December 19, 2013

Law360 quotes Chuck Morton on influential deal in 2013

1 min

In a December 18, 2013 article reflecting on the most influential corporate transactions of 2013, Law360 quoted Venable partner Chuck Morton on Thoma Bravo LLC’s recent sale of California mobile banking firm Digital Insight Corp. Bravo, a private equity firm, purchased Digital for $1.025 billion in August, and resold the company 124 days later for $1.65 billion. Morton said this transaction illustrated both the demand for such assets and private equity firms’ gusto in the marketplace.

Commenting on the growing allure of digital content companies, he said “It's really all about monetizing the data that's becoming increasingly about privacy and security.”

Speaking about the psyche of the M&A world, Morton said “The deal community really is influenced by momentum, and if people see others becoming more active, I think there's a fear that they're losing out on prospects.”