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Welsh Carson Reduces Savvis Stake
The largest shareholder in Savvis Communications (SVVS) has reduced its stake in the company, according to filings with the U.S. Securities and Exchange Commission. Private equity firm Welsh, Carson, Anderson & Stowe VIII L.P. has a 36.1 percent stake in Savvis as of May 23, down from a 46.6 percent position back on Feb 21, according to an earlier filing.
Why is this notable? There have been rumors floating around that Savvis might be a buyout candidate, perhaps for a large telco looking for traction in utility hosting. But if Savvis was really for sale, would a private equity firm be lowering its stake? It seems more likely that there's no deal cooking, and with Savvis shares near their high, it's a good opportunity to take some profits.
Welsh, Carson, Anderson & Stowe (WCAS) has organized 14 funds, invested in 135 companies and financed more than 650 follow-on acquisitions. Some of its previous investments include in the sector include Amdocs Limited and and SunGard Data Systems, Inc.
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By Rich Miller 
May 30, 2007 | Permalink | >Get Posts By E-mail
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