Accenture to Acquire Nytec to Innovate Connected Experiences for Clients
New York and Kirkland, WA – 3rd October 2019 - Accenture has entered into an agreement to acquire Nytec Inc., an award-winning product innovation and engineering company. Founded in 1975, Nytec is headquartered in Kirkland, WA, and has a team of 250 professionals. The acquisition will add deep expertise in IoT engineering and software platform development to Accenture Industry X.0. Nytec will become part of Accenture Industry X.0, which offers capabilities that drive the digital reinvention of industry. This includes creating new types of products, services and experiences, and better ways to design, engineer, manufacture, operate and support them across their entire lifecycle.
Upland Software Announces Acquisition of InGenius
Austin, Texas - 1st October 2019 - Upland Software, Inc. a cloud-based enterprise work management software company, has acquired InGenius, a Computer Telephony Integration (CTI) solution for enterprise contact centers. With the addition of InGenius’ CTI platform, Upland can now offer the first Contact Center Productivity solution suite that provides a single pane of glass for all voice and CRM data, along with enterprise knowledge management and customer sentiment analysis solutions to drive improved contact center efficiency and customer experience. The acquisition adds approximately $9 million in annualized revenues and will be immediately accretive to Upland's Adjusted EBITDA per share. “With InGenius, Upland extends its leadership in Customer Experience Management (CXM) solutions and can now offer the first multi-channel, knowledge-driven contact center agent productivity solution suite that integrates leading CRM and contact center platforms enabling enterprises to offer a personalized, real-time customer experience,” said Jack McDonald, chairman and CEO of Upland Software. “Moreover, this transaction is immediately accretive to Adjusted EBITDA per share and takes Upland to a $237 million annualized revenue run rate and an $89 million annualized Adjusted EBITDA run rate,” he added.
Q2 Holdings Enters Definitive Agreement to Acquire PrecisionLender
Austin, Texas – 1st October 2019 - Q2 Holdings, Inc, provider of digital transformation solutions for banking and lending, has announced a definitive agreement to acquire Lender Performance Group LLC in a cash transaction valued at approximately $510 million, subject to certain closing conditions. Based in Charlotte, North Carolina, PrecisionLender is one of the fastest growing enterprise SaaS providers of data-driven sales enablement, pricing and portfolio management solutions for financial institutions (FIs) globally. PrecisionLender’s innovative data-driven platform is enhanced by Andi®, a digital enterprise coach powered by machine learning. PrecisionLender’s market-proven platform is used by approximately 150 banks globally to structure and negotiate commercial lending transactions, providing Andi with access to pricing and profitability data on millions of customer relationships and more than $1.7 trillion of transactions annually. With this unparalleled data, Andi® empowers bankers with actionable, real-time, data-driven insights and coaches commercial bankers to achieve better outcomes for their banks and their customers.
Tesla acquires DeepScale
CNBC reports Tesla is to acquire computer vision start-up, DeepScale in a quest to create truly driverless cars. DeepScale’s technology was designed to help automakers use low-wattage processors, which are standard in most cars, to power very accurate computer vision. These processors work with sensors, mapping, planning and control systems, to allow cars to make sense of what’s going on around them. DeepScale CEO, Forrest Iandola, has announced via his LinkedIn page that he has joined Tesla as a senior staff machine learning scientist, saying: “I joined the Tesla #Autopilot team this week. I am looking forward to working with some of the brightest minds in #deeplearning and #autonomousdriving.” Iandola has a PhD in electrical engineering and computer science from UC Berkeley, where he worked on deep neural nets that could work on mobile devices with relatively small amounts of memory.
Taboola & Outbrain to Merge to Create Meaningful Advertising Competitor to Facebook & Google
New York – 3rd October 2019 - Taboola and Outbrain, two digital advertising platforms, have announced that they have entered into an agreement to merge, subject to customary closing conditions. Both companies’ Boards of Directors have approved the transaction. The combined company will provide enhanced advertising efficacy and reach to marketers worldwide, while helping news organizations and other digital properties more effectively find growth in the years to come. “Over the past decade, I’ve admired Outbrain and the innovation that Yaron Galai, Ori Lahav and the rest of the Outbrain team have brought to the marketplace. By joining forces, we’ll be able to create a more robust competitor to Facebook and Google, giving advertisers a more meaningful choice,” said Adam Singolda, Founder & CEO of Taboola. According to eMarketer, almost 70% of total U.S. digital advertising revenue in 2019 is controlled by only three companies—Google, Facebook and Amazon. “We’re passionate about driving growth for our customers and supporting the open web, which we consider critical in a world where walled gardens are strong, and perhaps too strong. Working together, we will continue investing to better connect advertising dollars with local and national news organizations, strengthening journalism over the next decade. This is why we’re merging; this is our mission.”
Wipro completes acquisition of US-based ITI for US$45 million
Bangalore, India and Milford, Cincinnati, USA – 3rd October 2019 – Wipro Limited an information technology, consulting and business process services company, has announced it has now completed the acquisition of International TechneGroup Incorporated (ITI), a global digital engineering and manufacturing solutions company. ITI offers computer Aided Design (CAD) and Product Lifecycle Management (PLM) interoperability software services. Through its key solutions for Model Based Enterprise (MBE), data interoperability and data migration, ITI provides the building blocks for Industry 4.0, to help build ‘next generation’ digital enterprises. “As enterprises innovate and invest in ‘EngineeringNXT’, they are looking for ways to build a Digital Thread across design, engineering, and manufacturing. This acquisition complements Wipro’s core strengths in Industry 4.0 and allows us to offer end-to-end solutions in Digital Engineering and Manufacturing. We are pleased to welcome ITI’s employees and are confident that their unique offerings and solutions will add value to our organization,” said Harmeet Chauhan, Senior Vice President, Industrial & Engineering Services, Wipro Limited.
Apple Confirms it has bought UK visual effects company iKinema
Farnham, UK - 3rd October 2019 - Apple has acquired iKinema, a UK-based company that develops motion capture technology for use in a variety of contexts, including virtual reality and web animations. iKinema’s technology can be used to turn video footage of a person’s physical movements into animated characters. The acquisition indicates the tech giant has a growing interest in augmented reality and 3D animation and is planning to further develop the iPhone’s Animoji features. It is widely reported that regulatory filings in the UK reveal that iKinema has appointed Apple's international corporate lawyer Peter Denwood to its board of directors, a clear indication of acquisition.
Jaunt XR’s Technology Acquired by Verizon
San Mateo, California – 30th September 2019 - Jaunt XR has announced the acquisition of its software, technology and certain other assets by Verizon Communications Inc. for an undisclosed amount. Jaunt XR is a leader in the immersive industry with a focus on the scalable creation and distribution of volumetric video of humans. “We are thrilled with Verizon’s acquisition of Jaunt’s technology,” said Mitzi Reaugh, President & CEO of Jaunt XR. “The Jaunt team has built leading-edge software and we are excited for its next chapter with Verizon.” Jaunt will be assisting Verizon with the transition of select portions of the software and technology for a brief period of time.
CLPS Incorporation Further Expands Into Southeast Asia Market With Acquisition of RiDik
Shanghai – 27th September 2019 - CLPS Incorporation, an information technology consulting and solutions service provider, which focuses on the banking, insurance and financial sectors in China and globally, has announced that, through its subsidiary Qiner Co., Limited, it has acquired 80% of the equity of RiDik Pte. Ltd, a Singapore-based IT services company. Incorporated in 2010, RiDik provides professional IT services and solutions to various target market segments, from startups to large enterprises in Singapore and Malaysia. It serves clients across multiple industries, including telecommunications, finance, energy, and engineering. RiDik also explores cutting-edge technologies and undertakes client projects in the areas of mobile application, robotic process automation (RPA), business intelligence (BI), and business analytics.
Barings Provides Financing for Forterro’s Acquisition of abas Software AG
Karlsruhe, Germany - 24th September 2019 - Barings, one of the world’s leading financial services firms, has announced that it has served as mandated lead arranger and lead agent on an additional senior secured credit facility to support Forterro’s acquisition of abas Software AG, a Germany-based enterprise resource planning (ERP) software vendor for manufacturing companies worldwide. Forterro, a group of European specialized ERP software companies, is backed by Battery, a global, technology-focused investment firm. Financing terms were not disclosed. Headquartered in Germany, abas provides comprehensive and configurable ERP software and smart business process consulting to 4,000+ mid-market companies across 30 countries. The acquisition of abas represents the eighth European ERP software platform add-on for Forterro, with each portfolio company providing highly-integrated software solutions to a different set of SMEs across various sectors and regions.