Boss Insights - Tech M&A Round Up - August 2019

Temenos Acquires Kony – US #1 digital banking SaaS company 
Geneva, Switzerland – 28th August 2019 – Temenos, a banking software company, has announced it is strengthening its Executive Committee and North America leadership team, following its acquisition of Kony, Inc., the US #1 digital banking SaaS company. Thomas E. Hogan, Chairman and CEO of Kony, will be appointed as the President of Temenos North America and a member of the Temenos Executive Committee. Max Chuard, Chief Executive Officer, Temenos, said: “With the acquisition of Kony, we are not only acquiring a great digital front office product but also an impressive team of over 1,500 experts in digital and cloud. I am extremely pleased to welcome Tom Hogan to our Executive Committee as the President of Temenos North America. Tom is an inspirational leader with rich experience in the technology sector and I am convinced we will continue to accelerate our success in the US and Canada.”
https://www.temenos.com/news/2019/08/28/temenos-strengthens-its-executive-committee-and-north-america-leadership-team-with-the-acquisition-of-kony/

 

The We Company to Acquire Spacious
New York - 27th August 2019 – Co-working giant, WeWork continues its buying spree - This time with the acquisition of rival, Spacious, which offers work spaces in existing restaurants. WeWork - which also recently filed for IPO - has acquired 3-year-old Spacious - It’s sixth start-up acquisition this year - for an undisclosed sum. In a statement, Chris Hill, WeWork’s Chief Product Officer, said: “Spacious’ team, real estate and operational expertise will help enable WeWork to continue to give our members access to the workspace they want, when they need it. We’re thrilled to welcome Spacious to WeWork.” The company added that through “expanded on-demand offerings, we will offer additional access to workspace by the minute, by the hour, or by the day”.
https://www.wework.com/ideas/the-we-company-to-acquire-on-demand-workspace-provider-spacious

 

Accenture Acquires Fairway Technologies to Bolster Product and Platform Engineering Services
New York - 27th August 2019 – Accenture has acquired U.S.-based Fairway Technologies, a provider of engineering services, to further power the Accenture Product and Platform Engineering Services practice, helping clients manage and innovate software-based platforms. Terms of the transaction were not disclosed. Together, Accenture Product and Platform Engineering Services practice and Fairway Technologies will help organizations maximize platform value by scaling and enhancing digital platforms that introduce new business models and revenue streams. Fairway Technologies includes more than 80 skilled professionals and has offices in San Diego and Irvine, California, as well as Austin, Texas. Ram Ramalingam, Managing Director of Accenture’s Product and Platform Engineering Services practice, said: “This acquisition will help Accenture continue to make next generation platform technology a reality for our clients. We turn innovative ideas into business differentiation, building products and platforms that create the right level of engagement and personalization with customers and ecosystem partners to help organizations thrive in the digital era.”
https://newsroom.accenture.com/news/accenture-acquires-fairway-technologies-to-bolster-product-and-platform-engineering-services.htm

 

Cisco Announces Intent to Acquire CloudCherry
San Jose California – August 26, 2019 – Cisco has announced its intent to acquire privately-held CloudCherry based in Salt Lake City, UT. CloudCherry is a Customer Experience Management (CEM) company that provides customer journey mapping, out-of-the-box integrations, and predictive analytics. Predictive analytics help contact center agents make real-time journey modifications such as up and cross-selling, discounts, service modifications and more, to meet customer needs and improve loyalty. Together, Cisco and CloudCherry will help companies transform their contact center from delivering reactive care to providing predictive support and move from isolated customer interactions to cohesive, engaging experiences for improved business outcomes.
https://newsroom.cisco.com/press-release-content?type=webcontent&articleId=2014001

 

Syncsort Acquires Pitney Bowes’ Software Solutions Business to Create a Leading Data Management Platform
New York - 26th August 2019 - Syncsort, has announced it has signed a definitive agreement to acquire Pitney Bowes’ Software Solutions business. Together, Syncsort and the Pitney Bowes software & data business becomes one of the largest data management software companies in the world and a leader in data quality, serving more than 11,000 customers and hundreds of resellers globally. With its unique scale and broader solution set, the company will offer differentiated capabilities to enterprises seeking to maximize insight from their data. The acquisition, Syncsort’s largest ever, brings to the company best-in-class location intelligence, data enrichment, customer information management and customer engagement solutions that are highly complementary to its existing portfolio. The combination builds on, and significantly expands, the breadth of Syncsort’s offerings in data quality software and complements existing Syncsort Trillium products. The transaction is expected to close by the end of the calendar year, pending regulatory approvals and other customary closing conditions.
https://www.syncsort.com/en/about/news-center/press-release/syncsort-acquires-pitney-bowes-software-solutions

 

Upland Software Announces Acquisition, Raises Guidance
Austin, TX - 22nd August 2019- Upland Software, Inc, a cloud-based enterprise work management software company, has acquired Cimpl, a cloud-based telecom expense management platform. The addition of Cimpl to Upland’s Project & Financial Management Solution Suite creates the market’s first IT Financial Management Cloud (ITFM Cloud) with enterprise-class IT financial management and full lifecycle telecom expense management, enabling enterprises to measure, manage, and align IT and telecom assets and spending at scale. The acquisition adds approximately $8 million in annualized revenues and will be immediately accretive to Upland's Adjusted EBITDA per share. Commenting, Jack McDonald, Chairman and CEO of Upland Software, said: “Acquiring Cimpl enables Upland to offer the market’s first IT Financial Management Cloud that combines IT and telecom expense management. Moreover, this transaction is immediately accretive to Adjusted EBITDA per share and takes Upland to a $228 million annualized revenue run rate. Our acquisition pipeline is robust, and we are actively pursuing additional opportunities to build out our solution suites.”
https://investor.uplandsoftware.com/press-release/upland-software-announces-acquisition-raises-guidance-0

 

1WorldSync to Acquire LANSA content syndication toolset
EWING, N.J – 26th August 2019 - 1WorldSync, provider of product content solutions, has announced that they have acquired Data Sync Direct and Sync Manager, product content syndication solutions from LANSA, (a division of Idera, Inc.), a provider of low-code application development platform tools. The Data Sync Direct and SyncManager product content syndication solutions address data alignment as well as regulatory and trading partner proprietary requirements. Used by the world’s largest consumer packaged goods (CPG) and medical device companies, these solutions have a proven history and strong pedigree in product data synchronization. said 1WorldSync Chief Executive Officer, Karin Borchert, said: “This combination of solutions will allow 1WorldSync to more quickly scale the connectivity between trading partners. Adding these significant capabilities to our portfolio will enable our global customer community to meet the requirements of their trading partners and regulatory bodies with speed and accuracy.”
https://www.1worldsync.com/1worldsync-to-expand-product-content-management-and-syndication-portfolio-through-the-acquisition-of-lansa-content-syndication-toolset/

 

Best Western® Hotels Acquires Hotel Property Management System Company, AutoClerk, Inc.
Phoenix, Arizona – 22nd August 2019 - Best Western Hotels & Resorts have announced the acquisition of AutoClerk, Inc. AutoClerk® is a hotel property management system (PMS) company that has been in business since 1986. This acquisition marks a major milestone in BWHR’s efforts to simplify distribution for its hotels by making technology management, revenue management, customer relationship management, reporting and connectivity simpler and easier. BWHR President and CEO David Kong, said: “This acquisition will enable BWHR to enhance its competencies in an increasingly complex distribution landscape to drive benefits to its hotels with faster and more reliable connectivity. It will also allow us to implement technology solutions to help our hotels become more effective in servicing its guests, simplify management of rates and inventory and improve management reporting.”
https://www.bestwestern.com/en_US/about/press-media/2019-press-releases/bw-acquires-autoclerk.html

 

IT Solutions Acquires Fellow MSP SecurElement
Fort Washington, PA - 20th August 2019 - IT Solutions has announced the acquisition of fellow MSP SecurElement Infrastructure Solutions. They describe the acquisition as a “natural pairing of the two companies’ complementary services” which “will provide immediate opportunities for clients to explore several alternatives in managed cloud, security and digital workplace solutions with a strong emphasis on Microsoft Office 365, SharePoint and Teams.” This is the latest in a growing number of mergers and acquisitions across the MSP landscape nationwide where companies are combining forces to overcome increasing cyber threats, more complex client environments, growing support needs, and qualified staffing shortages. IT Solutions will acquire SecurElement’s assets, including customer contracts, and has made an investment in updating the ITS headquarters in Fort Washington, PA, to accommodate the expansion. This is the fourth and largest acquisition in IT Solutions’ history, and the first since the company became a 100% employee-owned business in 2012.  IT Solutions will leverage SecurElement’s expertise in security and cloud hosting as they continue expansion plans in the Greater Philadelphia and Mid-Atlantic regions.
https://www.itsolutions-inc.com/news-and-training/article/its-acquires-securelement/

 

30 August 2019