SANTA CLARA, Calif., April 24 /PRNewswire-FirstCall/ -- SVB Silicon Valley Bank , the premier commercial bank for technology and life science companies of all sizes, today announced it provided $19 million in senior secured debt to assist Vector Capital with its acquisition of the Discovery Informatics division of Tripos, Inc. . Vector Capital, a leading private equity firm specializing in spinouts, buyouts and recapitalizations of established technology businesses acquired a division of Tripos, L.P., a provider of specialized software for researchers in the pharmaceutical, biotechnology and academic fields, for approximately $26 million.
The financing is part of SVB Silicon Valley Bank’s growing activity in providing structured debt and banking solutions to private equity firms in the buyout arena and their technology and life science portfolio companies.
“We’re pleased to be working with Vector, and to be helping fund the acquisition and growth of mature technology companies in the same way we have been supporting venture-backed companies for over two decades,” said Brian Sherer, managing director at SVB Silicon Valley Bank. “We’ve found that the model of relationship building that is so essential to serving the venture community adapts very well to the private equity world.”
“We were impressed with SVB’s ability to understand the transaction in a short period of time, flexibility in transaction structure and preparedness to support us with additional capital to fund acquisitions,” said Amish Mehta, partner at Vector Capital.
About Tripos
Tripos, L.P. helps pharmaceutical companies and research facilities around the world successfully accelerate the identification and optimization of new compounds that have the potential to become drug products. Headquartered in St. Louis, Mo., Tripos Discovery Informatics services more than 1,000 customers spanning more than 46 countries. Further information on Tripos can be found at www.tripos.com.
About Vector Capital
Vector Capital is a leading private equity firm specializing in buyouts, spinouts and recapitalizations of established technology businesses. Vector identifies and pursues these complex investments in both private and public markets. Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of these businesses and enhances their value for employees, customers and shareholders. Among Vector’s notable investments are Savi Technology, LANDesk Software, Corel Corporation, Register.com, Watchguard Technologies, and SafeNet Inc (pending). For more information, visit www.vectorcapital.com.
About SVB Silicon Valley Bank
SVB Silicon Valley Bank provides commercial banking services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, SVB Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients’ success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 U.S. offices and three international operations. SVB Silicon Valley Bank is a member of global financial services firm SVB Financial Group, with SVB Alliant, SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.
Disclaimer:
SVB Silicon Valley Bank refers to Silicon Valley Bank, the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve. SVB Private Client Services is a division of Silicon Valley Bank. SVB Financial Group is also a member of the Federal Reserve.
SVB Silicon Valley Bank
CONTACT: Meghan O’Leary of SVB Financial Group, +1-408-654-6364,moleary@svb.com
Web site: http://www.svb.com//
