2010

Year

Technology

Sector

Acentic GMBH

Client

PhilWeb Corporation & ISM Communications

Acquired By

Acentic GMBH / PhilWeb Corporation & ISM Communications

Cavendish Corporate Finance LLP is pleased to announce the sale of a controlling stake in Acentic, one of Europe’s largest providers of digital television and internet access to 4 and 5 star hotel groups.

The 65% stake owned by GI Partners (a leading private equity firm focused on asset backed investments in North America and Western Europe) was acquired by a new Joint Venture company established by Philippines based Philweb Corporation (WEB) and ISM Communications Corporation (ISM). The controlling stake was acquired for a cash consideration of €19.5 million. The remaining 35% of Acentic will continue to be owned by Niantic Holdings GmbH, a German company controlled by Dr. Andreas Jacobs.

Acentic is an international provider of digital and internet protocol (IP) converged services to hotels. Acentic’s technology and service platform delivers entertainment (including video on demand) and other revenue generation tools which provide a unique communication system that meets the evolving lifestyles of guests. Acentic’s digital television services and high speed internet access are in many of the world’s leading hotel chains including Accor, Dorint, Intercontinental Hotel Group, Hilton, Hyatt, Maritim, Marriott, Mövenpick and Starwood. Operating in more than 30 countries across Europe, the Middle East and Africa, Acentic has approximately 200,000 hotel rooms under contract and is the second largest in-room entertainment service provider in Europe.

WEB and ISM see Acentic as a perfect fit for the information technology and telecommunications business of ISM and the gaming expertise of WEB. The acquisition will enable Acentic to grow its predominantly European market to include the Asia-Pacific region, the fastest growing hotel market in the world.

The transaction was led by Cavendish John Farrugia

Commenting on the transaction, John Farrugia said:

”We were pleased to support Phil Kaziewicz and Forbes Stuart of GI Partners in this transaction. Cavendish generated a significant interest in Acentic from private equity investors across Europe as well as international trade interest. This wide international buyer reach demonstrates the benefit of Cavendish’s membership of M&A International Inc, the world’s leading alliance of corporate finance firms.

The sale of Acentic to WEB and ISM, with their expansion and development plans, is a huge endorsement of the Acentic management team, who have built the business to its current size and will also stay with the new business owners.”

 

Key Contacts

Hugh Ripley

Senior Analyst

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Emily Hill

Executive

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Chris Malcolm

Director

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Steph Frayne

Executive

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Rebecca McCredie

Associate Director

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Ben Goldring

Director

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Mike Dinsdale

Associate Director

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Chirag Gohil

Senior Executive

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Jon Edirmanasinghe

Partner

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John Farrugia

Partner, Technology

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