M&A Deal Summary

TÜV Rheinland AG Acquires OpenSky

On January 10, 2014, TÜV Rheinland AG acquired internet software and services company OpenSky from Providence Equity Partners and Raine

Acquisition Highlights
  • This is TÜV Rheinland AG’s 1st transaction in the Internet Software and Services sector.
  • This is TÜV Rheinland AG’s 1st transaction in the United States.
  • This is TÜV Rheinland AG’s 1st transaction in New York.

M&A Deal Summary

Date 2014-01-10
Target OpenSky
Sector Internet Software and Services
Buyer(s) TÜV Rheinland AG
Sellers(s) Providence Equity Partners
Raine
Deal Type Add-on Acquisition
Advisor(s) Boston Meridian Partners (Financial)

Target

OpenSky

New York, New York, United States
OpenSky is a e-commerce platform curated by celebrities and experts.

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Buyer(S) 1

Buyer

TÜV Rheinland AG

Cologne, Germany

Category Company
Founded 1872
Sector Business Services
Employees17,200
Revenue 1.4B EUR (2011)
DESCRIPTION

The TÜV Rheinland Group is a provider of technical services worldwide. Founded in 1872 and headquartered in Cologne, the Group employs 17.200 people in 500 locations in 65 countries. The Group’s mission and guiding principle is to achieve sustained development of safety and quality in order to meet the challenges arising from the interaction between man, technology and the environment.


DEAL STATS #
Overall 1 of 1
Sector: Internet Software and Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2014 M&A 1 of 1

Seller(S) 2

SELLER

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 40 of 102
Sector: Internet Software and Services M&A 2 of 14
Type: Add-on Acquisition M&A Deals 21 of 41
State: New York M&A 5 of 9
Country: United States M&A 28 of 69
Year: 2014 M&A 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-06 Stream International

Wellesley, Massachusetts, United States

Stream Global Services (formerly Global BPO Services) is a global provider of business process outsourcing, delivering a range of services, including technical support, customer service, sales and customer retention.

Sell $820M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-17 Grupo Corporativo ONO S.A.

Madrid, Spain

Grupo Corporativo ONO S.A. is a broadband service provider. It offers direct access telephony, pay television and internet access services to the residential market where, ONO offers advanced voice, data and value-added services across its own high capacity local access and national backbone networks.

Sell €7.2B
SELLER

Raine

New York, New York, United States

Investor Investor Investor Investor Investor


Category Merchant Bank
Founded 2009
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Raine Group is a global merchant bank focused on advising and investing in businesses operating in the digital, media & entertainment and sports & lifestyle sectors. Raine's investment arm looks to invest $5 to $80 million per transaction. The Raine Group was formed in 2009 and is based in New York City.


DEAL STATS #
Overall 1 of 8
Sector: Internet Software and Services M&A 1 of 3
Type: Add-on Acquisition M&A Deals 1 of 2
State: New York M&A 1 of 3
Country: United States M&A 1 of 7
Year: 2014 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-11 Nitro Circus

Mona Vale, Australia

Nitro Circus is an action sports franchise. Nitro Circus was founded in 2009 and is based in Mona Vale, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-30 Margaritaville Enterprises

Orlando, Florida, United States

Margaritaville Enterprises operates a chain of stores. Its stores provide merchandise comprising graphic tee shirts, shirts, fleece, pants and shorts, sunglasses, beachwear, accessories, jewelry, and shoes and flip flops for men and women; headwear, such as caps, straw hats, and visors; souvenirs that include home décor, kitchenware, CDs and media, and games; and signature items, furniture, gift certificates, custom items, and drink makers. Margaritaville Enterprises was founded in 2006 and is based in Orlando, Florida.

Buy -