobility
Sector Internet Software and Services
Buyer(s) TPG
The Carlyle Group
Sellers(s) Kakao
Deal Type Divestiture

Target

Kakao Mobility

Seongnam-si, South Korea
Kakao Mobility provides a wide range of mobility services through its Kakao T mobile-app platform including taxi-hailing, designated driver, electric bike hire, parking, and navigation. The company is also advancing its autonomous driving technology. Kakao Mobility is based in Seongnam-si, South Korea.

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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 293 of 453
Sector: Internet Software and Services M&A 19 of 34
Type: Divestiture M&A Deals 24 of 41
Country: South Korea M&A 1 of 2
Year: 2017 M&A 18 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-29 Visma

Oslo, Norway

Visma offers software and services that simplify and digitize core business processes in the private and public sectors. Visma was founded in 1985 and is based in Oslo, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-24 Solinftec

Lafayette, Indiana, United States

Solinftec develops hardware, software, and mobile applications to support agricultural operations, with a strong focus on the sugar, ethanol, grain, and cotton markets. Solinftec was founded in 2007 and is based in Lafayette, Indiana.

Buy -
Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 592 of 750
Sector: Internet Software and Services M&A 21 of 25
Type: Divestiture M&A Deals 61 of 74
Country: South Korea M&A 14 of 17
Year: 2017 M&A 12 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-16 Duravant

Downers Grove, Illinois, United States

Duravant is a provider of highly engineered automation equipment and related aftermarket solutions for packaging, material handling, and food processing applications. Duravant designs and assembles mission-critical equipment, including form-fill-seal machines, robotic palletizers, conveyors, and thermal processors, primarily serving the food and beverage, e-commerce, distribution, and agriculture end-markets. Duravant is based in Downers Grove, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-05 Brintons Carpets

Kidderminster, United Kingdom

Brintons Carpets is a designer and manufacturer of luxury woven carpets for commercial and residential premises. Brintons Carpets was founded in 1783 and is based in Kidderminster, United Kingdom.

Sell -

Seller(S) 1

SELLER

Kakao

Jeju, South Korea
Category Company
Founded 1995
Sector Internet Software and Services
Employees17,117
Revenue 7.87T KRW (2024)
DESCRIPTION

Kakao is a mobile lifestyle company provider of web-based mail services through messaging apps. Kakao was founded in 1995 and is based in Jeju, South Korea.

DEAL STATS #
Overall 1 of 1
Sector: Internet Software and Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: South Korea M&A 1 of 1
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-01 Parking Square

Seoul, South Korea

Parking Square, Inc. is a developer and operator of 'Park Here', an app that allows searching and reservation of parking spots. The app allows its users to quickly search for vacant parking lots nearby and reserve the vacancy at a discounted rate.

Buy -
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