Latest news with #PrivateEquity
Reuters
8 hours ago
- Business
- Reuters
Haveli Investments to buy AI database firm Couchbase for about $1.5 billion
June 20 (Reuters) - Haveli Investments will acquire Couchbase (BASE.O), opens new tab for about $1.5 billion, the companies said on Friday, as the private equity firm looks to capitalize on the artificial intelligence-focused database company's platform. Couchbase's shares, which have gained 21% this year, were up 29% in early trading following the news. The company's cloud-based database powers AI-related applications that need a flexible data model and easy scalability. Couchbase is part of a group of modern database companies — including MongoDB (MDB.O), opens new tab, Cockroach Labs, Snowflake (SNOW.N), opens new tab and Databricks — challenging legacy players such as Oracle (ORCL.N), opens new tab. New database technologies make it easier and faster to store, manage and use a large amount of unstructured data that modern AI systems require. Haveli Investments, founded by former Vista Equity Partners president Brian Sheth, will pay Couchbase shareholders $24.50 per share, which represents a premium of about 29% to the stock's last close price. The private equity firm has a 9.6% stake in Couchbase, according to data compiled by LSEG. It may engage with Couchbase's management or board to explore strategic options, including a potential merger, according to a March filing with the U.S. SEC. The agreement includes a go-shop period that ends on Monday, during which Couchbase can consider alternate offers.
Bloomberg
a day ago
- Business
- Bloomberg
A Decade On, Has Japan's Corporate Revolution Worked Too Well?
Japan wanted change in its corporate sector. It got it — for better or worse. A decade on from the introduction of the country's first Corporate Governance Code, there's so much M&A activity in Tokyo these days that it's tough to even keep track. From private equity to activist investors to consolidation among companies fearful they'll be targeted next, no acquisition seems beyond the pale.
Yahoo
4 days ago
- Business
- Yahoo
Mavenir Signs Debt Recapitalization Transaction to Drive Continued Growth
Transaction to strengthen Mavenir's balance sheet and support its strategic focus on its profitable Mobile Core segment Mavenir to refocus Open RAN investments on 4G and 5G software, will accelerate investment in AI Siris to be controlling shareholder with support from key existing Mavenir lenders RICHARDSON, Texas, June 16, 2025 (GLOBE NEWSWIRE) -- Mavenir, the cloud-native network infrastructure provider building the future of networks, and its existing investor Siris, a leading private equity firm focused on investing and driving value creation in technology companies, today announced that they have signed a comprehensive recapitalization with Mavenir's lenders. This transaction will meaningfully strengthen Mavenir's balance sheet by eliminating over $1.3 billion of existing indebtedness and securing $300 million of new senior financing, in addition to a smaller subordinated facility provided by Siris and participating lenders. With increased liquidity, a more stable capital structure and substantially reduced net leverage, Mavenir will be well-positioned for sustained growth and long-term success. The scale and structure of this financial transformation reflect the confidence and ongoing commitment of Siris and the lenders. With this enhanced financial foundation, Mavenir will be well-positioned to build on its industry-leading position in the Mobile Core development space. Siris will maintain its controlling ownership position in Mavenir and remain an active partner as Mavenir advances its vision of a cloud-native, AI-enabled network. 'We have been spearheading cloud transformation in Core and Open RAN. With a strengthened balance sheet and lower leverage, we are doubling down on our software expertise and domain knowledge to deliver a comprehensive, end-to-end, AI-native telco stack, setting Mavenir up for profitable growth in both Core and Open RAN. We are excited to leverage our Mobile Core leadership to accelerate software-driven network transformations for our customers around the world,' said Pardeep Kohli, President and CEO of Mavenir. 'This is a pivotal moment for our company,' said Hubert de Pesquidoux, Mavenir Executive Chair and Siris Executive Partner. 'By strengthening our capital structure, we will be better positioned to execute our strategy, invest in innovation, and deliver on our commitments. We are deeply grateful to all our stakeholders – our customers, partners, investors, and especially our employees – for their unwavering support and confidence throughout this process." 'Mavenir has been a powerful innovator throughout its existence, and we are proud to continue our long-standing partnership with them as they continue building upon their leading position in the software industry,' said Frank Baker, Co-Founder and Managing Partner of Siris. 'We look forward to supporting Mavenir during this next chapter of innovation and growth.' The transaction is expected to close in approximately four to six weeks. A Refined Investment Strategy As part of these broader efforts to position itself for growth, Mavenir will double down on its profitable Core segment, a suite of software applications focused on voice, messaging, video, and data services, while refining its Open RAN investments to prioritize software in 4G and 5G deployments. Mavenir will also maintain its Open RAN hardware IP and continue to support its existing customers to ensure maximum flexibility in the evolving Open RAN landscape. This strategic decision will ensure Mavenir is best positioned to deliver even more innovative products and programs to its global customer base while remaining at the forefront of the Open RAN ecosystem. Mavenir will also accelerate investment in AI capabilities across its Mobile Core and Open RAN businesses to drive autonomous networks, deliver AI-native solutions, and unlock new revenue streams through AI-based solutions. This strategic focus aligns with Mavenir's vision of building the future of networks with cloud-native solutions that run on any cloud. About MavenirMavenir is building the future of networks today with cloud-native, AI-enabled solutions which are green by design, empowering operators to realize the benefits of 5G and achieve intelligent, automated, programmable networks. As the pioneer of Open RAN and a proven industry disruptor, Mavenir's award-winning solutions are delivering automation and monetization across mobile networks globally, accelerating software network transformation for 300+ Communications Service Providers in over 120 countries, which serve more than 50% of the world's subscribers. For more information, please visit About SirisSiris is a leading private equity firm that targets control investments in North American, middle-market technology and technology-enabled services companies. Siris leverages its network of exclusive Executive Partners to identify, validate, and deliver on the operational and strategic objectives of its investments. Siris is based in New York and West Palm Beach and has invested ~$9 billion since inception as of December 31, 2024. ContactsFor Mavenir:Emmanuela SpiteriPR@ For Siris:Dana Gorman in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
13-06-2025
- Business
- Daily Mail
In-N-Out of chicken searches for a $1.5 billion buyer as sales spike 9%
A popular fried chicken chain is exploring the idea of selling its business following last year's 9 percent spike in chicken sales across US restaurants. Bojangles, one of the most iconic brands in the Carolinas, is working with investment bankers to potentially sell itself for over $1.5 billion, about three times what it sold for in a 2019 buyout. Private equity firms and other restaurant operators are expected to be interested if Bojangles is up for sale, according to The Wall Street Journal. As of now, the chicken chain has not confirmed whether it will go on the market. The 48-year-old business has rapidly expanded since opening its first restaurant in North Carolina in 1977. Known for its Cajun-spiced chicken and homemade buttermilk biscuits, it now has over 800 restaurants worldwide. Bojangles recently opened its first location in Las Vegas and is set to open several restaurants on the West Coast later this year. These openings, along with the chicken chain sales growth, are factors in why Bojangles is one of the nation's fastest-growing quick-service chicken chains. R.J. Hottovy, head of analytical research at explained why he believes chicken chains like Bojangles have achieved such success. 'Chicken concepts have outperformed the broader quick-service restaurant category the past several years, primarily due to the product's versatility and how easily it adapts to different flavors and dietary needs,' he said. 'This adaptability has enabled a number of brands to stand out by offering a wide range of customizable spice levels, sauces, and sides that appeal to a broader customer base.' Retail expert Neil Saunders, of GlobalData, explained why chicken chains are standing out from the rest of the restaurant industry in the current market. 'The restaurant sector has generally been under pressure in terms of generating growth,' he told 'However, chicken chains have been performing far better than average which is why investors are interested in them. 'Bojangles has been growing, which supports a high valuation, but it also has potential for further expansion which is baked into the purchase price,' he continued. 'Any buyer would want to ramp up store openings and geographical expansion as part of a playbook to recoup their investment.' Bojangles is exploring the idea of putting the chain on the market for $1.5 billion The 48-year-old business has rapidly expanded since opening its first restaurant in North Carolina in 1977 'Bojangles has been growing, which supports a high valuation, but it also has potential for further expansion which is baked into the purchase price,' Neil Saunders, managing director of GlobalData, told The last time Bojangles explored a sales opportunity was in 2018, three years after it became public. Durational Capital Management and TJC confirmed a $593.7 million acquisition deal in 2018, which was finalized in 2019. Once the agreement became official, Bojangles became private. 'Bojangles is an iconic brand with an authentic Southern heritage and a deeply loyal following,' Eric Sobotka, managing partner at Durational Capital Management, said at the time. 'We have admired the brand and its high quality and craveable food for years, and we look forward to partnering closely with the employees and franchisees to drive its future growth and continued success.' The chain went on to initiate an expansion strategy, which featured menu additions and a new restaurant design concept. Bojangles is not slowing down its expansion and is looking to enter markets with strong unit economics and operational support. Some of these markets include New Jersey, New York, Colorado, and Missouri. Bojangles plans were revealed shortly after Dave's Hot Chicken agreed to sell to Roark Capital for about $1 billion. The private equity firm had already made headlines in 2023 after acquiring the Subway sandwich chain for $9.6 billion. Jersey Mike's was acquired by Blackstone private equity firm for $8 billion last year, which was finalized last January.
Bloomberg
06-06-2025
- Business
- Bloomberg
Euro Economies Doubling Growth Grabs Investor Attention
Eurozone economies led by Ireland and Germany expanded twice as much as previously reported to begin the year, with exports surging in anticipation of US tariffs. Eurostat's upward revision to 0.6% growth caught most economists by surprise and capture a currency union that's so far proving resilient. For all the Sturm und Drang hurled by the Trump administration, Europe's macro-economic picture still shows light on the horizon. Private equity investors have a new-found love for Germany and are prowling for deals. Defense technology stocks are booming as investors pour into meeting EU security requirements. Berlin has awakened from its slumber and is newly focused on resolving a deadlock with France over how to deepen the bloc's capital markets.
