With the credit crunch, it seems that private equity is losing its luster, right? Maybe not. After all, with better valuations, the opportunities may be looking good.
Today we learned that the vice president and chief financial officer of Internap Network Services (NASDAQ: INAP), David Buckel, is leaving. And, yes, he's exploring opportunities in the private equity space.
Buckel has spent four years at the company, which is an operator of a content delivery network (CDN). Basically, this allows for improved distribution of online content and applications. There are more than 3,500 customers and revenues increased 32.7% to $60.9 million in Q3.
No doubt, this is far from good news for Internap. Keep in mind that the company must compete against fierce rivals, such as Akamai Technologies (NASDAQ: AKAM) and Limelight Networks (NASDAQ: LLNW). In fact, there are some signs of a price war.
So far in today's trading, Internap's stock is down nearly 8% to $10.82.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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