Publications
Publications
- February 2017 (Revised February 2018)
- HBS Case Collection
Frank Baker: Siris Capital Group and Titan Systems
By: Steven Rogers and Derrick Collins
Abstract
Private equity firm, Siris Capital Group, must decide if they should raise their offer to take Titan Telecom private by acquiring its publicly traded stock. Siris’ decision to pay a premium for Titan must be made in the context of their unique (and somewhat complex) investment strategy that focuses on investment targets that have both mission-critical products or services that are approaching obsolescence but producing predictable cash flows as well as new products or services on the horizon with strong growth potential. Further complicating the decision is the fact that Siris is in the midst of raising its second private equity fund and seeking to secure co-investment capital from many of the same investors they are pursuing as limited partners for their new fund.
Keywords
Acquisition; Leveraged Buyouts; Mergers and Acquisitions; Private Equity; Mobile Technology; Financial Services Industry; Communications Industry; Telecommunications Industry; United States
Citation
Rogers, Steven, and Derrick Collins. "Frank Baker: Siris Capital Group and Titan Systems." Harvard Business School Case 317-036, February 2017. (Revised February 2018.)