Buyout Acquisitions in 2010

Palladium Equity Partners, through an affiliate, has acquired Jordan Health Services (Jordan Healthcare Holdings, Inc.) from undisclosed sellers; terms were not disclosed. Jordan, founded in 1975 and based in Mount Vernon, Texas, is one of the largest home healthcare providers in Texas with over 12,000 employees across 28 locations; Palladium said it will partner with management to pursue regional expansion and a greater focus on skilled healthcare services.

Littelfuse, Inc. (NASDAQ: LFUS) has acquired all outstanding stock of Cole Hersee Company for $50 million in cash to expand its off-road, truck and bus (OTB) business. The purchase brings Cole Hersee’s power-management and heavy-duty electromechanical and solid-state switch products into Littelfuse’s portfolio, strengthening customer relationships, distribution and product offerings.

Torque Medical Holdings, LLC, a platform company founded by New York-based private equity firm Torque Capital Group, has acquired J-Pac and Doyen Medipharm, a contract manufacturer and precision machinery provider serving the medical device and pharmaceutical industries. The deal brings together advanced medical-product manufacturing and high-volume precision production equipment under Torque's ownership to expand manufacturing capabilities and accelerate growth, including planned investments and footprint expansion in Asia.

Deerfield, Illinois-based private equity firm Pfingsten Partners has acquired Consolidated Commercial Controls, Inc. (CCC), a Morton Grove, Illinois-headquartered supplier of replacement parts and accessories for commercial foodservice equipment. CCC will remain headquartered in Morton Grove with its 50 employees retained; Pfingsten plans to grow the business through new product lines, geographic expansion and strategic add-on acquisitions.

The Dolan Company (NYSE:DM) has acquired DataStream Content Solutions, LLC, a College Park, Maryland-based provider of federal legislative and regulatory data and content management systems; the deal included DataStream's subsidiary Potomac Publishing. DataStream will join Dolan's Business Information Division and continue operating from College Park under its existing management, adding subscription-based legislative and regulatory content and data-management capabilities to Dolan's product portfolio.

TeleTech Holdings acquired an 80% interest in Peppers & Rogers Group, a global management consulting firm specializing in customer-centric strategies. The acquisition expands TeleTech’s professional services and strategic advisory capabilities while Peppers & Rogers’ management retains a 20% ownership and the firm will continue to operate independently.

SilverStream Software, Inc. (NASDAQ: SSSW) has acquired Bondi Software, Inc., an eBusiness services firm. The purchase expands SilverStream's professional services capabilities and J2EE/web development expertise to support its eBusiness platform and global systems integrator channel.

TEC Inc acquired Taylor Associates, Inc., a Seattle-based water resources consulting firm, in a strategic tuck-in to expand TEC's water-resources capabilities and federal-sector work (notably with the Department of Defense). The deal broadens TEC's environmental, engineering and planning offerings for clients in the Puget Sound region and supports TEC's growth prior to its later sale to Cardno.

EMC Corporation acquired Bus-Tech, Inc., a Bedford, Massachusetts provider of Virtual Tape Library (VTL) solutions, and integrated it into EMC's Backup Recovery Systems division to strengthen EMC's mainframe disk-based backup and deduplication offerings. The acquisition is intended to expand EMC's mainframe backup, recovery and archiving capabilities and was not expected to have a material impact on EMC's 2010 GAAP or non-GAAP EPS.

Webroot, a privately held internet security company based in Boulder, Colorado, acquired Prevx, a Derby, United Kingdom-based provider of cloud-based anti-malware and behavior-based malware detection. Webroot will integrate Prevx's cloud anti-malware technology into its cloud security services to expand its endpoint and cloud threat protection capabilities for consumers and businesses.

DragonWave Inc. acquired Axerra Networks Inc. in an all-cash transaction valued at $9.5 million (debt-free), with a potential performance-based earn-out of up to $15.5 million payable over 16 months. The acquisition combines Axerra's pseudowire and mobile-backhaul products with DragonWave's packet microwave portfolio to deliver converged TDM and packet backhaul solutions and broaden DragonWave's carrier and MSO customer reach.

Betco Corporation acquired Bio-Systems International, a Beloit, Wisconsin-based developer and manufacturer of bacterial and enzyme-based environmentally friendly cleaning and wastewater treatment products. Bio-Systems will continue R&D, manufacturing and customer support from its Beloit facilities and operate as an independent subsidiary under existing management.

Cisco Systems has completed its acquisition of ExtendMedia, a privately held provider of software-based video content management systems (CMS) headquartered in Newton, Massachusetts with the majority of its employees in Toronto. The acquisition brings ExtendMedia's CMS and multi-screen IP video capabilities into Cisco's Service Provider Video Technology Group to strengthen Cisco's next-generation IP video architecture and monetization offerings for pay and ad-supported models.

MerchantCircle has acquired TimeBridge, a web- and iPhone-based meeting scheduler used by more than 500,000 users. MerchantCircle will continue to operate TimeBridge while integrating its scheduling technology and patent portfolio into merchant profiles to let consumers schedule appointments, and TimeBridge co-founder Yori Nelken will join MerchantCircle. Terms of the deal were not disclosed.

TIBCO Software Inc. completed the acquisition of Proginet Corporation, adding Proginet’s managed file transfer (MFT) products to TIBCO’s portfolio to strengthen secure, auditable file movement capabilities across on-premise and cloud deployments. The acquisition integrates Proginet’s MFT technology into TIBCO’s software infrastructure offerings to better serve enterprise customers with secure file transfer and process integration needs.

CafePress has acquired Canvas On Demand, including its Canvas On Demand Pro service and Great Big Canvas shop, to expand its art and custom canvas printing capabilities. Canvas On Demand will continue operating from Raleigh, North Carolina, and co-founders Joe Schmidt and Tom Lotrecchiano will serve as general managers of CafePress' art business. Financial terms were not disclosed.

Maplehurst Bakeries, a subsidiary of George Weston Limited, acquired Keystone Bakery Holdings, LLC from Keystone Capital, Inc. for approximately $185 million. The transaction brings KBH’s frozen baked-goods platform (including Freed's, Granny's and Heartland) into Weston's Weston Foods/Maplehurst network to expand its North American in-store bakery and foodservice footprint.

VMware announced agreements to acquire Integrien, a real-time application and infrastructure performance analytics company, and TriCipher, a provider of secure access management and identity federation for SaaS applications, to expand its vCenter management and hybrid cloud security capabilities. Both deals were announced at VMworld 2010 and were expected to close in the third quarter of 2010; financial terms were not disclosed.

Ensign-Bickford Industries' subsidiary EB Analytics, Inc. has acquired EnviroLogix Inc., a Portland, Maine-based developer and manufacturer of rapid agricultural test kits (QuickStix and QuickScan). Terms were not disclosed; EBI said the deal expands its capabilities into laboratory services and creates synergies with its pet food ingredient subsidiary, AFB International.

Zynga has acquired Boston-based social games developer Conduit Labs and will convert the team into a new Zynga Boston studio focused on new product development. Conduit Labs' CEO Nabeel Hyatt will lead the Boston studio; terms were not disclosed.

JWT, the WPP-owned global marketing communications company, has acquired 100% of Digitaria Interactive, Inc., a San Diego-based digital agency. Digitaria, founded in 1997 with ~100 employees and unaudited revenues of US$14.3 million for the year ended March 31, 2010, will bolster JWT/WPP's digital media and interactive capabilities.

NouvEON, a management and technology consulting firm, has acquired Morrisville-based InCentric Solutions to expand its Research Triangle presence and add technology hardware and services capabilities. Financial terms were not disclosed; the combined company will have more than 110 employees.

GFI Software acquired Sunbelt Software and its VIPRE product suite, terms not disclosed. GFI said it will integrate VIPRE technology into its email and web security offerings, expand its install base globally through its partner channel, and divest Sunbelt's software distribution assets into a separate entity.

NexTag, the San Mateo-based comparison shopping site, acquired Wize, a Burlingame-based product recommendation research engine, to integrate review content and improve shopping recommendations for consumers. Wize will retain its Burlingame offices and management team, with CEO Tom Patterson reporting to NexTag leadership; financial terms were not disclosed.

TIDI Products LLC, a Neenah, Wisconsin-based manufacturer of single-use infection prevention and patient-care products, has acquired Timely Medical Innovations, LLC of Carlsbad, California. The acquisition adds Timely Medical’s disposable optical‑grade eye and facial protection products to TIDI’s PPE portfolio to complement its P2 facemask offering and broaden its acute-care and healthcare product lineup.

GSI Commerce's Marketing Services division acquired Tempe-based retargeting provider FetchBack, which will operate as a wholly owned subsidiary. The deal expands GSI's marketing capabilities by adding FetchBack's retargeting technology and analytics to GSI's suite of services; terms were not disclosed.

An affiliate of private equity firm Thoma Bravo completed the acquisition of PLATO Learning, Inc. for approximately $143 million on May 25, 2010. PLATO stockholders received $5.60 per share in cash and PLATO Learning’s common shares were delisted from NASDAQ following closing.

Infoblox has acquired Netcordia, a provider of network and systems management software, for an undisclosed sum. The deal expands Infoblox’s product portfolio beyond IP Address Management (IPAM) into automated network and systems management to enhance IT automation and network operations capabilities.

MSouth Equity Partners, in partnership with Vectorply management and Northstar Capital, closed the acquisition of Vectorply Corporation, a developer and manufacturer of high-performance reinforcement fabrics for composite materials. The investment positions Vectorply to capitalize on growth in wind energy and other end markets including marine, transportation and sports/recreation.

An affiliate of Lone Star Funds (LSREF) completed the acquisition of Lodgian, Inc., one of the largest independent U.S. hotel owners and operators, in an all-cash transaction valued at approximately $270 million including assumed debt. Lodgian stockholders received $2.50 per share; Lone Star said the deal will pair Lodgian's hotel portfolio with Lone Star's real estate expertise.

Boyne Capital Partners and Grindstone Partners, together with Fulcrum IT management, acquired all outstanding shares of Fulcrum IT Services Company, LLC, a Manassas, Virginia–based federal IT services provider. The investors plan to support growth strategies and expand the company’s service capabilities to federal intelligence and civilian agencies.

Boston-based private equity firm Riverside Partners has completed a majority investment in Thinklogical LLC, a Milford, Connecticut-based designer and manufacturer of high-bandwidth fiber optic KVM and video switching and extension products. The transaction was completed in partnership with Thinklogical’s five founders and management team; Riverside said it will support continued investment to scale the business and accelerate growth across defense, broadcast, medical and other end markets.

Trustwave has acquired Intellitactics, a provider of Security Information and Event Management (SIEM) technology, with deal terms remaining confidential. Trustwave said it will integrate Intellitactics' SIEM capabilities into its data protection architecture to broaden its security and compliance offerings across enterprise, government and SMB customers.

SGI (Silicon Graphics International) has purchased substantially all assets of Copan Systems for approximately $2 million in cash, assuming a limited number of liabilities and no debt. The acquisition expands SGI's storage portfolio by adding Copan's scalable, energy-efficient MAID persistent data platform and SGI intends to retain Copan's Longmont, Colorado office and hire select employees.

Thermo Fisher Scientific has signed a definitive agreement to acquire Finnzymes, a Finland-based provider of PCR enzymes, reagents, instruments and consumables. The acquisition expands Thermo Fisher's molecular biology and diagnostics portfolio by adding Finnzymes' proprietary DNA polymerases, miniaturized thermal cyclers and consumables; Finnzymes is headquartered in Espoo, Finland and had about 90 employees and $20 million revenue in 2009.

Trustwave has acquired BitArmor, a provider of data encryption solutions, and will integrate BitArmor's SmartTag persistent file encryption and full-disk encryption technology into Trustwave's endpoint security and DLP offerings. Financial terms were not disclosed; BitArmor's CEO Patrick McGregor will remain with the company following the acquisition.

Rockbridge Growth Equity led an acquisition of Protect America, a direct-to-consumer provider of self-installed monitored residential alarm systems, with Falcon Investments and Protect America founder Thad Paschall joining the new ownership group. Rockbridge said it will support Protect America’s growth by bringing sales, marketing and operational best practices to expand the company’s DIY and traditional alarm customer base.