Starboard Value

Starboard Value LP is a privately owned investment adviser based in New York City, specializing in the public equity markets of the United States. Founded in March 2011 through a spin-off from Ramius LLC, the firm focuses on investing in value stocks of small-cap companies. Starboard Value primarily serves pooled investment vehicles, as well as state and municipal government entities, sovereign wealth funds, and foreign official institutions. The firm utilizes fundamental analysis to guide its investment strategies and provide insights to investors interested in publicly traded small-cap companies.

Tom Cusack

MD, VP and Investment Analyst

Kenneth Marlin

Chief Financial Officer & Chief Compliance Officer

Jeffrey Smith

CEO and CIO

9 past transactions

GoDaddy

Post in 2021
GoDaddy is a leading platform for small businesses, providing essential tools for establishing and managing an online presence. As the largest ICANN-accredited domain registrar, it manages over 55 million domain names and supports more than 12 million customers worldwide. The company offers a wide range of products, including website builders, eCommerce solutions, and SSL certificates, making it a comprehensive resource for individuals and businesses looking to thrive online. Established in 1997, GoDaddy has grown to surpass its nearest competitors, registering and renewing domain names at a rapid pace. With a commitment to customer service available around the clock, GoDaddy aims to empower users to easily start, confidently grow, and successfully run their online endeavors.
Willis Towers Watson is a global advisory, broking, and solutions company that assists clients in transforming risk into opportunities for growth. Established through the 2016 merger of Willis and Towers Watson, the firm has origins dating back to 1828 and operates with a workforce of approximately 39,000 employees across more than 120 countries. The company specializes in designing and delivering solutions that manage risk, optimize benefits, enhance talent, and leverage capital to secure and strengthen both institutions and individuals. It offers a range of services, including human resource consulting, financial and risk management, and usage-based insurance solutions, such as the DriveAbility® program. Willis Towers Watson's unique perspective enables it to identify crucial intersections between talent, assets, and ideas, ultimately driving business performance.
Merit Medical Systems, Inc. is a prominent manufacturer of medical devices utilized in interventional cardiology, radiology, and endoscopy procedures. The company primarily focuses on products such as inflation devices for angioplasty and stent placement, diagnostic and therapeutic catheters, guide wires, thrombolytic catheters, and angiography accessories. Headquartered in South Jordan, Utah, Merit operates multiple facilities across the United States and internationally, including locations in Ireland and Texas. The majority of its revenue comes from the cardiovascular segment, with a significant portion generated in the United States. Merit is recognized for its innovation, product quality, and customer service, holding a leading position in the market for inflation devices and hemostasis valves. Additionally, the company offers contract manufacturing services to various medical device companies, leveraging its proprietary manufacturing processes.

CVSHealth

Post in 2019
Following its acquisition of Aetna in late 2018, CVS Health now provides an even more integrated healthcare-services offering for its members. Legacy CVS combines both the largest pharmacy benefit manager, processing about 2 billion adjusted claims annually, and a sizable pharmacy operation, including nearly 10,000 retail pharmacy locations primarily in the United States. Adding a managed-care organization with about 22 million medical members gives the company a strong position in the insurance industry and should help CVS better control overall healthcare costs for its clients.

Papa John's

Post in 2019
Papa John's International, Inc. operates and franchises pizza delivery and carryout restaurants under the Papa John's trademark in the United States and internationally. It operates through four segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, and International Operations. The company also operates dine-in and delivery restaurants. As of December 29, 2019, it operated 5,395 Papa John's restaurants, which included 598 company-owned and 4,797 franchised restaurants. The company was founded in 1984 and is headquartered in Louisville, Kentucky.

Dollar Tree

Post in 2019
Dollar Tree, Inc. is a discount variety retail chain that operates through two main segments: Dollar Tree and Family Dollar. The Dollar Tree segment provides a wide range of merchandise, all priced at $1.00, including consumable items like food, health and beauty products, household supplies, and seasonal goods. It operates 7,505 stores under the Dollar Tree and Dollar Tree Canada brands, supported by 13 distribution centers in the U.S. and two in Canada, alongside a store support center in Chesapeake, Virginia. The Family Dollar segment, on the other hand, focuses on general merchandise and offers a broader selection that includes consumable goods, home products, apparel, and seasonal items. Family Dollar operates 7,783 stores and is supported by 11 distribution centers. Founded in 1986, Dollar Tree is headquartered in Chesapeake, Virginia, and serves customers by providing a diverse assortment of products at low prices.

NortonLifeLock

Post in 2018
NortonLifeLock Inc. is a prominent company in the field of consumer cyber safety, focusing on securing the digital lives of around 50 million users. The company offers a range of services designed to protect devices, identities, and online privacy, while also addressing the needs of families in an increasingly complex digital landscape. By providing reliable security solutions, NortonLifeLock aims to be a trusted partner for consumers navigating various online threats and challenges.
Mellanox Technologies is a supplier of end-to-end connectivity solutions for servers and storage that optimize data center performance. Mellanox products deliver market-leading bandwidth, performance, scalability, power conservation and cost-effectiveness while converging multiple legacy network technologies into one future-proof solution. For the best in performance and scalability, Mellanox is the choice for Fortune 500 data centers and the world's most powerful supercomputers. Founded in 1999, Mellanox Technologies is headquartered in Sunnyvale, California and Yokneam, Israel.

Perrigo

Post in 2016
Perrigo Company plc is a leading global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and prescription (Rx) pharmaceuticals, nutritional products, and active pharmaceutical ingredients (API), as well as receives royalties from Multiple Sclerosis drug Tysabri®. The company is the world's largest manufacturer of OTC pharmaceutical products for the store brand market and an industry leader in pharmaceutical technologies.