KKR Acquires BMC Software Deal Financials Transaction Overview On May 29, 2018, private equity firm KKR announced its acquisition of BMC Software, a provider of IT Operations and Service Management, outbidding fellow private equity firm Thoma Bravo. While IPO markets have opened up in recent months with software companies like Zuora and DocuSign going public,…
Adobe Acquires Magento Deal Financials Transaction Overview On May 21, 2018, Adobe announced its acquisition of Magento, a former private equity-backed B2C e-commerce software provider. The transaction signifies Adobe’s expansion outside of its successful digital media offering and into e-commerce. This concludes Adobe’s multi-year hunt for an e-commerce platform – Adobe was rumored to have…
Rackspace Acquires RelationEdge Deal Financials Transaction Overview On May 17, 2018, Rackspace announced its acquisition of RelationEdge, a Salesforce Platinum Consulting Partner and digital marketing agency. The transaction builds on Rackspace’s multi-cloud managed services capabilities, which has been the company’s strategic focus since its de-listing from the NYSE in 2016. RelationEdge Reaches a Rapid Exit…
Salesforce.com Acquires MuleSoft Deal Financials Transaction Overview On March 20, 2018, leading CRM software-as-a-service provider Salesforce.com announced its acquisition of MuleSoft, a provider of an application integration software platform. MuleSoft is Salesforce’s largest acquisition in its company history, with an enterprise value of $6.6 billion and a 36% premium over MuleSoft’s closing share price on…
CACI International Bids on CSRA Deal Financials Transaction Overview On March 18, 2018, U.S. government-focused IT services provider CACI International announced an offer to acquire CSRA, in an attempt to outbid General Dynamics’ $9.7 billion offer outlined in our earlier Spotlight. CACI’s bid consists of $15 per share in cash and 0.184 shares of common…
Bullhorn Acquires Talent Rover and Jobscience Deal Financials Transaction Overview On March 13, 2018, staffing software provider Bullhorn announced that it has acquired two Force.com-native staffing and recruiting software platforms, Talent Rover and Jobscience. These transactions follow Bullhorn’s acquisition of Force.com-native Connexys BV, a Dutch applicant tracking software provider, in September 2017. A Case Study…
General Dynamics Acquires CSRA Deal Financials Enterprise Value ($m): 9,705.1 EV / LTM Revenue: 1.9x EV / LTM EBITDA: 11.5x Transaction Overview On Feb 12, 2018, global aerospace and defense giant General Dynamics announced its acquisition of CSRA, a leading government IT business providing next-generation technology solutions to federal customers. With this transaction, General Dynamics…
Capgemini Acquires LiquidHub Deal Financials Enterprise Value (est. $m): ~$495m EV / Revenue (est. 2017): ~2.0x Transaction Overview On February 5, 2018, Capgemini announced its acquisition of LiquidHub, a digital customer engagement firm. The acquisition accelerates Capgemini’s geographic expansion into the US and demonstrates the company’s continued commitment to its strategy of executing tuck-in acquisitions…
SAP Acquires CallidusCloud Deal Financials Enterprise Value ($m): 2,394.3 Enterprise Value / LTM Revenue: 10.0x Transaction Overview On Jan 29, 2018, German enterprise software giant SAP announced its acquisition of CallidusCloud, a provider of cloud-based Sales Performance Management (SPM), Configure Price Quote (CPQ), and Contract Lifecycle Management (CLM) software. The transaction marks SAP’s expansion into…
Magnitude Software Acquires Innowera Deal Financials Undisclosed Transaction Overview On Dec 20, 2017 Audax-backed Magnitude Software, a provider of data analytics software, announced its acquisition of Innowera, a SAP data management solutions provider. Magnitude is consolidating the space for data analytics through a bold and focused M&A strategy outlined here. Magnitude has now acquired four…
Oracle Acquires Aconex for AU$1.6b Deal Financials Transaction Size: AU$1,641.2m Enterprise Value: AU$1,609.9m EV/LTM Revenue: 10.0x Transaction Overview On Nov 27, 2017 Vantive Australia Pty Ltd, a subsidiary of Oracle, entered into a definitive agreement to acquire Aconex Ltd (ASX:ACX) for approximately AU$1.6b; Aconex stockholders will receive AU$7.8/share of Aconex common stock; this represents a…
At the recent DreamForce `17, my team at True Blue Partners (TBP) met with nearly 30 founder / CEOs and Corporate Development professionals. In preparation, we had compiled initial data on valuations, investments and M&A trends in the Salesforce eco-system.
Microsoft can become a bigger threat to Salesforce than Oracle At True Blue Partners (TBP) we have been investigating this hypothesis and our recent attendance at Microsoft Nashville Summit 2017 has furthered our conviction. The headlines have been grabbed by Microsoft’s Azure cloud offering, its recent acquisition of LinkedIn and its potential impact on CRM…
Temasek Invests in BluJay Solutions Deal Financials Post-money EV: approx. $700m Transaction Overview On September 25, 2017, BluJay Solutions announced that it has received a minority equity investment from Temasek Holdings for an undisclosed amount. BluJay, formerly known as Kewill, is a portfolio company of Francisco Partners, a technology-focused private equity firm that took the…
WiseTech Global (ASX:WTC) Acquires Cargoguide and CargoSphere Deal Financials Cargoguide EV: $5.5m CargoSphere EV: $9.2m WiseTech Global EV/Rev: 15.1x Transaction Overview On September 12, 2017 WiseTech Global Ltd acquired Cargoguide International B.V. and Planet Traders, Inc. d/b/a CargoSphere. Both companies provide freight shipping rate management software, but the Netherlands-based Cargoguide is focused on air freight,…
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