Liana's Feed
Sep 4, 2015

Bertelsmann nears investment in HotChalk: sources

By Liana B. Baker

(Reuters) – Bertelsmann SE & Co KGgA, Europe’s largest media group, is close to acquiring a minority stake in learning technology firm HotChalk, according to people familiar with the matter, as the educational technology sector continues to grow.

Bertelsmann is leading a funding round that could value the Campbell, California-based company at $600 million to $800 million, the people said this week. Bertelsmann may use one of its subsidiaries for the investment, which is still under negotiation, the people added.

Sep 3, 2015

Qualcomm president says splitting company may not create value

NEW YORK (Reuters) – Qualcomm Inc’s President Derek Aberle, under pressure from activist hedge fund Jana Partners to improve the licensing and chip design firm’s stock performance, on Thursday sounded a cautionary note about a potential breakup of the company.

Stressing that the board and management do not expect to complete a review of a possible split until the end of the year, Aberle told Reuters that Qualcomm agrees with Jana that its stock is undervalued. Shares have fallen 25 percent over the past 12 months, whereas the S&P 500 is down 2.25 percent.

Sep 2, 2015

HP seeks to sell cyber security unit TippingPoint: sources

By Liana B. Baker and Greg Roumeliotis

(Reuters) – Hewlett-Packard Co (HPQ.N: Quote, Profile, Research, Stock Buzz) is exploring a sale of computer network security solutions unit TippingPoint ahead of a corporate split later this year, according to people familiar with the matter.

Private equity firms have expressed interest in TippingPoint, the people said this week. The unit could be valued at between $200 million to $300 million, the people added.

Sep 1, 2015

McGraw-Hill Education hires underwriters for IPO: sources

By Liana B. Baker and Greg Roumeliotis

(Reuters) – McGraw-Hill Education is pressing ahead with plans to go public and has hired underwriters to assist in an initial public offering valuing the company between $5 billion and $6 billion, including debt, according to people familiar with the matter.

The company’s owner, private equity firm Apollo Global Management LLC (APO.N: Quote, Profile, Research, Stock Buzz), has tapped Credit Suisse Group AG (CSGN.VX: Quote, Profile, Research, Stock Buzz) and Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) to lead the offering.

Aug 26, 2015

Education startup HotChalk in talks to raise new funding -sources

Aug 26 (Reuters) – HotChalk, an educational technology
startup, is in talks to raise at least $75 million from private
investors, valuing the company at roughly $500 million to $800
million, according to people familiar with the matter.

The company, which helps universities and colleges create
online degree programs, has hired CitiGroup Inc to assist
with the fundraising, said the people, who asked not to be named
because the matter is private.

Aug 13, 2015

Education software firm Instructure prepares for IPO: sources

By Liana B. Baker

(Reuters) – Instructure is planning an initial public offering later this year that could value the education software company at $500 million to $800 million, according to people familiar with the matter.

Instructure, based in Salt Lake City, has hired Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) and Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) to help prepare for the IPO, which has been filed confidentially, the people said. They requested anonymity because the news of the IPO was not public.

Aug 12, 2015

Exclusive: TPG close to $3.5 billion deal to buy Ellucian – sources

By Liana B. Baker and Greg Roumeliotis

(Reuters) – Buyout firm TPG Capital LP is in advanced talks to acquire Ellucian Company LP, in a deal that could value the U.S. provider of software to universities and colleges at $3.5 billion, including debt, people familiar with the matter said.

Ellucian’s owners, private equity firms Hellman & Friedman LLC and JMI Equity, are in the final stages of negotiating the deal with TPG after running an auction for the company, the people said on Wednesday, cautioning that the talks could still fall through. If the negotiations are successful, a deal could be announced later this month, the people added.

Aug 12, 2015

TPG close to $3.5 billion deal to buy Ellucian-sources

Aug 12 (Reuters) – Buyout firm TPG Capital LP is in advanced
talks to acquire Ellucian Company LP, in a deal that could value
the U.S. provider of software to universities and colleges at
$3.5 billion, including debt, people familiar with the matter
said.

Ellucian’s owners, private equity firms Hellman & Friedman
LLC and JMI Equity, are in the final stages of negotiating the
deal with TPG after running an auction for the company, the
people said on Wednesday, cautioning that the talks could still
fall through. If the negotiations are successful, a deal could
be announced later this month, the people added.

Aug 6, 2015

Exclusive: China’s Dalian Wanda in talks to buy Ironman parent -source

By Liana B. Baker

(Reuters) – Chinese property and investment firm Dalian Wanda Group is in exclusive talks to acquire World Triathlon Corp, the U.S. owner of the popular Ironman Triathlon franchise, for more than $850 million, according to a person familiar with the matter.

The potential deal underscores China’s increasing appetite for U.S. media assets. Live events and sports brands are some of the most attractive and fast-growing areas of the media industry.

Aug 6, 2015

Exclusive: Witkoff in the lead to buy the New York Daily News – sources

By Liana B. Baker

(Reuters) – Real estate tycoon Steven Witkoff is in the lead to acquire the New York Daily News, prevailing over other high-profile bidders in an auction for the struggling tabloid newspaper, according to people familiar with the matter.

Witkoff is in negotiations with the newspaper’s owner, media and property mogul Mort Zuckerman, about a deal that remains far from certain given the New York Daily News’ declining readership and growing liabilities, the people said this week.