Cornerstone to Acquire Saba in a Deal Valued at £1.4 Billion
London – 25th February 2020 - Cornerstone OnDemand, Inc, a global, people development solutions organisation, has announced it has entered into a definitive agreement to acquire Saba, a global talent experience solutions business and a portfolio company of Vector Capital. Saba has over 20 years of industry experience developing, delivering and supporting learning, performance and recruiting product solutions. The cash and stock transaction is valued at approximately $1.395 billion and has been unanimously approved by the boards of directors of both companies. With the addition of Saba, Cornerstone will have an expanded reach and ability to help a larger, diverse group of clients realise the potential of their people with the right learning and development opportunities. The combined company will be well-positioned to deliver a highly differentiated portfolio of people development and talent experience software solutions by leveraging the existing product portfolio, as well as through accelerated product development enabled by a larger combined R&D team, greater financial resources, and a shared vision for the future.
Tetra Tech Acquires Segue to Expand High-End IT Capabilities
Pasadena, California- 25th February 2020 - Tetra Tech, Inc. has announced that it has acquired Segue Technologies, Inc.® an information Technology (IT) management consulting firm based in Arlington, Virginia. “The integration of high-end technology applications with our subject matter expertise in water, environment and sustainable infrastructure continues to expand Tetra Tech’s ability to provide innovative solutions for our clients,” said Dan Batrack, Tetra Tech Chairman and CEO. “The addition of Segue enables us to apply exciting cutting-edge techniques that incorporate advanced data analytics, cloud services, and enterprise-wide software applications for our government and commercial customers. Segue also brings additional capabilities with system modernization tools that are critical for our Department of Defense customers.”
McAfee to Acquire Light Point Security to Extend MVISION Unified Cloud Edge (UCE) Capabilities for Secure Access Service Edge (SASE)
Santa Clara, California – 24th February 2020 - Device-to-cloud cybersecurity company, McAfee, has announced it has entered into a definitive agreement to acquire Light Point Security, LLC, an award-winning pioneer of browser isolation. Upon the close of the acquisition, the Light Point Security team will join McAfee. The increasing use of the Internet, and the accelerating adoption of the cloud by companies, has made the browser one of the most vulnerable parts of an enterprise’s IT attack surface. McAfee plans to integrate Light Point Security’s browser isolation technology into McAfee Secure Web Gateway, complementing its existing comprehensive inbound and outbound protection for all web and cloud traffic. With this combination, enterprises will be able to prioritize both security efficacy and user experience by removing user exposure to malware while maintaining responsive access to legitimate websites and cloud applications. Additionally, McAfee plans to integrate browser isolation into the newly released MVISION UCE solutionThis will allow customers to apply a consistent threat protection policy across their network and SaaS applications, such as Office365 and other collaboration applications.
Intuit to Acquire Credit Karma for $7.1 Billion
Mountain View, California - 24th February 2020 - Creator of TurboTax, QuickBooks and Mint, Intuit, has announced that it has agreed to acquire Credit Karma, the consumer technology platform with more than 100 million members in the U.S., Canada and U.K., for approximately $7.1 billion in cash and stock. By agreeing to acquire Credit Karma, a company with nearly $1 billion in unaudited revenue in calendar year 2019, up 20% from the previous year, Intuit accelerates its mission of powering prosperity around the world. The combination brings together two technology companies with a shared goal to help solve the personal finance problems that consumers face today, regardless of their financial situation -- managing debt, maximizing savings, access to better credit cards and loans -- with an aim to put more money in consumers’ pockets. CEO of Intuit, Sasan Goodarzi, said: “Our mission is to power prosperity around the world with a bold goal of doubling the household savings rate for customers on our platform. We wake up every day trying to help consumers make ends meet. By joining forces with Credit Karma, we can create a personalized financial assistant that will help consumers find the right financial products, put more money in their pockets and provide insights and advice, enabling them to buy the home they’ve always dreamed about, pay for education and take the vacation they’ve always wanted.”
Tech Mahindra Acquires AI Start Up, Zen3 Infosolutions, for $64 Million
Redmond, Seattle - 24th February 2020 - Tech Mahindra has announced the acquisition of Zen3 Infosolutions, an American-based AI company, for $64 million in an all-cash transaction. The deal is expected to close in by 1st April this year. The Indian subsidiary of Zen Group will be acquired by Tech Mahindra (India) and the Zen3 Infosolution (America) will be acquired by the Tech Mahindra (America). Zen3 has expertise in software product engineering, DevOps testing, machine learning, AI and analytics. Tech Mahindra in the filing to the BSE mentioned that the acquisition will enable the firm to offer various AI-enabled services. Zen3 is also a cloud-native organisation that delivers cloud services. Being a Microsoft Gold partner, the firm provides cloud solutions to help firms gain operational efficiency, reduce costs, and more. Some of the prominent Zen3 solutions are conversational analytics solution — www.sayint.ai — to server the call centre market, which was launched in 2016.
Wipro Digital Acquires Rational Interaction, Enhancing CX
Seattle, WA, USA and Bangalore, India – 21st February 2020 - Wipro Digital, the digital business unit of Wipro Limited has announced that it has acquired Rational Interaction, a full-service digital customer experience (CX) company. The acquisition will scale Wipro Digital’s offering for Chief Marketing Officers, connecting Rational Interaction’s ability to map and orchestrate the customer journey with Wipro Digital’s ability to design and build experiences at global scale. Together, the companies will provide bespoke and effective solutions for the marketing suite. Rajan Kohli, President and Head, Wipro Digital, Wipro Limited, said: “This acquisition comes at a time when companies increasingly compete solely on CX, and the market for CX spending is growing exponentially. Discovering, refining and optimizing the customer experience from first impression through repeat sale requires best-in-class talent, unique marketing technologies and methodologies, and the ability to scale and demonstrate payback quickly. Together, Wipro and Rational Interaction are a perfect combination for CMOs.”
Hyland completes acquisition of Streamline Health’s ECM business
Cleveland - 25th February 2020 - Content services provider, Hyland, has completed the acquisition of Streamline Health’s enterprise content management (ECM) business. The acquisition bolsters Hyland’s efforts to become the world’s leading content services provider and furthers Hyland Healthcare’s mission of helping healthcare organizations improve the lives of patients and enhance the experiences of healthcare consumers. Bill Priemer, President and CEO of Hyland, said: “This is an exciting step for Hyland. The addition of Streamline Health’s ECM business brings a wealth of talent, broadens the Hyland Healthcare portfolio and will empower even more healthcare organizations to gain a complete view of their patients and deliver exceptional care.” Hyland Healthcare’s suite of solutions enables healthcare organizations to harness all unstructured content throughout the enterprise and connect it to core applications. With enterprise access to clinical documents, medical images and other forms of unstructured information, providers gain a comprehensive view of the patient to streamline clinical workflows, improve decision making and support better outcomes.
Knoema Acquires Alternative Data Aggregator and Solutions Provider Adaptive Management
New York – 21st February 2020 - Knoema, the provider of an end-to-end data and knowledge management platform that has the ability to integrate, visualize and autonomously discover data assets within enterprises, has announced that it has acquired Adaptive Management, an alternative data aggregator and solutions provider. Financial terms of the transaction are not being disclosed. This acquisition will combine Knoema’s advanced knowledge management platform and global data repository with Adaptive’s catalog of thousands of alternative datasets to deliver the most powerful solution available for enabling technical and non-technical users to integrate, discover, and use their enterprise data assets. Alternative data providers will now benefit from Knoema’s ability to help them monetize their data by making their datasets discoverable by hundreds of thousands of individuals on Knoema’s Public Platform. Knoema can also provide these vendors with tools for handling the heavy lifting inherent to data, including data management and entitlements, integrating the data into user workflows, and building user interfaces and APIs for delivery.
Symphony Technology Group Enters Definitive Agreement with Dell Technologies to Acquire RSA
Palo Alto, CA and Round Rock, TX – 18th February 2020 – A consortium led by Symphony Technology Group (STG), Ontario Teachers’ Pension Plan Board (Ontario Teachers’) and AlpInvest Partners (AlpInvest) has entered into a definitive agreement with Dell Technologies to acquire RSA in an all-cash transaction for $2.075 billion, subject to certain adjustments. The transaction, which includes the purchase of RSA Archer, RSA NetWitness Platform, RSA SecurID, RSA Fraud and Risk Intelligence and RSA Conference, is expected to close in the next six to nine months. Terms of the agreement were not disclosed. RSA provides risk, security and fraud teams with the ability to holistically manage digital risk, including threat detection and response, identity and access management, integrated risk management and omnichannel fraud prevention. Today, more than 12,500 customers rely on RSA to enable their digital transformation, address increasingly advanced cyber threats and adapt to more complex digital regulations. RSA Conference is the world’s largest security conference where leading experts gather to discuss the most important cybersecurity trends, challenges, solutions and innovations.
XContent Business Solutions acquires IT division of Auric Consulting
Johannesburg – 18th February 2020 - With a view to growing its current offering to customers and expanding into the coastal region of the South African market, XContent Business Solutions, a Microsoft Gold partner, has acquired Auric Consulting. Both XContent Business Solutions and Auric Consulting are focused on Microsoft Cloud and have knowledgeable teams, and XContent is now able to offer POPI (Protection of Personal Information) consulting and readiness by drawing on the local experience and resources within Auric.readiness to customers by drawing on Auric's resources. XContent provides customers with innovative solutions through leading cloud technology and services. Danie de Lange, Managing Director of XContent, said: “We are excited by our continued growth within the Microsoft space in South Africa. We have been working hard to ensure that we are at the top of our game and that we remain there.”
Epsidon Technology Holdings announces aquisition of Nology
Gauteng, South Africa - 18th February 2020 - Epsidon Technology Holdings (Epsidon) has announced its acquisition of Nology, a specialist, value-added distributor of converged IP solutions to service providers, network operators, systems integrators and resellers across Southern Africa. Debbie Abrahall, Managing Director of First Distribution, a division of Epsidon, commented: “We are really excited about the acquisition of Nology as it provides us with additional high value solution offerings that we can take to our partner base, thereby allowing them to increase their value to their customers. Nology’s converged communications offerings will seamlessly extend some of First Distribution's offering, allowing us to bring integrated video, voice and data solutions to the channel. The converged communication market is experiencing much higher growth than the traditional ICT markets, and this will present opportunities for our partners to look at new revenue streams in these high growth areas.”
Keith Block Steps Down as Salesforce Co-CEO; Marc Benioff is Chair and CEO
San Francisco – 25th February 2020 - Salesforce has announced that Keith Block has stepped down as co-CEO of Salesforce and Marc Benioff is Chair and CEO of the company. Block is remaining as Advisor to the CEO. "It's been my greatest honor to lead the team with Marc that has more than quadrupled Salesforce from $4 billion of revenue when I joined in 2013 to over $17 billion last year," said Block. "We are now a global enterprise company, focused on industries, and have an ecosystem that is the envy of the industry, and I'm so grateful to our employees, customers, and partners. After a fantastic run I am ready for my next chapter and will stay close to the company as an advisor. Being side-by-side with Marc has been amazing and I'm forever grateful for our friendship and proud of the trajectory the company is on." Benioff said: "I am especially grateful to Keith for his service to Salesforce over the last seven years. I am delighted that he will be staying on as an advisor to me. Keith's strategic thinking and operational excellence have deeply strengthened our company, and our close friendship endures. I am Keith's biggest supporter as he creates the next chapter of his storied career. He will always be part of our Ohana." Salesforce also announced today that it has named Gavin Patterson, former BT Group plc Chief Executive, its President and CEO of Salesforce International.