San Francisco Bay area based private equity outfit HGGC has recently announced the fact that it has come to an agreement to acquire management solutions and patent risk company RPX Corporation. The purchase price for this major acquisition comes in at $10.50 per share of RPX or a total of around $555 million. As a part of this massive deal, RPX Corporation has received advisory and financial advice from GCA Advisors. For its part in this deal, HGGC’s team has received advisory services from Jeffries LLC as well as Houlihan Lokey Capital Inc. This deal was initially announced on the 1st of May in 2018.
Shelby Bonnie is the Chairman of the Board of Directors at RPX Corporation and she has emphasized how excited she is to be able to be a part of this massive new deal. The Board of Directors at RPX has considered a number of options in the arena of capital structure and financial alternatives and have determined that this deal is the best way to serve the interests of the firm’s shareholders. TheBoard of Directors at RPX goes into this move with HGGC with full confidence that it is the right one and will bring immediate value to the company’s shareholders.
RPX CEO and President Marty Roberts have mirrored the sentiment of Shelby Bonnie and the Board of Directors in emphasizing that this new partnership is an ideal way to help his company toward its next major phase of growth. The financial support that RPX will attain from being involved with this transaction is highly valuable and helps the company toward achieving its prospects on a long-term basis.
HGGC co-founderand Chief Executive Officer Richard Lawson have made it clear that the entire HGGC team is a major believer in the work that is being done by RPX. It will the HGGC’s goal to ensure that RPX’s clients continue to be served in a manner that focuses squarely on their best overall interests. With this major deal now scheduled to go through, the future continues to look bright for both of these exciting firms.