Boss Insights - Tech M&A Round Up - 14th February 2020

Titan acquires Hyderabad wearables startup HUG Innovations
Hyderabad  - 12th February 2020 - Titan has acquired wearables and technology company, HUG Innovations. The amount at which Titan bought HUG is unknown. This was done in order to establish their superiority in the watch business for the digital space. Titan had earlier stated that they had plans for launching a smartwatch this quarter year. The Hyderabad Development Centre will be formed by the HUG team. This team is aimed at assisting with the correct expertise in cloud technology, hardware, and software. This acquisition has given Titan complete access to their consumer platforms and IPs. S Ravi Kant, CEO of the watches and variables business stated that the establishment of the Hyderabad Development Centre had strengthened their journey in the wearables business. This journey has been embarking on the path in which India is the 3rd largest wearables producing country and Titan is the second-largest wearable producing company in India.  

Kiandra IT sells its Technology Services and Security Solutions Divisions
Melbourne, Australia - 12th February 2020 - Kiandra IT becomes dedicated software development company with the sale of its Technology Services and Security Solutions divisions to Nexon Asia Pacific (Nexon). For over 24 years, Kiandra has maintained a strong reputation for providing innovative software development and dependable managed and security services to mid-market, enterprise and government clients. The sale sees Nexon acquire the Managed Services and Security Solutions divisions of Kiandra IT and enables the new-look Kiandra to focus on its growing Software Development division. Managing Director, Cameron Brookes, believes the transaction is a win-win for all parties: “It’s an exciting time for Kiandra and becoming a fully-focused Software Development company will help us address the growing demand for low-code and other rapid development technologies, particularly in helping our clients modernise legacy applications and migrate their applications to the cloud.

SOSi Acquires Data Analytics Software Company in Europe
Reston, Vancouver – 11th February 2020 – SOS International LLC (SOSi) has announced its acquisition of Danish-based, advanced analytics software company, NorthStar Systems. This is the fifth acquisition SOSi has made since 2016, following New World Solutions, Defense Group, Inc., STG Group Holdings, Inc., and Vykin Corporation. “We’re continuing to expand our strategic position by acquiring unique and differentiating technologies where we see the potential for growth,” said Julian Setian, SOSi President & CEO. “We’re on the leading edge of developing human language and communication technology applications in the U.S. Government market, including artificial intelligence, neural network-based machine translation, and automatic speech recognition.” SOSi has built a data analytics platform that uses multiple protocols to navigate, identify, index and visualize unique communication data sets built to support key mission areas. SOSi has also developed a proprietary cloud-based artificial intelligence platform that uses deep learning algorithms.

Infosys to Acquire Salesforce Consulting and Platinum Partner, Simplus, in $250 Million Deal
Bengaluru, India and Salt Lake City, US – 10th February 2020 - Infosys, a global player in next-generation digital services and consulting, has announced a definitive agreement to acquire Simplus, one of the fastest growing Salesforce Platinum Partners in the USA and Australia. Simplus is a recognized leader and advisor in cloud consulting, implementation, data integration, change management and training services for Salesforce Quote-to-Cash applications. This acquisition, coupled with the acquisition of Fluido announced in September 2018, further elevates Infosys’ position as an end-to-end Salesforce enterprise cloud solutions and services provider, offering clients unparalleled capabilities for cloud-first digital transformation. Simplus brings to Infosys globally recognized Salesforce expertise, industry knowledge, solution assets, deep ecosystem relationships and a broad clientele, across a variety of industries including high-tech, financial services, retail, healthcare, life sciences and manufacturing. It has offices across North America, Sydney, Melbourne, London, and a large delivery center in Manila.

OnShift, Inc. Acquires Talent Acquisition Software Provider Avesta Systems, Inc.
Cleveland, OH – 10th February 2020 - In the continued expansion of OnShift’s next-generation human capital management platform, the company has announced it has acquired Avesta Systems, Inc., a provider of comprehensive talent acquisition software and services that streamline recruiting and hiring processes. Together, OnShift and Avesta provide a powerful suite of solutions to address some of the most critical workforce challenges in the healthcare industry. With the combined solution, healthcare providers will have the unmatched ability to hire, engage and retain quality employees, while achieving dramatically reduced turnover rates, decreased costs and enhanced quality and continuity of care. With the Avesta acquisition, OnShift further expands its footprint in the healthcare marketplace, by now also serving organizations in the emergency medical services (EMS) segment. Avesta’s established brand, expansive customer base and recognition as a thought leader in the EMS market complement OnShift’s exclusive focus on the healthcare industry.

Flex Technology Group Makes Strategic Investment in Ultrex Business Solutions to Expand Market Share in California
Phoenix, Arizona - 10th February 2020 - Flex Technology Group and Oval Partners, a San Francisco-based, multi-family office private equity firm, have announced a new partnership with Ultrex Business Solutions, a premier technology solutions company with extensive expertise in managed print, IT services, and information management. Ultrex Business Solutions has provided California with office technology solutions for well over three decades. With locations in Bakersfield, San Luis Obispo, Santa Barbara, and Ventura, Ultrex services a wide range of organizations across the region. From small to medium-size companies to large enterprises and government institutions, their team of technology experts can help any organization optimize their business processes through the latest hardware and software solutions. Frank Gaspari, CEO of FlexPrint LLC, said: “We are pleased to announce that Ultrex Business Solutions is now part of the Flex Technology Group family of companies as we continue to aggressively expand our market share. Rolf Berkefeld has developed a great team at Ultrex and we’re enthusiastic for the opportunity to build upon their already successful business model.”

Upland Software Acquires Localytics, Raises Guidance
Austin, Texas – 7th February 2020 - Upland Software, Inc. a cloud-based, enterprise work management software company, has acquired Localytics, provider of mobile app personalization and analytics solutions. With Localytics, Upland’s Customer Experience Management (CXM) Cloud sets the bar for rich mobile experiences, personalization, and real-time sentiment analysis across every digital channel, including text, mobile app, browser, wallet, voice, and email. The acquisition adds approximately $20 million in annualized revenues and will be immediately accretive to Upland's Adjusted EBITDA per share. “It is now vital for brands to deliver seamless, highly-personalized, mobile-focused experiences at key customer touchpoints. The addition of Localytics to our CXM Cloud offering now allows us to offer sophisticated mobile personalization at scale,” said Jack McDonald, chairman and CEO of Upland Software. “Our acquisition pipeline remains robust, and we are actively pursuing additional opportunities to build out our cloud offerings.”

Hyland acquires blockchain-credentialing provider Learning Machine
Westlake, Ohio - 5th February 2020 - Content services provider, Hyland, has announced its acquisition of Learning Machine, an innovator in blockchain-anchored digital credentialing solutions. The acquisition was effective February 1, 2020. Learning Machine is a pioneer in leveraging blockchain technology to authenticate documents and content. Its credentialing solution facilitates the creation and sharing of blockchain-secured digital records that are recipient owned, vendor independent and verifiable anywhere. The Learning Machine Issuing System allows any organization to easily design their records, import recipient data, issue records and manage the entire credentialing lifecycle. The system allows governments, companies and educational institutions to issue blockchain records at scale, rooted in any blockchain they choose. President and CEO of Hyland, Bill Priemer, said: “This acquisition is a major step toward our goal of revolutionizing the way organizations electronically exchange trusted records. The addition of Learning Machine’s digital credentialing solutions to Hyland’s content services platform will enable our customers to generate and manage digital documents that are both easily shareable and instantly verifiable.”

14 February 2020