Select Page
Avnet $AVT £691M Offer for Premier Farnell $PFL Outbids Daetwyler $DAE

Avnet $AVT £691M Offer for Premier Farnell $PFL Outbids Daetwyler $DAE

offer of £1.65 per share by Switzerland’s Daetwyler Holding AG (SWX: DAE) made in mid-June before the UK’s Brexit vote. Avnet’s buyout offer is taking advantage of the sharp decline of the British pound vis–à–vis the US dollar after the June 23 Brexit referendum. The move comes after other large recent foreign corporate buyouts of British companies after Brexit. Two weeks ago, Japanese telecommunications giant SoftBank Group Corp. (TYO: 9984) agreed to acquire Cambridge, UK-based ARM Holdings plc (LSE: ARM; NASDAQ: ARMH), whose microchips are used in the iPhone and more than 95% of all smartphones, for £24.3 billion ($32 billion). A week earlier, Chinese conglomerate Dalian Wanda‘s AMC Entertainment (NYSE: AMC), agreed to acquire London-based Odeon & UCI Cinemas Group, the largest theatre exhibitor in Europe, from private equity firm Terra Firma, in a deal valued at £921 million. “This acquisition will significantly strengthen Avnet’s digital footprint worldwide. The convergence of Premier Farnell’s innovative online services with Avnet’s world class supply chain will create customer service unparalleled in the industry,” said William Amelio, interim CEO of Avnet. Bank of America Merrill Lynch acted as financial advisor and Gibson Dunn & Crutcher LLP acted as legal counsel to Avnet in connection with this transaction. Avnet is one of the world’s largest global distributors of electronic components, computer and IT solutions, embedded technology and services, with revenues of $27.9 billion for the fiscal year 2015. The company was founded in New York in 1921, by Charles Avnet, a 33-year-old Russian immigrant, when he began buying surplus radio parts and reselling them. Premier Farnell is a global distributor of electronic components and related products delivering engineering solutions to the electronic system design community utilizing multi-channel sales and marketing resources. Headquartered in Leeds, United Kingdom, Premier Farnell sells half of the low-cost Raspberry Pi mini computers distributed worldwide’ In March 2016, Premier Farnell completed the sale of Akron Brass for an enterprise value of $224.2 million, representing 8.8x FY15 EBITDA. Premier Farnell reported revenues from continuing operations of £903.9 million for the fiscal year ended January 31, 2016. Premier Farnell withdrew its recommendation of the Daetwyler offer. Altdorf, Switzerland-based Daetwyler distributes more than 500,000 electronics products.]]>

Social Enterprise Platform Tracx Lands $18 Million in Series C Funding

Social Enterprise Platform Tracx Lands $18 Million in Series C Funding

Tracx Tracx[/caption] Social Enterprise Platform Tracx Lands $18 Million in Series C Funding 

NEW YORK, Feb. 2, 2015 /PRNewswire/ — Tracx, the global leader in social enterprise platforms for Fortune 1000 companies, today announced a $18 million growth-financing round led by Edison Partners. The funding round brings the company’s total investment since founding to $28 million and includes follow-on investment from Flybridge Capital, Mousse Partners, Klingenstein, and Fields & Co. Tracx will use the capital to accelerate its product, sales, and support staff, as well as fund the expansion of additional global offices. Ryan Ziegler, General Partner of Edison Partners has joined the Tracx board of directors. Tracx’s SaaS-based social enterprise technology provides companies with global scale, secured big data architecture, advanced intelligence, and management tools to connect with customers across social media venues. This new funding comes at a key moment in the company’s history, as Tracx has tripled the size of its staff while achieving consistent top-line growth year over year, since establishing a US presence in 2012. Fueled by strong tailwinds and cutting-edge technology, Tracx now maintains a blue-chip client base of more than 400 brands worldwide. Tracx is at the center of one of the greatest challenges experienced by today’s enterprises — the need for a social technology that can be used by all departments, not only to monitor the ecosystem surrounding a brand, product, or service, but to directly influence it. “Tracx’s raison d’etre has always been to help companies manage the real-time nature of social media by creating innovative solutions to the most complex problems companies face on a daily basis,” said Eran Gilad, Chief Executive Officer of Tracx. “Our significant growth over the course of 2014, both from a product and an organizational perspective, speaks to how well positioned we are for another groundbreaking year.” As companies continue to integrate social strategy into core initiatives, the market for social intelligence and engagement tools has matured to a point where the enterprise is no longer satisfied with feature-specific point solutions that deliver limited value on a department-by-department basis. Similar to the evolution of CRM platforms, companies require holistic technologies that scale across all departments and roles, deliver sophisticated intelligence, contain robust data management workflows, provide governance, and integrate into legacy infrastructure. Tracx is the only end-to-end big social platform, delivering enterprise-grade intelligence, engagement, and monetization in one unified solution. This approach best equips leading brands to handle the diversity and complexity of their social media challenges. “Edison Partners is a big believer in digital innovation and disruptions that address the inherent communication issues and CRM shortfalls in the modern enterprise,” states Ryan Ziegler, General Partner at Edison Partners. “Tracx is rapidly capturing market share because today’s brands understand the value of real-time actionable data for revenue, service and product initiatives. We’re pleased to be partnering with the company for this exciting next stage in their journey.” About Tracx Tracx is the next generation social enterprise platform that empowers brands to manage, monetize, and optimize their business. The technology refines and analyzes masses of data across all social channels, providing deep insights into customer, competitor, and influencer behaviors. It delivers the most relevant, high impact audiences and conversations by capturing a 360-degree view of activity around a brand, product, or ecosystem. With Tracx, companies obtain geographic, demographic, and psychographic insights to identify and target influencers, improve planning, enhance monitoring, and effectively focused engagement. Tracx is headquartered in New York City with offices in Tel Aviv and London. The world’s top brands rely on Tracx. About Edison Partners For 28 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey to becoming successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and interactive marketing industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases. The Edison portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Lawrenceville, NJ, New York, NY, McLean, VA and Cleveland, OH, manages $928 million in assets throughout the eastern United States.
]]>