Since inception in 1999, Silver Lake has made investments through leveraged buyout transactions, minority growth investments and PIPE investments in over 40 companies.
Silver Lake's current and realized portfolio of investments includes or has included technology industry companies such as Ameritrade, Avago Technologies, AVI-SPL, Business Objects, Flextronics, Gartner, Instinet, IPC Systems, MCI, Inc., NASDAQ, Network General, NXP Semiconductors, Sabre Holdings, Seagate Technology, Serena Software, SunGard Data Systems, Thomson SA, UGS Corp, Virtu Financial and MultiPlan.
The following table details some of Silver Lake's private equity investments:
|Skype||2009||Silver Lake, Andreessen Horowitz and the Canada Pension Plan Investment Board announce the acquisition of 65% of Skype for $1.9 billion from E-Bay, valuing the business at $2.75 billion. In May 2011, Microsoft agreed to acquire Skype for $8.5 billion in cash.|
|Avaya||2007||Silver Lake and TPG Capital completed an $8.2 billion leveraged buyout of the enterprise telephony and call center technology company that was formerly a unit of Lucent Technologies|
|Sabre Holdings||2006||Silver Lake and TPG Capital announced a deal to buy Sabre Holdings, which operates Travelocity, Sabre Travel Network and Sabre Airline Solutions, for approximately $4.3 billion in cash, plus the assumption of $550 million in debt. Earlier in 2006, Blackstone acquired Sabre's chief competitor Travelport.|
|NXP Semiconductors||2006||In August 2006, a consortium of Silver Lake, Kohlberg Kravis Roberts and AlpInvest Partners acquired a controlling 80.1% share of semiconductors unit of Philips for €6.4 billion. The new company, based in the Netherlands, was renamed NXP Semiconductors.|
|SunGard||2006||SunGard was acquired by a consortium of seven private equity investment firms in a transaction valued at $11.3 billion. The partners in the acquisition were Silver Lake, which led the deal as well as Bain Capital, the Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners, and Texas Pacific Group. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. Also, at the time of its announcement, SunGard would be the largest buyout of a technology company in history, a distinction it would cede to the buyout of Freescale Semiconductor. The SunGard transaction is also notable in the number of firms involved in the transaction. The involvement of seven firms in the consortium was criticized by investors in private equity who considered cross-holdings among firms to be generally unattractive.|
|Avago Technologies||2005||In 2005, the semiconductor division of Agilent was acquired by Silver Lake and Kohlberg Kravis Roberts, to form Avago Technologies, one of the largest privately held semiconductor companies in the world. In 2009, Avago completed a $650 million initial public offering.|
Reuters news service reports that Silver Lake Partners is among more than a dozen private equity firms subpoenaed by New York state Attorney General Eric Schneiderman regarding a widely used tax strategy within the industry that may illegally cut their tax bills by hundreds of millions of dollars.
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“In youth, love and art. In age, investments and antiques.”
—Mason Cooley (b. 1927)