Megabuyte - Technology sector intelligence

Oakley Capital has sold its SME-focussed hosting business, Host Europe, to Montagu Private Equity for £220m. This not only represents a decent return for Oakley, but also a healthy exit multiple, some 10% above our estimated valuation when we initiated on Host Europe in February (Premium Plus readers see here). We spoke this morning with Oakley founder Peter Dubens; Premium subscribers can read our first thoughts on the deal in Newswire Plus.

With 30 years of heritage; Snell is the new kid on the digital media block

We initiate coverage this morning on digital media specialist Snell. The company was essentially created in 2009 by the merger of two private equity backed companies; Snell & Wilcox and Pro-Bel. Founded in 1973, Snell & Wilcox became independent in 2002 after a successful £22m MBO backed by Advent Venture Partners and, in November 2003, Pro-Bel had completed its own MBO (from its parent Chyron Corporation) valued at £11m and funded by Lloyd's Development Capital. Premium subscribers can read our full review of the company in Newswire Plus.