Private Equity Firms Bet on Stock Market's Fixer-uppers
Private equity firms, armed with a record $1 trillion in cash, are investing more in public companies than at any time since the financial crisis, buying those left behind in Wall Street’s nine-year bull market.
KELA Group Receives $50M Investment From Vector Capital
The KELA Group (KELA), a rapidly growing, Israel-based provider of advanced cyber intelligence software and solutions, today announced a $50M equity investment from San Francisco-based Vector Capital. Vector’s minority investment marks the first institutional funding received by KELA in its 9-year history.
Vector Capital Funds Expansion with Sale of Minority Stake to Dyal
On the heels of closing its fifth fund at $1.4 billion, Vector Capital sold a non-voting minority interest to Dyal Capital Partners, a division of Neuberger Berman that acquires minority equity stakes in established alternative asset managers. Other PE firms Dyal backs include: H.I.G., KPS Capital Partners, Silver Lake and Vista Equity Partners. Vector, based in San Francisco, invests in technology sectors, including: software, Internet, digital media, communications, and industrial technology. The firm has been active with portfolio company deals of late, including recently agreeing to sell 2020 Technologies, a developer of interior design software, to Golden Gate Capital. We caught up with Vector founder Alex Slusky to ask about the Dyal deal, the larger trend of middle-market PE firms selling minority stakes and the tech M&A landscape.
Vector Capital Receives Strategic Minority Investment from Dyal Capital
Vector Capital, a leading private equity firm specializing in transformational investments in established technology businesses, today announced that affiliates of Dyal Capital Partners (“Dyal”), a division of Neuberger Berman, made a strategic minority investment in Vector. Under the terms of the transaction, Dyal has acquired a passive, non-voting, minority stake in the firm. There will be no changes to Vector’s strategy, investment process or day-to-day operations.
Saba Expands Board of Directors with the Appointment of Neil Hudspith
Saba Software, a leading provider of people-centric talent management solutions, has appointed DocuSign’s President, Worldwide Field Operations, Neil Hudspith, to its Board of Directors. Mr. Hudspith’s appointment further accelerates Saba’s growth strategy as a leader in the SaaS talent management market, and bolsters strategic and operational expertise.
Saba Software Announces CEO Succession
Saba Software, a leading provider of people-centric talent management solutions, today announced Pervez Qureshi’s retirement from the role of CEO. Phil Saunders, Saba’s President, will immediately assume the role of President and CEO as part of the company’s succession plan, and will also maintain his position on Saba’s board.
Marco Lopez Joins ChyronHego as CEO
ChyronHego, a portfolio company of Vector Capital, today announced the appointment of Marco Lopez as CEO, effective Jan. 8. The company’s former president and CEO, Johan Apel, will continue serving the company as executive chairman of the board with an emphasis on ChyronHego’s market leadership in sports solutions.
Vector Capital Announces Successful Restructuring of Funds II and III and Affiliated Vehicles for Approximately $450 Million
Vector Capital, a leading private equity firm specializing in transformational investments in established technology businesses, today announced it has successfully completed a restructuring of Vector Capital II, L.P., a 1999 vintage fund, Vector Capital III, L.P., a 2005 vintage fund, and affiliated vehicles held by existing LPs (collectively, the “Funds”), for approximately $450 million. Goldman Sachs Asset Management’s Vintage Funds and GIC led the transaction, and collectively, are now the largest LPs in the Funds.
Corel Acquires ClearSlide: Sales Engagement Platform Leader Poised for Growth
Corel Corporation today announced that it has acquired ClearSlide Inc., the sales engagement platform leader that enables sales, marketing, and service teams to drive more successful customer interactions. With this acquisition, Corel will make significant investment into the development of ClearSlide's cloud-based platform, fueling its technology leadership and enabling ClearSlide to grow its business in new markets.
ChyronHego Names Boromy Ung as Chief Product Officer
ChyronHego today announced the appointment of Boromy Ung as chief product officer, reporting to President and CEO Johan Apel. As leader of ChyronHego’s global product management division, Ung has taken charge of the vision and roadmap for the company’s award-winning family of solutions for live television, news, and sports production.