Another Billion exit!
Private equity firm Silver Lake has sold financial communications business IPC to Centrebridge Partners for $1.2 billion. SilverLake acquired IPC from Goldman Sachs Group Inc's private equity arm in 2006 for about $800 million. IPC currently claims a network of 5000 customer sites over 630 cities for its voice and data network platforms and an installed base of approximately 118,000 trading positions deployed worldwide. The New Jersey-headquartered company employs 900 people. Neil Barua, chief executive officer of IPC says SilverLake's decision to sell up follows one of the company's best years.