Infosys Completes Formation of Strategic Partnership with ABN AMRO in the Netherlands
Bengaluru, India and Amsterdam, The Netherlands – 24th May 2019 - Infosys, a global, next-generation digital services and consulting company, has announced that it has completed the formation of a strategic partnership with ABN AMRO in the Netherlands by acquiring 75% of the shareholding in their wholly owned end-to-end mortgage administration service provider Stater N.V. This follows the announcement the company made on March 28, 2019. Stater has deep European mortgage expertise and a robust digital platform to drive superior customer experience. The partnership strengthens Infosys’ position as a leading technology and business process management provider across the mortgage services value chain, improving experience and operational efficiencies, and further enhances the company’s strategy to help clients navigate their next digital transformation journeys. The specialized knowledge and experience of Stater in the mortgage services market, combined with the global reach, AI, digital transformation and automation capabilities of Infosys, can potentially create differentiated solutions for the market. https://www.infosys.com/newsroom/press-releases/Pages/completes-formation-strategic-partnership-ABN-AMRO.aspx
MRI Software Acquires Engage Property Technology
London, United Kingdom – 23rd May 2019 – MRI Software, a real estate software solutions company, has announced the acquisition of Engage Property Technology, a UK-based provider of self-service online portals used by property organisations of all sizes. The acquisition strengthens MRI’s end-to-end offering for the residential sector and furthers its aim of delivering the industry’s most comprehensive and flexible range of real estate technology solutions. Engage is an established partner of MRI, first integrating with the company’s Qube Property Management solution more than two years ago, and joint clients include several leading UK residential players. The acquisition enables MRI to bolster existing integrations between its back-office solutions and Engage’s online portals and provide more holistic support for owners and agents servicing residents in Build-to-Rent developments and other largescale properties.
IHS Markit and Informa to Exchange Business Units
London – 22nd May 2019 - IHS Markit, a specialist critical information, analytics and solutions organisation, and Informa, the international exhibitions, events, information services and scholarly research group, have announced the exchange of the majority of the IHS Markit Technology, Media and Telecoms (TMT) intelligence business for Informa’s Agribusiness Intelligence group. “This agreement is very positive for both IHS Markit and Informa, increasing the focus of each company on core markets where it has particular strengths and a long-term commitment to invest and grow,” said Lance Uggla, CEO of IHS Markit and Stephen A. Carter, Group Chief Executive, Informa PLC. The agreement values the two exchanged businesses at equivalent EBITDA multiples, with Informa contributing an additional $30 million cash to IHS Markit to reflect the larger EBITDA contribution from the TMT business. IHS Markit will retain RootMetrics, its benchmarking business and a portion of its market intelligence business. Both transactions are expected to close in July 2019 and are subject to customary closing conditions, including US regulatory approval.
Shaker and Montage Merge to Create Revolutionary Recruiting Automation Platform
21st May 2019 - Cleveland, OH and Delafield, WI - Shaker International, a provider of predictive talent intelligence and assessment solutions, has merged with Montage, the single solution to engage, interview and hire better candidates, faster. The new company will help its combined client base, which includes hundreds of global brands and 47 of the Fortune 100, transform talent acquisition by embedding predictive intelligence into automated hiring workflows that enable better candidate experiences and smarter hiring decisions for 100% of an organization’s hires. The company will be led by Kurt Heikkinen from Montage as CEO and Brian Stern from Shaker International as President, as well as a leadership team comprising executives from both companies. All employees and offices of the two companies are being retained, and the combined company will be co-headquartered in Cleveland, OH and Delafield, WI. Josh Bersin, Global Industry Analyst, said: “This merger demonstrates how people analytics supported by AI-based tools for interview and assessment are now a huge growth industry.”
Riverside to Acquire Digital Health Platform, Naturally Slim®
Dallas, Texas - 21st May 2019 - The Riverside Company, a global private equity firm, has invested in Naturally Slim® of Dallas, Texas. Naturally Slim is a digital health platform focused on helping participants reduce Metabolic Syndrome, lose weight and lead healthier lives. Naturally Slim is a clinically proven solution that drives behavioral changes to deliver long-lasting results, including sustained weight loss and a reversal of Metabolic Syndrome risk factors that can lead to serious health conditions. “We are thrilled to be working with an already-impressive management team that addresses one of the nation’s biggest health issues,” said Riverside Managing Partner Suzy Kriscunas. “Weight gain has become a nation-wide epidemic, affecting more than 70% of adults. Naturally Slim’s services not only assist in weight loss, but also reduce the factors that contribute to high-risk diseases.”
ABBYY Announces Intent to Acquire TimelinePI to Deliver Digital Intelligence for Enterprise Processes
Philadelphia, Pennsylvania – 20th May 2019 - Abbyy, a global organisation which offers Content IQ technologies and solutions, has announced its intent to acquire Philadelphia, Pennsylvania-based TimelinePI. TimelinePI provides a comprehensive process intelligence platform designed to empower users to understand, monitor and optimize any business process. The acquisition of TimelinePI is intended as a strategic investment by ABBYY into the emerging process intelligence market, which is critical to truly understand the impact and effectiveness of business processes and opportunities for productivity gains from digital transformation investments. TimelinePI’s vision of combining the most versatile process mining and operational monitoring with cutting-edge, process-centric AI and machine learning will serve as a critical cornerstone to ABBYY’s Digital IQ strategy. Ulf Persson, CEO at ABBYY, commented, “With TimelinePI, ABBYY will have the most comprehensive process intelligence platform for empowering companies to go beyond traditional text analytics and process mining to achieve true digital intelligence. With ABBYY’s advanced content analysis and natural language processing, the TimelinePI technology will achieve operational insights not available with traditional process mining tools.”
IBS Software to Acquire Canadian Aviation Software Company
19th May 2019 – Montreal - Travel technology specialist, IBS Software has entered into a definitive agreement with Massachusetts-based Kronos Incorporated, to acquire AD OPT, a company which supplies aviation software that provides crew management solutions to some of the biggest names in the global airline industry. The multi-million dollar acquisition is an integral part of IBS’ growth strategy to become the leading technology provider to the airline industry worldwide. Prior to this, IBS has made six strategic acquisitions - three in the USA, two in Europe, one in India - in its 21-year history. Acquisition of world-class travel technology companies has been a deliberate strategy of IBS to fulfill its commitment to the aviation industry. AD OPT offers a sophisticated suite of airline crew planning and optimization products, a sizeable customer base and a highly experienced team of professionals. The coming together of IBS and AD OPT is, therefore, extremely relevant for the industry as it enables us to create the most advanced digital platform, delivering a holistic solution for flight operations and crew management.” said VK Mathews, Executive Chairman, IBS Group.
Ivalua Exceeds $1B Valuation in New Funding Round to Accelerate Global Expansion & Technology Innovation
Redwood City, CA – 21st May 2019 - Ivalua, a provider of global Spend Management cloud solutions, has announced that it has raised $60 million in equity funding to further accelerate its rapid growth. This capital raise values the company at a ‘unicorn’ level of more than $1 billion. Ivalua recently announced that it is on pace to exceed $100 million in annual revenue in 2019. Investors in this round include Tiger Global Management, a new investor in Ivalua, and Ardian Growth, one of Ivalua’s early investors, who increased its overall investment level. Tiger Global Management joins Ivalua’s founders, KKR and Ardian Growth as shareholders. Ivalua’s management retains a majority stake in the company to ensure stable, long term planning and a continued focus on customers. https://www.ivalua.com/newsroom/ivalua-exceeds-1b-valuation-in-new-funding-round-to-accelerate-global-expansion-technology-innovation/