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07-20-2010, 09:02 PM #51Newbie
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07-20-2010, 09:06 PM #52Eternal Member
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07-20-2010, 09:08 PM #53VPS Like a Boss!
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07-20-2010, 09:27 PM #54Junior Guru
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07-20-2010, 10:23 PM #55Web Hosting Master
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07-20-2010, 10:40 PM #56******* Unleaded
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As Sailor already pointed out:
Softlayer Technologies Inc.'s proposed $230 million senior secured credit facilities. Proceeds from the debt issue, along with approximately $190 million of new private common equity, will be used to fund GI Partners' purchase of a majority controlling interest in Softlayer, repay $74.6 million of existing debt, and for transaction costs. Our default simulation has the company defaulting under the secured credit facilities during 2014,
Don't forget that bond rating agencies are not particularly keen to say bad things. Saying bad things too many times get you left out in the cold.edgedirector.com
managed dns global failover and load balance (gslb)
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07-20-2010, 10:46 PM #57New Member
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Investors don't pay $400 million for financially strapped companies. And the ratings agencies just got called on the carpet by Congress for calling bundles of subprime mortgages AAA. They're going out of their way to be negative these days.
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07-20-2010, 10:52 PM #58Reseller Hosting Specialist
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07-21-2010, 01:35 AM #59Newbie
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I understand that but it just surprises me how company's that has such large amounts of customers are unsteady and the users really never know about it until the last minute.
And it is difficult to really determine the financial stability of a company unless they fully disclose their financial info. with the rest of the world. I am not saying anyone here is financially unstable or facing liquidity issues, because I myself have not done the proper research. But you cannot always trust the sales guy on the other side saying, "we are financially sound, we will be around forever!" If you can find some of the numbers behind the books, try using some of the ratios from the following link to help you come up with more knowledgeable conclusions:
http://www.netmba.com/finance/financial/ratios/
Investors don't pay $400 million for financially strapped companies.
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07-21-2010, 03:52 AM #60Junior Guru Wannabe
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100% agree.
If I put on the "numbers" hat for a few minutes, and assuming the general statements in the thread are true (current SL debt levels, GI purchase price and majority ownership)....
As an investor, I can't imagine buying a majority stake in a company a) who's debt levels were getting a little too high for my personal tastes, and b) forward market movement seems to have stalled (at least if you look around here anyway), unless you have a plan to improve the business financials. Remember, if SL were to go belly-up, they lose everything.
There are two ways I can see this going. One is to improve the revenue side - that is use the new assets SL has acquired and increase sales and marketing to improve business. (Probably make some sort of bigger 'cloud' push as its a buzzword a finance-guy can get his head around easily.) the other way is to reduce and control expenses.
You will likely do both, but only one to a lesser extent. The low-hanging-fruit kind of stuff. Generally pump up PR and whatnot, or trim waste/excess.
Lets not forget they are the TP investment in the wings as well. What financial guy isn't going to look at two companies in virtually an identical business with similar product lines and say "merge 'em?"
I'm trying to see a positive side but I'm having a hell of a hard time.
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07-21-2010, 04:29 AM #61Web Hosting Master
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Confirming what Ryan said in his original post. Deal is done.
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07-21-2010, 05:50 AM #62Junior Guru Wannabe
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wow... that really sucks
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07-21-2010, 06:06 AM #63WHT Addict
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07-21-2010, 06:33 AM #64Junior Guru
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07-21-2010, 06:40 AM #65Web Hosting Master
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You are missing a lot of numbers then.
There was a change in the accounting standards a few years ago that made things like this possible and even a good thing on the books especially if you are looking at going public or releasing an IPO.
It is a line item called intangible assets. It includes things like projected earnings and good will.
As the law now stands you cannot carry internally generated goodwill or projected earnings on your books. How ever if you buy a company you can take those numbers and assign anything you want to them and inflate or pump up your assets to look really really good.
For instance you have to figure a name like coke a cola would be worth billions in the name and brand recognition alone, yet coke cannot put that as an asset on their balance sheet, yet if someone were to buy coke they could put a $$ figure to that name and show it on their books as an intangible asset.
Now I have no idea what GI partners are going to do with SoftLayer or if it is making money etc.. but if you see an IPO come down the line from this then look for that line item intangable assets on the balance sheet and I suspect it will be quite large showing as part of their assets which will help pump up the networth of the company for the IPO.
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07-21-2010, 07:09 AM #66Web Hosting Master
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I wonder if this will have any effect on the RAX position, so far it looks untouched: http://finance.yahoo.com/q?s=RAX - if anything it looks like it had a positive effect
Ditlev Bredahl. CEO,
OnApp.com + Cloud.net & CDN.net
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07-21-2010, 11:06 AM #67Web Hosting Master
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godaddy
Anyone else have any information on godaddy being part of this deal?
I heard from no less than 5 different people last night that godaddy is part of this deal.
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07-21-2010, 11:07 AM #68Newbie
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07-21-2010, 11:14 AM #69Web Hosting Master
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07-21-2010, 11:19 AM #70WebHosting Master
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07-21-2010, 11:35 AM #71Web Hosting Master
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07-21-2010, 11:47 AM #72Backup Master
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I contacted George from the Softlayer Marketing department. I actually wouldn't have thought that he would write such an long e-mail but I got all the information needed. I can't say too much since the informations provided are confidential:
** Company and Customer Confidential – not for publication or distribution **
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07-21-2010, 11:49 AM #73Web Hosting Master
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All I can do is repeat what Ditlev has said, 100TB clients will NOT experience any change and no one needs to fear anything at all, things will only get better in 100TB as we continue developing the business
General Manager, 100TB100TB.com -> 21 Datacenter Locations
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07-21-2010, 11:52 AM #74Disabled
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Big news for the industry, that's for sure.
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07-21-2010, 12:36 PM #75WebHosting Master
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I hope that's true, but I don't think mere words are of much use.
Perhaps more solid evidence, such as clearer future plans with SL, would be helpful for your current and prospective customers.
The general consensus is TP management over SL is not a good thing, as they have messed up another merger before.
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