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Just found this on another newsgroup |
Thu, Oct 8 2015 10:37 AM | Permanent Link |
Roy Lambert NLH Associates Team Elevate | |
Thu, Oct 8 2015 11:04 AM | Permanent Link |
Matthew Jones | Roy Lambert wrote:
> > http://www.businesswire.com/news/home/20151007006216/en/Thoma-Bravo-Announces-Sale-Embarcadero-Idera#.VhZ-zUa-nwr > I wonder how that will change anything... -- Matthew Jones |
Thu, Oct 8 2015 11:11 AM | Permanent Link |
Roy Lambert NLH Associates Team Elevate | Matthew
>http://www.businesswire.com/news/home/20151007006216/en/Thoma-Bravo-Announces-Sale-Embarcadero-Idera#.VhZ-zUa-nwr >> > >I wonder how that will change anything... My crystal ball's in for a service at the moment - I'll let you know when it comes back. Roy Lambert |
Thu, Oct 8 2015 1:22 PM | Permanent Link |
Tim Young [Elevate Software] Elevate Software, Inc. timyoung@elevatesoft.com | Roy,
Interesting.... Everyone kind of expected the private equity guys to sell at some point, but I don't know much about Idera. Tim Young Elevate Software www.elevatesoft.com |
Thu, Oct 8 2015 1:36 PM | Permanent Link |
Raul Team Elevate | On 10/8/2015 1:22 PM, Tim Young [Elevate Software] wrote:
> Everyone kind of expected the private equity guys to sell at some point, but I don't know much about Idera. They appear to be a SQL tools company as well and appear to be owned by private equity : TA Associates. Looks like a similar play of market consolidation and only interesting question is whether they are just after the DB tools (i.e. old Embaracdero) or also interested in dev tools (old Codegear). With the "enterprisy" Delphi has made over the years (higher prices, annual maintenance, move to cloud services like EMS,Analytics, etc) it should be a decent fit there as well (assuming of course any of those things made money for Embarcadero). Time will tell. Raul |
Fri, Oct 9 2015 4:39 AM | Permanent Link |
Matthew Jones | Raul wrote:
> and appear to be owned by private equity My experience of private equity has been interesting, and the key is that often there is a lot more interesting goings on under the surface. One case I know of, the investors basically decided that the company wasn't the value-rocket they wanted, and so they sold out to another competitor. All very good on the public surface, but under the hood they were sold for less than the stock in the warehouse. It was a "get anything back" sale, not the merger it was presented as. For the record, if you are thinking it must be company A & B then you are probably wrong - I'm not revealing anything... Oh, and of course I'm not saying that is what is happening with Embarcadero either - I have no info - but as Raul says, the only way we will know is the passage of time. -- Matthew Jones |
Sat, Oct 10 2015 2:12 AM | Permanent Link |
James Dooley | A key consideration here is that the purchase price is almost 100% financed by borrowing, so we can expect to see large chunks of money being pulled out of the company to pay off the borrowings. Meaning less spending on research and development, asset stripping etc. ownership based on borrowing never works out well for the company involved. I hope I'm wrong, but experience makes me fear for the worsted.
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Sat, Oct 10 2015 12:24 PM | Permanent Link |
Raul Team Elevate | On 10/10/2015 2:12 AM, James Dooley wrote:
> A key consideration here is that the purchase price is almost 100% financed by borrowing, so we can expect to see large chunks of money being pulled out of the company to pay off the borrowings. Meaning less spending on research and development, asset stripping etc. ownership based on borrowing never works out well for the company involved. I hope I'm wrong, but experience makes me fear for the worsted. Good point but i can't think of any really significant "assets" Embarcadero has that the new company can pull out quickly (especially for $400M). I don't think they have IP/patents, real estate, equipment or other assets that would be worth that much. It has the brands (including delphi), employees (skillset), products and customers mostly. SQL side i can't speak to much but i did not think the tools they had were that unique in the marketplace (i might be wrong). Definitely on dev tools side u believe this to be true and significantly raising prices and cutting R&D will impact their own cash flow first. Pricing is one area i'm less worried about - product is already priced for commercial use so doubling of price would not be popular but i think most of us would continue to pay (at least short term for 1-2 years) as long as we make money with it. However cutting R&D and/or not improving quality would be the main problem - most of us can use products we already have likely for aother 5+ years but without significant improvements to products i feel we will start using alternatives more and more thus eroding their customer base. The really curious bit is that there has been no announcements of any kind to existing customers !? One would assume these talks have been going on for months so i would have expected a prepared PR statement at least by now. Raul |
Sun, Oct 11 2015 3:09 AM | Permanent Link |
Roy Lambert NLH Associates Team Elevate | Raul
>The really curious bit is that there has been no announcements of any >kind to existing customers !? One would assume these talks have been >going on for months so i would have expected a prepared PR statement at >least by now. That's a very interesting point. You'd expect them to be shouting how this was good news for customers at the very least. Roy Lambert |
Sun, Oct 11 2015 8:15 AM | Permanent Link |
Roy Lambert NLH Associates Team Elevate | Raul
Marketing/sales emails are still arriving though Roy Lambert |
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