M&A and Other Industry News - April 2016

Pivotal announces  Series C financing to fuel continued expansion and meet growing customer demand - Raises $253 million led by Ford and joined by new investor Microsoft

San Francisco, California - May, 5, 2016 – Pivotal®, a company focused on accelerating digital transformation for enterprises, has announced that it expects to close a Series C financing round highlighted by $253 million in new cash, led by new investor Ford Motor Company, in conjunction with Microsoft as well as previous investors, GE, EMC and VMware. The deal is expected to close in May 2016, subject to customary conditions, including receipt of required regulatory approval. On the heels of its three-year anniversary, Pivotal continues to see widespread and growing demand from enterprises looking to use software to transform their businesses. The company now works with seven of the top 10 U.S. banks, three of the top five global auto manufacturers, and five of the top 10 telecommunication companies, validating Pivotal’s unique value proposition of delivering a modern software development methodology coupled with a modern cloud platform and data tools. http://pivotal.io/corporate/press-release/pivotal-announces-series-c-fin...

Iron Mountain Completes Acquisition of Recall

Acquisition strengthens global footprint, opens up new markets and enhances service delivery Boston -  May 2, 2016 - Iron Mountain Incorporated, the  storage and information management services company, has announced the completion of its acquisition of Recall Holdings Limited as a primarily stock transaction for approximately $2 billion (US). With the acquisition, Iron Mountain acquires the entirety of Recall’s global operations, including all facilities, vehicles, employees and customer assets , excluding operations to be divested in accordance with regulatory agreements in the United States, Canada and Australia; the acquisition of the Recall business in the UK remains subject to regulatory review. Additionally, Iron Mountain appointed Recall directors Neil Chatfield and Wendy Murdock to its Board of Directors, who are included among director nominees standing for election at the company’s upcoming Annual Meeting of Stockholders on June 17, 2016. http://www.ironmountain.com/About-Us/Company-News/News-Categories/Press-...

Lexmark agrees to be acquired by Apex Technology and PAG Asia Capital for $3.6 Billion

LEXINGTON, Ky - April 19, 2016 - Lexmark International, Inc. has announced that it has entered into a definitive merger agreement with a consortium of investors led by Apex Technology Co., Ltd. (Apex) and PAG Asia Capital (PAG), under which Lexmark will be acquired for $40.50 per share in an all-cash transaction with an enterprise value of approximately $3.6 billion, net of cash. Legend Capital Management Co., Ltd. (Legend Capital) is also a member of the Consortium. The transaction is the result of a thorough review of strategic alternatives undertaken by Lexmark's Board of Directors, with the assistance of outside advisors, to maximize value for shareholders and unlock the company's intrinsic value, and has been unanimously agreed by the Board. http://newsroom.lexmark.com/2016-04-19-Lexmark-agrees-to-be-acquired-by-...
See also Document Boss’ commentary

Adobe Document Cloud and Box Team Up to Transform Digital Document Processes

San Jose and Redwood City, California - April 26, 2016 -  Adobe and Box have announced they are teaming up to make working with digital documents in the enterprise an effortless experience. The companies are announcing a set of powerful new integrations that seamlessly connect workflows between Adobe Document Cloud, Adobe Sign and Box’s secure enterprise content collaboration platform. Digital transformation has quickly become a strategic imperative in almost every industry, requiring organizations to transform their business processes and reimagine how they connect with customers, partners and employees. Increasingly, this means managing massive amounts of content and digital files that are home to mission-critical data and intellectual property. With more than two billion PDFs alone in Box today, these new integrations from Adobe and Box will help enterprises across the globe organize, manage and collaborate on their most valuable content. https://www.adobe.com/news-room/pressreleases/201604/042616AdobeDocument...

OpenText signs Definitive Agreement to acquire certain Customer Experience Software assets of HP Inc. for approx. $170 Million

Waterloo, Ontario - 18th April 2016 - Open Text Corporation, a leader in Enterprise Information Management has announced it has entered into a definitive agreement to acquire certain customer experience software and services assets from HP Inc in order to strengthen its Enterprise Information Management (EIM) offerings. The software assets acquired include HP TeamSite, a modern, multi-channel digital experience management platform for web content management, HP MediaBin, a digital asset management solution, HP Qfiniti, an intelligent workforce optimization solution, designed to improve enterprise contact center management, as well as HP Explore, HP Aurasma, and HP Optimost. OpenText expects that the acquisition will complement its current software portfolio, particularly its Customer Experience Management and Cloud offerings, allowing OpenText to better serve its customers by offering them a wider selection of software solutions. http://www.opentext.com/who-we-are/press-releases?id=DFE27860219443C99EF...

OpenText to acquire ANX for $100 Million

Waterloo, Ontario – 17th April 2016 - OpenText™ a leader in Enterprise Information Management (EIM), has announced that it has entered into a definitive agreement to acquire ANXeBusiness Corp. (ANX), a provider of cloud-based information exchange services to the US Automotive and Healthcare industries. ANX is expected to be integrated into the OpenText Business Network, a portfolio of cloud solutions and software designed for efficient, secure and compliant supply chain and business collaboration between organizations. Complementing OpenText’s existing B2B integration solutions, ANX is expected to strengthen OpenText’s industry presence and reach in the Automotive and Healthcare industries through strong customer relationships and targeted business partner collaboration solutions. With ANX, OpenText anticipates it will continue to address industry specific B2B requirements to provide all organizations with reliable, secure and compliant information exchange that meets their specific needs. http://www.opentext.com/who-we-are/press-releases?id=0E5D57B456EE4C6E9D9...

Iron Mountain Enters African Market with Purchase of Controlling Interest in Docufile South Africa Company continues to execute on strategy to expand presence in emerging markets

Boston - April 21, 2016 - Iron Mountain Incorporated®, the storage and information management company, has announced it has entered the African market with the purchase of a controlling interest in Docufile South Africa, the largest, privately owned records management company in South Africa. Iron Mountain has purchased 75 percent of Docufile and has taken over day-to-day operations, with the two companies jointly driving business development in South Africa. Founded in 1998, Docufile’s solutions cover the full information life cycle. “Our investment in Docufile aligns with our stated objective for expanding our international footprint and establishing a presence in key regions like Africa,” said Marc Duale, President International for Iron Mountain. http://www.ironmountain.com/About-Us/Company-News/News-Categories/Press-...

CrownPeak Raises $50 Million From K1 and Joins Forces with ActiveStandards to Become Leading Cloud-Based Digital Experience Management Company

April 6, 2016, Los Angeles, California - CrownPeak, a cloud-based Digital Experience Management (DXM) platform provider, has announced that it has merged with UK-based ActiveStandards, the pioneer who established the enterprise Digital Quality Management (DQM) market. The combined company will provide clients with the only cloud-first DXM platform that features built-in DQM. In connection with the merger, the company has confirmed a $50 million investment by K1 to support the anticipated re-launch as well as future product enhancements.  The merger, which will carry the CrownPeak name, brings together two leading providers of enterprise-grade, SaaS digital content and quality management solutions. https://www.activestandards.com/about-us/newsroom/crownpeak-raises-50-mi...

Pegasystems acquires Robotic Automation Software provider, OpenSpan

CAMBRIDGE, Mass. – April 12, 2016 – Pegasystems Inc, the software company specialising in strategic business applications for global organisations, has announced the acquisition of Atlanta, GA-based OpenSpan, Inc., a privately held software provider of robotic process automation (RPA)  and workforce analytics software. OpenSpan uses robotic automation to ease the burden on customer service representatives (CSRs) by automating routine desktop tasks, thus increasing employee productivity and job satisfaction. By providing insight into desktop activity and automating or eliminating repetitive, time-consuming tasks, OpenSpan frees agents to focus their energy on delivering exceptional customer experience while also helping to lower operational costs https://www.pega.com/about/news/press-releases/pegasystems-acquires-robo...

Ingram Micro enters into definitive agreement to acquire Ensim

Irvine, CA - 4th April16 - Ingram Micro Inc. has announced that it has entered into a definitive agreement to acquire privately-held, San Jose, California-based Ensim Corporation, an organisation which specialises in enabling the distribution of cloud applications. The transaction, which is subject to the approval of Ensim shareholders and other customary closing conditions, is expected to close in the next 30 days. Alain Monié, Ingram Micro CEO, commented, "This acquisition is an excellent complement to Ingram Micro and we look forward to Ensim joining our team." David Wippich, Ensim CEO said, "This is a superb next step for Ensim and we expect to leverage the financial strength, brand recognition and global infrastructure of Ingram Micro to further speed the growth of our business. Our customers and employees will benefit from this union and we are excited to partner with Ingram Micro." http://www.ensim.com/news

EMC to sell Documentum

April 6th 2016 - It is widely reported that EMC is to sell its Documentum business as part of a strategy, agreed with acquirer Dell Inc, to divest more than $6 billion in assets as part of the largest technology takeover ever. Dell is also reputed to be proceeding with selling software assets, Sonicwall and Quest, though these discussions are not yet public knowledge. The company would like to sell the two divisions for around $4 billion and private equity firms as well as strategic suitors have already expressed interest in the divestitures. Dell already agreed to sell its information-technology services businesses to NTT Data Corp. on March 28 for more than $3 billion. The business, known as Dell Services, includes much of what was formerly called Perot Services. The motivation behind the divestments is to reduce the debt burden Dell and EMC will face if their $67 billion merger completes later this year. Dell, which has said it will add about $50 billion in debt to get the deal done, expects the acquisition to close between June and October, according to sources close to the transaction. Both Dell and EMC spokespersons declined to comment. https://www.emc.com/en-gb/index.htm

Salesforce acquires MetaMind

Palo Alto – April 5th 2016 – In a statement by AI company, MetaMind CEO, Richard Socher confirms that they have been acquired by Salesforce. Terms of the transaction have not been revealed. MetaMind plans to continue their AI research to enhance their deep learning platform’s accuracy and capabilities. The two companies combined will be able to offer their customers AI solutions with innovative capabilities that further automate and personalize customer support, marketing automation and many other business processes. MetaMind will also extend Salesforce’ data science capabilities by embedding deep learning within the Salesforce platform. As a standalone company, MetaMind’s general-purpose platform was designed to predict outcomes for language, vision and database tasks. https://www.metamind.io/salesforce-acquisition

Sitecore partners with EQT as new majority investor

Copenhagen, Denmark and Sausalito, California, USA – April 1st, 2016 – Sitecore®, an organisation offering customer experience management software, and EQT VII (“EQT”), jointly announced that EQT has taken a majority equity stake in Sitecore from its founders, Technology Crossover Ventures and other minority shareholders in a transaction valuing Sitecore at approximately EUR 1 billion. As part of the transaction, Sitecore’s founders are rolling a significant portion of their equity and partnering with EQT for the next phase of growth. Following continued strong growth of more than 30% p.a. in recent years, Sitecore generates revenues of around EUR 200 million at an EBITDA margin of approximately 25%. Sitecore has close to 800 employees across Europe, North America and Asia Pacific. “The partnership and acquisition announced is specifically designed to sustain Sitecore’s profitable growth and scale as Sitecore continues to expand at a rapid, double-digit pace,” said Michael Seifert, CEO and co-founder of Sitecore.  The transaction is subject to approval by relevant regulatory authorities and is expected to close in Q2 2016. http://www.sitecore.net/about/press-and-media/press-releases/2016/03/sit...

IBM announces plans to acquire Bluewolf for c$200 million to accelerate Cloud-based customer experiences for Salesforce users

Armonk, New York - 31 Mar 2016 - IBM has announced plans to acquire Bluewolf Group LLC - one of Salesforce’ top partners and a recognized leader in cloud consulting and implementation services. The acquisition uniquely combines cloud services and strategic consulting with innovation in experience design, mobility and cognitive solutions. Bluewolf will extend IBM’s analytics, experience design and industry consulting to deliver differentiated, consumer-grade experiences via the cloud. “There is no question that the consumer-grade experience has emerged as a fundamental element in modern business strategy,” said Bridget van Kralingen, Senior Vice President, IBM Global Business Services. “Meeting that expectation defines next-generation differentiation and competitive position and, with Bluewolf, we add expertise to scale that capability to the cloud-based capabilities of Salesforce.” http://www-03.ibm.com/press/uk/en/pressrelease/49455.wss

06 May 2016