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NEWS IN BRIEF Attenda MBO backed by Darwin
Autonomy acquired by HP Hewlett-Packard has acquired Autonomy, a UK-based provider of information management software and services. HP also announced a redirection away from hardware and towards cloud and software. The $10.2 billion deal is said to complement its existing technology portfolio. Autonomy will continue to operate as a separate entity.
AIM-listed Allocate deals again Allocate Software has made its second acquisition in two months with the purchase of Zircadian Holdings. Zircadian is a UK-based software as a service (SaaS) provider of products used by junior doctors and consultants in the NHS. Allocate will pay up to £7 million for the ‘complementary’ London- headquartered business.
Platinum Equity buys Quark Publishing software business Quark has been bought out by Platinum Equity for an undisclosed amount. US-based Quark was founded in 1981 with a $2,000 loan. The software is used by professionals to produce magazines, newspapers and flyers, and the company operates from offices around the world including Denver and London.
Time Out continues digital drive British publishing business Time Out has acquired LikeCube as it looks to ‘further consolidate’ as a digital media group. According to a statement, Time Out will use the information gathered from LikeCube’s software to produce ‘taste graphs’ which will then be used to supplement its editorial.
D S P
arwin Private Equity has backed the management buy-out of hosting services business Attenda with a
£50 million investment.
Darwin is backing the existing management team, which is led by chief executive officer Mark Fowle.
Fowle comments, ‘Our partnership with Darwin will give us greater scope to invest in service development and accelerate our
ambitious growth plans.
‘We have worked hard to build a strong platform from which to grow, and relish the opportunity to extend our position in this market.’
In February, London-based Darwin completed its first exit since its formation in 2007, through the sale of Maxinutrition to pharmaceuticals giant GlaxoSmithKline in a transaction worth £162 million. n
K3 purchases FD Systems to expand Sage offering
oftware services provider K3 has acquired FD Systems (FDS), which specialises in Sage and e-commerce products, for £2.23 million.
The transaction follows K3’s purchase of FDS’s Sage 200 business unit in December 2010. The Cardiff-based company will be integrated into K3’s existing Sage division. Andy Makeham, CEO of K3, says the purchase of FDS will extend its current Sage product range. He adds, ‘The deal also
represents progress in our strategy to acquire customer bases with strong recurring revenues, bringing over 300 customers where we see excellent opportunities to sell additional software services and solutions, including hosting.’
FDS’s UK and Ireland customers include water supplier United Utilities Group, television shopping group Ideal Shopping Direct and Chubb, which provides security and fire safety solutions. n
3i acquires stake in TouchTunes
rivate equity and venture capital firm 3i has acquired a minority stake of newly issued shares in TouchTunes Interactive Networks for £24.5 million.
The London-based investor will now sit alongside majority shareholder VantagePoint Capital Partners, which will invest an additional $5 million in the digital interactive entertainment business, taking the deal up to $45 million.
TouchTunes CEO Charles Goldstuck adds,
‘3i is a natural partner for TouchTunes, especially with its broad global reach.’ Established in 1998, TouchTunes operates 50,000 digital jukeboxes in restaurants and bars in North America. Headquartered in New York, the company has additional offices in Chicago and Montreal. Ken Hanau, managing partner of 3i North America, says that by ‘employing our geographic footprint and global network’, 3i is confident that it can build the company’s next stage of development. n
Mergers & Acquisitions 49
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