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

Boss Insights - Weekly M&A News Round Up – 21st February 2020

Google Cloud acquires Cornerstone Technology to help you migrate your mainframe
20th February 2020 - Google Cloud CEO, Thomas Kurian, prolongs his buying spree with the acquisition of another company - Cornerstone Technology. This time he’s targeting mainframe customers, with the new acquisition helping migrate customers’ mainframe workloads to Google Cloud. This latest acquisition comes at the end of Kurian’s first year at the helm of Google Cloud. During that year, he’s persuaded Google parent company, Alphabet, to go on an acquisition and hiring spree that has been widely touted as an attempt to catch up with cloud leaders, Amazon and Microsoft. In a blog announcing the acquisition, Howard Weale, Director, Transformation Practcie, said: “For decades, companies have relied on a mainframe architecture to run their mission-critical workloads, but it often holds developers back from taking advantage of new technologies that enable them to innovate more quickly. Cloud computing presents the opportunity to modernize your applications and your infrastructure, resulting in better capabilities and allocation of resources so your organization can focus on your core business.”

Great Hill Partners Buys Majority of Software Company One Inc
Folsom, CA & Boston, MA - 20th February 2020 - Great Hill Partners has acquired a majority of One Inc, an insurance payments provider, via a recapitalization. Financial terms of the deal weren’t announced but Centana Growth Partners and AXA Venture Partners are exiting their stakes, people familiar with the transaction said. One Inc, a digital payments platform provider for the insurance industry, has announced that the company has been acquired by Great Hill Partners, a growth-oriented private equity firm. The acquisition includes a primary investment enabling One Inc to significantly expand engineering, sales and marketing resources. Financial terms of the transaction were not disclosed. Growing at an average rate of 77% year-over-year and processing over $10 billion in transactions for the 100+ customers using the company’s platform, One Inc has experienced rapid growth over the last few years. The One Inc Digital Payments Platform combines inbound and outbound payment capabilities with industry-specific reporting and reconciliation, along with a host of digital communication methods. The entire platform was developed to allow insurance operators to maintain a frictionless payments experience with policyholders, vendors, agents and service providers.

Nokia to acquire Elenion to improve economics of advanced optical connectivity solutions
Espoo, Finland – 19th February 2020 - Nokia has announced plans to acquire Elenion Technologies, a US-based company, focused on silicon photonics technology. Elenion’s technology expertise and unique design platform and services enable Nokia to expand its market footprint by addressing the critical and rapidly evolving optical connectivity requirements of 5G, cloud and enterprise networking. Ownership of these key assets brings time-to-market and cost advantages to Nokia’s broad portfolio of networking solutions by applying the massive scale and economies of silicon design and manufacturing to the optical supply chain. Sam Bucci, Head of Optical Networking at Nokia, said: “As a world-class provider of silicon photonics solutions, advanced packaging and custom design services, Elenion provides a strong strategic fit for Nokia. Its solutions can be readily integrated into Nokia’s product offerings and address multiple high growth segments including 5G, cloud and data center networking. When combined with Nokia, Elenion technologies will accelerate the growth and scale of Nokia’s optical networking business, while enabling us to cost-effectively address new markets.”

Rockwell Automation to Broaden Connected Enterprise Consulting Expertise with Acquisition of Kalypso
Milwaukee - 19th February 2020 - Rockwell Automation, Inc. has announced that it has signed an agreement to acquire privately-held Kalypso, LP, a US-based software delivery and consulting firm specializing in the digital transformation of industrial companies with a strong client base in life sciences, consumer products and industrial high-tech. Kalypso offers a full suite of consulting, digital innovation, enterprise technology and business process management services that enable the transformation of product design and development, production management, and client service models. Frank Kulaszewicz, Senior Vice President, Control Products & Solutions at Rockwell Automation, said: “Kalypso’s deep roster of experienced consultants and technologists, expertise across the digital value chain and established customer base in key growth sectors will enable us to further accelerate our customers’ Connected Enterprise journey and support Rockwell Automation’s strategic objective of continued double-digit growth in Information Solutions and Connected Services.”

Rockwell Automation Strengthens Control & Visualization Portfolio with Acquisition of ASEM
Milwaukee - 19th February 2020 - Rockwell Automation, Inc. has also announced it has signed an agreement to acquire Italy-based ASEM, S.p.A., a provider of digital automation technologies. ASEM provides a complete range of Industrial PCs (IPCs), Human-Machine Interface (HMI) hardware and software, remote access capabilities, and secure Industrial IoT gateway solutions. ASEM’s high-performance automation solutions enable The Connected Enterprise with smarter technology, enhanced productivity, and a more secure environment by integrating smart devices, the control platform, and design and operational software all on a single network. Commenting, Fran Wlodarczyk, Senior Vice President, Architecture & Software at Rockwell Automation, said: “ASEM’s strength in the IPC market and expertise in HMI will further expand our Control & Visualization hardware and software portfolio and enhance our ability to deliver high-performance, integrated automation solutions.”

Canberra's Citadel Group acquires UK-based Wellbeing Software for £103 Million
18th February 2020 - Canberra-based IT service management company Citadel Group has acquired UK-based healthcare software vendor Wellbeing Software Group for £103 million (A$199.5 million). The company provides radiology and maternity software solutions that manage patient workflow and data. Wellbeing will fit into Citadel’s health division, adding to its current offerings in pathology and oncology software. Announcing the deal, Citadel said the acquisition is in line with its strategy to further expand into “high quality software-based recurring revenue streams” and to shift the company’s overall earnings profile towards healthcare software. Citadel Chief Executive, Mark McConnell, said: “Citadel’s acquisition of Wellbeing transforms Citadel into a global healthcare software company with multiple growth opportunities. Citadel has been focused on growing in the healthcare software sector in the UK over the past two years.”

Infosys Partners with GE Appliances to Enable Digital and Workplace Transformation
Louisville (Kentucky), USA and Bengaluru, India – 18th February 2020 – Infosys, a global leader in next-generation digital services and consulting, has announced a long-term strategic partnership with GE Appliance, a Haier company, to effectively streamline IT operations. As an IT services partner, Infosys will help GE Appliances modernize its IT infrastructure and run IT in managed services mode as part of the overall innovation and optimization agenda. As a part of this alliance, Infosys will assist GE Appliances to accelerate their digital and workplace transformation through automation-driven managed IT services support across global command centers, service desks, end-user computing, IT infrastructure, and applications. Backed by robust ‘Transformation of service delivery’ and ‘Value to Price’ models, coupled with levers of innovation fund and year-on-year productivity, Infosys has developed a unified custom delivery model to accelerate GE Appliances’ digital transformation journey.

Windjammer Capital Acquires Compex Legal Services
Newport Beach, CA - 13th February 2020 - Windjammer Capital Investors has announced the acquisition of Compex Legal Services, Inc. in partnership with management. Terms of the transaction were not disclosed. Compex is a tech-enabled provider of outsourced medical records retrieval and litigation support services nationally.  Founded in 1972, Compex has a track-record of providing high quality service, fast turnaround times and proven scalability to a blue-chip customer base including insurance carriers, third party administrators and law firms. Compex leverages deep industry knowledge and investments in technology to deliver client specific solutions while navigating myriad jurisdictional process requirements.  Services include medical records retrieval, records summarization, multi-plaintiff litigation support, subpoena delivery and deposition reporting that are fully compliant with local, state and national requirements as well as customer specific process workflows and technology integrations.

ASG Partners with 4th-IR to Enrich ASG Data Intelligence with AI Models
Naples, Florida - 18th February 2020 - ASG Technologies, provider of integrated and flexible end-to-end solutions for the information powered enterprise, has announced that it has partnered with 4th-IR, which empowers innovators to transform their industry by making AI solutions accessible, affordable and easy to use. Under the terms of the partnership, as an ASG Business Partner, 4th-IR will bring ASG Data Intelligence—which helps enterprise organizations by capturing and governing information supply chains that empower stakeholders to find, understand, share and analyze trusted data—to customers in the financial services, healthcare and life sciences fields. Organizations increasingly recognize that data is their most strategic asset, and ASG’s Data Intelligence solution enables them to find, govern and identify the value within their strategic assets while remaining compliant with ever-changing regulatory environments. As organizations modernize and fast track data management for more accurate and efficient compliance, ASG’s Data Intelligence helps them identify ways to streamline efforts, reduce risk and free up resources for new data-driven opportunities.

22 February 2020