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☆ Ken Griffin has built two of Wall Street's most powerful firms. His next target could be influencing politics.
▼ + stars: | 2023-01-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

Ken Griffin, the founder and CEO of Citadel. It's good to be Ken Griffin. Plenty of people find success on Wall Street that most can only dream of. But Ken Griffin seems to be winning in ways that even his peers can't fathom. Click here to read more about Ken Griffin rise to the top of Wall Street and what could be next for the billionaire.

FRANKFURT, Jan 18 (Reuters) - Hellman & Friedman (H&F) is weighing options for its Italian cloud software maker TeamSystem, a business which could be valued at several billion euros, two people familiar with the matter told Reuters. Private equity investors are showing interest in TeamSystem, which may also attract sovereign wealth funds, they said. Hellman & Friedman acquired TeamSystem in 2016 and in 2021 moved the company from one of its funds to another. TeamSystem, which was founded in 1979, generated revenue of 545 million euros in 2021, while posting adjusted core earnings of around 235 million euros, according to company results on its website. While a decision on its valuation is still in flux, that could mean more than 6 billion euros including debt, the person said.

☆ Check out the exclusive pitch deck that school-to-student matching startup Schola used to raise $10 million in funding
▼ + stars: | 2023-01-17 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +3 min

Schola is an online guide and marketplace for students to match with different PK-12 schools. Students can learn about and even apply to various public, private, and charter schools on the platform. Schola has launched in all 50 states and just raised $10 million in Series A funding. Schools can simultaneously use the platform as a way to increase their enrollment reach, and can pay for different-tiered recruitment campaigns or data analytic tools. Check out the 12-slide pitch deck that edtech startup Schola used to raise $10 million in Series A funding:

☆ Vista to take Duck Creek Technologies private in $2.6 bln deal
▼ + stars: | 2023-01-09 | by ( Manya Saini | ) www.reuters.com time to read: +2 min

Jan 9 (Reuters) - Duck Creek Technologies (DCT.O), which serves some of the biggest clients in the property and casualty sector, will be taken private by Vista Equity Partners in an all-cash deal valued at about $2.6 billion, the insurance tech firm said on Monday. The deal for Duck Creek at a purchase price of $19 per share, represents a premium of 46% to Duck Creek's last close. Duck Creek provides cloud-based property and casualty insurance solutions to its customers including Berkshire Hathaway Specialty Insurance and American International Group (AIG.N). Duck Creek expects the deal to close in the second-quarter of this year. J.P. Morgan is acting as financial advisor to Duck Creek.

☆ Stocks making the biggest moves midday: Tesla, Nvidia, Lululemon and more
▼ + stars: | 2023-01-09 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +4 min

Hong Kong, China, 13 Sept 2022, A red Tesla car passes in front of a Tesla dealership in Wanchai. Tesla – Shares of Tesla rose 8% Monday after CEO Elon Musk's attorneys on Saturday asked a California court to move a trial over the company stock to Texas, citing local negativity. Uber – Uber shares gained 5.2% on an upgrade from Piper Sandler to overweight from a neutral rating. Monolithic Power Systems – Shares of Monolithic Power Systems gained 6.4% amid the semiconductor rally, following shares of Nvidia and Advanced Micro Devices. Goldman Sachs – Shares gained 2% following reports that the banking giant is laying off 3,200 employees, or 6.5% of the workforce it had in October.

☆ Duck Creek Technologies surges more than 30% after reaching takeover deal with Vista
▼ + stars: | 2023-01-09 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

A person walks through the Wall Street subway station near the New York Stock Exchange (NYSE) in New York on May 27, 2022. Insurance tech company Duck Creek Technologies has reached a takeover deal with Vista Equity Partners, sending its stock soaring on Monday morning. Shares of Duck Creek surged more than 45% to hover just under the offer price in premarket trading. At its high watermark in February 2021, the Duck Creek closed above $59 per share. Duck Creek reported its fiscal first quarter results last week, showing revenue of $80.6 million and a net loss of $5.2 million.

☆ Experts say these 9 European digital-marketing companies could be top acquisition targets in 2023
▼ + stars: | 2022-12-30 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +2 min

Insider spoke to experts who identified nine European adtech companies ripe for acquisition. Private-equity firm Mayfair Equity Partners took a majority stake in UK-based adtech firm LoopMe in January. Given the strength of the dollar versus the euro and the pound, European companies may now be more affordable than in prior years. These characteristics make European companies attractive acquisition targets for US firms. Insider spoke to six experts — a mix of bankers, adtech insiders, VCs, and M&A advisors — who identified nine European digital marketing and adtech companies that are on the market or would be attractive targets.

☆ 'Sextortion' attacks on the rich and famous are on the rise. Here's how their lawyers discreetly fight back.
▼ + stars: | 2022-12-25 | by ( Laura Italiano | ) www.businessinsider.com time to read: +15 min

Celebrities, sports stars, CEOs have never been more at risk of 'sextortion' attacks, lawyers say. "I'm going to blow up you and your business," the screen read. "If you can't get me money," she texted the terrified CEO, according to records reviewed by Insider, "I'm going to fuck up your whole company." East Coast, West CoastHigh-end sextortions like the case of that Manhattan CEO, one of Saland and Weisberg's recent clients, are spawning a growing legal practice. It's different in ManhattanIn contrast, Manhattan sextortion clients tend to hail not from the A-list, but from the city's vast pool of the anonymously wealthy.

☆ Here are the 34 tech companies most likely to be snapped up by private equity firms like Vista and Thoma Bravo in 2023, according to bankers and market data
▼ + stars: | 2022-12-24 | by ( Ben Bergman | Stephanie Palazzolo | ) www.businessinsider.com time to read: +22 min

With a stock price down 45% in the last year, though, it may soon find itself on the other side of the table. But it has $732 million in cash on hand, with zero debt, and analysts are projecting 16% revenue growth. This year, though, Varonis has come back to earth — its stock price has sunk over 57% in the last 12 months. However, with strong projected 2023 revenue growth of 18.6%, Zuora remains a strong target for PE firms. Its stock price has been hammered, going down about 40% this year and making it the subject of mergers-and-acquisitions chatter.

☆ Mirae Asset Group to invest $72 mln in Space X in January 2023
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: 1 min

Pacific Equity Partners has pulled the plug on a deal to acquire Australia's ReadyTech Holdings , just a day after the private-equity firm withdrew its offer for the tech company to work on a new one. undefined ago

☆ The biggest media targets and buyers in 2023, as speculation swirls around Disney's next move under CEO Bob Iger and how Warner Bros. Discovery can shed debt
▼ + stars: | 2022-12-19 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

Continued pressure to get bigger has big media companies in Hollywood looking to scale up. Media bankers and investors predicted to Insider that dealmaking will rebound in 2023 as companies big and small size up their options for possible tie-ups. Pressure on big media companies to get bigger hasn't gone away. Apple: Could eye a big content prizeTim Cook. Paramount's library could help a streaming company bulk up its content; Netflix for one has explored Paramount's studio business before.

☆ Here are the 34 tech companies most likely to be on the holiday shopping lists of private-equity firms after valuations plunged this year, according to bankers and private data
▼ + stars: | 2022-12-15 | by ( Ben Bergman | Stephanie Palazzolo | ) www.businessinsider.com time to read: +22 min

☆ America's lack of boardroom diversity isn't just a PR problem, it's a business problem that will make companies more vulnerable in a downturn
▼ + stars: | 2022-12-14 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +6 min

More than a dozen companies had no board members of color, according to the report, which relied on 2021 data. Along with a few partner organizations, Watts launched a program in August to help companies interview and select more board members from underrepresented backgrounds. Bessie Watts of Vista Equity Partners is working on a program to increase the pipeline of board members from underrepresented backgrounds. More CEOs are embracing not just the moral case for board diversity, but the business case, as well, Watts said. "We're able to meet and help support board members with valuable new insight."

☆ Thoma Bravo to buy Coupa Software for $6.15 billion amid tech slump
▼ + stars: | 2022-12-12 | by ( ) www.cnbc.com time to read: +2 min

Coupa Software said on Monday it will sell itself to private-equity major Thoma Bravo for $6.15 billion in cash, calling the deal the "optimal path forward" as broader economic uncertainty hammers technology stocks. "The transaction provides superior risk-adjusted value relative to the company's (Coupa's) standalone prospects," said Roger Siboni, an independent director at the software firm. Coupa Software, which went public in 2016, provides business-spend management software, which helps companies manage the purchase of goods and services. Qatalyst Partners and Freshfields Bruckhaus Deringer advised Coupa, while Goldman Sachs & Co, Piper Sandler, and Kirkland & Ellis were advisors to Thoma Bravo. Separately, Coupa reported a 17% rise in total revenue for the quarter ended Oct. 31 and a net loss of $84.1 million.

☆ Thoma Bravo to buy Coupa Software for $6.15 bln amid tech slump
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

Dec 12 (Reuters) - Coupa Software Inc (COUP.O) said on Monday it will sell itself to private equity major Thoma Bravo for $6.15 billion in cash, calling the deal the "optimal path forward" as broader economic uncertainty hammers technology stocks. Over the last two years, Thoma Bravo has acquired Ping Identity, Sophos, Proofpoint and Sailpoint Technologies. Coupa Software, which went public in 2016, provides business-spend management software, which helps companies manage the purchase of goods and services. Qatalyst Partners and Freshfields Bruckhaus Deringer advised Coupa, while Goldman Sachs & Co, Piper Sandler, and Kirkland & Ellis were advisors to Thoma Bravo. Separately, Coupa reported a 17% rise in total revenue for the quarter ended Oct. 31 and a net loss of $84.1 million.

☆ Billionaire Robert F. Smith's awkward James Bond-themed birthday bash featured strict security and port-a-potties — despite being held at his multimillion dollar mansion with 15 bathrooms
▼ + stars: | 2022-12-11 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

For his 60th birthday, billionaire Robert F. Smith's wife threw him a James Bond-themed party. Partygoers weren't pleased with the "massive security" and port-a-potties outside, according to the New York Post. "They frisked you when you came out of the bathroom," one guest told New York Post, suggesting it was in an effort to search for hidden cameras and other surveillance technology. Despite the home boasting 15 bathrooms, guests say they were asked to use port-a-potties placed outside during the five-hour long party. It wasn't a great party," the guest told the New York Post.

☆ Link’s M&A chain breaks into pieces Down Under
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Dec 8 (Reuters Breakingviews) - It’s hard to feel bad for well-compensated bankers but Link Administration’s (LNK.AX) M&A advisers at Macquarie (MQG.AX) and UBS (UBSG.S) need some Christmas cheer. On Thursday their client pulled the plug on negotiations for a partial takeover by Canada’s Dye & Durham (DND.TO), effectively accusing its suitor of dithering. Macquarie and UBS did manage Link’s sale of a slug of its 43% stake in mortgage-settlement company PEXA (PXA.AX) and may help distribute the remainder to shareholders. If Link offloads its troubled London unit, the slimmed-down company, worth perhaps A$800 million, could yet attract new interest. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ How Big Law fumbled its own Rooney rule on diversity
▼ + stars: | 2022-12-08 | by ( Elizabeth Olson | ) www.businessinsider.com time to read: +11 min

Several law firms adopted the Mansfield rule in 2017, which aims to increase diversity in leadership. It's effectively the NFL's two-decade-old Rooney rule: a requirement that nonwhite candidates be considered when teams hire for coaching and front-office jobs. Law firms followed professional football in 2017 with its version of the Rooney rule, called the Mansfield rule. At first, the Rooney rule seemed to catch on when teams started to hire more coaches of color and a dozen general managers of color when that position was added to the Rooney rule. "For the Rooney rule to work," he said, "there has to be a true commitment from the owners.

☆ SpaceX, Tesla, and Boring Company execs are helping Elon Musk at Twitter, records reveal
▼ + stars: | 2022-12-08 | by ( Lora Kolodny | ) www.cnbc.com time to read: +6 min

Ever since, he has enlisted high-ranking executives and engineers from his other businesses, including SpaceX, Tesla and The Boring Company, to help out at the social media company, according to internal records obtained by CNBC and conversations with recent Twitter employees. Musk has also enabled partners from investment firms who participated in the Twitter buyout access to work within the social media company. In his testimony, Musk characterized Tesla employees' work for him at Twitter as "just a voluntary thing." He also said: "This was sort of an after-hours, just if you're interested in evaluating the -- helping me evaluate Twitter engineering, that would be nice. In addition to Tesla employees, Musk has also enlisted execs and employees from SpaceX, the reusable rocket and satellite internet services company he founded in 2002, to help him at Twitter.

☆ HR software firm Globalization Partners, a rival to Softbank-backed Remote, cuts jobs and says impact is less than 10% of staff
▼ + stars: | 2022-12-06 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Boston-based Globalization Partners has laid off approximately 100 staff, Insider understands. Globalization Partners, a Boston-based HR and employment platform that rivals venture-backed upstarts like Remote, has cut jobs, with one source indicating around 100 staff have been impacted. Founded in 2012 by Nicole Sahin, Globalization Partners, or G-P, was valued at $4.2 billion after raising $200 million in funding from Vista Equity Partners in January 2022. HR companies enjoyed a pandemic boom through 2020 and 2021 as firms began experimenting with hybrid work, requiring new processes and platforms. Remote, a venture-backed rival to G-P, cut 10% of staff earlier this year, Insider reported.

☆ From Apple and Disney to Warner Bros. Discovery, here's the 2023 media deal outlook for Hollywood's biggest companies, according to 13 bankers and industry experts
▼ + stars: | 2022-12-06 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

☆ Crowdstrike Holdings warning sparks selloff in cybersecurity stocks
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

Nov 30 (Reuters) - A warning from Crowdstrike Holdings Inc (CRWD.O) that clients were cutting back on spending and delaying purchases due to an economic slowdown slammed cybersecurity stocks on Wednesday, inflicting fresh pain on the battered sector. "Increased macroeconomic headwinds elongated sales cycles with smaller customers and caused some larger customers to pursue multi-phase subscription start dates," Crowdstrike Chief Executive Officer George Kurtz said. The results are the latest in a series of dour reports from cybersecurity firms, whose business boomed during the pandemic but is now seeing a slowdown, making them a hot target for private equity buyouts. "Resilient, but not immune is a theme that will likely dominate the narrative during our October quarter-cohort earnings cycle," Piper Sandler analysts said. Still, some analysts see long-term benefits from the rising demand for cybersecurity as more businesses take to the web and high-profile hacks force companies to be more cautious.

☆ Cramer's lightning round: Crestwood Equity is a dynamite stock
▼ + stars: | 2022-11-30 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

The Williams Companies Inc : "Don't look, buy. Loading chart...Crestwood Equity Partners LP : "That is one dynamite stock. I do not want you to do a thing other than ride it." Loading chart...Biohaven Ltd: "It's the right thing to buy." Loading chart...Anavex Life Sciences Corp : "It is so speculative at a time when I really don't think that you want to be as speculative."

☆ Ben Affleck and Matt Damon just scored $100 million from RedBird Capital. Check out 15 more private equity players making big bets on Hollywood.
▼ + stars: | 2022-11-28 | by ( Elaine Low | Claire Atkinson | Madeline Berg | ) www.businessinsider.com time to read: +5 min

Private equity firms are investing heavily in film and TV companies, even amid a possible recession. Private equity accounted for 42% of deals over the last year vs. 24% in 2018, according to PwC. RedBird Capital just invested $100 million in Ben Affeck and Matt Damon's new production company, Artists Equity. And earlier that month, Swedish firm EQT invested in UTA, which makes the private equity player the largest outside shareholder of the talent agency. Insider's second annual list of the top private equity players in Hollywood highlights 16 firms, based on our reporting and conversations with investors and insiders.

☆ This software stock surged 37% last week, and analysts say it could rise by another 14%
▼ + stars: | 2022-11-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +1 min

Global stocks inched higher over the past week, but one stock stood out. That stock is U.S.-based software firm Coupa Software , which jumped nearly 37% over the week. Coupa was among only six global stocks under the MSCI World index to rise more than 10% over the week. Retailer Burlington Stores surged around 24% after last week's release of its third-quarter earnings. Its performance comes off per-share earnings and revenue beats reported in third-quarter earnings Tuesday.

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