Skype is finally free — eBay settles with Skype co-founders, clearing way for buyout
EBay has settled with the founders of Skype, clearing up some nasty lawsuits that had stood in the way of a Skype acquisition. Now the Internet phone company to be sold to a consortium of investors that includes Skype’s co-founders.
Private equity firm Silver Lake Partners leads the investor group, and is joined by venture capital firm Andreessen Horowitz and the Canada Pension Plan Investment Board, as well as Skype founders Niklas Zennström and Janus Friis.
As… Continue Reading
Skype founders sue eBay for copyright violations
Skype founders Niklas Zennstrom and Janus Friis filed suit today against eBay, the owner of their the intenet telephone technology since 2005, alleging that the auction site violated a copyright agreement that it wouldn’t share the proprietary code powering the service.
The suit is officially being brought by Joltid, another company owned by the duo — which, incidentally, also founded video-sharing site Joost. The trouble started when eBay moved on plans to sell off most of… Continue Reading
Private equity firms keep raising money, but where is it going to go?
Silver Lake Partners, a Menlo Park, Calif. buyout firm that bought Seagate, Flextronics, Gartner and other companies before turning them around, has finished raising its third fund at $9.3 billion in capital, according to LBO Wire (no link). It’s much larger than the firm’s previous fund, raised in 2004, of $3.6 billion.
The pace at which the private equity industry keeps raising money is astonishing. The amount of capital swashing around among the world’s investors is… Continue Reading
Roundup: Funny or Die raises cash, Netsuite soars & much more
1. Funny or Die raises $15M, despite chance of latter
2. Did White House lead rejection of California’s emissions claims?
3. Redhat CEO Matthew Szulik resigns
4. Startup.com’s Tuzman to save Roo.com
5. Netsuite’s stock soars past $35
6. Cisco’s Charles Giancarlo, leaves to Silver Lake Partners
7. Jacked, online sports service, raises $6.5M
8. Top 10 Seattle-area tech stories of the year
9. Miasole reportedly lays off 40 workers
10. Ausra’s proposed 177MW plant is approved
Funny or Die raises $15M, despite strong chance… Continue Reading
Silver Lake acquires majority stake in Mobile Messenger, mobile content co.
Silicon Valley buyout firm Silver Lake Partners has acquired a majority stake in Mobile Messenger, a Los Angeles, Calif. provider of technology and services for mobile content management and distribution. Financial terms weren’t disclosed.
Silver Lake invested from its new “Sumeru” fund, focused on small buyout transactions.
Mobile Messenger didn’t say much about where it is making its money, whether its making any money at all, or what sort of clients it has. See statement here. Its… Continue Reading
Silver Lake raises $726M for middle-market fund
Silver Lake Partners, a Silicon Valley buyout firm, has raised more than $726 million for its debut middle-market fund, according to a regulatory filing cited by PE Wire. The fund is named Silver Lake Sumeru, and is being marketed with a $750 million target and $1 billion cap.
Conversation with McNamee: Three fit the bill — RIM, Palm and Apple
VentureBeat talked last night with Roger McNamee (pictured left), asking him why his firm, Elevation Partners, would want to buy into Palm, a company that many people see having a tough time ahead, given intense competition.
Some doubt its chances of survival as a standalone company.
[See our initial coverage of Elevation's $325 million in investment into Palm. Also see the Mercury News coverage. The Elevation-Palm deal comes amid a wave of M&A activity -- see coverage... Continue Reading
Sabre Holdings, travel reservation co., sold to private equity firms for $4.3 billion
Sabre Holdings, the travel reservation company once owned by American Airlines, agreed to be sold late last night for about $4.3 billion to Menlo Park’s Silver Lake Partners and the Texas Pacific Group, according to the NYT. The deal is expected to be announced today.
Silver Lake Partners and Garnett & Helfrich raising new funds
A few weeks ago, we heard that Silver Lake and G&H were out raising buyout funds foucsed on the mid-market, or targeting buyouts of small divisions within larger companies.
Larry Aragon confirms it here:
Silver Lake Partners, of Menlo Pak, is said to be raising a $750 million fund aimed at the mid-market, as well as a $1.5 billion fund for larger deals.
Meanwhile, Garnett & Helfrich, also of Menlo Park, is trying to raise a… Continue Reading
Project management co., Serena, buys Pacific Edge Software
Serena Software, a San Mateo company that provides companies with software to manage changes in the lifecycle of complicated projects, has agreed to acquire Pacific Edge Software of Bellvue, Wash., a provider of project and portfolio management solutions.
No financial terms were disclosed for the deal. It is expected to close later this month.
Serena Software is backed by Menlo Park tech buyout firm Silver Lake Partners. Pacific Edge has raised about $44 million in… Continue Reading