M&A Deal Summary

FTV Capital and Treacle Private Equity Acquire SourceCode Technology Holdings

On December 15, 2006, growth capital firm FTV Capital and private equity firm Treacle Private Equity acquired software company SourceCode Technology Holdings

Acquisition Highlights
  • This is FTV Capital’s 7th and Treacle Private Equity’s 3rd transaction in the Software sector.
  • This is FTV Capital’s 30th and Treacle Private Equity’s 2nd transaction in the United States.
  • This is FTV Capital’s 4th and Treacle Private Equity’s 1st transaction in Washington.

M&A Deal Summary

Date 2006-12-15
Target SourceCode Technology Holdings
Sector Software
Buyer(s) FTV Capital
Treacle Private Equity
Deal Type Buyout (LBO, MBO, MBI)

Target

SourceCode Technology Holdings

Redmond, Washington, United States
SourceCode is a software developer whose primary product is K2.net, a workflow and rapid process integration toolset.

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Buyer(S) 2

Buyer

FTV Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 6.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FTV Capital is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.


DEAL STATS #
Overall 33 of 133
Sector: Software M&A 7 of 27
Type: Buyout (LBO, MBO, MBI) M&A Deals 21 of 35
State: Washington M&A 4 of 5
Country: United States M&A 30 of 105
Year: 2006 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-20 WisdomTree

London, United Kingdom

WisdomTree develops and distributes specialized exchange-traded commodities which include the WisdomTree UCITS Exchange Traded Funds (ETF), ETF Securities ETPs, and Boost ETP ranges. WisdomTree was founded in 2003 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 GigaSpaces Technologies

New York, New York, United States

GigaSpaces Technologies provides in-memory computing platforms for real-time insight into action and extreme transactional processing. With GigaSpace, enterprises can operationalize machine learning and transactional processing to gain real-time insights on their fast and historical data and act upon them at the moment. GigaSpaces Technologies was founded in 2000 and is based in New York, New York.

Buy -
Buyer

Treacle Private Equity

Johannesburg, South Africa

Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

Treacle Private Equity is a South African private equity firm focused on equity investments in mid-market private and small cap listed companies in Southern Africa. Treacle generally looks to invest in businesses with revenues of R100 million to R1 billion. Prospective transaction situations include management buyouts, growth/acquisition financings, recapitalizations and restructurings of companies in distress, and development capital for emerging businesses. Companies of interest include export and manufacturing companies, as well as businesses that supply goods and services to key industries driving the South African economy. Treacle avoids investing in resource mining, real estate, and primary agriculture. Treacle Private Equity was formed in 2000 and is based in Johannesburg.


DEAL STATS #
Overall 5 of 5
Sector: Software M&A 3 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
State: Washington M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2006 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-01 Senwes

Klerksdorp, South Africa

Senwes is focused on providing input products required for maize farming such as finance, equipment and materials. It also focuses on the development of access to markets for maize producers through its 63 grain storage silo complexes and its grain trading activities.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-04 Teraco

Johannesburg, South Africa

Teraco is a provider of carrier and cloud-neutral colocation data centers and with over 18 000 cross-connects. As the first provider of highly resilient, vendor-neutral data environments in sub-Saharan Africa, Teraco brings global content closer to the digital edge. Teraco was founded in 2008 and is based in Johannesburg, South Africa.

Sell -