NSO Group Technologies Update
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The consultancy Berkeley Research Group is lined up to manage a private equity fund that owns the Israeli spyware maker NSO Group, which will give California companies an important voice in the future of NSO.
Investors in the Novalpina Capital Private Equity Fund, which acquired a surveillance company this month in 2019, have taken a very unusual step. Exile Novalpina Because of the dispute between its co-founders.
The two billion-dollar fund’s largest investors have now opted for BRG instead of Novalpina, two people aware of the issue, but the decision has not yet been formally approved and investors have said. You need to vote for the appointment until August 6.
If appointed, BRG will be empowered to return funds to investors by liquidating Novalpina’s funds and selling the three owned companies, including NSO, at the highest possible price. BRG declined to comment.
NSO faces a proceeding from Facebook over allegations of using WhatsApp to send malware to more than 1,000 customers. This can complicate the sales process.
This month is report According to journalism nonprofit Forbidden Stories and 17 media partners, NSO’s software was used to target the phones of journalists, activists and people close to the murdered journalist Jamal Khashoggi.
NSO disputed Facebook’s claim and described the Forbidden Stories report as “full of false assumptions and unsubstantiated theories.”
The Novalpina Fund, along with NSO, owns the Estonian gambling company Olympic Entertainment Group and the French pharmaceutical company Laboratoire XO.
Four people associated with Novalpina, including two private-equity firm co-founders Stephen Peel and Stephankowski, are on the board of directors of NSO. The RBG deal, if agreed, would probably allow consultancy to replace them, two people involved in the process said.
The move to take control of the fund from private equity firms is a very rare step at the pinnacle of months of turmoil in Novalpina, with investors co-founders Peel, Kowski and Bastian Luken. Too many things that happened after concluding that the relationship between them had deteriorated made them no longer able to cooperate in the investment, attendees said.
The vote to expel Novalpina was backed by investors who accounted for 99.6 percent of the fund’s value, two people with knowledge of the matter said.
Novalpina acquired NSO Group from private equity firm Francisco Partners in February 2019, which was worth $ 1 billion.
Headquartered in California, BRG follows its website to advise companies on corporate finance, performance improvement, disputes and investigations.
The company’s asset management business “acts as a sub-advisor or alternative asset management company specializing in managing challenged or tail-end investments,” to “maximize the return of capital to investors.” It works.
Berkeley Research Group Lined Up to Run NSO’s Private Equity Owner
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