M&A Deal Summary

Verizon Communications Acquires Hughes Telematics

On July 26, 2012, Verizon Communications acquired technology hardware company Hughes Telematics from Granite Creek Partners for 612M USD

Acquisition Highlights
  • This is Verizon Communications’ 1st transaction in the Technology Hardware sector.
  • This is Verizon Communications’ 11th largest (disclosed) transaction.
  • This is Verizon Communications’ 9th transaction in the United States.
  • This is Verizon Communications’ 1st transaction in Georgia.

M&A Deal Summary

Date 2012-07-26
Target Hughes Telematics
Sector Technology Hardware
Buyer(s) Verizon Communications
Sellers(s) Granite Creek Partners
Deal Type Add-on Acquisition
Deal Value 612M USD
Advisor(s) Barclays Investment Bank
Moelis & Co. (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Hughes Telematics

Atlanta, Georgia, United States
website
Hughes Telematics, Inc. is an innovative developer of advanced vehicle information-based technologies and services.

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Buyer(S) 1

Buyer

Verizon Communications

New York, New York, United States

website


Category Company
Founded 1983
Sector Communications
Employees130,100
Revenue 136.8B USD (2022)
DESCRIPTION
Verizon storefront in New York City.
Verizon storefront in New York City.

Verizon Communications is a provider of communications, information, and entertainment products and services to consumers, businesses and governmental agencies. Verizon offers voice, data and video services and solutions on wireless and wireline networks that are designed to meet customers’ demand for mobility, network connectivity, security and control. Verizon dates back to 1983 and is based in New York City. Verizon Communications was founded in 1983 and is based in New York, New York.


DEAL STATS #
Overall 9 of 34
Sector (Technology Hardware) 1 of 2
Type (Add-on Acquisition) 7 of 28
State (Georgia) 1 of 1
Country (United States) 9 of 32
Year (2012) 1 of 1
Size (of disclosed) 11 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-25 CloudSwitch

Burlington, Massachusetts, United States

CloudSwitch delivers the enterprise gateway to the cloud. CloudSwitch's innovative software appliance enables enterprises to run their applications in the right cloud computing environment-securely, simply and without changes. With CloudSwitch, applications remain tightly integrated with enterprise data center tools and policies, and can be moved easily between different cloud environments and back into the data center based on the requirements of the business.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-09 EdgeCast

Los Angeles, California, United States

EdgeCast helps companies meet the ever-growing expectations of their customers. Edgecast's set of solutions across content delivery, cloud security, and video streaming, combined with a team of customer-oriented domain experts, streamlines operations and improves efficiencies, so businesses can redirect their energy into creating value for their customers not managing multiple vendors and workflows. EdgeCast was founded in 2006 and is based in Los Angeles, California.

Buy -

Seller(S) 1

SELLER

Granite Creek Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Granite Creek Partners is a Midwest US-based private equity firm focused on acquiring and investing in mid-sized companies operating in the manufacturing, distribution, business services, healthcare, and food sectors. The Firm looks to commit $7 to $25 million per transaction and can invest across the capital structure, including control/minority equity, mezzanine debt, senior secured debt, and debtor-in-possession loans. Granite Creek Partners was formed in 2005 and is based in Chicago.


DEAL STATS #
Overall 3 of 10
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 1 of 5
State (Georgia) 1 of 1
Country (United States) 3 of 9
Year (2012) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Fermented Nutrition

Luxemburg, Wisconsin, United States

Fermented Nutrition is a processor of whey proteins specializing in the production of whey protein concentrate as well as a proprietary feed for dairy and beef cattle called Lacto-Whey®. The company also distributes other specialty feed products to local dairy farmers. Fermented Nutrition was founded in 1973 by seven cheese-making families and has prospered as the global demand for protein surges and dairymen across the country recognize the value of Lacto-Whey® in their rations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 The Chia

Port Melbourne, Australia

The Chia Company is a marketer and distributor of chia seeds worldwide. Chia is the highest plant-based source of Omega 3, fiber and protein. The Chia Company, through exclusive grower relationships and years of agronomical work, supplies global food manufacturers such as Kellogg's and PepsiCo, as well as produces its own brand of chia products stocked in national retailers such as Whole Foods Markets. Founded in Australia in 2003, The Chia Company is based in New York.

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