SC 13G 1 sc13g_powerdsine.txt POWERDSINE LTD. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Information Statement Pursuant to Rules 13d-1 and 13d-2 Under the Securities Exchange Act of 1934 (Amendment No. __)* POWERDSINE LTD. (Name of Issuer) ORDINARY SHARES, PAR VALUE NIS 0.01 PER SHARE (Title of Class of Securities) M41415106 (CUSIP Number) DECEMBER 31, 2004 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [_] Rule 13d-1(b) [_] Rule 13d-1(c) [X] Rule 13d-1(d) *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). CUSIP NO. M41415106 SCHEDULE 13G Page 2 of 20 -------------------------------------------------------------------------------- 1. Name of Reporting Person General Atlantic Partners, LLC S.S. or I.R.S. Identifica- tion No. of Above Person -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] -------------------------------------------------------------------------------- 3. S.E.C. Use Only -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 0 Beneficially (6) Shared Voting Power 4,782,387 Owned by Each (7) Sole Dispositive Power 0 Reporting Person (8) Shared Dispositive Power 4,782,387 -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,782,387 -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ______ -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 24.8% -------------------------------------------------------------------------------- 12. Type of Reporting Person OO -------------------------------------------------------------------------------- CUSIP NO. M41415106 SCHEDULE 13G Page 3 of 20 -------------------------------------------------------------------------------- 1. Name of Reporting Person GAP (Bermuda) Limited S.S. or I.R.S. Identifica- tion No. of Above Person -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] -------------------------------------------------------------------------------- 3. S.E.C. Use Only -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Bermuda -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 0 Beneficially (6) Shared Voting Power 4,782,387 Owned by Each (7) Sole Dispositive Power 0 Reporting Person (8) Shared Dispositive Power 4,782,387 -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,782,387 -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ______ -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 24.8% -------------------------------------------------------------------------------- 12. Type of Reporting Person CO -------------------------------------------------------------------------------- CUSIP NO. M41415106 SCHEDULE 13G Page 4 of 20 -------------------------------------------------------------------------------- 1. Name of Reporting Person General Atlantic Partners 78, L.P. S.S. or I.R.S. Identifica- tion No. of Above Person -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] -------------------------------------------------------------------------------- 3. S.E.C. Use Only -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 0 Beneficially (6) Shared Voting Power 4,782,387 Owned by Each (7) Sole Dispositive Power 0 Reporting Person (8) Shared Dispositive Power 4,782,387 -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,782,387 -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ______ -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 24.8% -------------------------------------------------------------------------------- 12. Type of Reporting Person PN -------------------------------------------------------------------------------- CUSIP NO. M41415106 SCHEDULE 13G Page 5 of 20 -------------------------------------------------------------------------------- 1. Name of Reporting Person General Atlantic Partners S.S. or I.R.S. Identifica- (Bermuda), L.P. tion No. of Above Person -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] -------------------------------------------------------------------------------- 3. S.E.C. Use Only -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 0 Beneficially (6) Shared Voting Power 4,782,387 Owned by Each (7) Sole Dispositive Power 0 Reporting Person (8) Shared Dispositive Power 4,782,387 -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,782,387 -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ______ -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 24.8% -------------------------------------------------------------------------------- 12. Type of Reporting Person PN -------------------------------------------------------------------------------- CUSIP NO. M41415106 SCHEDULE 13G Page 6 of 20 -------------------------------------------------------------------------------- 1. Name of Reporting Person GapStar, LLC S.S. or I.R.S. Identifica- tion No. of Above Person -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] -------------------------------------------------------------------------------- 3. S.E.C. Use Only -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 0 Beneficially (6) Shared Voting Power 4,782,387 Owned by Each (7) Sole Dispositive Power 0 Reporting Person (8) Shared Dispositive Power 4,782,387 -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,782,387 -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ______ -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 24.8% -------------------------------------------------------------------------------- 12. Type of Reporting Person OO -------------------------------------------------------------------------------- CUSIP NO. M41415106 SCHEDULE 13G Page 7 of 20 -------------------------------------------------------------------------------- 1. Name of Reporting Person GAP-W International, L.P. S.S. or I.R.S. Identifica- tion No. of Above Person -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] -------------------------------------------------------------------------------- 3. S.E.C. Use Only -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 0 Beneficially (6) Shared Voting Power 4,782,387 Owned by Each (7) Sole Dispositive Power 0 Reporting Person (8) Shared Dispositive Power 4,782,387 -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,782,387 -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ______ -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 24.8% -------------------------------------------------------------------------------- 12. Type of Reporting Person PN -------------------------------------------------------------------------------- CUSIP NO. M41415106 SCHEDULE 13G Page 8 of 20 -------------------------------------------------------------------------------- 1. Name of Reporting Person GAPCO GmbH & Co. KG S.S. or I.R.S. Identifica- tion No. of Above Person -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] -------------------------------------------------------------------------------- 3. S.E.C. Use Only -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Germany -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 0 Beneficially (6) Shared Voting Power 4,782,387 Owned by Each (7) Sole Dispositive Power 0 Reporting Person (8) Shared Dispositive Power 4,782,387 -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,782,387 -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ______ -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 24.8% -------------------------------------------------------------------------------- 12. Type of Reporting Person PN -------------------------------------------------------------------------------- CUSIP NO. M41415106 SCHEDULE 13G Page 9 of 20 -------------------------------------------------------------------------------- 1. Name of Reporting Person GAPCO Management GmbH S.S. or I.R.S. Identifica- tion No. of Above Person -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] -------------------------------------------------------------------------------- 3. S.E.C. Use Only -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Germany -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 0 Beneficially (6) Shared Voting Power 4,782,387 Owned by Each (7) Sole Dispositive Power 0 Reporting Person (8) Shared Dispositive Power 4,782,387 -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,782,387 -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ______ -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 24.8% -------------------------------------------------------------------------------- 12. Type of Reporting Person CO -------------------------------------------------------------------------------- CUSIP NO. M41415106 SCHEDULE 13G Page 10 of 20 -------------------------------------------------------------------------------- 1. Name of Reporting Person GAP Coinvestments III, LLC S.S. or I.R.S. Identifica- tion No. of Above Person -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] -------------------------------------------------------------------------------- 3. S.E.C. Use Only -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 0 Beneficially (6) Shared Voting Power 4,782,387 Owned by Each (7) Sole Dispositive Power 0 Reporting Person (8) Shared Dispositive Power 4,782,387 -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,782,387 -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ______ -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 24.8% -------------------------------------------------------------------------------- 12. Type of Reporting Person OO -------------------------------------------------------------------------------- CUSIP NO. M41415106 SCHEDULE 13G Page 11 of 20 -------------------------------------------------------------------------------- 1. Name of Reporting Person GAP Coinvestments IV, LLC S.S. or I.R.S. Identifica- tion No. of Above Person -------------------------------------------------------------------------------- 2. Check the Appropriate Box (a) [X] if a Member of a Group (b) [_] -------------------------------------------------------------------------------- 3. S.E.C. Use Only -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power 0 Beneficially (6) Shared Voting Power 4,782,387 Owned by Each (7) Sole Dispositive Power 0 Reporting Person (8) Shared Dispositive Power 4,782,387 -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,782,387 -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ______ -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 24.8% -------------------------------------------------------------------------------- 12. Type of Reporting Person OO -------------------------------------------------------------------------------- CUSIP NO. M41415106 SCHEDULE 13G Page 11 of 20 Item 1. (a) NAME OF ISSUER PowerDsine Ltd. (b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES 1 Hanagar St. Neve Ne'eman Industrial Zone Hod Hasharon 45421 Israel Item 2. (a) NAMES OF PERSONS FILING General Atlantic Partners, LLC ("GAP") GAP (Bermuda) Limited ("GAP GenPar") General Atlantic Partners 78, L.P. ("GAP 78") General Atlantic Partners (Bermuda), L.P. ("GAP Bermuda") GapStar, LLC ("GapStar") GAP-W International, L.P. ("GAP-W") GAPCO GmbH & Co. KG ("KG") GAPCO Management GmbH ("GmbH") GAP Coinvestments III, LLC ("GAPCO III") GAP Coinvestments IV, LLC ("GAPCO IV", and together with GAP, GAP GenPar, GAP 78, GAP Bermuda, GapStar, GAP-W, KG, GmbH and GAPCO III the "Reporting Persons") (b) ADDRESS OF PRINCIPAL BUSINESS OFFICE c/o General Atlantic Service Corporation 3 Pickwick Plaza Greenwich, CT 06830 (c) CITIZENSHIP GAP -- Delaware GAP GenPar -- Bermuda GAP 78 -- Delaware GAP Bermuda -- Bermuda GapStar -- Delaware GAP-W -- Delaware KG -- Germany GmbH -- Germany GAPCO III -- Delaware GAPCO IV -- Delaware CUSIP NO. M41415106 SCHEDULE 13G Page 13 of 20 (d) TITLE OF CLASS OF SECURITIES Ordinary Shares, par value NIS 0.01 per share (the "Shares") (e) CUSIP NUMBER M41415106 Item 3. This statement is not filed pursuant to either Rule 13d-1(b) or 13d-2(b) or (c). Item 4. As of December 31, 2004, GAP, GAP GenPar, GAP 78, GAP Bermuda, GapStar, GAP-W, KG, GmbH, GAPCO III and GAPCO IV each owned of record no Shares, no Shares, 1,791,328 Shares, 1,445,163 Shares, 59,784 Shares, 1,172,778 Shares, 4,962 Shares, no Shares, 240,618 Shares and 67,754 Shares, respectively, or 0.0%, 0.0%, 9.3%, 7.5%, 0.3%, 6.1%, 0.0%, 0.0%, 1.2% and 0.4%, respectively, of the issued and outstanding Shares. GAP is the general partner of GAP 78 and the sole member of GapStar. GAP GenPar is the general partner of both GAP Bermuda and GAP-W. The managing members of GAP are Steven A. Denning, Peter L. Bloom, Mark F. Dzialga, Klaus Esser, Vince Feng, William E. Ford, William O. Grabe, Abhay Havaldar, David C. Hodgson, Braden R. Kelly, Rene M. Kern, Marc F. McMorris, Matthew Nimetz, Franchon M. Smithson, Tom C. Tinsley, Phillip P. Trahanas, and Florian Wendelstadt (collectively, the "GAP Managing Members"). The GAP Managing Members are the directors and senior executive officers of GAP GenPar. The Managing Members of GAPCO III and GAPCO IV are GAP Managing Members. The general partner of KG is GmbH. Messrs. Denning and Hodgson are shareholders of GAPCO Management GmbH. Mr. Trahanas is a director of the Company. By virtue of the fact that (i) the GAP Managing Members are the directors and senior executive officers of GAP GenPar, (ii) GAP is the general partner of GAP 78 and the sole member of GapStar, (iii) GAP GenPar is the general partner of both GAP Bermuda and GAP-W, (iv) the Managing Members of GAPCO III and GAPCO IV are GAP Managing Members and (v) the GAP Managing Members are authorized and empowered to vote and dispose of the securities held by KG and GmbH, the Reporting Persons may be deemed to share voting power and the power to direct the disposition of the Shares which each owns of record. Accordingly, as of December 31, 2004, each of the Reporting Persons may be deemed to own beneficially an aggregate of 4,782,387 Shares or 24.8% of the issued and outstanding Shares. Each of the Reporting Persons has the shared power to direct the vote and the shared power to direct the disposition of the 4,782,387 Shares that may be deemed to be owned beneficially by each of them. Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS CUSIP NO. M41415106 SCHEDULE 13G Page 14 of 20 Not applicable. Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON See Item 4. Item 7. IDENTIFICATION AND CLASSIFICATION OF SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY Not applicable. Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP See Item 4. Item 9. NOTICE OF DISSOLUTION OF GROUP Not applicable. Item 10. CERTIFICATION Not applicable. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] CUSIP NO. M41415106 SCHEDULE 13G Page 15 of 20 SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated as of February 14, 2005 GENERAL ATLANTIC PARTNERS, LLC By: /s/ Thomas J. Murphy --------------------------------------- Name: Thomas J. Murphy Title: Attorney-in-Fact GAP (BERMUDA) LIMITED By: /s/ Matthew Nimetz --------------------------------------- Name: Matthew Nimetz Title: Vice President GENERAL ATLANTIC PARTNERS 78, L.P. By: General Atlantic Partners, LLC, its General Partner By: /s/ Thomas J. Murphy ---------------------------------- Name: Thomas J. Murphy Title: Attorney-in-Fact GENERAL ATLANTIC PARTNERS (BERMUDA), L.P. By: GAP (Bermuda) Limited, its General Partner By: /s/ Matthew Nimetz ---------------------------------- Name: Matthew Nimetz Title: Vice President CUSIP NO. M41415106 SCHEDULE 13G Page 16 of 20 GAPSTAR, LLC By: General Atlantic Partners, LLC, its Sole Member By: /s/ Thomas J. Murphy ---------------------------------- Name: Thomas J. Murphy Title: Attorney-in-Fact GAP-W INTERNATIONAL, L.P. By: GAP (Bermuda) Limited, its General Partner By: /s/ Matthew Nimetz ---------------------------------- Name: Matthew Nimetz Title: Vice President GAPCO GMBH & CO. KG By: GAPCO Management GmbH, its General Partner By: /s/ Matthew Nimetz --------------------------------- Name: Matthew Nimetz Title: Managing Director GAPCO MANAGEMENT GMBH By: /s/ Matthew Nimetz --------------------------------------- Name: Matthew Nimetz Title: Managing Director GAP COINVESTMENTS III, LLC By: /s/ Thomas J. Murphy --------------------------------------- Name: Thomas J. Murphy Title: Attorney-in-Fact CUSIP NO. M41415106 SCHEDULE 13G Page 17 of 20 GAP COINVESTMENTS IV, LLC By: /s/ Thomas J. Murphy --------------------------------------- Name: Thomas J. Murphy Title: Attorney-in-Fact