ChoicePoint wraps up sale of govt. software units
Atlanta Business Chronicle
ChoicePoint Inc. has divested its i2 Inc. and i2 Ltd. government software business to Silver Lake Sumeru for $185 million in cash.
Alpharetta, Ga.-based ChoicePoint (NYSE: CPS) had already reclassified the operations of i2 as discontinued operations in the fourth quarter of 2007 as part of its plan to sell businesses that don't fit within its focus.
Merrill Lynch & Co. and Wachovia Capital Markets served as financial adviser to ChoicePoint, while King & Spalding LLP served as its legal adviser.
ChoicePoint, an identification and credential verification services provider, is set to be acquired by Reed Elsevier in a $4.1 billion deal.
Menlo Park, Calif.-based Silver Lake Sumeru is a fund within Silver Lake, a private equity firm focused on making large-scale investments in leading technology companies.
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