When AttachmateWRQ, owned by a consortium of private equity firms, bought business software company NetIQ, it made sense on several fronts to NetIQ's then-GC, Betsy Bayha. And in fact, that buyout may be part of a trend, as private equity buyers on the lookout for new places to put their money turn to tech companies. But while private consolidation may be good for investors, it's trouble for in-house lawyers, and Bayha soon found herself an ex-GC. "Every time you consolidate, you take a GC out," she said.
September 05, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
July was a surreal month for Betsy Bayha.
NetIQ Corp., where she’d been general counsel for five years, had been hit by the wave of private-equity-driven deals sweeping the country. Management announced in April that the business software company would be bought by Seattle-based AttachmateWRQ, owned by a consortium of private equity firms. Though the $495 million deal made good business sense, the company’s employees suddenly faced a tenuous future — including its GC.
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