HGGC has completed a tender offer that was announced by one of its affiliates, Riptide purchaser, Inc. After the completion of the acquisition, Purchaser has acquired all outstanding shares of RPX common stock. According to the CEO and co-founder of HGGC, Rich Lawson, the company is happy to have partnered with the management of RPX. They are happy to work with our RPX going forward and ensuring that our RPX meets the growing needs of its client-network. In the acquisition, the deal was completed without the affirmative vote of other RPX shareholders.
HGGC is confident that it will help RPX to achieve its next goals of growth and strengthen its opportunities in discovery management and patent risk services. Steven Leistner, the principal of HGGC, argued that the deal would create an environment whereby RPX will manage to grow its operations to a wide range of clients. RPX has a mission of investing in opportunities that meet the needs of the clients in long-term while at the same time providing innovative services which clients can rely on. By working with the new partner, they will be able to meet their goals and those of Inventus. After the completion of the merger, RPX will now be one of the subsidiaries of HGGC.
Goldman Sachs, mega-M&A purveyor, looks for smaller deals https://t.co/cdO8nDWPil
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RPX provides discovery management and patent risk solutions. It was founded in 2008 and has introduced efficiency in the market by providing alternative solutions to litigation. The company is based in San Francisco and uses the approach of deep patent expertise, principal capital, and client contributions to generate an improved patent purchasing power. RPX has managed to mitigate patent risk for its wide range of clients by acquiring patents and patent rights. As of March 2018, RPX had over $2.4 billion investments in patent assets and rights on behalf of over 320 clients in different keys sectors such as consumer, electronics, e-commerce, software financial services, mobile communications, semiconductors, and networking.
HGGC is a top middle-market private equity firm with capital commitments of over $4.3 billion. It is best in alto California and known for its advantaged investing model that enables it to source and acquire attractive business opportunities. So far it has completed over 19 investments recapitalizations and add-on acquisitions with a value of more than 17 billion.