Azini Capital together with co-investors Comverse Technology Inc. (Nasdaq: CMVT), Gemini Israeli Ventures and other minority shareholders entered into an agreement to sell Starhome BV to funds managed by Israeli private equity firm Fortissimo Capital for $80.3 million in cash. The transaction is expected to close in October 2012.
Starhome is a provider of wireless service mobility solutions that enhance international roaming. Mobile network operators use Starhome's software-based solutions to generate additional revenue and to improve profitability by directing international roaming traffic to preferred networks and by providing a wide range of services to subscribers traveling outside their home network. Starhome’s solutions deliver over 50% of all global daily roaming traffic.
Starhome is based in the Netherlands with operating subsidiaries in Israel and Switzerland and sales offices around the world.
Specialist secondary investor Azini Capital acquired its interest in Starhome from Apax Partners in October 2010 as part of a portfolio of 18 companies.
Nick Habgood of Azini Capital commented “The sale of Starhome is an excellent result for Azini Capital and represents the sixth significant portfolio company sale in the past 2 years. We would like to take the opportunity to thank the Comverse team for their help and support throughout the sale process”.
The vendors were advised by Barclays Capital together with law firms Naschitz, Brandes & Co. (Israel), Mayer Brown International LLP (London) and Curtis, Mallet-Prevost, Colt & Mosle LLP (New York).
For further information about Starhome see www.starhome.com
For information regarding the acquisition of the Apax Partners’ portfolio see http://www.azini.com/news/2010/apax-portfolio-acquired