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Madeleine Desmond

Updata Advisors Merges with Signal Hill

Published on: 08/03/2010

Combination with Technology Leader Boosts Signal Hill’s Status as a Premier, Knowledge-Driven Investment Bank for Growth Companies

BALTIMORE — Signal Hill Capital Group LLC (“Signal Hill”), an investment banking firm focused on small and mid-cap growth companies in the Technology, Media, Telecommunications, Education, Business and Healthcare Services and Insurance sectors, announced today the completion of its merger with Updata Advisors, Inc., a leading advisory firm focused exclusively on Information Technology. The combined firm, to be called Signal Hill, will blend Signal Hill’s history of advising a blue-chip roster of leading growth companies with Updata’s 23-year history, distinguished by over 400 transactions completed for many of the world’s top technology companies. The firm will continue to be headquartered in Baltimore, and will have offices in Nashville, Tenn., New York, Reston, Va. and San Francisco.

All of Updata Advisors’ active partners will join the Signal Hill team, as well as all supporting advisory professionals and other personnel. In addition, Ira D. Cohen, Co-founder and Managing General Partner of Updata, will manage the technology advisory practice of Signal Hill. Mr. Cohen will also join the Signal Hill Board of Directors. As a result of the merger, Signal Hill will have 27 equity partners in investment banking, institutional brokerage and research.

Scott A. Wieler, Founder and Chairman of Signal Hill, said: “Ira and his team have created enviable advisory franchises in the Software, IT Services, IT Security, Infrastructure and Digital Media arenas. This merger accelerates our objective to build a premier investment bank that caters to growth-oriented clients seeking knowledge-driven solutions. Updata deepens our technology footprint, and complements existing coverage areas to better meet the needs of our clients. Ira and I both believe the time was right to combine strength with strength, and that is precisely what this merger will do.”

Mr. Cohen commented: “We look forward to integrating Updata’s unique skills, deep domain expertise in IT and long-time experience as a leading technology sector advisory firm into the Signal Hill platform. We believe Signal Hill’s expanded capabilities in areas such as equity underwriting, private placements and research will be of tremendous benefit to our core clients, and all of our partners are excited by the opportunities this merger will present.”

The transaction will not affect the growth private equity firm, Updata Partners, a previous affiliate of Updata Advisors. John Burton, Managing General Partner of Updata Partners stated: “We are pleased to have played a part in the success of Updata Advisors. From our vantage point, this combination creates an investment bank uniquely positioned to assist emerging and mid-market companies, as well as private equity, venture capital firms and their portfolio companies.” 

About Updata Advisors
Founded in 1987, Updata Advisors has completed more than 400 information technology M&A transactions, representing some of the most notable deals in the technology industry. Factset's Mergerstat rankings consistently place Updata Advisors among the top three middle market advisors to the Computer Software, Supplies & Services industry in annual transaction volume. Updata Advisors has offices in New York City and Reston, Va.

About Signal Hill
Signal Hill is an investment banking firm focused on small and mid-cap growth companies and their investors, with particular expertise in Technology, Media, Telecommunications, Education, Business and Healthcare Services and Insurance. Our partner-owned firm supports clients with investment banking, institutional brokerage, and research capabilities and services. Signal Hill Capital Group LLC, a FINRA member, has offices in Baltimore, Nashville and San Francisco.

Updata Advisors Merges with Signal Hill