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Robert Smith, founder, chair and CEO of Vista Equity Partners, speaks at the Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2016. With this debt, Vista could generate strong returns if Pluralsight's business performed well, according to the sources. They also show that Vista propped up Pluralsight by allowing it to borrow $162.5 million from its private equity fund. "The company experienced rapid deterioration of its business in the first quarter," Vista wrote in a fund document dated May 28. In a May 28 update to fund investors, Vista said Pluralsight's equity value went from $1.5 billion to zero in the first quarter of 2024.
Persons: Robert Smith, Lucy Nicholson, Vista, Pluralsight, Goldman Sachs, Golub, Gustavo Schwed, NYU Stern, It's, Steven Kaplan, Kaplan, Chris Walters, Aaron Skonnard, Walters, Skonnard, KBRA, Milana Vinn, Greg Roumeliotis, Dave Gregorio Organizations: Vista Equity Partners, Milken Institute Global Conference, REUTERS, Vista Equity, Reuters, Cloud, U.S . Securities, Exchange Commission, Vista, NYU, Chicago Booth School, Business, Thomson Locations: Beverly Hills , California, U.S, Vista, BlackRock, Oaktree, Pluralsight, New York
He tries to keep himself in shape during the hourlong exercise period he is permitted each day. Friends who correspond with him describe Mr. Gershkovich, a Wall Street Journal reporter, as positive, strong and rarely discouraged, despite facing the official wrath of President Vladimir V. Putin’s Russia. He is scheduled go on trial Wednesday, facing up to 20 years in prison on an espionage charge that he, his employer and the U.S. State Department vehemently deny. At the heart of Mr. Gershkovich’s ordeal is a void — the absence of any evidence made public by the Russian authorities to support their claim that he was a spy. Nor is any likely to emerge from his trial in Yekaterinburg, which has been declared secret, with any observers barred from attending, and his lawyers prohibited from publicly revealing anything they learn.
Persons: Evan Gershkovich, , Gershkovich, Vladimir V, Maria Borzunova Organizations: Street Journal, U.S . State Department Locations: Moscow’s, United States, Russia, Russian, Yekaterinburg
A DoorDash delivery person is pictured on the day they hold their IPO in the Manhattan borough of New York City, New York, U.S., December 9, 2020. Doordash shares fell 2% to $111.68 after the report, before recovering some of that loss. However this year, those shares were automatically converted into class A shares, Deliveroo's IPO prospectus shows. Online food delivery companies have looked to pivot away from unprofitable markets. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights
Persons: Carlo Allegri, Doordash, Deliveroo's, Will Shu, Shu, Deliveroo, Greg Orlowski, Tony Xu, U.S . Doordash, Uber, Amy, Jo Crowley, Abigail Summerville, Anousha Sakoui, Alexander Smith, Nick Zieminski Organizations: REUTERS, Companies, Deliveroo, Chevron, DST Global, Sunday Times, Financial Times, U.S ., Wolt, United Arab, Thomson Locations: Manhattan, New York City , New York, U.S, Chevron San Francisco, London, Taiwan, Deliveroo, France, United Arab Emirates, Hong Kong
A court in Russia’s Siberian region of Yakutia sentenced him to 11 years in a maximum-security prison. So when recruiters from the private Wagner mercenary group offered him freedom and a clean slate if he deployed to fight in Ukraine, Mr. Savvinov, a morgue orderly, seized the opportunity. By February, Mr. Savvinov had completed his service and was back in his native village of Kutana. Russia’s practice of recruiting convicts has been the backbone of its success in Ukraine, providing an overwhelming manpower advantage in the war. But it is backfiring in tragic ways as inmates pardoned for serving in Ukraine return to Russia and commit new crimes.
Persons: Viktor Savvinov, Wagner, Savvinov, axing Organizations: Mr, of, Fatherland Locations: Russia’s Siberian, Yakutia, Ukraine, Kutana, Russia
At a memorial service this week outside the concert hall where Islamist extremists are suspected of carrying out a deadly terrorist attack, one of Russia’s most popular pro-Kremlin rappers warned “right-wing and far-right groups” that they must not “incite ethnic hatred.”At a televised meeting about the attack, Russia’s top prosecutor, Igor Krasnov, pledged that his service was paying “special attention” to preventing “interethnic and interfaith conflicts.”And when President Vladimir V. Putin made his first comments on the tragedy last weekend, he said he would not allow anyone to “sow the poisonous seeds of hatred, panic and discord in our multiethnic society.”In the wake of the assault near Moscow that killed 139 people last Friday, there has been a recurring theme in the Kremlin’s response: a fear that the tragedy could spur ethnic strife inside Russia. While Mr. Putin and his security chiefs are accusing Ukraine — without evidence — of having helped organize the killing, the fact that the four detained suspects in the attack are from the predominantly Muslim Central Asian country of Tajikistan is stoking anti-migrant rhetoric online.
Persons: , , Igor Krasnov, “ interethnic, Vladimir V, Putin Organizations: Kremlin, Ukraine, Central Locations: Moscow, Russia, Central Asian, Tajikistan
You have a preview view of this article while we are checking your access. When we have confirmed access, the full article content will load. How Russia Depicts Wounded Soldiers: As Heroes, or Not at AllTroops with amputated limbs or serious injuries return home to find a patchwork system of treatment and, often, efforts to keep them out of the public eye. Share full articleA concert for wounded soldiers at a military hospital in Rostov-on-Don, southwestern Russia, in March 2022. Credit... Sergey Pivovarov/ReutersNeil MacFarquhar and
Persons: Sergey Pivovarov, Neil MacFarquhar Organizations: All Troops Locations: Russia, Rostov
If so, Mr. Carlson would be the first American media figure to land a formal interview with the Russian leader since he invaded Ukraine nearly two years ago. Mr. Putin’s spokesman, Dmitri Peskov, has indicated that Mr. Putin was denying requests from Western new outlets because their countries had been “stupefied” by anti-Russian propaganda. But Mr. Carlson has been a defender of Mr. Putin while attacking his Western critics, placing him at the vanguard of a pro-Putin wing of the American conservative movement. In a call with reporters on Monday, Mr. Peskov said: “Many foreign journalists come to the Russian Federation every day. Many continue to work here, and we welcome this.” He added, “As for possible interviews with the president, including with foreign media, we have nothing to report at the moment.”
Persons: Tucker Carlson, Vladimir V, Putin, Carlson, Putin’s, Dmitri Peskov, Mr, Peskov Organizations: Fox News, Putin, Russian Federation Locations: Moscow, Russia, United States, American, Ukraine
CNN —Police carried out raids on gay venues in Russia late Friday, two online Russian news outlets reported, one day after the country’s top court ruled to ban the “international LGBTQ movement” and labelled it an extremist organization. “Yesterday was the only drug raid at Hunters Party. Another source with direct knowledge of the raid on the Hunters Party pop-up told CNN it was just a routine drug raid. However, people chatting on an online group linked to the Hunters Party expressed their fear. It is now illegal in Russia to promote or “praise” LGBTQ relationships, publicly express non-heterosexual orientations or suggest that they are “normal.”
Persons: Vladimir Putin, Ostorozhno Novosti, Eyewitnesses, , Natalia Kolesnikova, Sota, , Milana Petrova –, ” Petrova, Alexey Khoroshy, Khoroshy, Putin Organizations: CNN — Police, Supreme, West, Russian Telegram, Ostorozhno, Sota, Police, Telegram, Central Station, Secret, Hunters Party, Getty, Central Station Club, CNN Locations: Russia, Moscow, St, Petersburg, Ostorozhno Novosti, St . Petersburg, Young, AFP, Russian, Ukraine falters
The woman in the video, her face blurred, gave a blunt assessment of Russian military policy: Soldiers mobilized over a year ago to fight in Ukraine deserved to come home. Why weren’t they? “Our mobilized became the best army in the world, but that doesn’t mean that this army should stay there to the last man,” she said. Women in various cities are seeking to stage public protests, challenging the official argument that mobilized troops are needed in combat indefinitely to secure their Russian homeland. Hand-lettered posters behind the speaker in the video echoed that sentiment with slogans like “Do only the mobilized have a homeland?” A video of the speech, delivered at a rally in the Siberian city of Novosibirsk on Nov. 19, was released online.
Persons: Locations: Ukraine, Russia, Russian, Siberian, Novosibirsk
The ceremony to honor a fallen Russian soldier went viral for all the wrong reasons. The musical faux pas last May in the eastern Russian town of Kyakhta, home to a prominent infantry brigade, soon rocketed around social media. If the incident was discordant in the extreme, it also accentuated the contradictions of Vladimir Putin’s war that are changing the face of garrison towns across Russia. The local cemetery is growing exponentially. The flood of newly purchased cars in Kyakhta telegraphs loss as much as prosperity — the money comes from large government payouts to families of the dead and grievously injured.
Persons: ” blaring, Vladimir Putin’s Organizations: telegraphs Locations: Russian, Ukraine, Kyakhta, Russia
Citigroup also convened a meeting of its managing directors on Wednesday, according to two sources familiar with the matter. Citigroup declined to comment on the memo, town hall and meeting with managing directors. Citi had 240,000 employees at the end of the second quarter. CONSULTATIONS IN THE UKThe bank is also beginning the consultations required in the UK after earlier warning employees about possible redundancies. In the second quarter, net income tumbled 36% to $2.92 billion, beating analyst expectations.
Persons: Sara Wechter, Jane Fraser, Fraser, Lananh Nguyen, Tatiana Bautzer, Saeed Azhar, Megan Davies, David Gregorio, Kirsten Donovan, Sonali Paul Organizations: Citigroup, Reuters, Bankers, Citi, Bank of America, Milana, Svea Herbst, Thomson Locations: Wells Fargo, London, New York, Svea
Oct 5 (Reuters) - Private equity firm General Atlantic LLC is exploring a sale of EngageSmart Inc (ESMT.N), a payments software vendor that has a market value of $3.3 billion, according to people familiar with the matter. Spokespeople for General Atlantic and Goldman Sachs declined to comment. EngageSmart software simplifies customer activities for companies such as paying a bill and going paperless. General Atlantic acquired a majority stake in the company, previously known as Invoice Cloud, in 2018. Summit Partners, a private equity firm that was already an investor in EngageSmart, retains an approximately 15% stake.
Persons: EngageSmart, Spokespeople, Goldman Sachs, Evercore, Milana Vinn, David Gregorio, Chris Reese Organizations: Atlantic LLC, EngageSmart Inc, Goldman Sachs Group Inc, Evercore Inc, General Atlantic, Summit Partners, Thomson Locations: New York, The Braintree , Massachusetts, EngageSmart
Overall, up to 300 employees may lose their positions in this round of layoffs across the bank, the sources added. Venkatakrishnan has been seeking to stabilize Barclays' investment banking franchise after a shakeup in the division's leadership in January led to an exodus of dozens of bankers. Barclays has also hired more than 30 investment bankers and promoted another 20 bankers in various positions since then. Barclays ranked 6th in LSEG's global investment banking league table for the first nine months of the year. Barclays warned in July that its profit margins were being squeezed by consumers repaying debt in the wake of high interest rates.
Persons: C.S, Venkatakrishnan, Morgan Stanley, Anirban Sen, Milana, Greg Roumeliotis, Nick Macfie 私 Organizations: Barclays Plc, Barclays, Goldman Sachs Group Inc Locations: San Francisco, New York
Pros, which has struggled to return to profitability, is being advised by investment bank Qatalyst Partners in its discussions with potential acquirers, the sources said. Many of the suitors are private equity firms whose offers Pros has rejected, the sources added. Pros shares jumped 13% on the news to $36.18 in early New York trading on Wednesday, giving the company a market value of $1.7 billion. Pros provides price optimization and revenue management software for companies in various sectors, including aviation. It reported subscription revenue of $57.3 million in the second quarter, up 14% year-over-year, with overall sales up 11% year-over-year to $75.8 million.
Persons: Brendan McDermid, Qatalyst, Milana Vinn, Anil D'Silva, Jane Merriman Organizations: Holdings, Inc, New York Stock Exchange, REUTERS, Qatalyst Partners, Wall, Thomson Locations: New York, U.S, Houston
Jefferies analysts wrote in a note the Federal Reserve putting the brakes on interest rate hikes has given acquirers more certainty around their funding costs, helping dealmaking. Cisco's deal valued Splunk at 7 times projected 12-month revenue, according to Jefferies. "We note that the typical security company with 20% growth trades at about 7 times (sales)," BTIG analysts wrote in a note last week. Private software companies may also be more receptive to takeovers. "A tidal wave of software M&A (is) on the horizon," Wedbush analysts wrote in a note last week.
Persons: Chuck Robbins, David Chen, Morgan Stanley, Chen, Jefferies, Keith Skirbe, Houlihan Lokey's, Milana Vinn, Anirban Sen, Anna Driver Organizations: Cisco Systems, Cisco, Crowdstrike Holdings, Microsoft, Adobe, Oracle, Francisco Partners, TPG Inc, Federal Reserve, IBM, Reuters Graphics Reuters, Jefferies, Thomson Locations: New York
Sept 22 (Reuters) - Deutsche Bank AG (DBKGn.DE) has hired Ainslee Withey, a Barclays (BARC.L) technology banker, as a managing director in its technology investment banking group for internet dealmaking, according to people familiar with the matter. Withey, who spent 15 years at Barclays and focused on internet investment banking, will be based in San Francisco and report to Deutsche's co-head of technology, media and telecoms (TMT) investment banking, Ajay Shah, the sources said, adding that she will start her new role in December. Deutsche declined to comment, while Barclays did not immediately respond to requests for comment. Withey started her investment banking career at Lehman Brothers in 2005 and joined Barclays three years later. In July, Deutsche hired 50 senior bankers in the origination and advisory business of its global investment bank.
Persons: Ainslee Withey, Deutsche's, Ajay Shah, Withey, Milana Vinn, Matthew Lewis Organizations: Deutsche Bank AG, Barclays, Deutsche, Lehman Brothers, Thomson Locations: San Francisco, Americas, New York
The investment would alleviate the financial burden for Coherent, which has said it will invest $1 billion over the next 10 years to expand its production of silicon carbide wafers, which help boost the range of electric vehicles more than chips made with traditional silicon. Denso Corp (6902.T), Hitachi Ltd (6501.T), Mitsubishi Electric Corp (6503.T) and Sumitomo Electric Industries Inc (5802.T) have held discussions about taking a minority stake in Coherent's silicon carbide business, the source said. Coherent may accept more than one of these companies as investors in the silicon carbide division at a valuation of between $4 billion and $5 billion, the source added, requesting anonymity because the matter is confidential. Coherent, which said in May it would explore options for its silicon carbide business, declined to comment. Chips made with silicon carbide are used in applications that require huge amounts of power conversion, such as inverters and drivetrains in electric vehicles.
Persons: Chips, Milana Vinn, Andrea Ricci Organizations: Denso Corp, Hitachi Ltd, Mitsubishi Electric Corp, Sumitomo Electric Industries Inc, Thomson Locations: U.S, Pittsburgh , Pennsylvania, China, New York
People enter a building before the annual shareholder meeting of Germany’s largest business bank, Deutsche Bank, in Frankfurt, Germany, May 23, 2019. REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsSept 22 (Reuters) - Deutsche Bank AG (DBKGn.DE) has hired Ainslee Withey, a Barclays (BARC.L) technology banker, as a managing director in its technology investment banking group for internet dealmaking, according to people familiar with the matter. Withey, who spent 15 years at Barclays and focused on internet investment banking, will be based in San Francisco and report to Deutsche's co-head of technology, media and telecoms (TMT) investment banking, Ajay Shah, the sources said, adding that she will start her new role in December. Withey started her investment banking career at Lehman Brothers in 2005 and joined Barclays three years later. In July, Deutsche hired 50 senior bankers in the origination and advisory business of its global investment bank.
Persons: Kai Pfaffenbach, Ainslee Withey, Deutsche's, Ajay Shah, Withey, Milana Vinn, Matthew Lewis Organizations: Deutsche Bank, REUTERS, Deutsche Bank AG, Barclays, Deutsche, Lehman Brothers, Thomson Locations: Frankfurt, Germany, San Francisco, Americas, New York
Based in Palo Alto, California, Tidal was started by technology bankers David Handler and David Neequaye. Their firm, which employs just two dozen people according to its website, was the sole financial adviser to Cisco, while larger investment banking peers Qatalyst Partners and Morgan Stanley (MS.N) advised Splunk. Tidal's win comes as more technology bankers decide to launch their own firm amid an overall slowdown in dealmaking in the sector. Three former Qatalyst Partners bankers launched a new technology-focused investment banking boutique called AXOM Partners earlier this week, Reuters reported. The group went on to advise other major technology companies including Cisco, Qualcomm Inc (QCOM.O) and Twilio Inc (TWLO.N).
Persons: Centerview Partners dealmakers, David Handler, David Neequaye, Qatalyst, Morgan Stanley, MS.N, Splunk, David, Handler, we've, Chuck Robbins, Tidal's, Neequaye, Centerview, Milana Vinn, Anirban Sen Organizations: Centerview Partners, Cisco Systems Inc, Splunk Inc, Cisco, Qatalyst Partners, AXOM Partners, Reuters, Qualcomm Inc, Twilio Inc, UBS Group AG, Thomson Locations: Palo Alto , California, New York
Sept 18 (Reuters) - Three former Qatalyst Partners bankers have formed a new investment banking boutique called AXOM Partners, which will focus on advising technology companies on mergers and acquisitions (M&A). Qatalyst, the investment bank the trio left behind, also specializes in technology deals and has the No. Most of Qatalysts's deals are worth more $1 billion, and Hightower, Bressers and Weiner will focus on deals that are smaller. Based in San Francisco, AXOM will seek to advise on deals in sectors, including enterprise software, consumer technology, e-commerce and financial technology. All AXOM employees will be rewarded on merit based on an incentive system, and will be allowed to participate in profit distributions, Hightower said.
Persons: Brandon Hightower, Alan Bressers, Ross Weiner, Hightower, Qatalyst, Bressers, Weiner, AXOM, NXP, Inphi Corp’s, Milana Vinn, Aurroa Ellis Organizations: Qatalyst Partners, AXOM Partners, Qatalyst, Expedia, Qualcomm Inc, Devices, Marvell Technology Inc, Technology, Thomson Locations: San Francisco, Qatalyst, New York
CCC shares jumped on the news in afterhours trading in New York on Friday, rising 8.6% to $12.50. Founded in 1980, CCC provides software to 35,0000 companies involved in automotive claims and collision repair, including insurance firms, parts suppliers and car manufacturers. Advent, which acquired CCC from private equity firms TPG Inc (TPG.O) and Leonard Green & Partners in 2017, took CCC public through a merger with a blank-check company in 2021 at a $6.5 billion equity valuation. CCC shares have risen 32% year-to-date, more than the broader market but less than the S&P 500 software application index, which has risen 43%. CCC suffered from a drop in car insurance claims during the COVID-19 pandemic but has since seen business gradually recover.
Persons: Morgan Stanley, Leonard Green, Milana Vinn, Diane Craft Organizations: Intelligent Solutions Holdings Inc, Investment, TPG Inc, Leonard Green & Partners, CCC, Thomson Locations: New York
REUTERS/Lucas Jackson/File Photo Acquire Licensing RightsSept 7 (Reuters) - The private equity owners of EagleView Technologies are exploring a sale of the provider of aerial imagery and data analytics services that could value it at about $2 billion, including debt, according to people familiar with the matter. EagleView generates about $300 million in revenue and 12-month earnings before interest, taxes, depreciation, and amortization (EBITDA) of $165 million, the sources said. In 2018, Clearlake bought a significant stake from Vista, becoming an equal owner in EagleView. Bellevue, Washington-based EagleView Technologies is a provider of software that can be used to measure rooftops with satellite images from the sky, mainly used by insurance companies to make more accurate decisions. The company is utilizing a vast library of images and its patented 3-D measurement software to provide software tools to customers in industries such as insurance, construction, government and public utilities.
Persons: Lucas Jackson, William Blair, Rothschild, EagleView, Vista, Clearlake, Milana Vinn, Marguerita Choy Organizations: New York Fire Department, FDNY, FDNY's, Center, REUTERS, EagleView Technologies, Vista Equity Partners, Clearlake, Co, Vista, Technologies, Thomson Locations: New York, EagleView, Vista, EagleView . Bellevue , Washington
NEW YORK, Sept 7 (Reuters) - Broadcast services provider NEP Group Inc, owned by private equity firm Carlyle Group Inc (CG.O), is exploring a sale of its live events business that could fetch nearly $2 billion, according to people familiar with the matter. The live events unit provides audiovisual solutions at concerts, corporate events, and music tours. NEP operates another events business that focuses on online and television broadcast services, which the sources said it plans to keep. The unit offers production services that enable the broadcasting of live sports, festivals and other events. NEP also offers outdoor broadcast services, studio production, audio and lighting solutions, and media management services.
Persons: Carlyle, Milana Vinn, Anirban Sen, Gerry Doyle Organizations: Inc, Carlyle Group Inc, National Football League, Crestview Partners, Thomson Locations: Pittsburg , Pennsylvania, New York
Its shares had lost almost half their value in the last 12 months prior to news of its exploring a sale. The Irvine, California-based company is being advised by investment bank Qatalyst Partners on its discussions with potential acquirers, which include private equity firms, the sources said. Alteryx shares ended trading on Wednesday up 14% on the news at $34.58. In recent years, Alteryx has transitioned to a subscription-focused business model as part of a strategy to tap into growing demand for data analytics services. In its most recent quarter, Alteryx posted a net loss of $120 million due to higher sales and marketing expenses.
Persons: Alteryx, Dean Stoecker, Qatalyst, Milana Vinn, Nick Zieminski, Stephen Coates Organizations: Alteryx, Microsoft Corp, Oracle Corp, Qatalyst Partners, Insight Partners, Cola, Vodafone Plc, Walmart Inc, Ford Motor Company, North America, Thomson Locations: Irvine , California, Alteryx, New York
A Barclays bank building is seen at Canary Wharf in London, Britain May 17, 2017. Barclays distributed a presentation on its domestic merchant acquiring unit to potential bidders - mainly specialist payments providers - over the summer, two of the people said, but plans may still be altered or dropped entirely. Our businesses continue to perform well and growing our global payments business is a priority for us." The group drafted in consultants to prepare separate financials for its domestic merchant acquiring operation in an initiative known internally as Project Hyperion, one of the people said. Barclays is also gauging interest in its German consumer finance operations, known as Barclaycard Germany.
Persons: Stefan Wermuth, Sanpaolo, Amy, Jo Crowley, Pablo Mayo, Milana, Lawrence White, Elisa Martinuzzi, Susan Fenton Organizations: Barclays, REUTERS, Barclays Plc, Reuters, Chief, CS Venkatakrishnan, Spain's Banco Sabadell, Italy's, Pablo Mayo Cerqueiro, Thomson Locations: London, Britain, Germany, New York
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