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Companies born in the recession
A little more than a month after it indicated it was open to hearing from buyers, Bedford’s Interactive Data Corp. is facing a possible buyout from Boston private equity firms Bain Capital Partners LLC and Advent International Corp. according to published reports.
In January, London-based newspaper The Financial Times reported that Interactive Data might be seeking a purchaser. Both Interactive Data and The Financial Times are owned by U.K.-based media conglomerate Pearson. This most recent report about Bain and Advent comes from the news service Reuters, and a spokesperson for Interactive Data said the company would not comment.
The Reuters report also cited sources saying that firms Hellman & Friedman and Silver Lake Partners were in the running for buying Interactive Data (NYSE: IDC) from Pearson, which controls 61 percent of the stock, valued at approximately $1.5 billion.http://www.masshightech.com/stories/2010/01/11/daily61-Interactive-Data-buys-Dubai-firm-said-to-be-seeking-own-buyer.html
If the Advent and Bain deal is successful, it would be the second $1 billion-plus deal this year. Earlier this month, Nashua, N.H.-based e-learning and training company SkillSoft plc said it would be bought out and go private in a $1.1 billion purchase through a new company formed by Bain Capital, Advent and Berkshire Partners LLC.
Interactive Data, which lists approximately 2,400 employees, reported a profit for the first three quarters of 2009 of $108.18 million on revenue of $563.11.
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