UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE
SECURITIES EXCHANGE ACT OF 1934
Filed by the Registrant x Filed by a Party other than the Registrant ¨
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| ¨ | Soliciting Material under §240.14a-12 | |
MATTSON TECHNOLOGY, INC.
(NAMEOFTHE REGISTRANTAS SPECIFIEDINITS CHARTER)
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Supplement
To
Proxy Statement Dated February 17, 2016,
For
SPECIAL MEETING OF STOCKHOLDERS
OF
MATTSON TECHNOLOGY, INC.
TO BE HELD ON MARCH 23, 2016
The date of this Supplement is MARCH 14, 2016.
Mattson Technology, Inc. (“Mattson,” “we” and “us”) is furnishing this supplement dated March 14, 2016 to the proxy statement filed by Mattson with the Securities and Exchange Commission (“SEC”) on February 17, 2016, (the “proxy statement”), in connection with the special meeting of Mattson stockholders to be held on Wednesday, March 23, 2016, at 9:00 a.m. Pacific time.
The following information supersedes and supplements any information in the proxy statement relevant to the applicable topic. Except as specifically supplemented by the information contained in this supplement, all information set forth in the proxy statement remains unchanged. We urge you to read this supplement carefully and in its entirety together with the proxy statement. Any page references listed below are references to pages in the proxy statement, not this supplement to the proxy statement. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the proxy statement
THE MERGER - BACKGROUND OF THE MERGER
The following information supplements the information under the heading “The Merger - Background of the Merger” beginning on page 31 of the proxy statement. You are encouraged to read carefully this entire supplement and the entire proxy statement, including the Annexes and the other documents to which this supplement or the proxy statement refers or incorporates by reference, because the information in this section does not provide all the information that might be important to you.
The following language is hereby added to the end of the paragraph beginning with “On February 12, 2015...”:
“The closing price of the Company’s common stock on the first full day of trading following the announcement of the fourth quarter 2014 results was $4.04 per share, up approximately 61% from the $2.50 per share closing price of the Company’s common stock on October 24, 2014, the first full trading day following the Company’s announcement of third quarter 2014 results.”
The following language is hereby added to the paragraph beginning “On May 26, 2015” immediately following the sentence ending with “at a price per share of $4.00 - $4.50 in cash”:
“The Initial IOI also specified that E-Town Capital envisaged that all current management of Mattson will continue in their respective roles post completion of the proposed acquisition (and at no time throughout the Company’s discussions with E-Town Capital did E-Town Capital indicate to the Company that their position with respect to retention of the Company’s management had changed).”
The following language is hereby added to the paragraph beginning “On June 5, 2015” immediately following the words “the Board should consider adopting a management neutrality policy” therein:
“, as the Company believed appropriate to help insure equal treatment of all potential purchasers.”
The following language is hereby added to the first paragraph beginning “On June 5, 2015” immediately following the sentence ending “the Company should continue to engage with E-Town Capital in order to explore a potential transaction”:
“Each of Mattson’s directors expressed his support for continuing to explore a potential transaction with E-Town Capital and the Board directed management and Morgan Stanley to continue discussions with E-Town Capital and seek a per share purchase price in the range of $6.00 - $7.00 per share.”
The following language is hereby added to the paragraph beginning “On June 12, 2015” immediately following the sentence ending “in the context of the First Revised IOI”:
“Following review of the preliminary valuation materials, Mr. Chen noted that the First Revised IOI referred to an in-person meeting between representatives of E-Town Capital and Mr. Chen, and explained that the meeting was of very short duration and that no one discussed price or any other terms of a potential strategic transaction with E-Town Capital during such meeting.”
THE MERGER - MANAGEMENT PROJECTIONS
The following information supplements the information under the heading “The Merger - Management Projections” beginning on page 54 of the proxy statement. You are encouraged to read carefully this entire supplement and the entire proxy statement, including the Annexes and the other documents to which this supplement or the proxy statement refers or incorporates by reference, because the information in this section does not provide all the information that might be important to you.
The following sentence is hereby added to the paragraph beginning “In connection with the Merger and other transactions contemplated by the Merger Agreement...” on page 54 of the proxy statement immediately following the sentence ending “all of which are difficult to predict, and many of which are beyond the Company’s control”:
“For each of the Forecasts, the Company assumed f/x losses of $100,000 per fiscal quarter for a total f/x loss per fiscal year of $400,000.”
THE MERGER - FAIRNESS OPINION OF MORGAN STANLEY & CO. LLC
The following information supplements the information under the heading “The Merger - Fairness Opinion of Morgan Stanley & Co. LLC” beginning on page 63 of the proxy statement. You are encouraged to read carefully this entire supplement and the entire proxy statement, including the Annexes and the other documents to which this supplement or the proxy statement refers or incorporates by reference, because the information in this section does not provide all the information that might be important to you.
The subsection under the heading “The Merger – Fairness Opinion of Morgan Stanley & Co. LLC – “Trading Range Analysis”” on page 65 of the proxy statement is amended by adding the following immediately after the last paragraph of that subsection:
“Morgan Stanley noted that the Company’s implied equity value on December 1, 2015 (the last full trading day prior to the meeting of the Board to approve and adopt the Merger Agreement, declare the advisability of the Merger Agreement and approve the transactions contemplated thereby, including the Merger), on a fully-diluted basis (including outstanding options, restricted stock awards, restricted stock units and shares underlying convertible debt) was approximately $242 million and the implied aggregate value on a fully-diluted basis was approximately $205 million, based on the closing price of $3.10 of our common stock on December 1, 2015, our outstanding shares, options, restricted stock awards and restricted stock units outstanding as of November 24, 2015, and our cash and debt balances as of September 30, 2015.
Morgan Stanley also noted that implied equity value of the Company under the terms of the Merger on a fully-diluted basis (including outstanding options, restricted stock awards, restricted stock units and shares underlying convertible debt) was approximately $299 million and the implied aggregate value on a fully-diluted basis was approximately $262 million based on the Per Share Merger Consideration of $3.80 pursuant to the Merger Agreement, our outstanding shares, options, restricted stock awards and restricted stock units outstanding as of November 24, 2015, and our cash and debt balances as of September 30, 2015.
Based on the Per Share Merger Consideration of $3.80 pursuant to the Merger Agreement, Morgan Stanley calculated the ratio of aggregate value on a fully-diluted basis (including outstanding options, restricted stock awards, restricted stock units and shares underlying convertible debt) to estimated revenue and Adjusted EBITDA, as well as Price to Earnings for calendar years 2015 and 2016. For purposes of this analysis, Morgan Stanley utilized publicly available estimates of revenue, Adjusted EBITDA, and earnings per share prepared by equity research analysts, available as of December 1, 2015 (the last full trading day prior to the meeting of the Board to approve and adopt the Merger Agreement, declare the advisability of the Merger Agreement and approve the transactions contemplated thereby, including the Merger).
The following table summarizes Morgan Stanley’s analysis:
Street Case | Implied Multiples | |
Aggregate Value to Estimated 2015 Revenue | 1.6x | |
Aggregate Value to Estimated 2016 Revenue | 1.6x | |
Aggregate Value to Estimated 2015 Adjusted EBITDA | 20.6x | |
Aggregate Value to Estimated 2016 Adjusted EBITDA | 22.2x | |
Price to Estimated 2015 Earnings | 33.8x | |
Price to Estimated 2016 Earnings | 41.1x” |
The subsection under the heading “The Merger – Fairness Opinion of Morgan Stanley & Co. LLC – “Public Trading Comparables Analysis”” is amended by adding the following tables immediately after the list of “Selected Small-Cap Semiconductor Capital Equipment Companies” on page 66 of the proxy statement:
Observed Operating Metrics
Calendar Year Based on Thomson Reuters
| Estimated Year-Over- Year Revenue Growth | Estimated Gross Margin | Estimated Operating Margin | ||||||||||||||||||||||
| 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | |||||||||||||||||||
| Selected Large-Cap Semiconductor Capital Equipment Companies | ||||||||||||||||||||||||
Applied Materials, Inc. | 3 | % | 2 | % | 43 | % | 43 | % | 19 | % | 20 | % | ||||||||||||
ASML Holding NV | (6 | %) | 5 | % | 46 | % | 46 | % | 25 | % | 25 | % | ||||||||||||
KLA-Tencor Corporation | (2 | %) | 4 | % | 58 | % | 58 | % | 28 | % | 29 | % | ||||||||||||
Lam Research Corporation | 21 | % | (1 | %) | 46 | % | 46 | % | 22 | % | 21 | % | ||||||||||||
Tokyo Electron Limited | 2 | % | (5 | %) | 39 | % | 40 | % | 17 | % | 16 | % | ||||||||||||
| Selected Small-Cap Semiconductor Capital Equipment Companies | ||||||||||||||||||||||||
ASM International NV | 7 | % | 2 | % | 44 | % | 43 | % | 17 | % | 17 | % | ||||||||||||
Axcelis Technologies Inc. | 45 | % | (1 | %) | 34 | % | 35 | % | 7 | % | 7 | % | ||||||||||||
Nanometrics Incorporated | 12 | % | 7 | % | 48 | % | 49 | % | 4 | % | 7 | % | ||||||||||||
Photronics Inc | 10 | % | 6 | % | 28 | % | 30 | % | 14 | % | 16 | % | ||||||||||||
Ultratech, Inc. | 3 | % | 7 | % | 45 | % | 47 | % | (6 | %) | 0 | % | ||||||||||||
Screen Holdings Co., Ltd. | 9 | % | (4 | %) | 30 | % | 31 | % | 9 | % | 9 | % | ||||||||||||
Observed Valuation Metrics
Calendar Year Based on Thomson Reuters
| Aggregate Value to Estimated Revenue | Aggregate Value to Estimated EBITDA | Price to Estimated Earnings | ||||||||||||||||||||||
| 2015 | 2016 | 2015 | 2016 | 2015 | 2016 | |||||||||||||||||||
| Selected Large-Cap Semiconductor Capital Equipment Companies | ||||||||||||||||||||||||
Applied Materials, Inc. | 2.3x | 2.3x | 10.0x | 9.3x | 16.5x | 14.7x | ||||||||||||||||||
ASML Holding NV | 5.8x | 5.5x | 19.9x | 18.7x | 27.7x | 25.0x | ||||||||||||||||||
KLA-Tencor Corporation | 4.1x | 3.9x | 13.3x | 11.9x | 20.1x | 17.7x | ||||||||||||||||||
Lam Research Corporation | 2.0x | 2.0x | 8.3x | 7.6x | 13.0x | 13.4x | ||||||||||||||||||
Tokyo Electron Limited | 1.7x | 1.8x | 7.5x | 9.3x | 16.2x | 19.2x | ||||||||||||||||||
| Selected Small-Cap Semiconductor Capital Equipment Companies | ||||||||||||||||||||||||
ASM International NV | 3.0x | 3.0x | 14.7x | 14.1x | 14.0x | 14.2x | ||||||||||||||||||
Axcelis Technologies Inc. | 1.0x | 1.0x | 12.8x | 10.2x | 23.2x | 22.5x | ||||||||||||||||||
Nanometrics Incorporated | 1.7x | 1.6x | 19.4x | 11.8x | 71.7x | 33.4x | ||||||||||||||||||
Photronics Inc | 1.6x | 1.5x | 5.1x | 4.4x | 17.2x | 14.6x | ||||||||||||||||||
Ultratech, Inc. | 1.4x | 1.3x | N.M. | 4.4x | N.M. | N.M. | ||||||||||||||||||
Screen Holdings Co., Ltd. | 0.8x | 0.8x | 7.3x | 7.5x | 13.7x | 14.4x | ||||||||||||||||||
The subsection under the heading “The Merger – Fairness Opinion of Morgan Stanley & Co. LLC – “Discounted Cash Flow Analysis”” is amended by adding the following immediately after the second use of the word “taxes” in the fourth full sentence on page 67 of the proxy statement:
“(assuming a 35% tax rate)”
The subsection under the heading “The Merger – Fairness Opinion of Morgan Stanley & Co. LLC – “Discounted Cash Flow Analysis”” is amended by adding the following immediately after the sixth full sentence of such subsection:
“The terminal value calculation is based on estimated 2020 unlevered free cash flow of $20MM, which normalizes capital expenditure such that it is equal to depreciation and amortization and normalizes working capital investment such that it is equal to 25% of the increase in 2020 revenue versus 2019 revenue.”
The subsection under the heading “The Merger – Fairness Opinion of Morgan Stanley & Co. LLC – “Discounted Cash Flow Analysis”” is amended by adding the following immediately after the second full sentence on page 68 of the proxy statement:
“The discount rate used by Morgan Stanley was calculated using an assumed equity market risk premium of 6.0%, a beta estimate of 1.42 based upon Barra financial databases, and an assumed risk-free rate of 2.21% based on the U.S. Government 10-year Treasury note yield of December 1, 2015 (the last full trading day prior to the meeting of the Board to approve and adopt the Merger Agreement, declare the advisability of the Merger Agreement and approve the transactions contemplated thereby, including the Merger).
Based on a terminal perpetual growth rate ranging from 1.0% to 3.0%, Morgan Stanley noted that the implied ratio of estimated terminal year aggregate value to estimated next-twelve-months free cash flow and estimated next-twelve-months Adjusted EBITDA less stock-based compensation expense, based on projections prepared by our management, were as follows:
| Perpetual Growth Rate | Implied Terminal Multiple | |||||||
Terminal Year Aggregate Value to Estimated Next-Twelve-Months Free Cash Flow | 1.0 | % | 10.7x | |||||
| 2.0 | % | 12.0x | ||||||
| 3.0 | % | 13.7x | ||||||
Terminal Year Aggregate Value to Estimated Next-Twelve-Months Adjusted EBITDA less Stock-based Compensation Expense | 1.0 | % | 5.1x | |||||
| 2.0 | % | 5.7x | ||||||
| 3.0 | % | 6.5x” | ||||||
The subsection under the heading “The Merger – Fairness Opinion of Morgan Stanley & Co. LLC – “Precedent Transactions Analysis”” on page 68 is amended by adding the following tables immediately preceding the first full paragraph on page 70 of the proxy statement:
Selected Semiconductor Capital Equipment Transactions
| Aggregate Value to Revenue | Aggregate Value to EBITDA | Stock Price Premium to | ||||||||||||||||||||||||||||||||
Target / Acquiror | Announce Date | Aggregate Value ($MM) | Equity Value ($MM) | Last Twelve Months | Next Twelve Months | Last Twelve Months | Next Twelve Months | 1-Day Prior Closing Price | 30-Day Average Closing Price | |||||||||||||||||||||||||
AMIS Holdings, Inc. / ON Semiconductor Corp. | 12/13/2007 | $ | 1,100 | $ | 911 | 1.8x | 1.7x | 6.9x | 6.4x | 38.0 | % | 31.9 | % | |||||||||||||||||||||
Axcelis Technologies Inc. / Sumitomo Corporation | 3/10/2008 | $ | 640 | $ | 627 | 1.6x | 1.7x | 76.3x | N.M. | 48.5 | % | 43.0 | % | |||||||||||||||||||||
Credence Systems Corporation / LTX Corp. | 6/20/2008 | $ | 139 | $ | 176 | 0.2x | 0.5x | 3.1x | 4.0x | 43.0 | % | 50.0 | % | |||||||||||||||||||||
Cymer, Inc. / ASML Holding NV | 10/17/2012 | $ | 2,382 | $ | 2,722 | 4.1x | 3.6x | 27.4x | 40.4x | 51.5 | % | 37.3 | % | |||||||||||||||||||||
Eagle Test Systems, Inc. / Teradyne Inc. | 9/1/2008 | $ | 166 | $ | 250 | 2.3x | 1.8x | 4.9x | N.A. | 10.0 | % | 19.0 | % | |||||||||||||||||||||
FSI International, Inc. / Tokyo Electron Limited | 8/13/2012 | $ | 207 | $ | 244 | 1.6x | 1.2x | 8.8x | N.A. | 53.5 | % | 68.6 | % | |||||||||||||||||||||
ICOS Vision Systems Corporation NV / KLA-Tencor Corporation | 2/21/2008 | $ | 493 | $ | 571 | 4.2x | 2.9x | 38.7x | 13.9x | 63.9 | % | 43.8 | % | |||||||||||||||||||||
KLA-Tencor Corporation / Lam Research Corporation | 10/21/2015 | $ | 11,470 | $ | 10,588 | 4.1x | 3.9x | 13.6x | 12.3x | 24.4 | % | 31.0 | % | |||||||||||||||||||||
LTX-Credence Corporation / Verigy, Ltd. | 11/18/2010 | $ | 345 | $ | 438 | 1.4x | 1.2x | 5.6x | 4.5x | 43.5 | % | 39.5 | % | |||||||||||||||||||||
Nextest Systems Corporation / Teradyne Inc. | 12/12/2007 | $ | 248 | $ | 325 | 4.1x | 3.7x | 56.0x | 13.4x | 67.0 | % | 50.0 | % | |||||||||||||||||||||
Novellus Systems, Inc. / Lam Research Corporation | 12/14/2011 | $ | 3,691 | $ | 3,237 | 2.3x | 2.7x | 8.6x | 11.0x | 28.0 | % | 30.2 | % | |||||||||||||||||||||
Roth & Rau AG / Meyer Burger AG | 4/11/2011 | $ | 457 | $ | 507 | 1.2x | 1.2x | N.M. | 11.3x | 12.8 | % | 40.5 | % | |||||||||||||||||||||
Semitool, Inc. / Applied Materials, Inc. | 11/17/2009 | $ | 345 | $ | 364 | 2.5x | 1.7x | N.M. | 10.5x | 31.0 | % | 36.1 | % | |||||||||||||||||||||
SEZ Group / Lam Research Corporation | 12/10/2007 | $ | 454 | $ | 592 | 1.4x | 1.2x | 21.3x | 16.7x | 39.2 | % | 66.3 | % | |||||||||||||||||||||
Tokyo Electron Limited / Applied Materials, Inc. | 9/24/2013 | $ | 7,120 | $ | 9,338 | 1.5x | 1.1x | 33.5x | 8.5x | 6.2 | % | 21.4 | % | |||||||||||||||||||||
Varian Semiconductor Equipment Associates Inc. / Applied Materials, Inc. | 5/4/2011 | $ | 4,346 | $ | 4,899 | 3.8x | 3.5x | 14.1x | 12.7x | 55.4 | % | 37.9 | % | |||||||||||||||||||||
Verigy, Ltd. / Advantest Corporation | 12/19/2010 | $ | 840 | $ | 1,132 | 1.2x | 1.1x | 10.9x | 9.0x | 64.1 | % | 67.2 | % | |||||||||||||||||||||
Selected Technology Transactions
| Stock Price Premium To | ||||||||||||||
Target / Acquiror | Announcement Date | 1-Day Prior Closing Price | 30-Day Average Price Closing Price | Last Twelve Months High Price | ||||||||||
Accelrys Inc. / Dassault Systemes SA | 1/30/2014 | 28.6 | % | 27 | % | 18.0 | % | |||||||
Actuate Corporation / OpenText Corporation | 12/5/2014 | 88.6 | % | 72 | % | (18.3 | %) | |||||||
Advent Software, Inc. / TPG Capital, L.P. | 4/10/2013 | (7.2 | %) | (7 | %) | (15.5 | %) | |||||||
Anaren, Inc. / Veritas Capital | 11/4/2013 | 12.4 | % | 9 | % | 4.5 | % | |||||||
Anite plc / Keysight Technologies Netherlands B.V. | 6/16/2015 | 22.3 | % | 33 | % | 16.7 | % | |||||||
ChyronHego Corporation / Vector Capital | 11/17/2014 | 4.1 | % | 7 | % | (34.4 | %) | |||||||
Cobra Electronics Corporation / Monomoy Capital Partners | 8/28/2014 | 8.3 | % | 8 | % | 1.2 | % | |||||||
Dot Hill Systems Corp. / Seagate Technology Public Limited Company | 8/18/2015 | 79.2 | % | 63 | % | 30.2 | % | |||||||
E2open, Inc. / Insight Venture Partners | 2/5/2015 | 40.8 | % | 18 | % | (71.2 | %) | |||||||
Emulex Corporation / Avago Technologies Limited | 2/25/2015 | 26.4 | % | 22 | % | 4.3 | % | |||||||
EZchip Semiconductor Ltd. / Mellanox Technologies, Ltd. | 9/30/2015 | 16.0 | % | 15 | % | 1.7 | % | |||||||
Globecomm Systems Inc. / Wasserstein & Co. | 8/26/2013 | (1.7 | %) | (1 | %) | (5.1 | %) | |||||||
Hutchinson Technology Inc. / TDK Corporation | 11/2/2015 | 128.6 | % | 129 | % | (11.1 | %) | |||||||
Innovation Group plc / Carlyle Group LP | 8/28/2015 | 14.3 | % | 21 | % | 11.1 | % | |||||||
Integrated Memory Logic Limited / Exar Corp. | 4/27/2014 | 34.6 | % | 28 | % | 4.0 | % | |||||||
Integrated Silicon Solution, Inc. / Cypress Semiconductor Corporation | 5/13/2015 | 5.3 | % | 7 | % | 4.6 | % | |||||||
JA Solar Holdings Co., Ltd. / Investor Group | 6/8/2015 | 19.9 | % | 3 | % | (14.3 | %) | |||||||
Magnetek Inc. / Columbus McKinnon Corporation | 7/27/2015 | 55.0 | % | 49 | % | 0.1 | % | |||||||
Merge Healthcare Incorporated / International Business Machines Corporation | 8/6/2015 | 31.8 | % | 42 | % | 15.0 | % | |||||||
Micrel Inc. / Microchip Technology Inc. | 5/7/2015 | 3.1 | % | (3 | %) | (10.9 | %) | |||||||
Millennial Media Inc. / AOL Inc. | 9/3/2015 | 30.6 | % | 20 | % | (27.1 | %) | |||||||
Mindspeed Technologies Inc. / M/A-Com Technology Solutions Holdings, Inc. | 11/5/2013 | 66.1 | % | 70 | % | (4.2 | %) | |||||||
Oplink Communications, Inc. / Koch Industries, Inc. | 11/19/2014 | 14.1 | % | 68 | % | 12.1 | % | |||||||
Peregrine Semiconductor Corporation / Murata Manufacturing Co., Ltd. | 8/22/2014 | 62.5 | % | 80 | % | 6.3 | % | |||||||
Performance Technologies Inc. / Sonus Networks, Inc. | 12/13/2013 | 25.8 | % | 25 | % | (1.8 | %) | |||||||
Pericom Semiconductor Corporation / Diodes Incorporated | 9/3/2015 | 39.6 | % | 40 | % | 1.1 | % | |||||||
Pericom Semiconductor Corporation / Montage Technology Group Limited | 9/30/2015 | 9.5 | % | 22 | % | 6.0 | % | |||||||
Planar Systems Inc. / Leyard American Corporation | 8/12/2015 | 40.0 | % | 57 | % | (28.2 | %) | |||||||
PLX Technology Inc. / Avago Technologies Limited | 6/23/2014 | 9.4 | % | 9 | % | (5.9 | %) | |||||||
Power-One, Inc. / ABB Ltd. | 4/22/2013 | 57.2 | % | 52 | % | (11.3 | %) | |||||||
Procera Networks, Inc. / Francisco Partners Management LLC | 4/22/2015 | 20.9 | % | 21 | % | 7.3 | % | |||||||
Rally Software Development Corp. / CA, Inc. | 5/27/2015 | 42.9 | % | 35 | % | (41.7 | %) | |||||||
Richtek Technology Corp. / MediaTek Inc. | 9/7/2015 | 6.0 | % | 20 | % | 1.0 | % | |||||||
Silicon Image, Inc./ Lattice Semiconductor Corporation | 1/27/2015 | 23.7 | % | 28 | % | (0.4 | %) | |||||||
STEC, Inc./ HGST, Inc. | 6/24/2013 | 90.8 | % | 98 | % | (18.3 | %) | |||||||
Supertex Inc. / Microchip Technology Inc. | 2/10/2014 | 35.4 | % | 28 | % | 19.2 | % | |||||||
Symmetricom Inc. / Microsemi Corporation | 10/21/2013 | 44.5 | % | 47 | % | 7.8 | % | |||||||
Tellabs Inc. / Marlin Equity Partners, LLC | 10/21/2013 | 4.3 | % | 5 | % | (32.5 | %) | |||||||
Telular Corporation / Avista Capital Holdings, L.P. | 4/29/2013 | 30.9 | % | 27 | % | 9.7 | % | |||||||
The Active Network, Inc. / Vista Equity Partners | 9/30/2013 | 27.2 | % | 43 | % | 13.1 | % | |||||||
Ubisoft Entertainment SA/ Vivendi SA | 10/20/2015 | (10.2 | %) | 0 | % | (10.8 | %) | |||||||
Vitesse Semiconductor Corp. / Microsemi Corporation | 3/18/2015 | 35.7 | % | 32 | % | 12.6 | % | |||||||
Vocus Inc. / GTCR, LLC | 4/7/2014 | 47.8 | % | 32 | % | 18.0 | % | |||||||
Volterra Semiconductor Corporation / Maxim Integrated Products, Inc. | 8/15/2013 | 55.4 | % | 51 | % | (10.5 | %) | |||||||
Websense, Inc. / Vista Equity Partners | 5/20/2013 | 28.7 | % | 49 | % | 27.8 | % | |||||||