M&A Deal Summary

Whitecap Venture Partners Acquires IMagicTV

On January 1, 1999, venture capital firm Whitecap Venture Partners acquired software company IMagicTV for 10M USD

Acquisition Highlights
  • This is Whitecap Venture Partners’ 1st transaction in the Software sector.
  • This is Whitecap Venture Partners’ largest (disclosed) transaction.
  • This is Whitecap Venture Partners’ 6th transaction in Canada.
  • This is Whitecap Venture Partners’ 1st transaction in New Brunswick.
Investment Fate
  • IMagicTV was sold to a publicly-traded strategic buyer in 2003.

M&A Deal Summary
Date 1999-01-01
Target IMagicTV
Sector Software
Buyer(s) Whitecap Venture Partners
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 10M USD

Target

IMagicTV

Saint John, New Brunswick, Canada
website
IMagicTV, Inc. is a supplier of software products and services that enable service providers to create, deliver and manage digital television and media services over broadband networks.

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Buyer(S) 1

Buyer

Whitecap Venture Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website

Category Venture Capital Firm
Founded 1993
PE ASSETS 225M CAD
Size Small
Type Sector Focused
DESCRIPTION

Whitecastle Private Equity Partners (WPEP) is the private equity arm of Whitecastle Investments, a firm which also provides venture capital financing. WPEP looks to invest C$5 to C$25 million to help fund buyouts, acquisitions, expansions, and privatizations of companies valued up to C$75 million. Target industries include food services, recycling and waste management, technology, healthcare services and products, financial services, and manufacturing. Whitecastle Private Equity Partners was formed in 1958 and is based in Toronto, Ontario.

DEAL STATS #
Overall 6 of 8
Sector (Software) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 4 of 6
State (New Brunswick) 1 of 1
Country (Canada) 6 of 8
Year (1999) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-01 Electrophotonics Corp

Montreal, Quebec, Canada

Electrophotonics Corp. was an innovative developer of components and modules for optical networks. Their products spanned the range from Dense Wavelength Division Multiplexing (DWDM) components, dispersion equalization modules and network performance monitoring subsystems.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-01 Loran International Technologies Inc

Ottawa, Ontario, Canada

Located in Ottawa, Loran was founded in 1992 as a systems integrator of high-speed networks. While integrating networks for more than 350 leading organizations, they identified critical needs in these organizations' management tools. Loran began developing their patented product, Kinnetics, to address these needs in 1995.

Sell -
Mergr

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