Marlin Equity Partners Acquires Three Compuware Business Units for $160M

Marlin Equity Partners, a private equity firm focused on providing corporate parents, shareholders and other stakeholders, acquired Compuware Corp.’s three business units for a total cash consideration of $160 million.

Compuware–which provides testing, management and development software–will sell its Changepoint, Professional Services and Uniface businesses to the private-equity firm. The deal is expected to close this month.

Activist investor Starboard Value LP wrote a letter to Compuware Chief Executive Robert Paul in November suggesting strategic changes such as selling its Changepoint and Uniface businesses, exploring a sale leaseback of its corporate headquarters and property in Detroit, and making changes to its board.

Starboard said the company’s turnaround efforts had taken too long, creating a significant overhang on the stock price.

“This development, combined with our cost-cutting initiatives, will accelerate the pace of the company’s topline revenue growth and result in future profitability gains,” Mr. Paul said Wednesday.

Source: Wall Street Journal


Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Marlin Equity Partners, Shareholders, Stakeholders, Compuware Corp., Changepoint, Professional Services, Uniface, Starboard Value LP, Robert Paul, Detroit.

About Richard Wilson