Salesforce Signs Definitive Agreement to Acquire Slack for $27.7 Billion
Vancouver - 1st December 2020 - Salesforce, the global leader in CRM, and Slack Technologies, Inc, the most innovative enterprise communications platform, have entered into a definitive agreement under which Salesforce will acquire Slack. Under the terms of the agreement, Slack shareholders will receive $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share, representing an enterprise value of approximately $27.7 billion based on the closing price of Salesforce’s common stock on 30th November 2020. Marc Benioff, Chair and CEO, Salesforce, said: “Stewart and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it. This is a match made in heaven. Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world. I’m thrilled to welcome Slack to the Salesforce Ohana once the transaction closes.”
Facebook Acquires Kustomer for $1 Billion
30th November 2020 - Social media giant, Facebook has agreed to acquire start up, Kustomer, in a deal that will bolster its efforts to monetize its messaging business. Kustomer is an omnichannel CRM platform that brings customer conversations from various channels together into a single-screen view. It helps businesses automate repetitive tasks so their agents can maximize the time and quality of interactions with customers. Facebook plans to support Kustomer’s operations by providing the resources it needs to scale its business, improve and innovate its product offering. In a blog announcing trh acquisition, Dan Levy, VP of Ads and Business Products, and Matt Idema, COO, WhatsApp, commented: “Kustomer is one of many solutions in this arena, and we’ll continue to support the numerous options that businesses have to integrate their CRM platform of choice with our messaging services. We want businesses of all sizes and across all industries to discover the value of messaging — and having a vibrant partner ecosystem is critical in providing our customers with choices.
Lightspeed Announces Acquisition of Upserve to Further Omnichannel Revolution of American Restaurant Industry
Montreal - 1st December 2020 - Lightspeed POS Inc, a provider of cloud-based, omnichannel commerce platforms, has announced it has acquired Upserve Inc., a restaurant management cloud-software company based in Rhode Island and a Vista Equity Partners portfolio company. The acquisition strengthens Lightspeed's position as an industry leader with high-performing restaurateurs across the United States as those restaurants refine the digital dining experience. The union of Lightspeed and Upserve will accelerate product innovation and the advancement of Lightspeed's analytics-driven commerce platform. A convergence of the two companies' teams and technology will provide independent restaurants in the United States, from fine-dine to multi-location fast-casual, one of the most competitive hospitality platforms on the market and enable the industry to more easily navigate the new dining needs made permanent by the COVID-19 pandemic. Upserve CEO, Sheryl Hoskins, commented: "Through its analytics-based POS and restaurant management solutions, Upserve has been delivering actionable insights to restaurateurs for over a decade. Lightspeed is quickly emerging as a world-leading commerce platform for SMBs and partnering with them to deliver data-based insights through a single digital hub was a natural choice. Together we look forward to empowering North American restaurateurs to deliver superior guest experiences and make them wildly successful."
Converge Technology Solutions Completes Acquisition of Workgroup Connections
Toronto, Ontario, Canada – 2nd December 2020 – Converge Technology Solutions Corp, a national platform of regionally focused Hybrid IT solution providers in the US and Canada, has announced that it has acquired Workgroup Connections, Inc, a technology solutions company that helps businesses through leading-edge cloud, software development, and licensing services and solutions. “The addition of Workgroup Connections marks another boost to Converge’s already considerable array of cloud and software offerings,” said Shaun Maine, CEO of Converge. “On top of its experience with big players in the current North American market, Workgroup Connections brings skilled resources who collectively hold over 80 certifications from partners who are currently driving innovation in IT – including AWS, IBM, and Microsoft – to our team. The technical and business resources of our newest Converge family member will provide specialized skill sets for our practice areas supporting our Central and Western regions.”
Nuvei to Acquire Base Commerce for £1.1 Billion CAD
Montreal, Canada - 1st December 2020 - Nuvei Corporation, the global payment technology company, has announced it has entered into a purchase agreement to acquire substantially all of the assets of Base Commerce, LLC (Base), a provider of integrated payment solutions. Philip Fayer, Nuvei’s Chairman and CEO, said: “We are thrilled to announce our agreement to acquire Base Commerce, a leading payment solutions provider with a merchant-first philosophy that matches our own. This acquisition will significantly expand our product capabilities with a proprietary ACH processing platform as well as further build and diversify our acquiring portfolio, adding high margin verticals. We are excited for the Base team to join us on our mission to make our world a local marketplace.”
Gainsight Announces Majority Investment from Vista Equity Partners for $1.1 Billion
San Francisco, CA – 30th November 2020 – Gainsight, the Customer Success company, has announced it has signed an agreement to receive a majority investment from Vista Equity Partners (Vista), a global investment firm focused on enterprise software, data and technology-enabled businesses. Gainsight and Vista will partner to further accelerate the Customer Success movement and growth in the Customer Success profession. CEO at Gainsight, Nick Mehta, said: “We learned about Vista because many of their portfolio companies are Gainsight customers and we saw how they partner with leading enterprise software businesses to accelerate success. Reaching unicorn status and working with Vista is validation of how far the Customer Success community has come over the last seven years and how important our work is to the growth and financial strength of some of the world’s leading businesses. I couldn’t be more excited to partner with the Vista team to drive more innovation, more impact and continued success for the community as a whole.”
Microsoft 365 Data Management Solutions Provider, AvePoint, Announces $2bn Merger
Jersey City, NJ – 23rd November 2020 - AvePoint, Inc, the largest data management solutions provider for the Microsoft cloud, has announced that it has entered into a definitive business combination agreement with Apex Technology Acquisition Corporation, a publicly traded special purpose acquisition company (Apex). It is expected that the combined company will be named AvePoint and will remain a publicly traded company listed on the Nasdaq Stock Market under a new ticker symbol, “AVPT.” Commenting on the transaction, co-founder and CEO, Dr. Jiang, said: “AvePoint provides critical data management solutions that enable organizations to make their digital collaboration systems more productive, secure and compliant. The impact of COVID-19 and the growth of Microsoft’s cloud solutions, including Microsoft 365 and Microsoft Teams, have accelerated demand for our products. And we were growing prior to COVID-19 as well. We have achieved eight quarters of impressive growth. We have positive free cash flow and are in line with the key ‘Rule of 40’ SaaS industry growth metric.”
NBS joins Byggfakta to bolster growth
Newcastle - 27th November 2020 - NBS, the construction technology platform, has announced that it has joined the Byggfakta Group, a data and software provider to the European construction industry. Byggfakta Group is backed by private equity firms Stirling Square Capital Partners and TA Associates. In recent years, NBS has transformed into a Software as a Service (SaaS) provider. The NBS platform brings construction specifiers, manufacturers and contractors together, to improve the quality of project decision making, drive product specification and provide critical insights, through a unique digital toolset. The company has grown significantly in the last two years, both organically and via acquisitions, resulting in increased international revenues, with permanent bases now established in both Canada and Australia, alongside the recent acquisition of SCL Schumann and Ezyspec in Australia. The company also invested significantly in its product suite, transitioning legacy on-premise products into two flagship cloud-based solutions, NBS Chorus and NBS Source.
Tulip acquires Timekit to further expand retail mobile solutions and accelerate innovation
Toronto, Ontario – 24th November 2020 - Tulip, a global retail mobile solutions provider, has announced it has completed its acquisition of Timekit, an advanced scheduling and resource management system. With the acquisition of Timekit, Tulip is positioned to play a greater role in driving digital transformation, enabling enterprise retailers around the world to enhance connected customer experiences with real-time scheduling, personalize every store visit, and drive revenue growth. Ali Asaria, Founder and CEO at Tulip, commented: “COVID-19 is forcing many retailers to accelerate their technology transformations to ensure they come out ahead. That’s why we at Tulip are investing and expanding our omnichannel solutions to help brands navigate this new reality and remain profitable. Timekit is an extraordinary company, with an API-first approach that next-generation retailers demand offering them unlimited flexibility and customization. With this acquisition, we can transform the way retailers engage with their customers through appointments and solve the challenge of scheduling with a highly scalable and secure solution.”
NBS acquires SCL Schumann
Newcastle - 23rd November 2020 - NBS, the construction technology platform, has announced the acquisition of Australian specification consultancy SCL Schumann (SCL) along with its specification software tool Ezyspec. This acquisition will create Australia’s most comprehensive, consistent and up-to-date platform for building product information and architectural specifications as well as providing world-class consulting services. The SCL acquisition is another milestone in NBS’ global expansion plans and offers access to a customer base that comprises over 100 architectural firms, including most of the Top 50 Australian architecture practices. Colin Smith, Executive Chairman, says, “Construction technology is increasingly expected to be a fundamental part of a building project, and as the sector digitises there is a rapidly growing demand for truly global solutions. Companies and practices want and expect to be able to use the same tools regardless of international boundaries. Bringing SCL into the NBS family will combine game-changing technology with world-class consultancy expertise. This will offer Australian specifiers additional opportunities to build out their digital toolkit further.”
Intelex Acquires Compliance Automation Provider Ehsai
Toronto, Canada - 19th November 2020 - Intelex Technologies, ULC, a global provider of SaaS-based Environmental, Health, Safety and Quality (EHSQ) management software, has announced that it has acquired ehsAI, a next wave compliance automation technology provider. ehsAI uses Artificial Intelligence (AI) and Machine Learning to help organizations greatly reduce the costs and risks of permitting and compliance management. With this strategic acquisition of an innovator in the emerging AI regulatory content solution market, Intelex deepens its compliance offerings and further extends its EHSQ leadership position. ehsAI offers a unique AI and Machine Learning-enabled solution on a multilingual platform to address compliance on a global scale. President of Intelex, Justin McElhattan, commented: “We are thrilled to have ehsAI join Intelex. ehsAI augments our compliance management solutions and existing regulatory content partnerships. We look forward to innovating in collaboration with ehsAI to solve real customer pains with applied intelligence and advanced analytics. Whether it be compliance for environmental, health, safety, or quality compliance requirements, the possibilities are limitless.”
FastSpring Acquires SalesRight to Support Next Generation of Software Commerce
Santa Barbara, California – 19th November 2020 - FastSpring, a full-service ecommerce partner for software and SaaS companies, has announced its acquisition of SalesRight, a SaaS solution that provides interactive quoting and digital signature tools for B2B sales teams. The addition of SalesRight enables FastSpring to expand its capabilities with a unified ecommerce solution for B2C and B2B software businesses. David Nachman, CEO, FastSpring, said: “This time last year we set out on our mission to support the next generation of software commerce by bringing together the efficiencies of ecommerce to the sales-assisted world of software sales. The combination of SalesRight’s interactive Live Quotes and pricing expertise with FastSpring’s commerce capabilities accelerate this mission tremendously.” He continued, that the similarities in strategic vision and company culture were two of the most exciting aspects of the deal. While the two companies merge, the SalesRight team will continue to operate out of its headquarters in Halifax, Nova Scotia.
Rockwell Automation Enters into an Agreement to Acquire Fiix Inc., Cloud Software Company for Leading Edge Maintenance Solutions
Milwaukee – 17th November 2020 – Rockwell Automation, Inc, a company dedicated to industrial automation and digital transformation, has announced that it has entered into an agreement to acquire Fiix, a privately-held, AI-enabled computerized maintenance management system (CMMS) company. Fiix, founded in 2008, is headquartered in Toronto, Ontario, Canada. Fiix’s cloud-native CMMS creates workflows for the scheduling, organizing, and tracking of equipment maintenance. It connects seamlessly to business systems and drives data-driven decisions. The company’s revenue grew 70% in 2019 with more than 85% recurring revenue. Tessa Myers, Vice President, Product Management, Software & Control, for Rockwell Automation explained the rational for the deal: “We believe that the future of industrial asset management is performance-based. With the addition of the Fiix platform and expertise, our customers will benefit from a 360-degree view of integrated data across automation, production, and maintenance, helping them to monitor and improve the performance of their assets and optimize how maintenance work is done.”