May 1, 2018 | Announcements

GCA Advises RPX on Its Acquisition by HGGC

GCA is pleased to announce that our client RPX Corporation, the leading provider of patent risk and discovery management solutions, today announced it has entered into a definitive agreement to be acquired by HGGC, a leading middle market private equity firm, in an all-cash transaction valued at approximately $555M.

Since its founding in 2008, RPX Corporation (NASDAQ: RPXC) has introduced efficiency into the patent market by providing a rational alternative to litigation. By acquiring patents and patent rights, RPX helps to mitigate and manage patent risk for its growing client network.

Marty Roberts, RPX Chief Executive Officer and President, said: “We are thrilled to partner with HGGC to achieve our next phase of growth for our patent risk and discovery management businesses. This transaction provides RPX with strong financial support and added flexibility to achieve our longer-term prospects, while providing our current stockholders with secure near-term value. Importantly, HGGC is experienced in building technology-enabled services businesses and is fully aligned with our global team’s strategy in patent risk and discovery management services. With this transaction, our clients at RPX and Inventus will continue to see an uninterrupted high level of service, and we can expect even greater levels of investment in client service going forward.”

Rich Lawson, HGGC Chief Executive Officer and Co-founder, commented: “We are big believers in RPX’s mission to deliver patent risk and discovery management solutions to its clients. RPX’s and Inventus’s businesses begin and end with the trust of their clients, and we will continue to serve their best interests. We fully support the vision of the Company to build a much-needed clearinghouse in the broader market for patents and will continue RPX’s decade-long commitment to never assert patents.”

David Chung, Executive Director of HGGC added: “Thanks to the vision and efforts of the original founding team, the current leadership and the many enormously capable people at the Company who drive results for clients day in and day out, we believe RPX and Inventus have core strengths and advantages that position them well for long-term success. We are fully supportive of the Company’s management team as a whole, and we will thoughtfully review, in partnership with the senior leadership team, where additions could be made for the ultimate benefit of the Company’s clients.”

Under the terms of the agreement, HGGC will initiate a tender offer for RPX shares at a price of $10.50 per share in cash. The transaction is expected to close in the second or third quarter of 2018, subject to customary closing conditions and regulatory approvals.

GCA is acting as exclusive financial advisor to RPX on this transaction. This transaction is our latest in the Tech-Enabled Services sector, as we recently advised FieldEdge on its sale to Advent International and WorkMarket on its sale to ADP.

About GCA
GCA is a global investment bank that provides strategic M&A, capital markets and private funds advisory services to growth companies and market leaders. The firm offers worldwide coverage with over 400 professionals in 18 offices across America, Asia and Europe. Built by the people that run the business, GCA is a firm of experts who focus on deals that require commitment, original perspective, skill and exceptional networks. Learn more at www.gcaglobal.com.

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