Software Tech M&A and Other News - April 2018 Round Up

02 May 2018

Tyler Technologies to Acquire Socrata

Tyler Technologies, Inc. has announced it has signed a definitive agreement to acquire Socrata, Inc., a Seattle-based venture-backed technology company, focused exclusively on accelerating the shift to digital government. The expected closing date is April 30, 2018. With this acquisition, Tyler clients in every public sector vertical - including justice, public safety, ERP/financial, and community development - will have the opportunity to make their data discoverable, usable and actionable, while potentially including data from other jurisdictions to make analytics even more powerful and meaningful. The data-as-a-service solution will go beyond typical analytics to help local government understand procedural bottlenecks and create predictive models that will assist in improving government operations.

Oracle acquires Grapeshot
On April 24, 2018, Oracle announced that it signed an agreement to acquire Grapeshot, a provider of brand safety and pre-bid contextual solutions to over 5,000 of the world's leading marketers. Every month, over 38 billion programmatic ad impressions are enhanced using Grapeshot's Contextual Intelligence Platform in dozens of languages, and this number has grown well over 100% year over year. Grapeshot's Contextual Intelligence Platform enables the rapid creation of highly-customized segments that allow marketers and their agencies to confidently avoid unsafe content that will damage brand equity and close the loop via Moat Measurement. It also extends global audience reach by targeting the most relevant context, including late-breaking news and trending themes, to complement Oracle Data Cloud’s custom audience segments. The acquisition of Grapeshot will dramatically expand Oracle Data Cloud's ability to improve marketing outcomes for their partners worldwide by adding the important dimension of context to Oracle Data Cloud's expertise in Audiences and Measurement.

Trimble to Acquire Viewpoint in $1.2 Billion Deal
Sunnyvale, California - April 23, 2018 – Trimble has announced it has entered into a definitive agreement to acquire privately-held Viewpoint from Bain Capital in an all-cash transaction valued at $1.2 billion. Viewpoint is complementary to Trimble's e-Builder business and will extend Trimble's ability to provide more complete and integrated project, jobsite and business workflows across the construction lifecycle. Currently managing over $400 billion of construction project value, Viewpoint has approximately 8,000 customers worldwide. "The construction industry is embarking on a major digital transformation, and together with Trimble we will further accelerate technology innovation and adoption to deliver even more value to our customers," said Manolis Kotzabasakis, CEO of Viewpoint. "This partnership is a perfect fit, as Trimble and Viewpoint share a common vision helping construction companies integrate operations across the office, team and field, improving project profitability, enhancing productivity, and effectively collaborating across the construction ecosystem."

Mitratech Acquires ThinkSmart LLC to Create End-to-End Legal Operations Platform
Las Vegas – 23rd April 2018) – Mitratech, a provider of legal and compliance software, has announced the acquisition of ThinkSmart LLC, creating an end-to-end platform designed to transform legal operations into a center of innovation and excellence. With the addition of ThinkSmart and the ThinkSmart Automation Platform (TAP), Mitratech’s TeamConnect platform can now bring people, processes and information together like never before. In today’s rapidly evolving legal landscape, there is a need for a truly evolutionary Enterprise Legal Management (ELM) platform.  ELM systems have delivered on the operational efficiencies, centralized view of information, security and data integrity required by professionals within legal departments.  As leading legal departments have grown into strategic partners with the rest of the business, the need for technology that securely and rapidly extends legal operations and services across the business is increasingly prevalent.  Combining TeamConnect with TAP uniquely addresses that need.

Iron Mountain acquires Derby Records Management, expanding presence in UAE
Dubai -
April 19th 2018 - Storage and information management services company, Iron Mountain Incorporated®, has announced the acquisition of Derby Records Management FZ LLC in Dubai, UAE, expanding the company’s presence and scale in the fast-growing Dubai market. The acquisition of Derby Records Management FZ LLC will add two facilities and over 100 customers to Iron Mountain’s existing business. Derby will be the Free zone arm of Iron Mountain UAE and will be part of the existing management. “I am extremely excited to add the talented Derby team and high-quality roster of clients to our existing Iron Mountain UAE business.  This acquisition marks an important milestone in our strategic expansion plan for the UAE and the region,” said George Harfouch, Managing Director, Iron Mountain UAE. “Acquiring Derby’s operations provides us with the opportunity to strengthen our presence and serve both new and existing customers on a national and international basis. We look forward to maintaining the high levels of service that the Derby’s customers expect for their records management and information management needs.”

Adobe acquires Start up Sayspring
Adobe has announced that it has acquired Sayspring, a startup that helps developers prototype and build the voice interfaces for their Amazon Alexa and Google Assistant apps. The company says the Sayspring team will join Adobe and it’ll then begin integrating the company’s technology into its own products. All of Sayspring’s services are now available free — but you need to be invited. Sayspring says it’ll select invitations and roll out new invites on a rolling basis. “The way we interact with our devices is at a significant inflection point,” writes Abhay Parasnis, Adobe’s Executive Vice President and CTO. “We’re moving beyond the keyboard and mouse and even our touch screens to using something that is even more natural — our voice — to interact with technology. Voice tech is growing fast, and we strongly believe it must become an integral part of Adobe’s portfolio, moving forward. We’re excited to welcome Sayspring to Adobe, and we’re looking forward to putting the technology to work to empower more people to create next-generation voice experiences.”

DocuWare Reports Record Revenue of Euro 44 million, led by nearly 140% Cloud Growth
New Windsor, NY - April 12, 2018 – DocuWare, a Cloud content services organisation, has announced its full-year fiscal 2017 financial results for the period ending December 31, 2017.
“In 2017, DocuWare experienced accelerated growth and increased profitability across its entire business,” said company co-president Juergen Biffar.  “Our total revenues of 44.0 million EUR were up 18% from 2016, 20% after adjusting for foreign currency effects. Overall, our Cloud revenues grew nearly 140%, while our traditional new and add-on premise license sales increased 17%. We attribute this breakthrough year to our relentless customer-centric focus, highlighted by our product’s ease of use, and excellent execution from our large and growing partner base that continues to benefit from our structured sales and enablement programs.”

HCL Technologies and Sumeru Equity Partners to Acquire Actian Corporation for $330 Million
Noida, India, and Palo Alto, California – April 12, 2018 – HCL Technologies (HCL) and Sumeru Equity Partners (SEP), a technology and growth-focused private equity firm, have signed a definitive agreement to acquire Actian Corporation. The all-cash deal is valued at US$330 million. HCL will own 80 percent while SEP will own approximately 20 percent of the JV entity which in turn will own 100% shareholding of Actian Corporation. Palo Alto-based Actian – a hybrid data management, cloud integration, and analytics solutions company – powers insight-driven enterprises around the globe to help them solve the toughest data challenges This acquisition will add cutting-edge intellectual property to HCL’s capabilities to enable global enterprises’ digital transformation journey. Commenting on the acquisition, C Vijayakumar, President and CEO, HCL Technologies, said, “Actian will play a critical role in enhancing HCL’s Mode 3 offerings in data management products and platforms. Actian’s products when combined with HCL’s Mode 2 solution offerings like Cloud Native, Digital and Analytics, and DRYICE™, will be a powerful proposition to harness the power of hybrid data.”

Exela Technologies Acquires Asterion International to Expand in Europe
Irving, Texas - April 10, 2018 - Exela Technologies, a global provider of platforms for business process automation ("BPA"), has announced that it has completed the acquisition of Asterion International Group, a well-established provider of technology-driven business process outsourcing, document management and digital data processing across Europe. The acquisition expands Exela`s European business to over $200 million in annual revenue and will enable Asterion`s customers to access Exela`s full suite of BPA solutions. Exela does not intend to disclose financial terms of the transaction. "With this acquisition we are poised to enhance Asterion`s current customer offering with our BPA solutions, including front, middle and back office automation," said Ron Cogburn, CEO of Exela Technologies.

CultureIQ and CEB Workforce Surveys & Analytics Division to Merge with Support of ParkerGale Capital
April 10, 2018 - New York - CultureIQ has announced it has reached an agreement to merge with CEB’s Workforce Surveys & Analytics (WS&A) division, which is being divested from Gartner. WS&A will be acquired from Gartner with the financial support of technology-focused private equity firm ParkerGale Capital. “This is an exciting combination of two great companies. One with strong, modern technology and one with decades of expertise and intellectual property. WS&A is the recognized industry leader working with some of the largest companies in the world and we are excited to join forces”, said CultureIQ CEO Greg Besner, who will be the CEO of the combined business. ParkerGale, having used CultureIQ’s products across its portfolio companies for several years, brought the idea of merging the companies earlier this year and financed the transaction along with CultureIQ’s existing investors.

SAP Completes Acquisition of Callidus Software Inc.
April 5, 2018 - DUBLIN, California and Walldorf - SAP SE has announced that it has completed its acquisition of Callidus Software Inc, a company known for its lead to money applications, including sales performance management and configure-price-quote (CPQ). The strategic move will strengthen SAP’s intelligent customer experience suite of solutions. Marketed under the brand CallidusCloud, these applications will provide SAP and its customers a differentiated, cloud-based customer relationship management (CRM) solution, positioning SAP with the ability to compete in the US$46 billion CRM market. Each outstanding share of Callidus Software Inc. common stock has been converted into the right to receive US$36 per share in cash. Callidus Software Inc. has notified the Nasdaq Stock Market of the completion of the acquisition and expects trading of its common stock to be suspended pending delisting.

SaaS & E-Commerce Business Subscription Service, Chargebee Raises $18 Million Through Series C Funding Round Led By Insight Venture Partners
Chargebee, a recurring billing platform for subscription-based SaaS and e-commerce businesses, recently announced it raised $18 million through its Series C funding round, which was led by Insight Venture Partners, with participation from existing investors Accel Partners and Tiger Global Management. Founded in 2011, Chargebee reported that it integrates with payment gateways such as Stripe, Braintree, PayPal to allow customers to automate recurring payment connections along with invoicing, taxes, accounting, email notifications, SaaS Metrics, and customer management. The company itself has more than 135 employees operating out of offices in Chennai and San Francisco and over 7,000 customers across 50 countries. It has also helped process over $65 Million USD of Invoices by early-stage companies for free and paid-forward $1 Million in doing this, which stands dwarfed in comparison to the impact of these global businesses that are being built with Chargebee. “Our growth is a testimony to the promise of the subscription world we operate in. And as enablers of the subscription model, we are uniquely placed to power your businesses – small, medium or enterprise.”