SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No._______ )*
CORSAIR COMMUNICATIONS, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
220406 10 2
- --------------------------------------------------------------------------------
(CUSIP Number)
Pamela K. Hagenah
Integral Capital Partners
2750 Sand Hill Road
Menlo Park, California 94025
(650) 233-0360
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
January 20, 1998
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
(Continued on following pages)
Page 1 of 19 Pages
Exhibit Index Contained on Page 15
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
- ----------------------------------------------------------- --------------------------------------------------
CUSIP NO. 220406 10 2 13D Page 2 of 19 Pages
- ----------------------------------------------------------- --------------------------------------------------
- ----------- ------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Integral Capital Management II, L.P. ("ICM2")
- ----------- ------------------------------------------------------------------------------------------------------------------
2 CHECK APPROPRIATED BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ----------- ------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ----------- ------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- ----------- ------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware (limited partnership)
- --------------------------------------- --------- ----------------------------------------------------------------------------
7 SOLE VOTING POWER -0-
--------- ----------------------------------------------------------------------------
NUMBER 8 SHARED VOTING POWER
OF 557,154 shares, of which 410,302 shares are directly owned by
SHARES Integral Capital Partners II, L.P. ("ICP2") and 146,852 shares
BENEFICIALLY are directly owned by Integral Capital Partners International II
OWNED BY EACH C.V. ("ICPI2"). ICM2 is the general partner of ICP2 and the
REPORTING investment general partner of ICPI2.
PERSON
WITH
--------- ----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER -0-
--------- ----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
557,154 shares (see response to Item 8)
- ----------- ------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
557,154 shares
- ----------- ------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 4.08%
- ----------- ------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* PN
- ----------- ------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
- ----------------------------------------------------------- --------------------------------------------------
CUSIP NO. 220406 10 2 13D Page 3 of 19 Pages
- ----------------------------------------------------------- --------------------------------------------------
- ----------- ------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Integral Capital Management III, L.P. ("ICM3")
- ----------- ------------------------------------------------------------------------------------------------------------------
2 CHECK APPROPRIATED BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ----------- ------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ----------- ------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- ----------- ------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware (limited partnership)
- --------------------------------------- --------- ----------------------------------------------------------------------------
7 SOLE VOTING POWER -0-
--------- ----------------------------------------------------------------------------
NUMBER 8 SHARED VOTING POWER
OF 137,007 shares, of which 111,647 shares are directly owned by
SHARES Integral Capital Partners III, L.P. ("ICP3") and 25,360 shares
BENEFICIALLY are directly owned by Integral Capital Partners International
OWNED BY EACH III, L.P. ("ICPI3"). ICM3 is the general partner of ICP3 and the
REPORTING investment general partner of ICPI3.
PERSON
WITH
--------- ----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER -0-
--------- ----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
137,007 shares (see response to Item 8)
- ----------- ------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
137,007 shares
- ----------- ------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 1.00%
- ----------- ------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* PN
- ----------- ------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
- ----------------------------------------------------------- --------------------------------------------------
CUSIP NO. 220406 10 2 13D Page 4 of 19 Pages
- ----------------------------------------------------------- --------------------------------------------------
- ----------- ------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Integral Capital Partners II, L.P. ("ICP2")
- ----------- ------------------------------------------------------------------------------------------------------------------
2 CHECK APPROPRIATED BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ----------- ------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ----------- ------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- ----------- ------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware (limited partnership)
- --------------------------------------- --------- ----------------------------------------------------------------------------
7 SOLE VOTING POWER -0-
--------- ----------------------------------------------------------------------------
NUMBER 8 SHARED VOTING POWER
OF 410,302 shares are directly owned by ICP2. Integral Capital
SHARES Management II, L.P. is the general partner of ICP2.
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH
--------- ----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER -0-
--------- ----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
410,302 shares (see response to Item 8)
- ----------- ------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
410,302 shares
- ----------- ------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 3.01%
- ----------- ------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* PN
- ----------- ------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
- ----------------------------------------------------------- --------------------------------------------------
CUSIP NO. 220406 10 2 13D Page 5 of 19 Pages
- ----------------------------------------------------------- --------------------------------------------------
- ----------- ------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Integral Capital Partners International II C.V. ("ICPI2")
- ----------- ------------------------------------------------------------------------------------------------------------------
2 CHECK APPROPRIATED BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ----------- ------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ----------- ------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- ----------- ------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Netherlands Antilles (limited partnership)
- --------------------------------------- --------- ----------------------------------------------------------------------------
7 SOLE VOTING POWER -0-
--------- ----------------------------------------------------------------------------
NUMBER 8 SHARED VOTING POWER
OF 146,852 shares are directly owned by ICPI2. Integral Capital
SHARES Management II, L.P. is the investment general partner of ICPI2.
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH
--------- ----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER -0-
--------- ----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
146,852 shares (see response to Item 8)
- ----------- ------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
146,852 shares
- ----------- ------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 1.08%
- ----------- ------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* PN
- ----------- ------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
- ----------------------------------------------------------- --------------------------------------------------
CUSIP NO. 220406 10 2 13D Page 6 of 19 Pages
- ----------------------------------------------------------- --------------------------------------------------
- ----------- ------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Integral Capital Partners III, L.P. ("ICP3")
- ----------- ------------------------------------------------------------------------------------------------------------------
2 CHECK APPROPRIATED BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ----------- ------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ----------- ------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- ----------- ------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware (limited partnership)
- --------------------------------------- --------- ----------------------------------------------------------------------------
7 SOLE VOTING POWER -0-
--------- ----------------------------------------------------------------------------
NUMBER 8 SHARED VOTING POWER
OF 111,647 shares are directly owned by ICP3. Integral Capital
SHARES Management III, L.P. is the general partner of ICP3.
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH
--------- ----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER -0-
--------- ----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
111,647 shares (see response to Item 8)
- ----------- ------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
111,647 shares
- ----------- ------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 0.82%
- ----------- ------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* PN
- ----------- ------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
- ----------------------------------------------------------- --------------------------------------------------
CUSIP NO. 220406 10 2 13D Page 7 of 19 Pages
- ----------------------------------------------------------- --------------------------------------------------
- ----------- ------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Integral Capital Partners International III, L.P. ("ICPI3")
- ----------- ------------------------------------------------------------------------------------------------------------------
2 CHECK APPROPRIATED BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
- ----------- ------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ----------- ------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- ----------- ------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands (limited partnership)
- --------------------------------------- --------- ----------------------------------------------------------------------------
7 SOLE VOTING POWER -0-
--------- ----------------------------------------------------------------------------
NUMBER 8 SHARED VOTING POWER
OF 25,360 shares are directly owned by ICPI3. Integral Capital
SHARES Management III, L.P. is the investment general partner of ICPI3.
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH
--------- ----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER -0-
--------- ----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
25,360 shares (see response to Item 8)
- ----------- ------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,360 shares
- ----------- ------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- ----------- ------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 0.19%
- ----------- ------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* PN
- ----------- ------------------------------------------------------------------------------------------------------------------
<FN>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
<PAGE>
Page 8 of 19
ITEM 1. SECURITY AND ISSUER
The title of the class of equity securities to which this statement relates
is shares of the Common Stock (the "Shares") of Corsair Communications, Inc., a
Delaware corporation (the "Issuer"). The address of the principal executive
offices of the Issuer is:
3408 Hillview Avenue
Palo Alto, CA 94304
ITEM 2. IDENTITY AND BACKGROUND
This statement is being filed by Integral Capital Management II, L.P., a
Delaware limited partnership ("ICM2") and Integral Capital Management III, L.P.,
a Delaware limited partnership ("ICM3"). The principal business address of ICM2
and ICM3 is 2750 Sand Hill Road, Menlo Park, California 94025. The names,
business addresses, occupations and citizenships of the general partners of ICM2
and ICM3 are set forth on Exhibit B hereto.
ICM2 is the general partner of Integral Capital Partners II, L.P., a
Delaware limited partnership ("ICP2"), and the investment general partner of
Integral Capital Partners International II C.V., a Netherlands Antilles limited
partnership ("ICPI2"). ICM3 is the general partner of Integral Capital Partners
III, L.P., a Delaware limited partnership ("ICP3"), and the investment general
partner of Integral Capital Partners International III, L.P., a Cayman Islands
exempted limited partnership ("ICPI3"). ICP2, ICPI2, ICP3 and ICPI3 are private
investment funds that invest in securities of publicly traded and private
companies, predominantly in the areas of information sciences and life sciences.
With respect to ICM2 and ICM3, this statement relates only to ICM2's and ICM3's
indirect, beneficial ownership of shares of Common Stock of Corsair
Communications, Inc. (the "Shares"). The Shares have been purchased by ICP2,
ICPI2, ICP3 and ICPI3, and none of ICM2 or ICM3 directly or otherwise hold any
Shares. Management of the business affairs of ICM2 and ICM3, including decisions
respecting disposition and/or voting of the Shares, resides in a majority of the
general partners of ICM2 and ICM3, respectively, listed on Exhibit B, such that
no single general partner of ICM2 or ICM3 has voting and/or dispositive power of
the Shares.
Neither ICM2, ICM3 nor, to the best of ICM2's and ICM3's knowledge, any of
the persons listed on Exhibit B hereto have, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to federal or
state securities laws or finding any violation with respect to such laws.
<PAGE>
Page 9 of 19
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The aggregate amount of consideration required by ICP2, ICPI2, ICP3 and
ICPI3 to purchase the 694,161 shares to which this statement relates was
approximately $8,297,450. The consideration was obtained from the working
capital of ICP2, ICPI2, ICP3 and ICPI3.
ITEM 4. PURPOSE OF TRANSACTION
The purchase of 392,914 shares by ICP2 and ICPI2 were made pursuant to a
series of private purchases. The purchases of the remaining Shares by ICP2,
ICPI2, ICP3 and ICPI3 were made in the initial public offering of common stock
by the Issuer and pursuant to open market purchases. The purchases of the Shares
were not made for the purpose of acquiring control of the Issuer. From time to
time, ICM2 may, in the ordinary course of its role as general partner of ICP2
and the investment general partner of ICPI2, direct ICP2 and/or ICPI2 to
purchase additional shares or sell all or a portion of the Shares now held by
ICP2 or ICPI2, and ICM3 may, in the ordinary course of its role as general
partner of ICP3 and the investment general partner of ICPI3, direct ICP3 and/or
ICPI3 to purchase additional shares or sell all or a portion of the Shares now
held by ICP3 or ICPI3.
Except as set forth above, none of ICM2, ICM3 nor the persons listed on
Exhibit B hereto has any current plans or proposals that relate to or would
result in the occurrence of any of the actions or events enumerated in clause
(a) through (j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
A. Integral Capital Management II, L.P. ("ICM2")
(a) Amount Beneficially Owned: 557,154
Percent of Class: 4.08%
(b) Number of shares as to which such person has:
1. Sole power to vote or to direct vote:
-0-
2. Shared power to vote or to direct vote:
557,154
3. Sole power to dispose or to direct the disposition:
-0-
4. Shared power to dispose or to direct the disposition:
557,154
(c) To the best knowledge of ICM2, the only transaction in the
Shares effected during the 60 days prior to January 20, 1998 through the date
hereof by Integral Capital Partners II, L.P., a Delaware limited partnership
("ICP2"), Integral Capital Partners International II C.V., a Netherlands
Antilles limited partnership ("ICPI2"), ICM2, or any of the persons listed as
general partners of ICM2 on Exhibit B hereto occurred on November 25, 1997, when
ICP2 and ICPI2 made open market purchases of 40,855 shares and 14,725 shares,
respectively of the Issuer's Common Stock for a consideration per share of
$16.625, and the transactions described in Item 5B(c) below.
(d) ICM2 is the general partner of ICP2 and the investment general
partner of ICPI2. Roger B. McNamee, John A. Powell and Pamela K. Hagenah are the
general partners of ICM2. Decisions respecting the voting of Shares and
disposition of the proceeds from the sale of Shares are determined by a majority
of the general partners. Under certain circumstances set forth in the limited
partnership agreements of ICP2, ICPI2 and ICM2, the general and limited partners
of such entities may receive dividends from, or the proceeds from the sale of
Shares of Common Stock of Corsair Communications, Inc. owned, directly or
indirectly, by each such entity.
<PAGE>
Page 10 of 19
(e) Not applicable.
B. Integral Capital Management III, L.P. ("ICM3")
(a) Amount Beneficially Owned: 137,007
Percent of Class: 1.00%
(b) Number of shares as to which such person has:
1. Sole power to vote or to direct vote:
-0-
2. Shared power to vote or to direct vote:
137,007
3. Sole power to dispose or to direct the disposition:
-0-
4. Shared power to dispose or to direct the disposition:
137,007
(c) To the best knowledge of ICM3, the only transaction in the
Shares effected during the 60 days prior to January 20, 1998 through the date
hereof by Integral Capital Partners III, L.P., a Delaware limited partnership
("ICP3"), Integral Capital Partners International III, L.P., a Cayman Islands
exempted limited partnership ("ICPI3"), ICM3, or any of the persons listed as
general partners of ICM3 on Exhibit B hereto occurred on November 25, 1997, when
ICP3 and ICPI3 made an open market purchase of 36,230 shares and 8,190 shares of
the Issuer's Common Stock, respectively, for a consideration per share of
$16.625, and on January 20, 1998, when ICP3 nad ICPI3 made an open market
purchase of 4,000 shares and 1,000 shares of the Issuer's Common Stock,
respectively, for a consideration per share of $20.25, and the transactions
described in Item 5A(c) above.
(d) ICM3 is the general partner of ICP3 and the investment general
partner of ICPI3. Roger B. McNamee, John A. Powell and Pamela K. Hagenah are the
general partners of ICM3. Decisions respecting the voting of Shares and
disposition of the proceeds from the sale of Shares are determined by a majority
of the general partners. Under certain circumstances set forth in the limited
partnership agreements of ICP3, ICPI3 and ICM3, the general and limited partners
of such entities may receive dividends from, or the proceeds from the sale of
Shares of Common Stock of Corsair Communications, Inc. owned, directly or
indirectly, by each such entity.
(e) Not applicable.
C. Integral Capital Partners II, L.P.
(a) Aggregate number of Shares owned: 410,302
Percentage: 3.01%
(b) 1. Sole power to vote or to direct vote:
-0-
2. Shared power to vote or to direct vote:
410,302
3. Sole power to dispose or to direct the disposition:
-0-
4. Shared power to dispose or to direct the disposition:
410,302
(c) See item 5A(c) above.
(d) See Item 5A(d) above.
(e) Not applicable.
<PAGE>
Page 11 of 19
D. Integral Capital Partners International II C.V.
(a) Aggregate number of Shares owned: 146,852
Percentage: 1.08%
(b) 1. Sole power to vote or to direct vote:
-0-
2. Shared power to vote or to direct vote:
146,852
3. Sole power to dispose or to direct the disposition:
-0-
4. Shared power to dispose or to direct the disposition:
146,852
(c) See Item 5A(c) above.
(d) See Item 5A(d) above.
(e) Not applicable.
E. Integral Capital Partners III, L.P.
(a) Aggregate number of Shares owned: 111,647
Percentage: 0.82%
(b) 1. Sole power to vote or to direct vote:
-0-
2. Shared power to vote or to direct vote:
111,647
3. Sole power to dispose or to direct the disposition:
-0-
4. Shared power to dispose or to direct the disposition:
111,647
(c) See Item 5B(c) above.
(d) See Item 5B(d) above.
(e) Not applicable.
F. Integral Capital Partners International III, L.P.
(a) Aggregate number of Shares owned: 25,360
Percentage: 0.19%
(b) 1. Sole power to vote or to direct vote:
-0-
2. Shared power to vote or to direct vote:
25,360
3. Sole power to dispose or to direct the disposition:
-0-
4. Shared power to dispose or to direct the disposition:
25,360
(c) See Item 5B(c) above.
(d) See Item 5B(d) above.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS, OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Except as set forth herein, there are no contracts, arrangements,
understandings or relationships among ICM2 or ICM3 and any of the persons named
in Item 2 or between ICM2 or ICM3 and any other person with respect to the
Shares of the Issuer or the persons named in Item 2 and any other person with
respect to the Shares of the Issuer.
<PAGE>
Page 12 of 19
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS
Exhibit A: Agreement of Joint Filing
Exhibit B: List of General Partners of Integral Capital Management
II, L.P. and Integral Capital Management III, L.P.
<PAGE>
Page 13 of 19
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: January 26, 1998
INTEGRAL CAPITAL MANAGEMENT II, L.P.
By: /s/ Pamela K. Hagenah
---------------------------------
Pamela K. Hagenah
a General Partner
INTEGRAL CAPITAL MANAGEMENT III, L.P.
By: /s/ Pamela K. Hagenah
---------------------------------
Pamela K. Hagenah
a General Partner
INTEGRAL CAPITAL PARTNERS II, L.P.
By Integral Capital Management II, L.P.,
its General Partner
By: /s/ Pamela K. Hagenah
---------------------------------
Pamela K. Hagenah
a General Partner
INTEGRAL CAPITAL PARTNERS III, L.P.
By Integral Capital Management III, L.P.
its General Partner
By: /s/ Pamela K. Hagenah
---------------------------------
Pamela K. Hagenah
a General Partner
<PAGE>
Page 14 of 19
INTEGRAL CAPITAL PARTNERS INTERNATIONAL II C.V.
By Integral Capital Management II, L.P.,
its Investment General Partner
By: /s/ Pamela K. Hagenah
---------------------------------
Pamela K. Hagenah
a General Partner
INTEGRAL CAPITAL PARTNERS INTERNATIONAL
III, L.P.
By Integral Capital Management III, L.P.,
its Investment General Partner
By: /s/ Pamela K. Hagenah
---------------------------------
Pamela K. Hagenah
a General Partner
<PAGE>
Page 15 of 19
EXHIBIT INDEX
Found on
Sequentially
Exhibit Numbered Page
- ------- -------------
Exhibit A: Agreement of Joint Filing 16
Exhibit B: List of General Partners of Integral Capital 18
Management II, L.P. and Integral Capital
Management III, L.P.
<PAGE>
Page 16 of 19
EXHIBIT A
Agreement of Joint Filing
The undersigned hereby agree that they are filing jointly pursuant to Rule
13d-1(f)(1) of the Act the statement dated January 26, 1998 containing the
information required by Schedule 13D, for the 694,161 Shares of the Common Stock
of Corsair Communications, Inc., held by Integral Capital Partners II, L.P., a
Delaware limited partnership, Integral Capital Partners International II C.V., a
Netherlands Antilles limited partnership, Integral Capital Partners III, L.P., a
Delaware limited partnership, and Integral Capital Partners International III,
L.P., a Cayman Islands exempted limited partnership.
Date: January 26, 1998
INTEGRAL CAPITAL MANAGEMENT II, L.P.
By: /s/ Pamela K. Hagenah
---------------------------------
Pamela K. Hagenah
a General Partner
INTEGRAL CAPITAL MANAGEMENT III, L.P.
By: /s/ Pamela K. Hagenah
---------------------------------
Pamela K. Hagenah
a General Partner
INTEGRAL CAPITAL PARTNERS II, L.P.
By Integral Capital Management II, L.P.,
its General Partner
By: /s/ Pamela K. Hagenah
---------------------------------
Pamela K. Hagenah
a General Partner
INTEGRAL CAPITAL PARTNERS INTERNATIONAL II C.V.
By Integral Capital Management II, L.P.,
its Investment General Partner
By: /s/ Pamela K. Hagenah
---------------------------------
Pamela K. Hagenah
a General Partner
<PAGE>
Page 17 of 19
INTEGRAL CAPITAL PARTNERS III, L.P.
By Integral Capital Management III, L.P.,
its General Partner
By: /s/ Pamela K. Hagenah
---------------------------------
Pamela K. Hagenah
a General Partner
INTEGRAL CAPITAL PARTNERS INTERNATIONAL
III, L.P.
By Integral Capital Management III, L.P.,
its Investment General Partner
By: /s/ Pamela K. Hagenah
---------------------------------
Pamela K. Hagenah
a General Partner
<PAGE>
Page 18 of 19
EXHIBIT B
General Partners of
Integral Capital Management II, L.P.
Set forth below, with respect to each general partner of Integral Capital
Management II, L.P., is the following: (a) name; (b) business address; (c)
principal occupation; and (d) citizenship.
1. (a) Roger B. McNamee
(b) c/o Integral Capital Partners
2750 Sand Hill Road,
Menlo Park, CA 94025
(c) General Partner of Integral Capital Management, L.P., Integral
Capital Management II, L.P. and
Integral Capital Management III, L.P.
(d) United States Citizen
2. (a) John A. Powell
(b) c/o Integral Capital Partners
2750 Sand Hill Road,
Menlo Park, CA 94025
(c) General Partner of Integral Capital Management, L.P., Integral
Capital Management II, L.P. and
Integral Capital Management III, L.P.
(d) United States Citizen
3. (a) Pamela K. Hagenah
(b) c/o Integral Capital Partners
2750 Sand Hill Road,
Menlo Park, CA 94025
(c) General Partner of Integral Capital Management II, L.P. and
Integral Capital Management III, L.P.
(d) United States Citizen
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General Partners of
Integral Capital Management III, L.P.
Set forth below, with respect to each general partner of Integral Capital
Management III, L.P., is the following: (a) name; (b) business address; (c)
principal occupation; and (d) citizenship.
1. (a) Roger B. McNamee
(b) c/o Integral Capital Partners
2750 Sand Hill Road,
Menlo Park, CA 94025
(c) General Partner of Integral Capital Management, L.P., Integral
Capital Management II, L.P. and
Integral Capital Management III, L.P.
(d) United States Citizen
2. (a) John A. Powell
(b) c/o Integral Capital Partners
2750 Sand Hill Road,
Menlo Park, CA 94025
(c) General Partner of Integral Capital Management, L.P., Integral
Capital Management II, L.P. and
Integral Capital Management III, L.P.
(d) United States Citizen
3. (a) Pamela K. Hagenah
(b) c/o Integral Capital Partners
2750 Sand Hill Road,
Menlo Park, CA 94025
(c) General Partner of Integral Capital Management II, L.P. and
Integral Capital Management III, L.P.
(d) United States Citizen
