Boss Insights - Tech M&A Round Up - 12th June 2020

GitLab Acquires Peach Tech and Fuzzit to Expand its DevSecOps Offering
San Francisco, California – 11th June 2020 - GitLab, the single application for the DevOps lifecycle, has announced it has acquired Peach Tech, a security software firm, specializing in protocol fuzz testing and dynamic application security testing (DAST) API testing, and Fuzzit, a continuous fuzz testing solution providing coverage-guided testing. These acquisitions will add fully-mature testing solutions including protocol fuzzing, API fuzzing, DAST API testing, and coverage-guided fuzz testing. This makes GitLab’s DevSecOps offering the first security solution to offer both coverage-guided and behavioral fuzz testing techniques as well as the first true DevSecOps platform to shift fuzz testing left with these new offerings being made available within the GitLab CI/CD environment. Sid Sijbrandij, CEO of GitLab, said: “We believe GitLab provides best-in-class tools for the complete DevOps lifecycle on a single platform. Bringing the fuzzing technologies of Peach Tech and Fuzzit into GitLab’s security solutions will give our users an even more robust and thorough application security testing experience while enabling them to shift security left. This simultaneously simplifies their workflows and creates collaboration between development, security, and operations teams.”

DataRobot Acquires Boston Consulting Group’s SOURCE AI Technology to Deliver End-to-End Solutions for AI Deployments
Boston – 9th June 2020 - Boston Consulting Group (BCG) and DataRobot today announced that DataRobot has acquired BCG’s SOURCE AI technology and that both organizations have entered into a strategic partnership. This relationship between a global consulting firm and an artificial intelligence (AI) solution provider is an industry first that combines proprietary IP with leading consulting services, thus providing both the human expertise and the technical know-how needed to deliver optimal, continuous value from AI. Commenting on the deal, Sylvain Duranton, a BCG managing director and senior partner and the global leader of BCG GAMMA, BCG’s data science division, said: “In today’s world, AI is a critical and strategic business opportunity. Companies that remain resilient and competitive must have the ability to successfully build and manage machine learning models. BCG is thrilled to partner with DataRobot given our shared vision for making AI a reality for more organizations.”

FirstLight Fiber to Acquire TruePath Technologies
Albany, New York - 9th June 2020 - FirstLight, a provider of fiber-optic data, Internet, data center, cloud and voice services to enterprise and carrier customers throughout the Northeast, has announced that it has signed a definitive agreement to acquire TruePath Technologies. TruePath offers a secure, dedicated, cloud-based solution that is a fully managed monitoring software system that configures and maintains its client’s monitoring software remotely whether it is Open Source or enterprise grade software.  This transaction will enhance FirstLight’s Managed Services portfolio by adding a proven team with expertise in deploying and supporting Monitoring Solutions. Kurt Van Wagenen, President and CEO of FirstLight, said: “FirstLight has leveraged the capabilities of TruePath to provide its monitoring services to clients for many years. It is through this relationship that we have come to know and appreciate their expertise in this important growth area. Unlike our recent acquisitions which focused on purchasing existing fiber assets, this transaction enhances our Managed Services portfolio and will speed the introduction of new services, such as our recently launched Network Monitoring service as well as the continued enhancement of our existing Enterprise Monitoring solution.”

MRI Software completes acquisition of Castleton Technology Plc to expand social housing offering in the UK and beyond
London – 8th June, 2020 – MRI Software, a real estate software solutions company, has completed its acquisition of Castleton Technology Plc, a provider of specialist software and services for the social housing sector, after receiving shareholder approval. MRI’s acquisition of Castleton, along with that of Orchard Information Systems in March, extends its offering in the social housing market in the UK, Ireland, and Australia. The combination boosts MRI’s ability to empower social housing providers to adopt digital innovations and customer-centric technologies, while accelerating the development of cloud-based solutions for the sector. “The acquisition of Castleton is an important step in our drive to deliver greater scale and broaden our offering in the UK housing sector,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “The combination of Castleton and Orchard also extends our comprehensive residential market proposition, MRI Living, and brings together invaluable industry experience and expertise to drive further innovation and accelerate the delivery of new advancements to social/affordable housing operators and residential property managers in multiple regions across the globe.”

ReNew Power acquires AI & machine learning start up Climate Connect 
Gurugram, Haryana, India – 4th June 2020 -- ReNew Power, India’s largest renewable energy company, today announced that it has signed definitive agreement to acquire Regent Climate Connect Knowledge Solutions Private Limited ("Climate Connect"); a digital - analytics, software development, artificial intelligence (AI), and machine learning (ML) company, specialising in the power markets domain in India. ReNew’s acquisition of Climate Connect, is expected to not only add to its digital capabilities but also allow it to offer a suite of digital product offerings to customers across the energy value chain. Speaking on the acquisition, Sumant Sinha, CMD of ReNew Power said: "I am thrilled to welcome Climate Connect into our fold to make India's power markets more efficient through next-generation artificial intelligence and machine learning enabled technologies.”

VMware To Acquire Lastline, Marking Thomvest Ventures’ Second Exit In A Week’s Time
Palo Alto, California – 4th June 2020 - Provider of compute, cloud, mobility, networking and security solutions, VMWare, is to acquire Lastline, a San Mateo, California-based provider of anti-malware research and AI-powered network detection and response solutions. Upon close, Lastline will bring threat research from a renowned group of academic cybersecurity researchers. It will enable VMware to further increase the capabilities provided by the VMware Carbon Black Threat Analysis Unit (TAU) with network-centric threat research and behavioral analysis. VMware will add new tools to make security intrinsic across highly distributed, multi-cloud environments connected by a virtual cloud network, enabling any app on any cloud on any device. Terms of the deal were not disclosed.

Google Cloud and Telefónica Partner to Accelerate Digital Transformation for Spanish Businesses
Madrid, Spain, & Sunnyvale, CA – 11th June 2020 - To meet the growing technology needs of Spanish businesses, Google Cloud and Telefónica are announcing a new partnership to foster the country's digital transformation and advance 5G mobile edge computing. As part of this agreement Google Cloud today announces its plans to open a new cloud region in Spain that will leverage Telefonica's Madrid region infrastructure. The acceleration of Spain’s digital transformation and the proliferation of 5G technologies for consumers and businesses alike are key growth engines for the economy. Spain needs enterprises and public organizations of all sizes to be ready to embrace present and future digital challenges and to do so, these businesses need an agile, scalable, secure and resilient telecommunications infrastructure. This strong technology backbone will allow easy access to new innovations that will accelerate business development, complete with investments in technological solutions.

Wipro Partners with and Invests in CloudKnox Security to Secure Multi-Cloud and Hybrid Cloud Infrastructure
11th June 2020 - Wipro Limited, a global information technology, consulting and business process services company, has announced a partnership with CloudKnox Security. The Wipro and CloudKnox joint solution offering enables enterprises to proactively protect and manage their Hybrid and Multi-Cloud infrastructure by continuously detecting and remediating over-permissioned identities. Wipro Ventures, the corporate investment arm of Wipro, invested in CloudKnox through its recently announced $150M Fund II, to strengthen the strategic partnership. Rapid adoption of Hybrid and Multi-Cloud infrastructure by enterprises is leading to an increase in the attack surface area, and as a result, exposing them to new cybersecurity vulnerabilities.  With the proliferation of Hybrid and Multi-Cloud workloads and identities (be it humans, service accounts, bots or resources), the problem of managing authorizations and entitlements related to permissions for identities is becoming more complex and critical.

12 June 2020