Archives: Transactions

SAN JOSE, Calif. –  Cisco today announced it has completed its acquisition of privately-held Pari Networks, a leading provider of network configuration and change management (NCCM) and compliance management solutions that will complement Cisco’s smart service capabilities. Based in Milpitas, Calif., with part of its employee base in Hyderabad, India, Pari Networks’ technology will integrate into Cisco’s smart services and help accelerate the ability of Cisco and its partners to manage the health and stability of customer networks through proactive, personalized services.

In addition to advanced technology, Pari Networks brings to Cisco an industry-leading team of engineers that will continue to build out and strengthen Cisco’s smart service capabilities.  Cisco and its partners have been evolving service offerings from reactive to proactive by embedding smart service capabilities throughout professional and technical services.

Financial terms of the transaction are undisclosed. With the close of the acquisition, Pari Networks employees become part of Cisco’s Technical Services.

IdentityTruth® Products, Customers, Intellectual Property And Employees Come With Transaction

AUSTIN, Texas – CSIdentity Corporation, the industry’s leading provider of wholesale identity theft protection and fraud detection solutions, has successfully completed its acquisition of IdentityTruth, Inc., a privately-held company based in Waltham, Massachusetts. The acquisition complements CSIdentity’s industry leading product and service offerings by adding the IdentityTruth® proprietary technology and analytics to its product set.

“Our clients and business partners have to constantly stay ahead of the evolving challenges posed by identity theft and fraud,” said Joe C. Ross, president of CSIdentity. “IdentityTruth’s powerful identity theft scoring and prediction technology bolsters our market-leading product portfolio and keeps us at pace with the growing demand for new and innovative identity theft protection solutions.”

Transaction Details

CSIdentity funded the acquisition of IdentityTruth® with cash from existing profits and funds from Investcorp Technology Partners, its anchor investor. “IdentityTruth represents a logical extension of CSIdentity’s product portfolio and will make a significant contribution to the high growth trajectory CSIdentity is operating on,” said Alex Guira, co-head of Investcorp Technology Partners.

CSIdentity now employs more than 80 employees in Austin, Texas, San Diego, California and Waltham, Massachusetts and has a growing technology and patent portfolio unmatched by other identity theft solution providers.

Boston Meridian served as the financial advisor to IdentityTruth®.

Growing Demand

According to 2010 studies, over 11 million Americans, including many children, have had their identities stolen. Studies have shown that 88 percent of global organizations have had a data breach, with one to three breaches occurring daily. U.S. related losses due to identity theft and fraud are estimated to be over $54 billion.

The acquisition of IdentityTruth® responds to growing demand and propels CSIdentity into a clear market leadership position in the wholesale identity theft protection and fraud detection industry.

 

Enhanced Product Portfolio

The company’s comprehensive suite of identity theft solutions targets all aspects of identity theft and fraud through products including:

• Identity Monitoring – credit and non-credit reports, scores and alerts

• Breach – security breach services ranging from discovery to resolution

• Restoration – full service identity theft restoration services including limited power of attorney

• Platform Solutions – end to end private labeled identity theft protection platform solutions

• VoiceVerified®, a patented voice biometric identity verification system

IdentityTruth’s® Identity HealthScore adds to this suite of valuable solutions by providing a dynamic method of gauging individual risk for identity theft or fraud. IdentityTruth’s® proprietary system constantly receives and analyzes data from multiple sources to build a complete identity profile for an individual. Sophisticated fraud detection algorithms then evaluate a person’s risk for fraud schemes and reports suspicious activity such as an unrecognized address or a newly issued phone number.

All of the company’s solutions are sold on a wholesale basis through CSIdentity’s proprietary platforms to other businesses in the identity theft space and other key vertical markets.

About CSIdentity Corporation

CSIdentity is the technology leader in delivering, on a wholesale basis, Identity Theft Protection, Fraud Detection, Voice Biometrics, ID Verification, and Data Breach Management and Restoration Services. The company offers a comprehensive suite of business and personal security solutions targeting all aspects of identity theft. Products include full-service identity theft protection and fraud detection services, identity monitoring and alerts, voice biometrics, comprehensive background screenings, and pro-active breach management services from pre-planning, discovery and restoration.

Financial Advisory & Valuation Services

Series A Round to Fuel and Support Growth for Leader in Intelligent Automation Software for Cloud, Data Center and HPC Environments

Provo, Utah—Adaptive Computing, the company behind theMoab® unified automation intelligence technology, today announced the completion of its Series A round of financing, securing $14 million from Intel Capital, which served as the lead investor, Tudor Ventures and EPIC Ventures.  Adaptive Computing’s initial round of funding, after nine years of consistent profitable growth as a company, will be used to further accelerate the company’s ability to meet the rapid increase in customer demand for cloud automation intelligence.

“As cloud computing demand has continued explosive growth, Adaptive Computing and its partners have applied Moab’s unique competitive advantage of upgrading static self-service cloud projects to rich self-optimizing or intelligent workload-driven clouds,” said Michael Jackson, COO and president of Adaptive Computing. “With an established global customer base and a cloud pipeline filled with opportunity, the new funding will enable the company to increase headcount and expand operations to meet the growing global demand.”

Adaptive Computing’s solutions, powered by Moab, deliver intelligent governance that allows customers to optimally consolidate and virtualize resources, allocate and manage applications, improve service levels, and reduce operational costs. Since Adaptive Computing’s founding in 2001 (as Cluster Resources Inc.), the company’s Moab products have managed the world’s largest computing installations and are the preferred intelligent automation solutions for the leading global data center vendors.

“Adaptive Computing’s solutions are well-positioned to play an important role upgrading enterprise data centers to intelligent, self-optimizing cloud environments,” said Steve Eichenlaub, managing director of Intel Capital. “Our investment in Adaptive Computing is consistent with Intel Capital’s belief that intelligent policy management will play a critical role in the next phase of cloud automation.”

“We are excited to work closely with Adaptive Computing to realize the tremendous opportunity in front of them. Cloud computing is a natural extension of the virtualization wave that is rapidly transforming enterprise data centers, and Adaptive Computing’s Moab product is a clear leader in intelligent cloud management software as evidenced by significant customer wins and its deep reseller and OEM partnerships,” said Jon Danielson of Tudor Ventures.

“While the first wave of cloud computing has been centered on virtualization, the next wave of managing the complexity of cloud-based workloads and resources is a much bigger problem to solve,” said Chris Stone, managing director of EPIC Ventures. “Adaptive Computing is the solution to taming this complexity, and we at EPIC Ventures are pleased to have the opportunity to make it a standard in the cloud computing market.”

About Adaptive Computing

Adaptive Computing provides intelligent automation software for HPC, data center and cloud environments. The company’s infrastructure intelligence solutions, powered by Moab®, deliver policy-based governance, allowing customers to consolidate and virtualize resources, allocate and manage applications, optimize service levels and reduce operational costs. Adaptive Computing products manage the world’s largest computing installations and are the preferred intelligent automation solutions for the leading global HPC and data center vendors. For more information, call Adaptive Computing at (801) 717-3700 or visit www.adaptivecomputing.com.

About Intel Capital

Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$9.5 billion in over 1,050 companies in 47 countries. In that timeframe, 175 portfolio companies have gone public on various exchanges around the world and 241 were acquired or participated in a merger. In 2009, Intel Capital invested US$327 million in 107 investments with approximately 50 percent of funds invested outside the United States and Canada. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com

About Tudor Ventures

Tudor Ventures is the venture capital and private equity arm of Tudor Investment Corporation, an internationally recognized, diversified investment management firm. Tudor Ventures provides growth capital to later-stage technology and services companies. For more information, please visit www.tudorventures.com.

EPIC Ventures

Founded by Zions Bank in Salt Lake City in 1994, EPIC Ventures is a premier venture firm focused on early stage technology investments in internet infrastructure, software, cloud and mobile services. With over $250m under management, EPIC helps to create companies, not just fund them. EPIC’s Fund IV is actively investing in creating the country’s future information economy. For more information, please visit www.epicvc.com.

Ra’anana, Israel and New York, NY — Boston Meridian is pleased to announce the acquisition of Syfact International, B.V. by NICE Systems (NASDAQ: NICE) and Actimize, a NICE Systems Company.

Syfact is a pioneer of enterprise investigative case management solutions and their expertise, technology and best practices will help Actimize customers further improve investigative operations, increase compliance with regulations and reduce overall operational costs. The acquisition also enhances the joint company’s footprint and competitive position, providing immediate benefits for both Actimize and Syfact customers. Actimize intends to continue supporting current product installations and increase investment in Syfact’s product support program.

About Actimize:

Mitigating transactional risk across enterprise silos, Actimize is a leading provider of software solutions for anti-money laundering, brokerage compliance and fraud prevention. Built on a patented, scalable and extensible analytics platform, Actimize solutions enable financial institutions to increase their insight into real-time customer behavior and improve risk and compliance performance. Actimize technology processes billions of transactions a day for many of the world’s top banks and brokerages. Actimize, a NICE Systems company, has offices in New York, Israel, London and Tokyo.
About Syfact:

Syfact, headquartered in Europe with offices in North America, has been used by many of the world’s largest and most respected corporations, government agencies and financial institutions including, among others, ING and Rabobank. They are a leading global provider of investigative case management solutions, best practices, and technologies. Through deep industry knowledge, extensive experience, and leading-edge technologies, Syfact employs a holistic, best practices approach, delivering best-of-breed investigative solutions in the areas of compliance, complex fraud, money laundering, customer due diligence, and corporate security investigations.

Scottsdale, AZ – Boston Meridian is pleased to announce the sale of Cypress Golf Solutions to Comcast. Cypress is the leading online network of golfers with access to th elargest selection of discounted tee times in the United States.

Through its customer websites, proprietary consumer brand, GolfNow.com and corporate partner sites, the company serves millions of page views and attracts thousands of unique users per month.

Since our inception in 2003, Boston Meridian has advised on deals aggregating over $500 million in total deal volume, with an average transaction size of over $50 million.

We have brought the highest quality offers to the table for our clients from leading companies around the world.

Lexington, MA – The Watermill Group announced today that it has acquired C&M Technologies Group, Inc. d.b.a. C&M Corporation (“C&M”), a leading manufacturer of custom cable, coil cords and cable assemblies. With manufacturing capabilities in the United States and Mexico, C&M is well positioned as a top supplier of specialized cabling solutions to Fortune 500 companies in the industrial, medical, defense, multimedia, datacom and data collection industries.

Headquartered in Wauregan, Connecticut, C&M has transformed from a wire salvage business in its formative years into a premier manufacturer of high performance cable products. William Mueller, Chief Executive Officer of C&M, will continue to lead the management team.

“This transaction marks an important milestone in the development of the firm,” said Mueller. “Founded in 1964 by my father, Warren Mueller, C&M has experienced significant growth under our stewardship and is well positioned in the current marketplace. We are confident that the partnership with Watermill Group will be a great asset in supporting our management team and further increasing the level of service and value provided to our customers.”

Timothy Eburne, Partner at The Watermill Group, added “C&M has been manufacturing customized cabling solutions for leading OEM technology companies for four decades. We look forward to partnering with management and the employees to further improve operating performance at C&M and implement a successful growth strategy for the future.”

Steven Karol, Founder and Managing Partner of The Watermill Group, said “We are excited about the addition of C&M to our investment portfolio. The company’s strength of engineering and component design in the manufacturing of custom cable and cable assemblies provide a strong value proposition to its customers.”

About The Watermill Group

For nearly three decades, The Watermill Group has been partnering with management teams to transform and build great companies. By combining customized transaction structures with the resources and expertise executives need to drive strategic and operating change, Watermill helps its portfolio management teams thrive, to generate extraordinary returns for all stakeholders. Watermill partners have over 165 years of combined experience with extensive expertise in a wide variety of industries. We focus on investing in companies where there is the opportunity to enhance performance through strategic change, operating improvements, or balance sheet realignments.

C&M Corporation

C&M Corporation is a vertically integrated manufacturer of custom cable, coil cords and cable assemblies. As a worldwide, RoHS compliant cable and cable assembly manufacturer of advanced power and signal transmission cable solutions, C&M employs the most current processes for lean manufacturing and cycle time reduction to deliver superior cost-competitive cables and cable assemblies faster than anyone else in the industry.

Financial Advisory & Valuation Services

NEEDHAM, MA – PTC (Nasdaq: PMTC), the Product Development Company (TM), today announced it has signed a definitive agreement to acquire Mathsoft Engineering & Education, Inc. (Mathsoft) for $63.25 million in cash. Mathsoft is the provider of Mathcad(R), software that helps engineering calculations critical to the product development process, as well as other mathematics-driven processes. With annual revenue of approximately $20 million and over 250,000 professional users worldwide, Mathcad is the industry standard for authoring and documenting engineering calculations in industries such as discrete and process manufacturing, architecture, engineering and construction, government and education. With this acquisition, PTC will expand its computer-aided design, manufacturing and engineering (CAD/CAM/CAE) solutions with unique predictive engineering capabilities that will help customers deliver optimized products sooner, with higher quality and improved knowledge capture. The acquisition, which is subject to regulatory approval and other customary closing conditions, is expected to close in early May.

“Mathsoft will be an important addition to PTC, as it will expand both our product offering and our addressable market,” said C. Richard Harrison, president and chief executive officer of PTC. “CAE is one of the faster-growing segments of the product lifecycle management market. PTC is staking out a unique position within this market segment by arming engineers with tools used upfront in the engineering process. This approach delivers greater value to customers because it helps optimize the entire engineering process.”

Mathsoft’s approach to CAE, which helps predict engineering parameters before design begins, will enable customers to optimize designs and will complement PTC’s existing structural, thermal, fatigue and mechanism analysis solutions used to validate Pro/ENGINEER(R) designs.

“Calculations are at the heart of engineering, driving critical decisions that determine competitive advantage,” said Chris Randles, chairman, president and chief executive officer of Mathsoft. “Today, many organizations still perform and manage engineering calculation work by hand, on calculators, in spreadsheets, or with programming languages. These outdated methods put critical intellectual property at risk, limit information reuse and can create confusion. With Mathsoft solutions, engineering organizations are documenting their engineering work as they go, creating, capturing and sharing critical calculations to leverage and enhance engineering and product development processes.”

Computer-aided design solutions are excellent for documenting design geometry, but without an understanding of the underlying calculations that drive critical parameters, they do not completely capture engineering intent. By complementing and extending PTC solutions with those from Mathsoft, PTC will be the first company to address this customer challenge to improve product quality, knowledge reuse and traceability of engineering calculations and turn them into corporate assets. This is particularly important for organizations with development processes that are complex, global, highly regulated, or those whose critical calculation knowledge base resides solely with individual engineers.

PTC and Mathsoft share over 900 customers. Vetco International, a leading supplier of products and services to the upstream oil and gas industry, uses solutions from PTC and Mathsoft to help bring innovative products to market. “In the upstream oil and gas business, delivering products with a strong focus on quality and reliability is of the utmost importance,” said Paul Krueger, vice president and chief information officer of Vetco International. “We use both Pro/ENGINEER and Mathcad to help us design and develop these products. One of the key benefits of this acquisition will be the integration of Mathcad into the PTC suite of products, as it will help us further optimize and improve key engineering processes across our product lifecycle.”

Once the acquisition closes, customers will continue to be able to leverage Mathcad as a stand-alone solution, or as an integral part of PTC’s Product Development System. Calculations authored and documented in Mathcad can predict critical parameters that will drive Pro/ENGINEER designs. Similarly, Pro/ENGINEER parameters can be fed into Mathcad to perform supplementary engineering calculations. Designs driven with Mathcad can then be validated using Pro/ENGINEER Mechanica(R) or other CAE applications. Additionally, institutional knowledge captured in XML-based Mathcad documents can be managed, cross-referenced, configuration controlled and reused via Windchill(R). Finally, technical documents become richer and deliver greater value when calculations, text and images are assembled and published dynamically with Arbortext.

“The powerful combination of Mathsoft and PTC solutions will significantly reduce the number of iterations and physical prototypes necessary to achieve product confidence, and also will improve an organization’s ability to capture and reuse information for a variety of downstream uses,” said Jim Heppelmann, executive vice president and chief product officer of PTC. “PTC is also dedicated to supporting Mathsoft customers in industries outside of PTC’s traditional customer base by delivering the value from Mathsoft solutions necessary for their continued success. PTC has a proven track record of working with multiple vendors to support system openness and heterogeneity to benefit our customers.”

“Mathcad is a strategic engineering design and analysis tool for us,” said Andre Pavlov, assistant state structural design engineer for the Florida Department of Transportation. “We are delighted to see that Mathsoft’s market leadership has been recognized by such a large and well-known leader in engineering design and development software. We expect that the combination of Mathsoft’s ingenuity and PTC’s strength and scale will benefit users of Mathcad in all areas of engineering.”

Based in Cambridge, Massachusetts, Mathsoft has 130 employees in seven countries including the United States, United Kingdom, Germany and Japan. In addition, Mathcad is sold and supported in more than 50 countries through the Mathsoft international distributor network. The transaction has been approved by the requisite vote of Mathsoft shareholders, including its largest investor, Edison Venture Fund.

PTC will discuss this acquisition on its second quarter financial results conference call on Wednesday, April 26, 2006 at 10:00 a.m. ET. The webcast will be available on the Company’s web site at www.ptc.com/for/investors.htm. To access the live call, please dial 888-566-8560 (in the U.S.) or +1-517-623-4768 (international). Please use passcode PTC. A replay of the call will be available until 5:00 p.m. ET on May 1, 2006. To access the replay via webcast, please visit www.ptc.com/for/investors.htm. To access the replay by phone, please dial 203-369-1121. Accompanying presentation materials will be available at PTC’s website at www.ptc.com/for/investors.htm.

About Mathsoft Engineering & Education, Inc.

Mathsoft Engineering & Education, Inc. pioneered calculation management solutions that protect engineering innovation, investments and intellectual capital while improving organizational efficiency and productivity. Mathsoft software is the internationally recognized standard for technical calculations and applied mathematics. Ninety percent of Fortune 1000 companies, 500 government agencies and 2,000 colleges and universities around the world use Mathsoft to capture the strategic value in their engineering calculations. More information on Cambridge, Mass.-based Mathsoft is available at www.mathsoft.com.

About PTC

PTC provides leading product lifecycle management (PLM), content management and dynamic publishing solutions to more than 40,000 companies worldwide. PTC customers include the world’s most innovative companies in manufacturing, publishing, services, government and life sciences industries. PTC is included in the S&P 500 and Russell 2000 indices. For more information on PTC, please visit http://www.ptc.com.

Statements in this press release that are not historic facts, including statements about expanding PTC’s addressable markets through the acquisition of Mathsoft, the future integration and support of PTC and Mathsoft products and growth in the CAE market, are forward looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. Those risks and uncertainties include the following: PTC’s acquisition of Mathsoft remains subject to regulatory approval and other customary closing conditions and there is a risk that the transaction may not be completed; we may be unable to successfully develop the technology necessary to integrate Mathsoft’s Mathcad product with PTC products; the market for, and customer adoption of, calculation solutions may not grow as quickly as we expect; we may be unable to retain and maintain relationships with key employees, distributors, customers and other strategic partners of Mathsoft, including those within markets and vertical industries with which PTC has little experience; we may be unable to adequately support multiple solutions acquired through strategic business development initiatives in industries outside of PTC’s traditional customer base as well as other risks and uncertainties detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including PTC’s most recent reports on Form 10-K and 10-Q.

PTC and its logo, The Product Development Company, Pro/ENGINEER, Windchill, Arbortext, and all PTC product names and logos are trademarks or registered trademarks of Parametric Technology Corporation or its subsidiaries in the United States and in other countries. Mathsoft and Mathcad are registered trademarks of Mathsoft Engineering & Education, Inc.