LOS ANGELES, November 23, 2010 – Marlin Equity Partners (“Marlin”) is pleased to announce that it has acquired Phoenix Technologies Ltd. (NASDAQ: PTEC) (“Phoenix”), the market leading provider of Core System Software (“CSS”) for PCs and other computing devices. The public-to-private transaction was valued at approximately $152 million. Phoenix’s CSS products support and enable the compatibility, connectivity, security and manageability of the various components and technologies used in PC’s and other electronic devices. PC manufacturers leverage Phoenix’s software solutions to differentiate their systems, reduce time-to-market and increase revenues. Since its original BIOS product in 1983, Phoenix has shipped firmware in over one billion systems.
Tom Lacy, Phoenix’s CEO, stated, “This transaction is compelling for our company, customers, partners and employees and we look forward to benefiting from Marlin’s knowledge and resources as we continue to execute and deliver innovative products and solutions to our customers.”
Nick Kaiser, a Partner at Marlin, commented, “Phoenix is an outstanding company with a competitive product offering and bright future. Marlin is committed to building on Phoenix’s market leading position through both organic growth and strategic acquisitions.”
“Phoenix is an established industry leader with a strong market position, proven product offering, loyal customer base and talented development team,” added Bart Foster, Operating Partner at Marlin. “We look forward to partnering with the Phoenix team to enhance their product offering and capitalize on continued positive trends within the PC industry.”
About Marlin Equity Partners
Marlin Equity Partners is a Los Angeles, California-based private investment firm with over $1 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries that are in the process of undergoing varying degrees of operational, financial or market-driven change where its capital base, industry relationships and extensive network of operational resources significantly strengthens a company’s outlook and enhances value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 40 acquisitions. For more information, please visit www.marlinequity.com.
About Phoenix Technologies
Phoenix Technologies is the market leading provider of Core Systems Software products, services and embedded technologies that enable the PC industry’s top system builders and specifiers to differentiate their systems, reduce time-to-market and increase revenues. Its flagship products — Phoenix SecureCore Tiano™ and Embedded BIOS® — are revolutionizing the PC user experience by delivering unprecedented performance, security, reliability, continuity and ease-of-use. Since its original BIOS product in 1983, Phoenix has shipped firmware in over one billion systems. Phoenix is headquartered in Milpitas, California and has offices worldwide. For more information, please visit www.phoenix.com.
For additional information, please contact Peter Spasov at (310) 364-0100 or via e-mail at firstname.lastname@example.org.