PrivateEquity
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SoundCloud is close to getting a lifeline
It's grim times for SoundCloud between massive job cuts and talk of mismanagement, but help might be coming soon... at a steep cost. Bloomberg sources understand that SoundCloud is in "advanced" talks to sell stakes in the company to two (as yet unnamed) private equity firms. The deals would ensure the streaming music service stays afloat, but it would also hand majority control to outside companies. In essence, SoundCloud would be giving up its vaunted independence in order to keep the lights on.
Nokia finishes offloading Vertu, rumors claim Vertu plans a matching switch to Android
Nokia has ended one of the more significant chapters in its tumultuous history: the Finnish phone giant has finished divesting Vertu to private equity firm EQT VI, shedding direct control of the definitive luxury phone brand. The formal switch lets Nokia keep a 10 percent stake and move 1,000 staffers to the newly independent company. Where Vertu goes next may be more intriguing, however. There's no official word on any change of direction, but that hasn't stopped tipsters from claiming to TechCrunch that there's a big shakeup ahead. Supposedly, former Nokia VP Anssi Vanjoki will finally get the phone maker CEO position he's been looking for through a Vertu spot, and he won't simply follow in his former employer's footsteps -- upcoming Vertu phones may use Android, not Windows Phone. While it's a very unconfirmed rumor, a switch-up wouldn't be completely surprising when Vertu is still an all-Symbian house that needs more than just a few extra jewels to stay relevant.
Nokia reportedly looking to sell Vertu, Russian oligarchs reportedly upset
It looks like Nokia has finally grown weary of the one percent. According to a report from the Financial Times, the Finnish manufacturer is looking to sell off its Vertu line of luxury handsets, as part of the firm's ongoing restructuring process. Citing a source "familiar with the process," the FT went on to explain that Goldman Sachs is overseeing the sale, though it's still in a nascent stage of development. The brand has reportedly attracted the interest of unnamed private equity firms, though the same insider claims that luxury goods vendors may toss their hats in the ring, as well. Neither Nokia nor Goldman have commented on the report, but we'll be sure to let you know when they do.
Nokia Siemens Networks chooses a suitor: its own shareholders
A lot of marriages hit rough patches from time to time, and it's no different for companies and their shareholders. The last three months have likely been especially tumultuous for Nokia Siemens Networks as it played the field, conducting a review to assess potential private equity interest. In the end, however, NSN determined the grass was indeed greener on its own side. According to the press release (found after the break), it concluded that "the current shareholders are in the best position to further enhance the value of the company." Given that NSN's reported three successive quarters of year-on-year growth, the troubled relationship appears to be out of hot water for now -- we just hope the shareholders are willing to kiss and make up.
Hasselblad acquired by Ventizz Capital Fund, will explore 'brand new markets'
Change may be afoot over at Hasselblad, now that the high-end camera maker has been acquired by Ventizz Capital Fund IV -- a private equity firm based in Switzerland and Germany. Neither party disclosed any financial details, but Ventizz said it will implement "no major structural or key management changes" at its newly acquired company. It remains to be seen whether or not this acquisition brings about any changes at the strategic level, though Hasselblad CEO Larry Hansen said his company is looking forward to exploring "brand new markets" -- including, we hope, the "sub-$10,000" one. Full PR after the break. [Thanks, Rene]
