Boss Insights - Tech M&A Round Up - 21st August 2020

Hyland acquires RPA software provider Another Monday
21st August 2020 - Content services provider, Hyland, announced its acquisition of Another Monday, a German-based robotic process automation (RPA) software developer. The addition of a feature-rich, end-to-end RPA software solution that is highly configurable extends Hyland’s process automation capabilities and strengthens its content services product portfolio. Commenting, President and CEO of Hyland, Bill Priemer, said: “Adding RPA to Hyland’s content services platform extends and augments our low-code process automation offerings, enabling a next level of digital transformation to all of our customers. We look forward to getting to know our Another Monday colleagues, welcoming our new customers and partners to the Hyland community and incorporating this powerful technology into our existing solutions.”

Hg Makes Further Majority Investment in Visma Valued at US$12.2 billion – World’s Largest Ever Software Buyout
London, UK and Oslo, Norway – 21st August 2020 - European software investor, Hg has announced that the Hg Saturn team and its investors have agreed to a further investment in Visma, a provider of business-critical software to private and public enterprises in the Nordic, Benelux and Baltic regions.  Hg will put forward the majority of the newly invested capital in a transaction valuing the business at an Enterprise Value of NOK 110 billion (US$12.2 billion), making this the largest ever software buyout globally. Visma is a true Software-as-a-Service (SaaS) champion and the largest provider of cloud-delivered SaaS to European businesses. This is the result of an early decision by Visma and Hg to invest in cloud and SaaS technology in 2008.  This early investment has given Visma a leading suite of SaaS products across a number of sectors.  Today Visma has over 11,000 employees, including 4,000 software developers who serve over one million business customers. The success in SaaS has resulted in uninterrupted, year-on-year, revenue and EBITDA growth over the last 15 years of (19% and 23% CAGR respectively).

AirBnB Finally Files for IPO
San Francisco, California - 19th August 2020 - Airbnb has announced it has filed for an initial public offering (IPO). According to a statement, the company hasn’t yet decided the number of shares that will be offered nor the price range for its IPO. Probably the most awaited IPO of 2020 – The company announced in 2019 that it planned to go public in 2020 - Airbnb, which was founded in 2008, has raised at least $5.4 billion in total funding. Airbnb was among the companies that felt the full effects of Covid-19, with the travel & hospitality industry coming to a standstill and in fact, made its own layoffs in May. After raising $1 billion in debt and equity from Silver Lake and Sixth Street Partners in April, it was valued at $18 billion, significantly down from its $31 billion valuation in 2017. When the company does go public, it will be amongst only a handful of US-based venture-backed companies with an initial post-public valuation of $10 billion or more since 2014.

American Express to Acquire Kabbage for a Reported $850 Million
New York – 17th August 2020 - American Express has announced that it has entered into an agreement to acquire substantially all of Kabbage, a financial technology company, which provides cash flow management solutions to small businesses in the US. The transaction represents an important step toward American Express’ goal of being an essential partner to small businesses through a broad range of payment, cash flow and financial management tools. Under the terms of the agreement, American Express will acquire Kabbage’s team and its full suite of financial technology products, data platform and IP built for small businesses. Anna Marrs, President of Global Commercial Services at American Express, said: “This acquisition accelerates our plans to offer U.S. small businesses an easy and efficient way to manage their payments and cash flow digitally in one place, which is more critical than ever in today’s environment. By bringing together Kabbage’s innovative technology and talented team with our broad distribution capabilities and over 60 years of experience backing small businesses, we can better help our customers successfully emerge from this challenging period and beyond.”

Lifesize Acquires Kaptivo to Fuel Next Generation of Advanced Collaboration
Austin, Texas - 20th August 2020 - Lifesize®, a global innovator of immersive enterprise communication solutions, has announced the acquisition of Kaptivo, a digital collaboration solutions company. With the addition of Kaptivo, Lifesize further expands its portfolio of cloud-based unified communications and collaboration (UCC) solutions for contact centers, video conferencing and meeting rooms with a new suite of advanced collaboration tools.  An industry pioneer in computer vision, image processing and artificial intelligence for visual collaboration, Kaptivo develops solutions that make remote brainstorming, education, planning and content creation more effective and productive. Kaptivo’s current products address an unmet need in remote meetings: Connecting the hundreds of millions of existing, traditional whiteboards to modern collaboration tools so that participants can brainstorm, teach, plan and draw as if everyone was in the same room.

Inpixon Acquires 'Blue Dot' Device Positioning Technology and Intellectual Property Assets, Expanding Inpixon Indoor Intelligence Platform
Palo Alto, California and Toronto – 20th August 2020 – Inpixon, an indoor data company that delivers Indoor Intelligence™ solutions, has announced it has acquired a suite of on-device “blue dot” indoor location and motion technologies, including patents, trademarks, software and related intellectual property (IP), from Ten Degrees, Inc., Ten Degrees International and certain other affiliated parties. Nadir Ali, CEO of Inpixon, noted, “These assets provide a best-in-class solution for device positioning and can operate without an active internet connection or other infrastructure such as Bluetooth or GPS. The addition of this technology within our suite of capabilities further enhances our indoor intelligence platform as one the most robust, in-house offerings available in the market to meet the full range of indoor intelligence needs."

Veriforce Acquires Canada’s Leading Compliance Management Provider, ComplyWorks
Houston – 18th August 2020 – Veriforce, the supply chain risk and compliance management industry’s fastest-growing solution provider, has announced its acquisition of Calgary, Alberta-based ComplyWorks, a Canadian compliance management solution provider. The combined company creates a global platform of technology and services, empowering 800 leading companies in 120 countries with over 50,000 contractors and millions of individual workers in a broad spectrum of risk mitigation practices designed to ensure safe, compliant business operations. Veriforce and ComplyWorks serve small, medium and large multinational clients in numerous industry sectors. Together, the combined company will provide premier third-party risk management solutions to leading edge global companies. Commenting, Cal Fairbanks, former President and CEO of ComplyWorks, who will now serve a strategic advisor to the combined company, said: “At a time when safety and risk management are top of mind for companies worldwide, we’re honored to join forces with Veriforce to provide the industry’s most comprehensive solution for managing risk.”

Absorb Software Acquires Koantic, a Cloud-Based Content Authoring Solution
Calgary, Alberta, Canada – 18th August 2020 - Absorb Software, provider of the Absorb Learning Management System (LMS) and Absorb Infuse, today announced the acquisition of Koantic, a cloud-based course authoring tool. The demand for engaging, interactive eLearning content that can be created quickly continues to grow. Unlike complicated desktop solutions from legacy vendors - or overly simplified cloud-based solutions - Koantic's unique combination of an intuitive, web-based interface and full-featured course authoring meets the needs and expectations of today's market. "The Koantic acquisition keeps Absorb moving forward on a path of strong growth and market expansion opportunities. It also reinforces our position as a truly all-in-one learning platform at a time when intuitive, powerful tools are a differentiator for businesses." said Mike Owens, founder and CEO of Absorb Software.

Apple Quietly Acquired Israeli AR Startup Camerai
Tel Aviv, Israel - 20th August 2020 - The AR and computer vision company was purchased a year and a half ago, an example of the tech giant’s strategy of silently buying up small tech companies. Apple is well known for its tradition of conducting secret acquisitions. A substantial number of the purchases it makes are only revealed after they are completed or are never revealed at all. In 2019, at a Berkshire Hathaway Conference, Apple CEO, Tim Cook, said that the company had acquired 25 companies that year and didn’t disclose most of them as most were small, so the tech giant didn’t bother reporting on their purchase. Apple has also stressed that acquisitions are always a second priority for the company, which prefers to invest in internal development projects. Such is the case of Israeli startup Camerai Ltd. People familiar with the deal told Calcalist on conditions of anonymity that the Israeli company was sold to Apple a year and a half ago for several tens of millions of dollars and was folded into Apple’s computer vision team.,7340,L-3845818,00.html

Sovos Gains New Investment From Hg Saturn and TA Associates
Wilmington, North Carolina - 20th August 2020 - Global tax software provider Sovos, has announced that Hg - a global software investor, partner and supporter of the expansion of Sovos for more than four years - will lead a further, majority investment in the company through the Hg Saturn 2 Fund. TA Associates, a global private equity firm with more than four decades of software investing experience, will also join as a significant minority investor to support the next wave of Sovos’ growth. Following this new investment, Sovos is poised to continue its geographic expansion, deepen its partner ecosystem, and respond rapidly to emerging tax and regulatory changes around the world.

Vocera Acquires EASE to Improve the Healthcare Experience for Patients and Families
San Jose, California – 19th August 2020 - Vocera Communications, Inc, a recognized leader in clinical communication and workflow solutions, has announced that it has acquired EASE Applications (EASE), based in Orlando, FL. EASE offers a cloud-based communication platform and mobile application built to improve the patient experience by enabling friends and family members to receive timely updates about the progress of their loved one in the hospital. The EASE app enables nurses and other care team members to send HIPAA-compliant texts, photos, and video updates to patients’ loved ones, putting them at ease and saving valuable time. “Now, more than ever, meaningful human connections are needed in healthcare,” said Patrick de la Roza, chief executive officer of EASE. “When a person undergoes surgery or is hospitalized for an infection or other illness, the patient and their loved ones often feel fear, anxiety and isolation. EASE helps reduce these burdens by providing needed connectivity and transparency, while allowing care teams to deliver the best care.”

Change Healthcare Acquires
Nashville, Tennessee – 18th August 2020 - Change Healthcare has announced the acquisition of, a leader in the development of advanced, fully enabled, cloud-native imaging and workflow technology.’s state-of-the-art, cloud-native imaging technology, including a zero-footprint diagnostic viewer with patented streaming technology, workflow and image sharing solutions, completes Change Healthcare’s next-generation medical imaging platform. The acquisition supports Change Healthcare’s commitment to focus on and invest in core aspects of the business to fuel long-term growth and advance innovation. This will accelerate Change Healthcare’s timeline to implement a complete cloud-based, end-to-end Enterprise Imaging solution with customers. expands Change Healthcare’s addressable market by leveraging the over 7,500 organizations currently serves.

HomeLight Acquires; Will Launch Listing Management Services
San Francisco - 18th August 2020 - Homebuying and selling platform, HomeLight, has acquired listings manager to launch a new offering called HomeLight Listing Management. Terms of the deal were not disclosed. According to Crunchbase data, since its inception in 2017, San Francisco-based has raised about $120,000. This is HomeLight’s second acquisition as they also acquired mortgage origination and underwriting company Eave, in July 2019. The company was founded in 2012 and has raised some $164.5 million in funding from investors who include Zeev Ventures ($109 million round of debt and equity financing in 2019). Since its inception, HomeLight has developed a number of end-to-end homebuying and selling technology offerings. Founder and CEO of HomeLight, Drew Uher, told Crunchbase News, is a popular platform in Northern California, used by 90 percent of the homebuying and selling transactions.

Endava Announces the Acquisition of Comtrade Digital Services

London, UK – 17th August 2020 - Endava plc has announced the acquisition of the Comtrade Digital Services business (CDS). CDS was formerly a division of Comtrade Group B.V.. With its HQ in Dublin, Ireland and delivery centres across the Adriatic, CDS is a provider of strategic software engineering services and solutions and serves clients predominantly in the European Union but also elsewhere in Europe and in the US. With this acquisition, Endava reinforces its presence in South Eastern Europe with more teams who reimagine the relationship between people and technology. John Cotterell, Endava’s CEO, commented, “I am very pleased to bring CDS into the Endava family. Their engineering skills, approach to digital transformation and innovative culture are well aligned with Endava’s. We will also have enhanced credentials, capabilities and breadth of next-gen technology skills to better serve our clients.” He added: “Together we will have a market leading presence in the Adriatic region, aligned with our strategy of being the “Employer of Choice” for the best engineers in each of Endava’s delivery locations.”

Mirantis has Acquired Lens, IDE for Kubernetes
Campbell, California  - 13th August - Mirantis, the company that recently bought Docker’s enterprise business, has announced that it has acquired Lens, a desktop application that the team describes as a Kubernetes-integrated development environment. Mirantis had previously acquired the team behind the Finnish start up, Kontena, the company that originally developed Lens. More recently, Lens was owned by Lakend Labs, which describes itself as “a collective of cloud native computer geeks and technologists, committed to preserving and making available the open-source software and products of Kontena.” Lakend open-sourced Lens a few months ago. In a blog announcing the deal and discussing Lens’ attributes for software developers, Nick Chase for Mirantis, said: “We’re hugely excited to be part of the Lens movement. Lens is quickly becoming a Big Deal (TM). Available on Github under the MIT license, Lens has seen blistering widespread adoption since its launch as an open source project this March. With a growing community of 40,000+ users and 7,300+ stargazers on GitHub, it is one of the top trending open source projects in the cloud-native ecosystem. (According to publicly available data, some of the largest companies in the world are using Lens to accelerate their Kubernetes efforts at scale, including Apple, Rakuten, Zendesk, TIM, and Adobe.)

Tech Consulting Firm, Improving, Advances Strategic Growth with Acquisition of Object Partners
Plano, Texas – 13th August 2020 - Improving has acquired Object Partners, a custom software development firm headquartered in Minneapolis, Minnesota, with a secondary office in Omaha, Nebraska. The Object Partners team will be joining forces with Improving to grow the technology service capabilities to better serve the Twin Cities region. The transaction is expected to increase Improving's annualized revenue by more than 25% in 2020, resulting in a collective annualized revenue exceeding $150 million, and will further expand its geographic reach within the Midwest regions of the United States. This follows Improving’s innovative business growth strategy, which focuses on merging technology service companies that share a commitment to building trust, delivering excellence and cultivating culture. The Object Partners leadership team will remain intact and continue to operate and grow the business, while enjoying access to the full range of services of Improving’s collective offerings.

CACI Acquires Ascent Vision Technologies
Arlington, Vancouver – 12th August 2020 - CACI International Inc has announced it has acquired Ascent Vision Technologies, LLC (AVT), a provider of technology and solutions that support multi-domain intelligence, surveillance and reconnaissance (ISR), unmanned aircraft system (UAS), air defense and counter-unmanned aircraft system (c-UAS) operations. AVT provides low size, weight, power and cost (SWAP-C) electro-optical, infrared (EO/IR) imaging systems designed for airborne, ground, and maritime platforms, delivering effective ISR and target acquisition capabilities for day and night operations. According to John Mengucci, CACI President and Chief Executive Officer, “The combination of CACI and AVT brings unique advantages to our defense and national security customers with critical ISR and c-UAS missions. Their accomplished leadership team, led by founder and CEO Tim Sheehy, and highly skilled technical employee population drives a unique culture of agile innovation and differentiated performance. The synergies between AVT and CACI’s offerings establish unapparelled technologies and capabilities in this growing area of ISR and c-UAS within CACI’s business. We welcome the talented and mission-focused AVT employees to CACI.”

21 August 2020
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