Boss Insights - Tech M&A Round Up - 20th September 2019

Thoma Bravo divests Elemica to Eurazeo
Wayne, PA and Paris, France – 19th September 2019 – Elemica, a cloud-based Digital Supply Network for the global process Industries, has announced that its acquisition by global investment company, Eurazeo, has been successfully concluded.  Headquartered in France, Eurazeo has offices in New York, Paris, Sao Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt and Madrid. Rich Katz, President of Elemica, said: “This new partnership with Eurazeo will help accelerate our move into new adjacent market segments and support our continued development of innovative digital transformation solutions such as Blockchain, AI, and the Industrial Internet of Things. The commitment to our solutions enables our clients to achieve the interoperability and the visibility they need inside and outside of the four walls of their enterprise, helping them automate and integrate business processes, reduce risk, and thereby improve their profitability.” Eurazeo Capital, Managing Director, Eric Schaefer, commented that he expected Elemica “to accelerate its development across new industries, geographies and product offerings.”

Avnet to Acquire Witekio, Enhancing End-to-End IoT Strategy with Deep Embedded Software Expertise
Phoenix – 17th September 2019m - Global technology solutions provider Avnet has signed an agreement to acquire Witekio (formerly known as Adeneo Embedded). Witekio is a privately held company with expertise in software and embedded systems that helps developers overcome the technical challenges and complexity of developing Internet of Things (IoT) solutions. The announcement furthers Avnet’s end-to-end IoT strategy by adding more capabilities and expertise in embedded software, edge computing and security, specifically from hardware to the cloud. This acquisition also underscores Avnet’s commitment to helping companies reduce the time, cost and complexities of successfully bringing IoT products to market. The addition of Witekio to the Avnet ecosystem follows the company’s acquisition of Softweb Solutions, another software company, in December 2018. Witekio develops software for every layer from devices to the cloud, and Softweb develops cloud-based software to connect, manage and analyze data. Witekio’s user-centric technology includes connected hardware, device architectures and applications that complement Softweb’s offerings.

Flex Technology Group Makes Strategic Investment in Laser Technologies Service
Phoenix – 18th September 2019 - ​Flex Technology Group and Oval Partners have announced a new partnership with Laser Technologies Service, an office technology provider based in Concord, Massachusetts. Founded in 1999 by John Toomy and Claudel Jeannot, Laser Technologies has become a primary service provider for businesses based in the Greater Boston area. The company has earned recognition as an HP Gold Imaging and Printing Partner by establishing expertise in managing large corporate printer fleets. Laser Technologies provides leading-edge office technology like copiers, printers, and document management software. John Toomy, President of Laser Technologies, said: "Our partnership with Flex Technology Group allows us to accelerate our growth initiatives and increase opportunities for our employees. Flex Technology Group has the experience and expertise to accelerate our business rapidly and Flo-Tech offers us additional capacity to expand nationally." Laser Technologies will continue to operate independently of Flo-Tech while leveraging the resources of the combined group.

Oval Partners Makes Strategic Investment in Millennium Business Systems
Phoenix – 13th September 2019 – Flex Technology Group and Oval Partners, have announced a new partnership with Millennium Business Systems, a provider of office technology, based in Cincinnati, Ohio. The company services the needs of the Greater Cincinnati, Northern Kentucky, Dayton Ohio, and Southeast Indiana business communities with copiers, printers, multi-functional technology and document management hardware and software. Frank Gaspari, CEO of Flex Technology Group, said:  “Over the last 19 years, David and his team have built a highly respected company with a great culture and loyal customers. This partnership further fuels our goals of adding quality companies to our platform while becoming the largest office technology provider in the nation. MBS strengthens our presence in the Midwest as we continue to execute on our national growth strategy.”

Hyland Partners with Blue Prism to Offer Robotic Process Automation Solution
Cleveland – 17th September 2019 – Hyland is partnering with Blue Prism, to sell Blue Prism’s intelligent and connected Digital Workforce Platform. Blue Prism provides the flexible tools, digital solutions and business automation to complement and further automate existing Hyland solutions, and is a Leader in the Gartner Magic Quadrant for Robotic Process Automation Software. (RPA) John Phelan, Executive Vice President and Chief Product Officer at Hyland, said: “RPA is a strategic priority for Hyland, and we view it as an excellent complement to our platform and rich portfolio of automation and integration tools. True process automation requires a platform that can bring to bear a suite of automation capabilities to meet our customers’ business challenges, which is why adding a partner like Blue Prism helps us create that ideal mix..”

Wipro and Industrie 4.0 Sign Strategic Partnership
East Brunswick, New Jersey, USA and Bangalore, India – 16th September 2019 - Wipro Limited, a global information technology, consulting and business process services company, has announced its strategic partnership with i4.0MC – Industrie 4.0 Maturity Center GmbH (I4.0MC), Germany, to drive digital transformation in manufacturing companies. I4.0MC is based at Aachen, Germany, and is an integral part of the world-renowned RWTH Aachen Campus. I4.0MC applies the acatech Industrie 4.0 Maturity Index to help manufacturing companies determine what stage of the Industrie 4.0 programs they are at. This evaluation helps companies prioritize, align and control digitization activities across the entire organization. This partnership will promote collaboration between academia and industry thought leaders across manufacturing industries such as Automotive, Consumer Goods, Industrial Manufacturing, Oil and Gas and Life Sciences. Wipro’s experienced team of consultants, aligned to the core manufacturing industries, will support their clients through their end-to-end I4.0MC-led transformation journey.

Coremedia Partners with Translations.Com to Reduce Time-To-Market for Content Publishing
Hamburg, Germany & Arlington, Virginia – 11th September 2019 – CoreMedia, global provider of content management platform CoreMedia Content Cloud, has announced a strategic partnership based on its certified integration with's GlobalLink Connect, the world’s friendliest integration tool for multilingual content. GlobalLink Connect provides an all-in-one solution to initiate, automate, control, track and complete all facets of the translation process. The unique combination of CoreMedia Content Cloud and the extended localization workflow capabilities of GlobalLink Connect provide users with a comprehensive solution for managing global enterprise content with minimal effort and virtually no IT overhead. Soeren Stamer, CEO and Co-Founder of CoreMedia, said: “We think that the integration of CoreMedia Content Cloud with's GlobalLink Connect is a game changer for brands looking to expand their global reach. They can now significantly increase the efficiency of their translation and publication workflows across multiple sites, channels, regions and languages to improve the consistency, relevance, and impact of their digital brand experiences.”

Ericsson Acquires Niche AI Workforce for India Centre
15th September 2019 - Ericsson has reportedly acquired workforce of Niche AI for its Bengaluru-based artificial intelligence centre and is looking for more buyouts to build a team of 150 high-tech engineers for India operations this year. NicheAI is an early stage Artificial Intelligence (AI) start-up that designs accurate and computationally light algorithms to solve computer vision problems. Ericsson started its India wing of Global Artificial Intelligence Accelerator (GAIA) last year to develop open-source solutions to modernise telecom network, using AI and machine learning. Ericsson has plans to have a team of around 300 highly qualified engineers in GAIA by end of 2019 of which half are expected to be located in India.

ASG Announces Acquisition of Transcendent, Industry Leading Operations Management Software
Oldsmar, Florida & Walnut Creek, California – 12th September 2019 - ASG, a fast-growing software business that buys, builds, and operates vertical SaaS companies, has announced the acquisition of Transcendent, an operations management software business that helps companies track assets, improve workflow, and increase return on investment. This deal marks the 14th acquisition made by ASG over the past 18 months. “The enterprise operations management space has historically been defined by large software providers serving asset heavy industries such as manufacturing,” said Jake Brodsky, Co-Founder and Head of Corporate Development at ASG. “We are seeing an emerging demand for agile software that can serve a variety of industries. Transcendent is a strong business, perfectly positioned to serve industries that require a unique software to manage their asset operations. We’re excited to explore this new space for ASG and accelerate the growth of Transcendent with our deep experience in vertical SaaS.”

McDonald’s to Acquire Early Stage Leader in Voice Technology, Apprente
Chicago, Illinois – 10th September 2019 – McDonald’s Corporation has announced an agreement to acquire Apprente, an early stage leader in voice-based, conversational technology. The agreement further strengthens McDonald’s technology capabilities. Apprente was founded in 2017 in Mountain View, California, to create voice-based platforms for complex, multilingual, multi-accent and multi-item conversational ordering. In McDonald’s restaurants, this technology is expected to allow for faster, simpler and more accurate order taking at the Drive Thru with future potential to incorporate into mobile ordering and kiosks. “Building our technology infrastructure and digital capabilities are fundamental to our Velocity Growth Plan and enable us to meet rising expectations from our customers, while making it simpler and even more enjoyable for crew members to serve guests" said Steve Easterbrook, President and Chief Executive Officer, McDonald’s Corporation. “Apprente’s gifted team, and the technology they have developed, will form McD Tech Labs, a new group integrated in our Global Technology team that will take our culture of innovation one step further.”

20 September 2019