Francisco Partners
Francisco Partners
Francisco Partners is a prominent American private equity firm with a keen focus on investments in the technology sector. Established in August 1999 in Menlo Park, California, Francisco Partners has carved a niche for itself in the realm of dedicated technology buyout firms. The founders, Sanford Robertson, Dipanjan Deb, David Stanton, Benjamin Ball, and Neil Garfinkel, brought a wealth of experience from various private equity ventures to establish this influential firm.
Key Investments and Acquisitions
Francisco Partners has a rich history of strategic acquisitions and investments across the technology and hardware domains:
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In 2000, the firm made headlines by purchasing 90% of Advanced Micro Devices' (AMD) communications products division for $375 million in cash. This move signaled Francisco Partners' commitment to investing in high-growth technology areas.
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In 2002, Francisco Partners invested $800 million to acquire 90% of Global eXchange Services, a division of General Electric Company that facilitated sales operations for approximately 30,000 multinational corporations.
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The acquisition of NPTest, a semiconductor-testing unit of Schlumberger, in 2003 further expanded the firm's portfolio in the semiconductor industry.
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In a notable transaction in 2004, Francisco Partners purchased Smart Modular from the Solectron Corporation, and the company went public two years later.
Recent Developments
The firm continues to evolve with recent acquisitions and strategic decisions:
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In November 2023, Francisco Partners, along with TPG Inc., completed the acquisition of New Relic, a significant player in the software analytics space.
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By February 2024, Francisco Partners successfully acquired The Weather Company, known for its cutting-edge weather forecasting technologies.
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The private equity firm also acquired Blancco Technology Group in December 2023 for approximately £175 million, extending its reach in the data erasure industry.
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Francisco Partners has been involved with Boomi, LP since May 2021, collaborating with TPG Capital to acquire it from Dell.
Impact and Influence
Through its strategic investments, Francisco Partners has played an essential role in shaping the technology landscape. The firm's ability to spot potential in hardware and software firms has enabled it to maintain a stronghold in the market, continuously fostering innovation and growth.