Boss Insights - Quarterly Tech M&A Round-Up - October 2022

Elon Musk Finally Completes Acquisition of Twitter for $44 Billion
San Francisco - 27th October 2022 - According to a filing with the US government, the world's richest man, Elon Musk, has finally completed his $44bn takeover of Twitter. Mr Musk tweeted, "The bird is freed" and later said, "Let the good times roll". The completion of the deal brings to an end months of legal wrangling, where Musk’s acquisition of the social media platform was in doubt. With the deal now going ahead, questions over the platform's future direction proliferate. A number of top executives, including CEO, Parag Agrawal and CFO, Ned Segal, have immediately been fired. Musk has previously stated he intends to trim down the staff by up to 75%. He also backs free speech and has publicly criticised some of Twitter’s moderation decisions – most notably Donald Trump’s lifetime ban.  Despite his public insistence that he bought the company to protect free speech, there is widespread belief that Musk will now restructure Twitter’s operations, boosting revenues in the process. Whilst it is common knowledge that analysts – and Musk himself – believe he has overpaid to secure the deal, many also believe that Twitter has been badly mismanaged and Musk now has the opportunity to refine the platform and once again, make financial whoopie. Whatever is in store for Twitter, the platform will not be allowed to stagnate and the ride will not be dull. We await Musk’s next move with interest.

The Quarter’s Major Acquisitions:

Adobe to Acquire Figma for $20 Billion Creating a New Era of Collaborative Creativity
San Jose, California – 12th September 2022 – Adobe has announced it has entered into a definitive merger agreement to acquire Figma, a web-first collaborative design platform, for approximately $20 billion in cash and stock. The combination of Adobe and Figma will usher in a new era of collaborative creativity. Adobe’s mission is to change the world through digital experiences. The digital economy runs on Adobe’s tools and platforms, and throughout its history, the company’s innovations have touched billions of lives across the globe. From revolutionizing imaging and creative expression with Photoshop; to pioneering electronic documents through PDF; to creating the digital marketing category with Adobe Experience Cloud, Adobe continues to invent and transform categories. Figma’s mission is to help teams collaborate visually and make design accessible to all. Founded by Dylan Field and Evan Wallace in 2012, the company pioneered product design on the web. Today, it is making it possible for everyone who designs interactive mobile and web applications to collaborate through multi-player workflows, sophisticated design systems and a rich, extensible developer ecosystem.


Vista Equity Partners and Evergreen Coast Capital Announce the Completion of the Transaction to Acquire Citrix Systems and Combine It with TIBCO Software - Transaction Value $16.5 Billion
Austin, Texas & Menlo Park, California - 30th September 2022 - Vista Equity Partners, a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, and Evergreen Coast Capital Corp, an affiliate of Elliott Investment Management L.P. (together with its affiliates, collectively, “Elliott”), have announced the successful completion of their previously announced transaction to acquire Citrix Systems, Inc and combine it with TIBCO Software, in a transaction valued at $16.5 billion. Tom Krause, CEO of the combined company, said: “We are excited to create a new global leader in enterprise software, designed for scale and growth, through the combination of Citrix and TIBCO. The platform we have built will expand and deepen our relationships with our valued customers and partners, drive the future of mission-critical cloud software solutions and create long-term value for all our stakeholders.”


CVS Health to Acquire Signify Health for $8 Billion
Woonsocket, Dallas & New York – 5th September 2022 - CVS Health and Signify Health have entered into a definitive agreement under which CVS Health will acquire Signify Health for $30.50 per share in cash, representing a total transaction value of approximately $8 billion. With a network of more than 10,000 clinicians across all 50 states and a nationwide value-based provider network, combined with its proprietary analytics and technology platforms, Signify Health is improving patient engagement, patient outcomes and care coordination for stakeholders across the health care system. CVS Health President and CEO, Karen S. Lynch, said: "Signify Health will play a critical role in advancing our health care services strategy and gives us a platform to accelerate our growth in value-based care. This acquisition will enhance our connection to consumers in the home and enables providers to better address patient needs as we execute our vision to redefine the health care experience. In addition, this combination will strengthen our ability to expand and develop new product offerings in a multi-payor approach."


NortonLifeLock Completes $6 Billion Merger with Avast
Tempe, Arizona & Prague - 12th September 2022 - NortonLifeLock, a global specialist in Cyber Safety, has announced it has completed its previously announced acquisition of Avast, now approved by the UK’s Competition & Markets Commission (CMA). With the completion of the transaction, trading in Avast shares was suspended at 7:30 a.m. BST on September 12, 2022, and the Avast shares were delisted from the London Stock Exchange effective as of September 13, 2022, at 8:00 a.m. BST. The Combined Company will operate as NortonLifeLock Inc. and discuss its shared financials and metrics during the fiscal year 2023 second-quarter earnings release call. As it starts merging its operations, the Combined Company will soon announce a new name that reflects the forward-thinking vision and scale of its comprehensive Cyber Safety platform and trust-based solutions for consumers around the world. It will also begin trading under a new stock ticker under the new company name on NASDAQ. Until that time, the Combined Company will operate as NortonLifeLock Inc. and continue trading on NASDAQ under its current "NLOK" ticker symbol.


OpenText to Acquire Micro Focus International plc for $6 Billion
Waterloo, Ontario – 25th August 2022 - OpenText™ has announced that it has reached agreement on the terms of a recommended all-cash offer to be made by Open Text Corporation, through its wholly-owned subsidiary, OpenText UK Holding Limited (Bidco), to acquire the entire issued and to be issued share capital of Micro Focus at a price of 532 pence per share (the Acquisition), implying an enterprise value of approximately $6.0 billion on a fully diluted basis. Micro Focus serves thousands of organizations globally, including many of the largest companies in the Fortune Global 500 and had approximately $2.7 billion pro forma trailing twelve months (TTM) revenue for the period ended April 30, 2022. “We are pleased to announce our firm intention to acquire Micro Focus, and I look forward to welcoming Micro Focus customers, partners and employees to OpenText,” said OpenText CEO & CTO Mark J. Barrenechea. “Upon completion of the acquisition, OpenText will be one of the world’s largest software and cloud businesses with a tremendous marquee customer base, global scale and comprehensive go-to-market. Customers of OpenText and Micro Focus will benefit from a partner that can even more effectively help them accelerate their digital transformation efforts by unlocking the full value of their information assets and core systems.”


KnowBe4 to be Acquired by Vista Equity Partners For $4.6 Billion
Tampa Bay, Florida – 12th October 2022 - KnowBe4, Inc, provider of security awareness training and simulated phishing platform, has announced that it has entered into a definitive agreement to be acquired by Vista Equity Partners in an all-cash transaction valued at approximately $4.6 billion on an equity value basis. Founder, Chairman and Chief Executive Officer of KnowBe4, Stu Sjouwerman, said: “Today’s announcement is a testament to the success of our strategy and the strength of our incredible team. This acquisition by Vista represents the next phase of our journey. KnowBe4 has a strong record of performance, as evidenced by our market-leading platform and global customer base. Under Vista’s ownership, we will have access to additional resources and support, which will help us achieve our goals and deliver enhanced value to our customers. We look forward to partnering with Vista’s team to continue empowering businesses worldwide to strengthen their human firewall and make smarter security decisions every day.”


Roper Technologies to Acquire Frontline Education for $3.7 Billion
Sarasota, Florida – 30th August 2022 - Roper Technologies, Inc, has announced that it has reached a definitive agreement to acquire Frontline Education in an all-cash transaction valued at approximately $3.725 billion. Including a tax benefit resulting from the transaction, the net purchase price is approximately $3.375 billion, representing approximately 19 times Frontline’s estimated 2023 EBITDA. Frontline’s broad portfolio includes solutions for proactive recruiting and hiring, absence and time management, professional growth, student information systems, special education, special programs, Medicaid reimbursement, school health management, inventory control and asset management, payroll, benefits and financial management, and analytics solutions that help district leaders tap into their data to make more informed decisions for the benefit of their students and communities. Frontline’s management team will continue to lead the business from its Malvern, Pennsylvania headquarters. Frontline’s name, brands, and office locations will not change as a result of the transaction.


Thoma Bravo Completes Acquisition of Ping Identity for $2.8 Billion
Denver, Colorado – 18th October 2022 - Ping Identity, the intelligent identity solution for the enterprise, announced the completion of its acquisition by Thoma Bravo, a software investment firm, in an all-cash transaction valued at approximately $2.8 billion. The agreement to be acquired was previously announced on August 3, 2022 and approved by Ping Identity stockholders at Ping Identity's Special Meeting of Stockholders held on October 17, 2022. Andre Durand, CEO and founder of Ping Identity, commented: "The closing of this transaction underscores how identity security and frictionless user experiences have become essential in the digital-first economy. With the support of Thoma Bravo, Ping Identity can further accelerate innovation to deliver the easy and secure digital experiences customers demand from every industry. We are excited that this next chapter provides the opportunity to better serve global enterprises on their digital transformation journey.",valued%20at%20approximately%20%242.8%20billion.


TELUS Completes c$2.3 Billion Acquisition of LifeWorks
Vancouver, Toronto – 1st September 2022 - TELUS Corporation has announced the completion of the previously disclosed acquisition of LifeWorks Inc., a provider of digital and in-person solutions that support the total well-being of individuals - mental, physical, financial and social, solidifying TELUS Health as one of the largest companies providing digital-first health and wellness services and solutions that empower individuals to live their healthiest lives. President and CEO of TELUS, Darren Entwistle, commented: “Today marks another exciting step in our TELUS Health journey, as we welcome the talented LifeWorks team, and the 36 million employees and family members of our business customers who they support, into our TELUS Health family. As one of the largest health technology companies globally, our newly expanded TELUS Health organisation will provide employers across the globe with world-leading digital health and wellness solutions for their employees that are convenient, innovative and highly effective..”


Naver to Acquire PoshMark for $1.2 Billion
Seongnam-SI, South Korea & Redwood City, California – 3rd October 2022 - Naver Corp, Korea’s largest internet company, and Poshmark, Inc., a social e-commerce marketplace for new and secondhand style, have announced that they have entered into a definitive agreement under which Naver will acquire all of the issued and outstanding shares of Poshmark for $17.90 in cash, representing an enterprise value of approximately $1.2 billion. The addition of Poshmark will expand and diversify Naver’s search-driven e-commerce business into the global secondhand C2C market for fashion. The combination will also allow Naver to capitalize on the increasing consumer shift in fashion to online re-commerce, which is an $80 billion market today in the U.S. alone, and is expected to grow by 20% annually to $130 billion by 2025. Choi Soo-Yeon, Chief Executive Officer of Naver, commented: “The combination will create the strongest platform for powering communities and re-fashioning commerce. Poshmark is the definitive brand for fashion in the United States that provides a social network for buying and selling apparel. Naver’s leading technology in search, AI recommendation and e-commerce tools will help power the next phase of Poshmark’s global growth.”


RPA Company UiPath Acquires Natural Language Processing Company Re:infer
New York, NY – 1st August 2022 - Enterprise automation software company, UiPath, has announced it has acquired Re:infer, a London-based natural language processing (NLP) company for unstructured documents and communications. Founded in 2015 by Ph.D. scientists from the AI research lab at University College London, Re:infer uses machine learning (ML) technology to mine context from communication messages and transform them into actionable data with speed and accuracy. “Automation and AI are a powerful and natural pair that together empower the vision of the fully automated enterprise™,” said Ted Kummert, Executive Vice President, Products & Engineering at UiPath. “Our customers are awash in documents, communications, and data that they need to understand the meaning of and process efficiently. Combining Re:infer’s NLP technology with our Document Understanding and AI products expands the breadth of our current AI-powered automation capabilities and unlocks new automation opportunities for our customers.” The newly acquired Communications Mining capability enables UiPath’s software robots to understand email context and semantics, online chats, and voice sessions, delivering superior customer service interactions.


Other Acquisitions by month:

IRIS Software Group Acquires myPay Solutions
Slough, UK - 26th October 2022- IRIS Software Group (IRIS), a global software provider of accountancy solutions, has announced it has acquired Thomson Reuters myPay Solutions, a trusted online payroll processing service designed to empower CPAs. myPay Solutions provides comprehensive outsourced payroll and associated banking and tax services via CPA firms to small and medium-sized businesses across all 50 states in the United States. The acquisition is a further strategic step in IRIS’ mission to better serve the CPA market in the Americas, adding a complementary service offering to IRIS’ domestic and international payroll, and HR consultancy. IRIS brings together leading technology, capability and fundamental knowledge to help CPAs address the challenges and opportunities of growing and supporting American businesses. This news follows a stellar year of growth for IRIS in the Americas as the company continued to expand its regional footprint. IRIS completed key acquisitions of accounting technology providers Conarc, Doc.It and AccountantsWorld to provide accountants with the solutions they need, united by the IRIS mission to take the pain out of processes. IRIS has also made key C-level appointments in the region, including Jim Dunham as President and General Manager.


Stratasys Acquires Software Company Riven to Streamline Quality Assurance for Production-Scale Additive Manufacturing
Eden Prairie, Minnesota & Rehovot, Israel – 25th October 2022 - Stratasys Ltd, a major player in polymer 3D printing solutions, has announced the acquisition of quality assurance software company, Riven. The Berkeley, California-based start-up has been a Stratasys connectivity software partner and its cloud-based software solution will now be fully integrated into Stratasys’ GrabCAD® Additive Manufacturing Platform, benefiting customers using any Stratasys 3D printer running GrabCAD Print software. Stratasys Vice President of Global Software Shaul Samara, commented: “We believe that by identifying state of the art technology platforms and cultivating them under the Stratasys umbrella, companies like Riven can add incremental growth engines to our platform. By integrating Riven’s offerings into our GrabCAD software platform, we will enable more manufacturing customers to adopt Stratasys solutions for end-use parts production. This important functionality will help ensure production-scale parts are 3D printed accurately and can be inspected quickly within a closed-loop additive manufacturing process. The acquisition of Riven is another example of how we are working to ensure we are providing our customers with complete solutions across the entire additive manufacturing digital thread.”

Field Agent Acquires SimpliField
Fayetteville, Arkansas & Paris, France - 20th October 2022 - Field Agent has announced the acquisition of SimpliField, a mobile-first, distributed workforce management platform based in Paris, France. The goal of the transaction is to bring brands, retailers and restaurants the tools to win at in-store retail by identifying, analysing and improving retail operations. According to Rick West, Field Agent CEO and Co-Founder, the acquisition will combine the best of retail auditing with the best of retail performance management. "SimpliField's vision for efficient, customer-focused retail operations is perfectly aligned with our roadmap for ever-evolving retail solutions and tools," West said. "With the acquisition, we're bringing together the power of the crowd with the extensive retail experience of both companies." SimpliField CEO and Co-Founder, Benjamin Zenou. said : "The net effect of the acquisition will be seen immediately. SimpliField will capitalize on Field Agent's deep knowledge of the North American market as we support their expansion in EMEA."


Cegedim Acquires French Medical Data Company, Clinityx
Boulogne-Billancourt, France - 20th October 2022 - Cegedim, an innovative technology, services and health data company, has announced the acquisition of Clinityx, a company focused on unlocking the full potential of health data in France. This addition to the portfolio of THIN®-driven Real-World Data and Real-World Evidence solutions headed by the Cegedim Health Data division, furthers Cegedim’s ambition of becoming Europe’s real-world health data leader. David Syr, Deputy Managing Director of GERS Data, the French division of Cegedim’s data business, commented: “With its unique blend of regulatory and technological know-how, Clinityx boosts our real-world data offering and expands the scope of possible applications. It will enable us to reduce the set-up time of studies using these types of data sources for all healthcare stakeholders —pharma companies, research organizations, academic institutions, and health authorities—both in France and Europe, and thus better serve the interests of public health.”


FLEETCOR® to Acquire European Workforce Lodging Business
Atlanta & Dublin, Ireland – 20th October 2022 - FLEETCOR Technologies, Inc, a global business payments company, has announced it has signed a definitive agreement to acquire Roomex, a European workforce lodging provider serving the UK and German markets. The acquisition extends FLEETCOR's US workforce lodging business to Europe and provides a platform for further international expansion. The transaction is expected to close in November. FLEETCOR’s existing lodging business books tens of millions of hotel room nights annually across a network of 45,000 hotel properties, primarily in the US. The lodging solutions provide customers with savings, specialized controls and consolidated invoices. “Roomex gives us a very similar workforce lodging business in Europe. It provides us a base of operations, expertise and a hotel network from which we can build out the lodging business across Europe while leveraging the significant client base we already have there,” said Ron Clarke, chairman and Chief Executive Officer, FLEETCOR Technologies, Inc.


Incline Acquires Non-Profit SaaS Provider, iWave
Pittsburgh, Pennsylvania & Prince Edward Island, Canada – 20th October 2022 - Incline Equity Partners, has announced its partnership with iWave, a subscription software platform offering fundraising intelligence and data solutions to non-profit organizations. The Company provides an intuitive, all-in-one platform that combines its comprehensive database with proprietary analytics and scoring algorithms to deliver customized, actionable intelligence to enhance fundraising efforts. CEO of iWave, Ross Beattie, explained: “Since our founding in 1991, we’ve empowered our clients to effectively engage with donors to support their missions. Incline’s technology expertise and resources, like the Catalyst Group, make them the ideal partner for our next chapter of growth.  We look forward to expanding our solutions and capabilities through innovative new product development and feature enhancements.  We remain committed to helping non-profit organizations make an even greater impact.”


Cherry Bekaert Bolsters Risk & Accounting Advisory Practice with Accume Partners Acquisition
Raleigh, North Carolina – 19th October 2022 - Cherry Bekaert has announced the acquisition of Accume Partners, a risk and compliance advisory company that delivers integrated solutions to highly regulated industries, from Nadavon Capital Partners. The acquisition of Accume expands Cherry Bekaert’s focus on providing internal audit, risk and compliance offerings to the financial services industry. The addition also expands the Firm’s risk advisory practice with a strong mid-Atlantic and Northeast presence. Michael Barrack, Chief Executive Officer of Accume Partners, commented: “Our firm has strong roots in providing tailored internal audit, regulatory compliance, and technology risk management services while meeting the regulatory expectations of our financial services clients. Working together, we are excited to provide our clients with broader service offerings such as tax, digital services, data analytics and more available through Cherry Bekaert.”


Verseon Acquires Edammo
Fremont, California – 18th October 2022 - Verseon International Corporation, the company leading a technology-driven transformation of the pharmaceutical industry, has announced that it has acquired Edammo, Inc. Verseon has spent much of the past two decades pioneering scientific advances in molecular physics, chemistry, biology and AI to create the world's most advanced drug-discovery platform. This platform now systematically produces entire families of novel drug candidates that cannot be found by any other current method - candidates whose uniquely desirable therapeutic profiles promise to change the standard of care for every disease they address. The company has officially announced seven programs to date for conditions that include heart disease, diabetes and cancer. When developing completely novel drugs, the available dataset is often small and sparse. And big-data dependent AI can't solve small-data problems easily. Verseon has continued to develop its own specialized AI tools internally to handle these situations.


BioIntelliSense  Acquires AlertWatch
Denver, Colorado – 18th October 2022 – BioIntelliSense, a continuous health monitoring and clinical intelligence company, has announced its acquisition of AlertWatch®, an FDA-cleared, clinically proven patient monitoring solution. AlertWatch uniquely provides robust integration, data analysis and a patented intuitive display of contextual patient data for more efficient, actionable clinical decisions. As part of the recently announced strategic partnership with Medtronic, its Patient Monitoring business will distribute AlertWatch to hospitals throughout the U.S. as a new offering in its HealthCast™ portfolio. James Mault, MD, founder and CEO of BioIntelliSense. Commented: “The addition of AlertWatch offers healthcare providers comprehensive continuous monitoring solutions, and an accelerated path from adoption to full scale utilization. The patented AlertWatch multi-parameter interface displays and analyzes data from inpatient vitals, the electronic medical record (EMR), laboratory systems and BioIntelliSense medical-grade wearables, to provide clinical intelligence across care settings and acuity levels.”


Sitero Acquires Axiom Mentor
Miami, Florida – 17th October 2022 - Sitero has announced its acquisition of Axiom, a technology provider of SaaS compliance solutions to higher education, IRB, IBC, Clinical and commercial research organizations. The acquisition supports Sitero's vision of providing technology-enabled solutions to ensure the safety and protection of patients and the research community, with an emphasis on ethics, compliance, and innovation.  The Axiom Mentor product suite allows Sitero to leverage its market presence and domain expertise to serve and expand Axiom's current customer base while uniting their complementary services with a cutting-edge technology platform. Sitero is excited to introduce a next-generation product suite built with intelligent automation to a sector struggling with antiquated technology solutions. "With a host of innovative solutions aligned to our vision, the Axiom Mentor platform adds a technology dimension to Sitero's already unique value proposition," said Sankesh Abbhi, CEO of Sitero. "This acquisition highlights Sitero's commitment to providing innovative, predictive solutions, built with intelligent automation that aim to change how the IRB, IBC, IACUC and higher education sectors manage their compliance."


Follett Higher Education Acquires Willo Labs
Westchester, Illinois – 17th October 2022 - Follett Higher Education, a North American campus retailer, has announced the acquisition of Indianapolis-based Willo Labs, the technology platform that gives campuses complete control over their digital learning access and makes it easier to achieve academic, equity and total privacy goals with digital course materials. Follett Higher Education CEO Emmanuel Kolady, said: "This is a tremendous opportunity for Follett to enhance its services for students and instructors, making their experience even more seamless and secure. Willo is the best-performing course materials edtech platform out there. By bringing the company under the Follett Higher Education umbrella, we will be better positioned to support institutions, enhance security and privacy, and further strengthen the learning experience."


LegalZoom Acquires Document Automation and Forms Template Company, Revv
Glendale, California – 17th October 2022 -, Inc, an online platform for legal, compliance and tax solutions, has acquired Revv, a Global SaaS, Bangalore, India-based document automation and forms template company. Revv’s proprietary technology will enhance LegalZoom’s forms library and legal templates offerings and will be used to develop modern product experiences and services for small businesses. “The acquisition of Revv demonstrates our continued focus on scaling critical engineering and product talent to deliver the best products and services for small businesses,” said Dan Wernikoff, CEO of LegalZoom. “The addition of Revv through this transaction also gives us access to the attractive Bangalore talent market, and will ultimately help us deliver on our business priorities as we head into 2023.”


Sentrics Expands Senior Living Footprint with Acquisition of Connected Living
Daytona Beach, Florida - 14th October 2022 - Sentrics has announced the acquisition of Connected Living, a resident engagement platform that makes it easier for more than 550 communities and their residents to communicate and interact. The platform includes a centralized content management system and Comprehensive product ecosystem that helps operators share messages with whom they want, when they want and how it is best received easily and quickly. The Connected Living technology will become part of the Sentrics Engage360℠ suite, which leverages the television experience to create a unique wellbeing engine, offering recommendations to personalize engagement for every resident and improve their overall community experience. Peter Bailey, Chief Executive Officer of Sentrics, said: “Residents who stay socially engaged are more likely to experience longevity with vitality. While COVID highlighted the negative effects of social isolation, the fact remains that it’s difficult to continually engage a resident on his or her individual terms.  Our Engage360 resident engagement platform makes it easier for residents to engage right through a technology they already know—their TV—while also providing staff with unique tools to identify when a resident may need more help engaging..”


Unifonic Announces Acquisition of Sestek, Diversifying its Offerings & Expanding Its Geographical Reach as a Customer Engagement Company
Riyadh, Saudi Arabia – 12th October 2022 - Unifonic, a Communications Platform as a Service (CPaaS) provider, has announced the acquisition of Sestek, an R&D-focused AI-powered conversational automation company. Founded in 2000 with the goal of revolutionizing speech-tech, Sestek has developed a suite of AI-powered conversational solutions that empower companies to deliver a superior customer experience. Sestek’s current customers include large enterprises (including banks and financial services), global contact center technology and business process outsourcing providers. Unifonic Co-Founder and CEO, Ahmed Hamdan, commented: Unifonic and Sestek share an ongoing commitment to disrupting the fast-growing and evolving customer engagement space. Sestek’s omnichannel and AI-powered conversational automation solutions significantly enhance Unifonic’s product portfolio. With our combined technology and go-to-market capabilities, we will continue to deliver on our growth objectives, while effectively leveraging Sestek’s capabilities across our clientele and strategic markets.”


Gradient AI Acquires Healthcare Analytics Business Unit from Prognos Health
Phoenix, Arizona - 10th October 2022 - Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, has announced that it has acquired Prognos Health’s analytics business underwriting unit to leverage data from the company’s large collection of integrated medical records and lab data via its real-world data marketplace. The acquisition will enable Gradient AI to expand its medical database capabilities by integrating Prognos Health’s data with SAIL™, Gradient AI’s leading medical underwriting solution. Medical records on 325 million de-identified U.S. patients can be accessed through the Prognos Marketplace. “The acquisition of Prognos underwriting business unit is a game changer. Our combined solution will provide a holistic picture of group health risk that has never before been possible,” said Stan Smith, CEO and founder, Gradient AI. “Insurers will now have a single point of access to multiple data sources, covering medical, prescription and lab data improving their abilities to project group health assessments and costs with much greater confidence.”


Capgemini Strengthens its Data & Analytics Capabilities in Germany with Acquisition of Braincourt
Paris, 7th October 2022 – Capgemini announced today that it has entered into a share purchase agreement (SPA) to acquire Braincourt, a specialist in business intelligence and data science services. The acquisition will enhance Capgemini’s in demand data and analytics capabilities in Germany and Northern Europe. The transaction is expected to be completed in the coming days. “Braincourt will bring to Capgemini a well-established track record in the design and implementation of advanced business intelligence, AI, analytics and data science solutions for optimizing performance management and business processes,” said Zhiwei Jiang, CEO of Capgemini’s Insights & Data Global Business Line and member of the Group Executive Committee. “The team of experts are a natural fit for Capgemini in terms of culture, as well as their portfolio of data driven services, key accounts and competences. I am happy to welcome them to the Group.”


Alert Innovation Signs Definitive Agreement to Be Acquired by Walmart
Andover, Massachusetts – 6th October 2022 - Alert Innovation, a company specialising in e-grocery fulfillment automation, has signed a definitive agreement to be acquired by Walmart. Alert Innovation has been working with Walmart to customize technology for Walmart’s market fulfillment centers (MFCs) since 2016 and began piloting the Alphabot System in Walmart’s first MFC in Salem, New Hampshire in 2019. David Guggina, Senior Vice President of Innovation and Automation, Walmart US, said, “We are committed to exceeding customer expectations and serving them in new ways, whether it’s in a store, curbside, or at their home. Bringing the best of Alert’s technology and capabilities in-house will enable us to reach more customers quicker by deploying MFCs with greater speed, providing both an unmatched shopping experience and a competitive advantage in omnichannel fulfillment.” Alert Innovation will continue to operate under the Alert Innovation brand based in the Boston area.


Levine Leichtman Capital Partners Acquires AGDATA
Los Angeles – 4th October 2022 - Levine Leichtman Capital Partners (LLCP), a Los Angeles-based private equity firm, has announced that it has acquired AGDATA, a provider of mission-critical workflow and data solutions within the agribusiness and animal health sectors, from Vista Equity Partners. Financial terms of the transaction were not disclosed. Founded in 1985 and headquartered in Charlotte, North Carolina, AGDATA is a full-service, data-centric solutions provider. The Company’s data-driven solutions grant its customers greater supply chain visibility and tools to make informed inventory management, sales, and marketing decisions. AGDATA also provides turnkey rebate program management solutions for its customers. Heffy Provost, CEO of AGDATA, will continue to lead the company, together with the current management team. Josh Kaufman, Senior Managing Director at LLCP, said, “We are pleased to partner with Heffy and the AGDATA team to provide the highest-quality data and analytics to the agriculture and animal health sectors. AGDATA serves attractive end markets that benefit from macro tailwinds including population growth, a growing need for crop efficiency, and increased spending on food and pets. We are excited to capitalize on these favorable tailwinds to build on AGDATA’s market leadership position.”



Levine Leichtman Capital Partners Portfolio Company Prime Global Acquires earthware
London - 30th September 2022 - Prime Global Medical Communications Ltd, a portfolio company of Levine Leichtman Capital Partners (LLCP), has announced that it has acquired earthware, a digital and technology specialist agency that creates life-changing solutions to real-world healthcare problems. earthware is a digital healthcare agency that partners with healthcare companies to create innovative digital and technology solutions for healthcare practitioners and patients. As part of Prime Global, earthware will support the Company’s pharmaceutical and biotech clients at every step of the healthcare journey. CEO of Prime Global, Graeme Peterson, said: “Science, innovation, and technology are part of our DNA. We’ve been looking for the right strategic technology and digital partner to help us achieve our vision to transform patients’ lives, now and for future generations. We’re thrilled to have found that in earthware and I’m excited to see the extra value we will provide for our clients across all our services.” Financial terms of the transaction were not disclosed.


Calendly Acquires Prelude to Modernize the Recruitment Scheduling Experience
Atlanta – 27th September 2022 – Calendly, the modern scheduling platform for high-performing teams and individuals, has announced the acquisition of Prelude, a fast-growing recruiting operations platform designed to build an efficient and delightful hiring process. With this acquisition, recruiting teams and hiring leaders will optimize scheduling for interviewers and candidates, ultimately allowing the top SMB to enterprise companies to achieve their talent acquisition goals. The addition of Prelude means that Calendly can accelerate its ambition to deliver deeper solutions for enterprise teams and organizations, serving as the one-stop shop for external scheduling. “This acquisition is a testament to how Calendly’s profitable business model affords us the ability to pursue initiatives that will meet the growing demand of our customers,” said Tope Awotona, founder and CEO of Calendly.


Jamf Announces Intent to Acquire ZecOps
Minneapolis – 26th September 2022 – Jamf has announced it has signed a definitive agreement to acquire ZecOps, Inc. This acquisition uniquely positions Jamf to help IT and security teams strengthen their organization’s mobile security posture, accelerating mobile security investigations from weeks to minutes, leverage known indicators of compromise (IOC) at-scale, and identify sophisticated 0 or 1 click attacks on a much deeper scale. “I am very excited to bring ZecOps’ market-leading advanced mobile detection and response capabilities into the Jamf platform,” said Dean Hager, CEO, Jamf. “We believe ZecOps has built a differentiated solution that meets a very important need for many organizations - the ability to thoroughly detect and investigate threats that target mobile users so they can confidently use these powerful devices for work. This capability further propels our goal of continuing to bridge the gap between what Apple provides and the enterprise requires.”


IBM Acquires Dialexa to Speed Digital Innovation
Armonk, New York – 22nd September 2022 - IBM has announced plans to acquire Dialexa, a US digital product engineering services firm, to help companies drive innovation and achieve their digital growth agendas. The acquisition is expected to deepen IBM's product engineering expertise and provide end-to-end digital transformation services for clients. Dialexa will be the sixth acquisition IBM has made in 2022, further bolstering the company's hybrid cloud and AI skills and capabilities. Since Arvind Krishna became CEO in April 2020, IBM has acquired more than 25 companies. Thirteen of those acquisitions, including Dialexa, have been in IBM Consulting. This latest deal builds upon IBM Consulting's prior acquisitions, including Neudesic, Sentaca, Nordcloud and Taos. The acquisition of Dialexa will be IBM Consulting's first in the fast-growing digital product engineering services market, which is estimated to reach $700 billion by 20261. Upon close, Dialexa will join IBM Consulting, spearheading IBM's digital product engineering services presence in the Americas. "In this digital era, clients are looking for the right mix of high-quality products to build new revenue streams and improve topline growth," said John Granger, Senior Vice President, IBM Consulting. "Dialexa's product engineering expertise, combined with IBM's hybrid cloud and business transformation offerings, will help our clients turn concepts into differentiated product portfolios that accelerate growth."


CrowdStrike to Acquire Preempt Security for $96 Million
Austin, Texas – 23rd September 2022 - CrowdStrike will acquire Preempt Security with the intention of offering customers enhanced zero trust security capabilities. Under the terms of the agreement, CrowdStrike will pay approximately US$96 million to acquire Preempt Security, subject to adjustments. The acquisition is expected to close during CrowdStrike's fiscal third quarter, subject to customary closing conditions. Together, CrowdStrike and Preempt will provide a modern zero trust security architecture and threat protection to keep organisations users, endpoints, and data safe from modern attacks, without compromising productivity or the user experience, the companies state. Combining workload security with identity protection is key when establishing true zero trust environments, CrowdStrike states. With this acquisition, the company plans to offer customers enhanced zero trust security capabilities and strengthen the CrowdStrike Falcon platform with conditional access technology. The addition of Preempt's technology to the CrowdStrike Falcon platform will help customers achieve end-to-end visibility and enforcement on identity data.


CrowdStrike to Acquire Reposify
Austin, Texas - 22nd September 2022 - CrowdStrike is acquiring Reposify, a company which provides an external attack surface management (EASM) platform that scans the internet for exposed assets of an organization to detect and eliminate risk from vulnerable and unknown assets before attackers can exploit them. Michael Sentonas is CrowdStrike‘s CTO, commented: “This acquisition will provide CrowdStrike partners the benefit of a fundamentally differentiated EASM experience. As part of the Threat Intelligence product suite, CrowdStrike will now combine deep insights on endpoints and IT environments with internet scanning capabilities that provide an adversarial view of organizational risk across internal and external attack surfaces. Partners will benefit from the holistic view of customers’ environments and reduced risk exposure of external assets.” Attack surface management is a critical aspect of an organization’s security posture, Sentonas continued, “Through the acquisition of Reposify, partners will gain an unmatched outside-in perspective of entities’ global external risks, such as shadow IT, legacy systems and unknown infrastructure risks that expose their business. Combined with CrowdStrike’s industry-leading intelligence and ITSecOps offerings, this acquisition allows partners to be more proactive in how they manage customers’ security posture, making them more resilient to attacks.”


SandboxAQ Acquires Cryptosense to Accelerate Delivery of Security Solutions Globally
Paris and Palo Alto, California – 14th  September 2022- SandboxAQ, an enterprise SaaS company delivering the compound effects of AI and Quantum tech (AQ) to governments and the Global 1000, has announced it has acquired Cryptosense, a cybersecurity and encryption analysis software company.  SandboxAQ's acquisition comes just weeks after the company unveiled its Strategic Investment Program and initial investment in evolutionQ. The acquisition of Cryptosense complements and accelerates the deployment of SandboxAQ's Post-Quantum Cryptography (PQC) solutions to corporations and government institutions worldwide. SandboxAQ's cybersecurity products enable large enterprises to scale cryptography management across their IT infrastructure, providing CISOs with a single, 360° view of how encryption is used throughout the enterprise – a critical first step in migrating to PQC. This migration to stronger cybersecurity is important for critical infrastructure sectors such as financial services, technology, energy, biopharma, logistics, and government.


Western Union Acquires Digital Wallet Mobile App Creator Te Enviei
Brazil, Indiana, USA - 12th September 2022 – Denver - Following a successful introduction of its digital banking offering in Europe in February 2022, Western Union is gearing up to launch in Latin America. The Company announced the acquisition of Te Enviei, a Brazil-based digital wallet that will accelerate the time to market of Western Union’s financial ecosystem offerings in Brazil. As part of its renewed purpose-driven strategy, Western Union is expanding its value proposition to customers by offering a broader set of digital financial services. By introducing its digital wallet in Brazil, Western Union plans to enable its customers to store funds, send money overseas and domestically, and pay their bills; all from the convenience of their phones. Chief Innovation & Data Officer at Western Union, Thomas Mazzaferro, said: “We are changing the way we interact with our customers today, moving from a transactional business to a customer-centric, relationship-based approach. Offering our Brazilian customers an integrated digital banking and money transfer solution will be a key milestone in this effort. We believe this acquisition will allow us to significantly accelerate our planned technology build, allowing for the faster roll out of our digital wallet in Brazil.”


Dassault Systèmes Acquires Diota, Bringing Augmented Reality and Field Control Technology to Its Manufacturing and Operations Customers
Ile-de-France, France - 13th September 2022 - Dassault Systèmes has acquired Diota, developer of assembly assistance and quality control software solutions for manufacturing and operations.  The acquisition will expand Dassault Systèmes’ 3DEXPERIENCE platform with actionable virtual twin experiences on the shop floor, enabling customers in the aerospace and defence, industrial equipment and transportation and mobility industries to optimize the performance of complex industrial processes and boost their operational efficiency. Founded in 2009 in France, Diota provides software solutions for digital-assisted operations and digital-based robotics inspection that help industrial companies enter a new era of digital transformation.  Cutting-edge technologies such as interactive 3D, AR, computer vision, AI, and deep learning connect back office engineering and on-site operations in charge of production and maintenance of manufactured products for greater productivity, improved product quality and enhanced workforce guidance and safety. Dassault Systèmes will integrate Diota’s solutions into its DELMIA applications, which are used to collaboratively and virtually model, optimize, and execute manufacturing, supply chains, logistics, and services with new levels of intelligence and decision-making.


Amazon Increases Warehouse Robotics Tech with Acquisition of Cloostermans
Hamme, Belgium – 9th September 2022 - Amazon is acquiring specialist mechatronics company, Cloostermans, which has built technology for moving and stacking heavy pallets and totes as well as creating robotics for packaging products. Amazon has been a customer of Cloostermans’ since 2019 and is now acquiring the company to ramp up its R&D and deployment in the space. Frederik Berckmoes-Joos, CEO of Cloostermans, said in a blog post, published by Amazon: “We’re thrilled to be joining the Amazon family and extending the impact we can have at a global scale. Amazon has raised the bar for how supply chain technologies can benefit employees and customers, and we’re looking forward to being part of the next chapter of this innovation.” In its statement, Amazon said: “With the acquisition of Cloostermans, Amazon continues to invest in customized state-of-the-art technology to drive innovation in its workplace and improve the employee experience. Innovation is central to how we strive to be Earth’s Best Employer, and Amazon continues to invest in technology that helps make work at our operations safer, simpler, and more productive.”


Instacart Acquires e-Commerce Platform Rosie
San Francisco – 7th September 2022 - North American grocery technology company, Instacart, has announced it has acquired Rosie, the e-commerce platform for local and independent retailers and wholesalers. With this acquisition, Instacart is deepening its commitment to serving local and independent grocers and expanding its Instacart Platform e-commerce offerings. With the acquisition of Rosie, Instacart is introducing new e-commerce solutions built specifically for local and independent retailers that complement the company’s existing Instacart Platform offerings. Through the Instacart Platform, Instacart is further enabling grocers to chart their own digital transformation through a suite of enterprise-grade technologies. Chris Rogers, Chief Business Officer at Instacart, said: “Our focus is on creating technology solutions that are tailor-made to meet the online and in-store needs of all grocers – whether they’re national chains or independently-owned and operated. Local and independent grocers are so important to the grocery ecosystem. The Rosie team understands these grocers better than anyone, and that’s why we’re proud to welcome them to Instacart. Together, we’ll build more technologies that help independent grocers accelerate their pace of innovation so they can continue to compete, grow, and serve their customers however they choose to shop.”


Accenture Acquires Carbon Emissions and Climate Change Strategy Consultancy Carbon Intelligence
London – 1st September 2022 - Accenture has acquired Carbon Intelligence, a carbon and climate change strategy consultancy, adding more than 160 professionals to its rapidly growing group of data scientists, consultants and sustainability experts. Carbon Intelligence is focused on helping global businesses understand their overall carbon footprints, and ways to reduce them, using Science Based Targets Initiative (SBTi) strategies that lead to transformational rethinking of clients’ business models and value chains. Carbon Intelligence is Accenture’s fifth sustainability-focused acquisition this past year. Peter Lacy, Accenture’s global Sustainability Services lead and chief responsibility officer, said: “Carbon Intelligence expands our expertise in carbon strategy and delivery, building on the insights of our recently created global carbon intelligence network. We continue deepening our global capabilities in sustainability – one of the forces that companies must harness to lead in the next decade – in areas that are crucial for the energy transition.”


03 November 2022