Discovery Group

Discovery Group Wants Internap Sold

  July 7, 2015   Board of Directors Internap Corporation c/o Corporate Secretary One Ravinia Drive Suite 1300 Atlanta, GA 30346 Dear Directors: Discovery Group (“Discovery”) is a large shareholder of Internap Corporation (“Internap” or the “Company”) with ownership of approximately 5.5% of the outstanding shares. We have extensively researched Internap’s competitive advantages and growth…

Discovery Group Files 13D on INAP

Purpose of Transaction The Reporting Persons acquired beneficial ownership of the shares of Common Stock reported herein as part of their investment activities on behalf of Discovery Equity Partners. The Reporting Persons acquired the shares of Common Stock reported herein because they believe that the trading prices of the Common Stock do not adequately reflect…

Discovery Group Urges Carbonite to Negotiate with J2

  December 4, 2014   The Board of Directors Carbonite, Inc. 2 Avenue de Lafayette Boston, MA  02111   Dear Directors:   As you know, Discovery Group is one of the largest shareholders in Carbonite, owning approximately 7.8% of the outstanding shares.   We have followed Carbonite for several years, and we have had many  meetings and discussions with…

Discovery Group Wants Exa Corp to look for Buyer

(Market Cap $162M; Discovery owns 7%) On September 24, 2014, Discovery Group sent a letter to the Board of Directors of the Company setting forth Discovery Group’s recommendation that the Board hire a financial advisor to thoroughly and proactively evaluate all strategic alternatives available to the Company, including a possible sale of the Company, and explaining…

Discovery Group Files 13D on Rally Software

The Reporting Persons acquired beneficial ownership of the shares of Common Stock reported herein as part of their investment activities on behalf of Discovery Equity Partners.  The Reporting Persons acquired the shares of Common Stock reported herein because they believe that the trading prices of the Common Stock do not adequately reflect the potential value of…

Discovery Group Files 13D on ReachLocal

  The Reporting Persons acquired beneficial ownership of the shares of Common Stock reported herein as part of their investment activities on behalf of Discovery Equity Partners.  The Reporting Persons acquired the shares of Common Stock reported herein because they believe that the trading prices of the Common Stock do not adequately reflect the potential value…

Discovery Group Files 13D on Carbonite

(Market Cap $254M; Discovery Group owns 5.4% at an average cost of $11.33 per share and the stock has underperformed the market by a wide margin over the past 52-weeks) The Reporting Persons acquired beneficial ownership of the shares of Common Stock reported herein as part of their investment activities on behalf of Discovery Equity…

Path to Recovery for Given Imaging

Mark Buckley 1 312 265 9607 mbuckley@thediscoverygroup.com September 30, 2013 The Board of Directors c/o Mr. Nachum “Homi” Shamir President, Chief Executive Officer Given Imaging Ltd. 3950 Shackleford Rd NW Duluth, GA  30096 Dear Directors: As one of the largest and longest-tenured shareholders of Given Imaging, we are writing to urge you to take two immediate…

Discovery Group Files 13D on PLXT

(Market Cap $268 million; Discovery Gp owns 5.2% at an average cost of $5.05 per share; See previous SSM alerts on PLXT for background info) The Reporting Persons acquired beneficial ownership of the shares of Common Stock reported herein as part of their investment activities on behalf of Discovery Equity Partners.  The Reporting Persons acquired the…

Discovery Group Wants Anaren to Declassify Board

On May 10, 2013, Discovery Equity Partners sent to the Company a shareholder proposal for inclusion in the Company’s Proxy Statement for its 2013 Annual Meeting pursuant to Rule 14a-8 under the Securities Exchange Act of 1934, as amended, a copy of which shareholder proposal is attached hereto as Exhibit 1.  The shareholder proposal requests…

Discovery Group Wants Anaren to Find Highest Price Buyer

April 30, 2013 Independent CommitteeBoard of Directorsc/o John L. SmuckerChairman, Independent CommitteeAnaren, Inc.6635 Kirkville RoadEast Syracuse, NY 13057 Dear Independent Committee Members: Discovery Group, a 5.9% shareholder, is updating our recommendation to the Board of Directors after learning that Anaren has received an offer from Vintage Capital to acquire the remaining shares of Anaren that…

Discovery Group’s Letter to Anaren

On April 8, 2013, Discovery Group sent a letter to the Board of Directors of the Company (the “Board“).  The letter sets forth, among other things, the Reporting Persons’ recommendation that the Board should immediately engage an investment bank to solicit offers from certain parties that the Reporting Persons believe are interested in acquiring the…

Discovery Group Wants Globecomm Sold

(Market cap 245 million; see earlier alert date July 23) Board of Directors Globecomm Systems, Inc. c/o Corporate Secretary 45 Oser Avenue Hauppauge, NY 11788-3816 Dear Directors: Discovery Group manages investment funds that own approximately 6.9% of the outstanding shares of Globecomm Systems, Inc. We have followed Globecomm closely for years and since our initial…

Discovery Group Files 13D on GAIN Capital

The language is boiler-plate but the price chart looks very interesting (from a distress perspective, anyway) and the stock is trading at tangible book value.  “The Reporting Persons acquired beneficial ownership of the shares of Common Stock reported herein as part of their investment activities on behalf of the Partnerships.  The Reporting Persons acquired the shares…

Second Activist to File 13D on STR Holdings

(Filed by Discovery Group) The Reporting Persons acquired beneficial ownership of the shares of Common Stock reported herein as part of their investment activities on behalf of the Partnerships.  The Reporting Persons acquired the shares of Common Stock reported herein because they believe that the trading prices of the Common Stock do not adequately reflect…

Discovery Group’s Filing on US Auto Parts Network

(Filed by Discovery Group) Purpose of Transaction The Reporting Persons acquired beneficial ownership of the shares of Common Stock reported herein as part of their investment activities on behalf of the Partnerships.  The Reporting Persons acquired the shares of Common Stock reported herein because they believe that the trading prices of the Common Stock do…

Discovery Gp Ups Stake in IntraLinks Holdings

Discovery Group filed a 13D/A on Intralinks disclosing a 6.8% ownership.  The Fund’s average cost is $6.18 per share.  What caught my eye was the Company’s free cash flow yield – Intralinks generated free cash (CFO – CapEx) of $50 million in 2011 and has a market cap of $254 million. Based upon the gawdawful chart, I am…

Initial 13D Filing on Online Resources corp

(Online Resources has a market cap of $103 mm and an EV of $104 mm (including LT investments; Discovery Group owns 5.2%) Item 4. Purpose of Transaction The Reporting Persons acquired beneficial ownership of the shares of Common Stock reported herein as part of their investment activities on behalf of the partnerships.  The Reporting Persons…

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