Tech M&A Round Up - 9th August 2019

Broadcom to Acquire Symantec Enterprise Security Business for $10.7 Billion in Cash
San Jose, California – 8th August 2019 - Broadcom, Inc, a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions, has announced an agreement to acquire the enterprise security business of Symantec Corporation for $10.7 billion in cash. The addition of Symantec's enterprise security portfolio will significantly expand Broadcom's infrastructure software footprint as it continues to build one of the world's leading infrastructure technology companies. Hock Tan, President and Chief Executive Officer of Broadcom, said: "M&A has played a central role in Broadcom's growth strategy and this transaction represents the next logical step in our strategy following our acquisitions of Brocade and CA Technologies. Symantec's enterprise security business is recognized as an established leader in the growing enterprise security space and has developed some of the world's most powerful defense solutions that protect against today's evolving threat landscape and secure data from endpoint to cloud. We look forward to expanding our footprint of mission critical infrastructure software within our core Global 2000 customer base."

Roper Technologies to Buy iPipeline from Thoma Bravo in Deal Valued at $1.625 Billion
Sarasota, Florida – 8th August 2019 - Roper Technologies, Inc, a diversified technology company, has announced that it has reached a definitive agreement to acquire iPipeline in an all-cash transaction valued at $1.625 billion. iPipeline’s cloud-based software delivers award-winning solutions for the life insurance and annuity industries. iPipeline’s suite of SaaS-based applications provides workflow automation and seamless integration across a broad network of approximately 150 carriers, 1,350 distributors, and over 500,000 agents. iPipeline solutions help the network to reduce costs by improving cycle times and digitally enabling paper-based processes, while accelerating customer revenue by bringing new life insurance products and features to market faster. “The iPipeline transaction demonstrates our disciplined capital deployment strategy by acquiring another high-quality business that will help grow and compound our cash flow,” said Neil Hunn, Roper’s President and CEO. “iPipeline is a terrific company with clear niche market leadership, a history of strong organic growth, high customer retention, and a management team that will thrive as part of Roper.”

EQT invests in Ellab, a global supplier of thermal validation solutions and services
Denmark - 7th August 2019 - EQT has announced it is to acquire a majority stake in Ellab, a global supplier of thermal validation solutions and services, from the IK VIII Fund. EQT will support Ellab in its efforts to enhance the go-to-market model, increase investments in R&D and innovation, expand its service offering and by leveraging EQT’s strong sector expertise, global presence, and network of Industrial Advisors. The existing management team, led by long-time CEO Peter Krogh, will drive the continued global growth journey and remain invested in the Company. Founded in 1949, Ellab is a leading global supplier of solutions and services for validating, measuring, recording, and monitoring critical parameters of thermal applications. Ellab’s products are used by the pharmaceutical and food processing industries as well as in hospitals, where accurate and complete documentation is essential. Ellab is expected to benefit from EQT’s global presence and deep sector expertise within the cross-section of Industrial Technology, Healthcare and Services.

Cisco Announces Intent to Acquire Voicea
San Jose California - 6th August 2019 - Cisco has announced its intent to acquire privately-held Voicea, headquartered in Mountain View, CA. Voicea is the creator of a real-time solution that provides meeting transcription, voice search and meeting highlights/action items, with robust data privacy.  It helps teams have more productive and actionable meetings by turning talk into action. With Voicea technology, Cisco will enhance its Webex portfolio of products with a powerful transcription service that blends AI and Automated Speech Recognition (ASR) to unlock the power of any collaboration, like meetings and calls.  Our first focus with Voicea is to turn meetings into a treasure trove of digital meeting notes and insights. Attendees and non-attendees can quickly gather the most relevant information from these digital notes and insights, turning a block of text into actionable information.

Park Place Technologies Strengthens its Vision with Ground-breaking Deal for Network Analytics Software Provider, Entuity
Cleveland, Ohio - 6th August 2019 - Park Place Technologies has announced that it has signed an agreement for the acquisition of Entuity, a global network performance monitoring software company with offices in Boston and London. This will be Park Place’s first acquisition outside of the third-party maintenance category and will be a key component of its multi-vendor service delivery model. Following the acquisition, Park Place will stand apart as the only multi-vendor, global hardware maintenance provider that offers customers monitoring, automated maintenance, Network Operations Center (NOC) services, event management, probable cause and IT Data Analytics across a single pane of glass. Entuity provides the analytics required to keep networks performing and offer visibility into issues before they impact business services.

Microsoft buys PromoteIQ, vendor of marketing tech for online retailers
New York - 5th August 2019 - Microsoft has acquired PromoteIQ, a vendor of marketing technology for online retailers and brands. Officials said, Microsoft plans to make PromoteIQ a division within Microsoft Advertising but it will maintain its own brand. Rik van der Kooi, Corporate Vice President, Microsoft advertising, wrote in a blog post: “PromoteIQ’s technology strategically complements Microsoft’s current retail advertising offerings, and together, we can enable retailers with a portfolio of technology solutions to modernize their e-commerce platforms and maximize their monetization opportunity.”

NIKE, Inc. Acquires Data Science and Demand Sensing Expert Celect
NIKE, Inc. has acquired Celect, a retail predictive analytics and demand sensing firm based in Boston. Celect is Nike’s latest acquisition fueling its Consumer Direct Offense strategy, serving consumers personally at a global scale. “With the acquisition of Celect, Nike greatly accelerates our digital advantage by adding a platform developed by world-class data scientists.” said Eric Sprunk, NIKE, Inc. Chief Operating Officer. “As demand for our product grows, we must be insight-driven, data-optimized and hyper-focused on consumer behavior. This is how we serve consumers more personally at scale.” Celect, founded in 2013, holds a cutting-edge intellectual property portfolio across data science and software engineering. Celect’s cloud-based analytics platform provides proprietary insights that allow retailers to optimize inventory across an omnichannel environment through hyper-local demand predictions.

HPE Advances its Intelligent Data Platform with Acquisition of MapR
San Jose, California – 5th August 2019 - Hewlett Packard Enterprise has announced it has acquired the business assets of MapR, a data platform for artificial intelligence and analytics applications powered by scale-out, multi-cloud and multi-protocol file system technology. This transaction includes MapR’s technology, intellectual property, and domain expertise in artificial intelligence and machine learning (AI/ML) and analytics data management.  HPE welcomes MapR customers and partners and plans to support existing deployments along with ongoing renewals. Antonio Neri, President and CEO of Hewlett Packard Enterprise, commented: “The explosion of data is creating a new era of intelligence where the winners will be the ones who harness the power of data, wherever it lives. MapR’s file system technology enables HPE to offer a complete portfolio of products to drive artificial intelligence and analytics applications and strengthens our ability to help customers manage their data assets end to end, from edge to cloud.”

Fox Corp. to Acquire Majority Stake in Credible Labs for $265 Million
San Francisco - 5th August 2019 - Fox Corp has entered into an agreement to buy a majority stake in the consumer finance marketplace Credible Labs Inc. As part of the merger agreement, Fox Corp. will pay $265 million for 67% of the company in addition to injecting $75 million growth capital over approximately two years. “The acquisition of Credible underscores Fox Corporation’s innovative digital strategy that emphasizes direct interactions with our consumers to provide services they want and expand their engagement with us across platforms,” said Fox Executive Chairman and CEO, Lachlan Murdoch. “Credible, which has tremendous synergy with core brands such as Fox Business and Fox Television Stations, and will benefit from our audience reach and scale, will drive strategic growth, further develop our brand verticals and deepen consumer relationships.” The fintech company had synergies with FOX Business and FOX Television businesses and would join its FOX Sports app, live and on demand content and FOX Now, Fox said, which would help both companies to grow.

Thoma Bravo to Divest Elemica
San Francisco – 2nd August 2019 – Private equity investment firm, Thoma Bravo, has entered into a definitive agreement to sell Elemica, a cloud-based digital supply network, to Eurazeo. The transaction is expected to close in the third quarter. The planned exit concludes a productive partnership between Thoma Bravo and Elemica. Since acquiring the company in 2016, Thoma Bravo has strengthened Elemica's value proposition, increased investment in the development and rollout of a next generation cloud-native platform, established Elemica's supplier quality assurance offering through the acquisition of EMNS, and accelerated SaaS bookings growth across North America and Europe. "Elemica has benefitted greatly from its partnership with Thoma Bravo," said John Blyzinskyj, CEO of Elemica. "Their operational expertise was critically important to the growth of our business and the expansion of our product offerings.  This in turn has helped our customers digitize their supply chains."

09 August 2019