MergerLinks Daily Review
MergerLinks
Join a community of 250,000+ M&A professionals. Expand your network and discover new business opportunities.
Welcome to MergerLinks Daily Review. Sign up here to get the full round up of your daily dose of blue-chip M&A news directly to your inbox.
Coda Payments nears a $2.5bn funding from Insight and GIC. (FS)
You can access today's complete newsletter here.
Scroll down for more...
Thoma Bravo, a US-based private equity firm, agreed to acquire SailPoint, an Austin Texas tech company that provides identity management and governance for unstructured data access, for $6.9bn.
"Identity security is core to cyber security and businesses have realized that to fuel business growth and success, they must start with identity as the foundation for secure business transformation. We've experienced rapid growth and see a tremendous opportunity ahead of us to continue to set the pace in the identity security market as the category leader," Mark McClain, SailPoint Founder and CEO.
Thoma Bravo is advised by Finsbury Glover Hering and Kirkland & Ellis. Debt Financing is provided by Owl Rock Capital, Golub Capital and Blackstone. SailPoint is advised by Morgan Stanley, Goodwin Procter and ICR.
Kaseya, a provider of unified IT management and security software, agreed to acquire Datto, a firm engaged in providing cloud-based software and technology solutions, for $6.2bn. Insight Partners, TPG Capital, Temasek and Sixth Street also participate in the deal.
“This is exciting news for Kaseya’s global customers, who can expect to see more functional, innovative and integrated solutions as a result of the purchase. The alignment of our missions and focus makes us a natural fit, that will help our greatly appreciated customers reach new levels of success. We couldn’t be more excited about what lies before us - Kaseya and Datto will be better together to serve our customers," Fred Voccola, Kaseya CEO.
Datto is advised by Qatalyst Partners and Kirkland & Ellis. Kaseya is advised by Evercore and Willkie Farr & Gallagher. Debt financing is provided by Ares Management, Blackstone, Carlyle Global Credit, Golub Capital, Oak Hill Advisors and Owl Rock Capital. Debt provider are advised by Davis Polk & Wardwell and Paul Weiss Rifkind Wharton & Garrison. TPG and Sixth Street are advised by Ropes & Gray. Temasek is advised by Sullivan & Cromwell.
Recommended by LinkedIn
Goldman Sachs completed the acquisition of NN Investment Partners, an asset management company, from NN Group, an insurance and asset management company, for €1.7bn ($2bn).
"This acquisition advances our commitment to put sustainability at the heart of our investment platform. It adds scale to our European client franchise and extends our leadership in insurance asset management. We are excited to welcome the talented team at NN Investment Partners, a center of excellence in sustainable investing, to Goldman Sachs and together we will focus on delivering long-term value to our clients and shareholders," David Solomon, Goldman Sachs Chairman and CEO.
Goldman Sachs was advised by Freshfields Bruckhaus Deringer, Sullivan & Cromwell, Goldman Sachs and Brunswick Group. NN Group was advised by JP Morgan and De Brauw Blackstone Westbroek.
The Hina Group, an investment banking firm, and Industrial Bank, a joint-stock commercial bank, offered to acquire VNET Group, an operator of data center business, for $800m.
“There can be no assurance that any definitive offer will be made, that any agreement will be executed or that the proposed transaction or any other transaction will be approved or consummated,” VNET.
Coda Payments nears a $2.5bn funding from Insight and GIC. (FS)
Singaporean firm Coda Payments is nearing a deal to raise funds at about a $2.5bn valuation, Bloombergreported.
The online payment processing company is poised to announce a fresh fundraising deal to fuel growth plans as early as this week. The round is led by venture capital firm Insight Partners, while Singaporean sovereign wealth fund GIC is among investors.
Coda has been working with Goldman Sachs on a strategic review of options including a potential sale of the business, an initial public offering and a private round. The company was seeking a valuation of at least $4bn.
Interested to find more? Sign up here to get full round up of your daily dose of blue-chip M&A news directly to your inbox.
You can access today's complete newsletter here.