Silverpeak advises UltraSoc on equity funding round

Silverpeak, the technology investment bank, acted as the exclusive financial advisor to UltraSoC, an independent provider of SoC infrastructure based in Cambridge, in its £5m funding round to drive continued deployment of its technology and realize its vision of embedding intelligent analytics capabilities into every silicon chip.

Atlante Tech leads a strong line up of new investors including Enso Ventures, Oxford Capital, and successful CEO & serial entrepreneur Guillaume d’Eyssautier, who join existing investors Octopus Ventures and South East Seed Fund (FSE Group).

UltraSoC’s semiconductor intellectual property (SIP) enables designers to easily and cost-effectively create complex SoCs (systems on chip) with built-in intelligence that continuously monitors and responds to real-world behaviour. This allows SoCs to optimize power consumption and performance and deal with security threats or safety breaches.

Successful development of the company’s debug tools and increased awareness of the technology’s potential benefits has meant a series of significant commercial engagements, with more in the pipeline. Amongst others, HiSilicon (Huawei), Imagination Technologies, Movidius (now Intel), and Microsemi have all licensed UltraSoC technology for use in their designs, delivering proven hardware-embedded benefits to their customers. To ensure these benefits are accessible to customers in all sectors across the globe, UltraSoC partners with leading names in the semiconductor industry including ARM, Baysand, Cadence/Tensilica, CEVA, Codasip, Lauterbach, MIPS and Teledyne LeCroy.

UltraSoC was named one of the 100 most exciting companies in the UK in the 2016 Mishcon de Reya CityAM “Leap 100” list, and nominated by Gartner as one of its 2016 “Cool Vendors”. It was recognized as “Best New Company” in the 2015 ELEKTRA Awards.

Silverpeak worked with the company as their exclusive financial advisor.

Rupert Baines, CEO of UltraSoC said: “Silverpeak were key in this process, to which they brought a unique understanding of our business and industry, their relationships with investors and strategic players, intelligent deal execution and structuring, and unflinching dedication. As an added benefit, we truly enjoyed working with them.”

Pietro Strada, the Managing Partner at Silverpeak leading the process, added: “UltraSoC has unique technology that is integral to the evolution of the most complex semiconductor chips: it offers a great investment opportunity. This deal has been successful due to the positive collaboration between the Silverpeak team and UltraSoC’s Board and CEO, whom we thank for the opportunity to advise them.”

For more information please contact Pietro Strada: ps@silverpeakib.com
For more information about UltraSoC, please visit www.ultrasoc.com

Silverpeak appoints Simon Walker as Chairman

Silverpeak, the technology investment bank, today announced the appointment of respected lawyer Simon Walker as Chairman.

Until recently, Simon was a partner in the Corporate Technology Group at international law firm, Taylor Wessing. He brings experience to Silverpeak of growing a large professional services business well positioned in the technology sector.

He joined Taylor Wessing in 1997 where he established its venture capital practice. He has advised on numerous international company sales and acquisitions, as well as venture capital investments, both for funds and companies. Simon initiated and led the setting up of offices in Cambridge and Shoreditch to capitalise on opportunities in the technology sector.

Simon regularly speaks at conferences, has served as Member of Advisory Board – Europe of Cleantech Network LLC and as a member of the British Venture Capital Association’s Venture Capital Committee.

“We are delighted to have such a well-respected professional, who has been instrumental in growing Taylor Wessing into a superb tech focused law firm, join our team. Simon will play a key role in Silverpeak’s continued expansion” said Jean-Michel Deligny, Managing Director at Silverpeak.

Simon commented: “It is a real pleasure to join the Silverpeak team at such an exciting time. I have known them for many years and always admired the advice and service they provide. I am very much looking forward to being involved in Silverpeak’s growth.”

Silverpeak advises Blackbay on sale to BluJay Solutions

Silverpeak, the technology investment bank, acted as the exclusive financial advisor to Blackbay Ltd, a leading provider of mobility enabled software for the transport and logistics industry, on its sale to Francisco Partners owned BluJay Solutions, a leading provider of supply chain software and services previously known as Kewill.

Blackbay, headquartered in the UK with offices in the United States, Australia and New Zealand, will fully integrate with the global BluJay Solutions team. Its solutions deliver real-time track-and-trace, dispatching, on-the-road processes routing and scheduling capabilities to enable operators, drivers and other mobile workers to optimize the delivery process, streamline operations, improve compliance, increase revenue and enhance the overall customer experience.

Silverpeak worked with the company and Albion Ventures, the institutional shareholder, as lead adviser to map the marketplace, identify and contact potential buyers and negotiate a transaction through to final completion.

Nigel Doust, CEO of Blackbay said, “The Silverpeak team were able to assist and guide us seamlessly throughout the transaction process. Silverpeak’s in-depth knowledge of the technology market and their ability to deal with the complexity of the transaction proved invaluable to yield a strong result for Blackbay and its shareholders.”

Emil Gigov, Partner at Albion Ventures, said “Silverpeak led the process in a professional and proactive way. Paddy MccGwire’s ability to navigate complex situations and manage difficult negotiations helped achieve a positive result for the company and for the investors. Silverpeak were totally committed to the successful conclusion of the transaction. I look forward to working with them again.”

Paddy MccGwire, the Managing Partner at Silverpeak leading the process added “Blackbay had transformed itself into a SaaS business with a leading global product. BluJay Solutions was the player where there was the greatest strategic and cultural fit. Together they can fully address the worldwide opportunity as logistic providers adopt current best practice.”

Silverpeak advises Silver Lining Solutions on sale to Genesys

Silverpeak, the technology investment bank, acted as the exclusive financial advisor to Silver Lining Solutions Ltd, a provider of industry-leading employee performance optimisation software, which has been acquired by Genesys, the global leader in omnichannel customer experience and contact centre solutions.

Silver Lining Solutions develops employee performance optimisation software that helps improve employee engagement and performance, enabling organisations to serve customers better, increase sales and operational effectiveness, and reduce costs. The award-winning UK-based company was founded in 2001 and has offices in the UK, Asia Pacific and the United States.

The acquisition of Silver Lining Solutions will further expand Genesys’ capabilities to help organisations elevate employee engagement and improve business results related to sales,collections, workforce productivity, and customer satisfaction.

Silverpeak were the lead adviser on the transaction initiating the process with global strategic acquirers, advising management and the three institutional shareholders, and negotiating the transaction through to final completion. Terms of the deal were undisclosed.

Ed Wass, CIO at Catapult Ventures said “Silverpeak helped corral us over the line. This deal had some challenges, some I’ve seen before, some I haven’t. It needed great determination and not a little patience in sorting out the detail.”

Stephen Edwards, Chairman of Silver Lining Solutions commented “Obviously our first responsibility was to get the best possible return for our investors, and we have done that. However, we also had a duty to try to find a suitable result for our people, our product and our customers which we have achieved.”

Paddy MccGwire, the Managing Partner at Silverpeak leading the process, said “This is another enterprise software sale where we were dealing with strategic buyers from Israel, Europe and US, with San Francisco based Genesys winning the prize. There was an added complexity that three of the parties were either partners or OEMs that required careful management to protect the business.”

Silverpeak advises Virtual Clarity on investment by CSC

Silverpeak, the technology investment bank, acted as the exclusive financial advisor to Virtual Clarity, a leading provider of IT-as-a-Service (ITaaS) transformation strategy
and leadership, on its investment by Computer Science Corporation (NYSE:CSC), a global leader in next-generation IT services and innovative cloud solutions.

Under the terms of the agreement, CSC will make an undisclosed investment in Virtual Clarity to accelerate the company’s leading transformation consulting services targeting the Financial Services, Insurance, Telecom, and Manufacturing industries. Virtual Clarity will become a Strategic Affiliate of CSC and will collaborate on
joint go-to-market pursuits with CSC.

Virtual Clarity has significant knowledge and experience in helping global clients solve large, complex business problems and building lasting value for customers and partners. Its ClearTransformation service enables companies to accelerate business innovation, overcoming the inertia of legacy IT by transforming the traditional IT operating model to nimble IT-as-a-Service. Last year, Virtual Clarity has exceeded 35% annual growth with over half the revenues coming from clients in North America.

Silverpeak acted as the sole advisor to Virtual Clarity, leading the process with parties across three continents, advising the company through all phases of the deal, and negotiating the
transaction to achieve a successful outcome for all parties.

Steve Peskin, CEO of Virtual Clarity commented “The strategic options for companies like ours, including trade sale, are getting more innovative in a world where collaboration (replacing
ownership) and preserving culture are recognised as key components of value creation. Without expert advice on the complexities of new, innovative ways of unlocking the value in their
business management will start to struggle to understand the options, choose the right one and execute the right transaction in the right way which will include explaining it to shareholders.
That’s why we used Silverpeak. It worked.”

Virtual Clarity’s Chairman Charles Grant said “We have collaborated very successfully with Paddy MccGwire on a number of occasions. The genial manner, combined with a practical and
meticulous approach has been a winning formula for us. It’s great working with the Silverpeak team.”

Paddy MccGwire, the Managing Partner at Silverpeak leading the process, said “We are delighted to have worked with the team again, who have created a fairly unique asset. This hybrid strategic
investment and partnership by CSC will provide access to resources and customers with aligned objectives that can catapult the growth rate of the business further.”

Silverpeak advises H.I.G. Capital on the acquisition of assets of Xtera Communications, Inc

Silverpeak, the technology investment bank, acted as the exclusive financial advisor to H.I.G. Capital (“H.I.G.”) and the management of the subsea division of Xtera Communications Inc (“Xtera”) on the acquisition of substantially all the assets of Xtera, a provider of innovative and bespoke sub-sea fiber optic solutions.

Silverpeak supported H.I.G. who provided debtor-inpossession financing to the Xtera debtors in connection with
the Chapter 11 case.

Established in 1998 and based in the UK (Harold Wood,Essex) and the US (Allen, Texas), Xtera supplies unrepeatered and repeatered sub-sea systems, using high performance optical amplifiers to carry data. Under H.I.G.’s ownership, Xtera’s management and technical team will remain at the helm of the business, focused on successfully executing key existing customer contracts and expanding the business in the rapidly growing markets it serves with a clear roadmap of disruptive product launches.

Thanks to their longstanding relationship, Silverpeak were appointed by the management of the sub-sea business line as exclusive advisors to find a financial sponsor, identifying H.I.G. as the
most suitable partner based on their knowledge of the optical communications sector and conviction in the management team. Silverpeak also acted as exclusive financial advisors to H.I.G.
providing financial advice through all phases of the transaction and working closely with Carl Harring, Managing Director at H.I.G. Capital.

Stuart Barnes, VP & GM of Xtera Sub-sea commented: “We selected Silverpeak because of their in-depth knowledge of the tech space, and in particular optical communications. Throughout the
process, they provided a great combination of intellect and pragmatism, which yielded a great result.”

Keith Henderson, COO of Xtera added that “The Silverpeak team are dedicated professionals with in-depth relationships in the technology market: without Silverpeak we would not have found a
financial sponsor who could work to tight timelines and successfully close our MBO. Silverpeak assisted us flawlessly from the beginning to the end of the transaction.”

Pietro Strada, the Managing Partner at Silverpeak leading the process, said “Our sector knowledge and relationships secured the trust of the management team and allowed us to find a formidable
financial sponsor in H.I.G. This transaction was complex and intense: the team here did an outstanding job at addressing the execution challenges. We are delighted to have assisted H.I.G.
and management in acquiring Xtera. The new business offers differentiated technology to submarine cable operators and no doubt will become a market leader in the years ahead.”

Silverpeak advises in the sale of Magic Pony Technology to Twitter

Twitter has acquired Magic Pony Technology, a London-based technology company that has developed novel machine learning techniques for visual processing.

The acquisition of Magic Pony builds on other investments Twitter has made in machine learning, beginning with the acquisitions of Madbits in July 2014 and Whetlab in June 2015.

Magic Pony’s technology – based on research by the team to create algorithms that can understand the features of imagery – will be used to enhance Twitter’s strength in live and video.

The Silverpeak team, led by Pietro Strada, advised Octopus, who were the largest institutional investor in Magic Pony following an initial investment in the summer of 2015 and a further funding round earlier this year.

Terms were undisclosed.

Silverpeak advises on sale of m2fx to Belden company, PPC Broadband

m2fx, a fibre-optic cable manufacturer has been acquired by PPC Broadband, a Belden company headquartered in Syracuse, New York, for an undisclosed sum.
Based in Framlingham, Suffolk, in the UK, m2fx’s first product was a fibre protection tube designed to prevent fibres from kinking. Since then the company has expanded into the fibre-to-the-premises (FTTP) market with the Miniflex range of pushable fibre-optic cables. Other products include fibre cable designed for aerial deployment and low-friction duct for blown fibre installation.

‘This is a merger of two innovative companies which have complementary product lines,’ said Tom Carter, managing director of m2fx. PPC Broadband is a leader in cable and wireless broadband connectivity products, while m2fx specialises in fibre-optic cabling for the telecom market.

Belden, which acquired PPC Broadband in December 2012, is a market leader in the industrial components and fixtures industry, with revenues of more than $2 billion.

Over the coming weeks, m2fx branding will disappear as the company becomes part of the PPC Broadband family – although its product brands such as Miniflex and Quikpush will remain.

Silverpeak acted as lead advisor to the vendor shareholders, working with them to map the marketplace, prepare the company, identify and contact potential buyers worldwide, and negotiate the transaction through to final completion.

Anita Hamilton, Managing director of Linnaeus Capital Partners said “The Silverpeak team provided a proactive and efficient advisory sale service, which fully covered commercial, financial and legal issues.”