Private Equity Firm Acquires Neustar
Neustar, a provider of real-time information services, is being acquired by a private investment group led by Golden Gate Capital in a transaction valued at approximately $2.9 billion.
"We believe this transaction will enable us to continue to execute against our strategy and strengthen our market position as a leader in marketing, risk, security, and communication solutions," said Lisa Hook, Neustar's president and CEO, in a statement. "Golden Gate Capital and GIC offered us a compelling opportunity to continue to invest and pursue long-term growth with operational flexibility, and we look forward to working with these two sophisticated investors. Importantly, customers, employees, and partners will continue to benefit as we execute against our strategy."
"We strongly believe in the company's strategic direction and have been very impressed with the team's ability to transform the business into both a trusted, neutral provider to the telecom industry and a leading information services provider," said Rishi Chandna, a managing director at Golden Gate Capital, in a statement. "We look forward to partnering with the Neustar team to achieve its strategic objectives, make the company’s competitive advantages even more compelling, and drive value for all of Neustar's stakeholders."
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