Private equity firm Bain acquires Apex Tools in $1.6bn deal

US professional, medical, industrial and commercial solutions provider Danaher Corp (NYSE:DHR) and Irish electrical components and tools maker Cooper Industries Plc (NYSE:CBE) said on Wednesday they had struck a definitive deal to sell their 50/50 joint venture Apex Tool Group LLC to private equity firm Bain Capital LLC for some USD1.6bn (EUR1.2bn).

The transaction is seen to be wrapped up in the first half of next year, after it is cleared by regulators.

Danaher expects after-tax net proceeds from the deal to amount to some USD650m.

News agency Bloomberg had reported on 20 September, quoting an unnamed source, that the parties were in advanced negotiations on a potential transaction in which Bain Capital had emerged as a leading bidder and which might carry a price tag in the range between USD1.5bn and USD1.8bn.

Apex Tool, which specialises in tools manufacture, is headquartered in Sparks, in the US state of Maryland. The company was set up in 2010 as a result of the amalgamation of Danaher Tool Group and Cooper Tools, the former tool operations of its current shareholders. Apex Tools is owner of over 30 brands, including Crescent, GearWrench, Armstrong and Weller. The company operates in more than 30 countries via a 7,600-strong staff.

Accenture acquires New York-based digital marketeer avVenta

International management consulting, technology services and outsourcing firm Accenture Plc (NYSE:ACN) unveiled the acquisition of privately held, digital marketing production services provider avVenta Worldwide, in a move to enhance its marketing services portfolio aimed at chief marketing officers (CMOs).

The buyer did not disclose the value of the transaction.

New York-based avVenta started operations in 2005 and has an additional office in Charleston, South Carolina and a centre of excellence in San Jose, Costa Rica. It offers digital production, marketing services and platform support to more than 130 top global brands, including major companies in the pharmaceutical, technology and travel sector.

The combination of its digital production and design processes with Accenture Interactive’s marketing operations, technology and analytics services will provide CMOs with solutions to help increase return on their marketing investments, Accenture Interactive’s global managing director Brian Whipple said in a comment.

Jay Noce, avVenta’s CEO, sees the deal to result in a powerful portfolio of marketing services combining avVenta’s near shore digital production operation and Accenture’s global delivery capabilities, he said. avVenta’s capabilities and delivery model complement Accenture Interactive’s suite of business services, helping it to better cover the end-to-end needs of complex marketing organizations, he explained.

Accenture is present in over 120 countries where it employs 257,000 staff. For the fiscal year to 31 August 2012, the company delivered revenues of USD27.9bn (EUR21.7bn), it said.

ARRIS releases D312 CMTS software

ARRIS Group, Inc. (NASDAQ: ARRS) announced in-service availability of Release 8.1 software for its global industry-leading CMTS, further enhancing performance and value for the installed base of C4 CMTS and C4c CMTS products.

ARRIS Group, Inc. (NASDAQ: ARRS) announced in-service availability of Release 8.1 software for its global industry-leading CMTS, further enhancing performance and value for the installed base of C4 CMTS and C4c CMTS products.

The C4 CMTS has been shipping in volume for over ten years, making it one of the industry’s most successful CMTS platforms. C4 CMTS customers have come to rely on its availability, performance, density, and cost-effectiveness and can expect more of the same with Release 8.1. Release 8.1, in conjunction with the installation of a System Control Module 3, delivers improved performance for control plane-related tasks including IP Detail Record, Simple Network Management Protocol and Command Line Interface ; increases in IPv6 route scaling; additional DSG feature support; and improved support for Lawful Intercept applications in Europe. These features further augment existing C4 CMTS trademark capabilities, such as hitless failover and high scaling of subscriber devices.

To learn more about the C4 CMTS visit www.arrisi.com/get/c4.