NEW YORK (Reuters) – Investment firm Centerbridge Partners LP is close to a deal in buying IPC Systems Inc, a communications company for financial trading, for more than $1.1 billion (702.68 million pounds) including debt, according to a report by the Wall Street Journal on Sunday citing people familiar with the matter.
IPC is owned by Silver Lake Partners LP, a technology-focused private-equity firm. Silver Lake bought IPC from Goldman Sachs Group’s private equity arm in 2006 for about $800 million.
Silver Lake started exploring a sale of IPC earlier this year, and a deal with Centerbridge could be announced as soon as this week, the report said.
In October, sources familiar with the matter told Reuters that Silver Lake was looking to sell IPC.
Representatives for Centerbridge, Silver Lake and IPC Systems could not immediately be reached for comment.
(Reporting By Catherine Ngai; Editing by Bernard Orr; Editing by Bernard Orr)
Centerbridge nearing deal to buy IPC Systems from Silver Lake - report
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