Mergers & Acquisitions

Zuora To Buy Metering And Rating Solution Company Togai

By Amit Chowdhry ● May 7, 2024

Zuora, a leading monetization suite for modern business, announced its planned acquisition of metering and rating solution Togai, enhancing its usage-based offerings. And with Togai’s low-code builder and developer-friendly interface to configure metering and rating of raw events quickly, the acquisition will help Zuora unite developers and finance teams to launch, iterate and adapt usage-based models.

Rocket Software Completes $2.275 Billion Acquisition of OpenText’s Application Modernization And Connectivity Business

By Amit Chowdhry ● May 7, 2024

Rocket Software, a global technology leader in modernization software, announced the closing of the acquisition of the Application Modernization and Connectivity (AMC) business of OpenText (formerly part of Micro Focus). Rocket Software now offers customers modernization software solutions spanning the mainframe to the cloud. With a total purchase price of $2.275 billion (before taxes, fees, and other adjustments), the deal increases the company’s revenue by over 60% and expands its customer base to 12,500+ companies and network to 750+ partners worldwide.

ALLETE To Go Private In $6.2 Billion Deal

By Amit Chowdhry ● May 7, 2024

ALLETE - a leading energy company and provider of safe, reliable, and competitively priced energy with a national footprint - and a partnership led by Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP) announced that they have entered into a definitive agreement under which the partnership will acquire ALLETE for $67 per share in cash, or $6.2 billion including the assumption of debt.

SES Buying Intelsat In A $3.1 Billion Deal

By Amit Chowdhry ● May 7, 2024

SES S.A. and Intelsat S.A. announced an agreement for SES to buy Intelsat through the purchase of 100% of the equity of Intelsat Holdings S.a.r.l. for a cash consideration of $3.1 billion (€2.8 billion) and certain contingent value rights.

Shutterstock Buying Envato In $245 Million Deal

By Amit Chowdhry ● May 7, 2024

Shutterstock, a leading global creative platform that offers creative content for transformative brands, digital media and marketing companies, announced that it entered into a definitive agreement to acquire Envato Pty Ltd., a leader in digital creative assets and templates. Envato's flagship product Elements is an innovative subscription offering unlimited downloads of various assets, templates, etc.

MAI Capital Management Brings In $312 Million Harbor Wealth Management Team

By Amit Chowdhry ● May 7, 2024

MAI Capital Management, a registered investment adviser (RIA) specializing in comprehensive investment and financial planning for high-net-worth individuals and families, announced the acquisition of Harbor Wealth Management. The terms of the transaction were not disclosed.

EQT Buying Perficient In A Deal Valued At About $3 Billion

By Amit Chowdhry ● May 6, 2024

Global digital consultancy company Perficient announced that it has entered into a definitive agreement to be acquired by a BPEA Private Equity Fund VIII (EQT Asia) affiliate in an all-cash deal that will value Perficient at about $3 billion.

Brookfield Buying 51% Stake In Castlelake’s Fee-Related Earnings Business

By Amit Chowdhry ● May 6, 2024

Brookfield Asset Management and Castlelake L.P., an alternatives asset manager specializing in asset-based private credit, including aviation and specialty finance, announced that they have entered into an agreement in which Brookfield will buy a 51% stake in Castlelake’s fee-related earnings business. Brookfield will invest about $1.5 billion, including capital to be invested in Castlelake’s investment strategies by Brookfield Reinsurance. This partnership will enable Castlelake and Brookfield to collaborate and expand Castlelake’s differentiated asset-based investment business.

Synopsys To Sell Software Integrity Business To Clearlake And Francisco Partners In $2.1 Billion Deal

By Amit Chowdhry ● May 6, 2024

Synopsys announced it has entered into a definitive agreement with Clearlake Capital Group, L.P. and Francisco Partners to sell its Software Integrity Group business in a transaction valued at up to $2.1 billion. Up to $475 million in cash will be payable upon Francisco Partners and Clearlake hitting a specified rate of return in connection with one or more liquidity transactions. Upon the deal’s completion, the business will emerge as a newly independent application security testing software provider.

Epicor Buying Inventory Planning And Optimization Company Smart Software

By Amit Chowdhry ● May 5, 2024

Epicor, a leader of industry-specific enterprise software to promote business growth, announced it has acquired Smart Software, a leading provider of cloud-based and AI-driven inventory planning and optimization (IP&O) applications, and an existing Epicor ISV partner. The deal accelerates Epicor’s delivery of ERP solutions that offer practical application of AI across the spectrum of business operations for the make, move, and sell industries. The financial terms were not disclosed.

Conduent Selling Casualty Claims Solutions Operations To MedRisk For $240 Million

By Amit Chowdhry ● May 5, 2024

Conduent, a global technology-led business solutions and services company, agreed to sell its Casualty Claims Solutions business to MedRisk, the nation’s largest managed care organization dedicated to physically rehabilitating workers’ compensation patients. This sale was for $240 million in cash, subject to customary adjustments, and includes of Conduent’s workers’ compensation and auto casualty bill review solutions and services that include processing medical bills and clinical services and its portfolio of Strataware bill review software products.

Avantax Buys Integrated Tax & Wealth Strategies’ $760 Million Wealth Management Operations

By Amit Chowdhry ● May 5, 2024

Avantax, a leader in tax-focused financial planning and wealth management, announced it has acquired the wealth management business of Integrated Tax & Wealth Strategies. This independent wealth management firm is one of the largest businesses within the Avantax Community, with $760 million in total client assets as of December 31, 2023.

ButcherBox Buying Virtual Cook-Along Platform Company Truffle Shuffle

By Amit Chowdhry ● May 5, 2024

ButcherBox, a leading direct-to-consumer meat and seafood brand, announced the acquisition of Truffle Shuffle, a virtual cook-along experience platform. The deal aims to boost cooking confidence in consumers across the US and within the ButcherBox community, as the company embraces media and community as part of its strategy while continuing to serve the goal of transforming the meat industry.

Altair Buying Computational Fluid Dynamics Software Company Research In Flight

By Amit Chowdhry ● May 5, 2024

Altair, a leader in computational intelligence, announced it has acquired Research in Flight (maker of FlightStream) - which provides computational fluid dynamics (CFD) software with a large footprint in the aerospace and defense sector and a growing presence in marine, energy, turbomachinery, and automotive applications.

Guesty Acquires Vacation Rental Property Platform Rentals United

By Amit Chowdhry ● May 3, 2024

Guesty, a leading property management software platform for the short-term rental (STR) and hospitality industry, announced the acquisition of Rentals United, a cloud-based platform for distributing and promoting properties across multiple listing sites. This acquisition combines two sophisticated software providers in the STR space to create a solid offering that opens up new revenue opportunities for property managers.

Stored Energy Solutions Company EnerSys Acquiring Bren-Tronics For $208 Million

By Amit Chowdhry ● May 3, 2024

EnerSys, a global leader in stored energy solutions for industrial applications, announced it has entered into a definitive agreement to buy Bren-Tronics in an all-cash transaction of $208 million. This purchase price represents approximately 8.7 times Bren-Tronics’ adjusted EBITDA for the twelve months ending December 31, 2023.

LPL Brings In $860 Million Strategic Wealth Partners Team

By Amit Chowdhry ● May 3, 2024

LPL Financial announced that the advisors at Strategic Wealth Partners have joined LPL Financial’s broker-dealer, RIA and custodial platforms. This team reported serving about $860 million in advisory, brokerage and retirement plan assets and joins LPL from Lincoln Financial.

Wealth Enhancement Group Adds $502 Million Lynch Retirement Investment Team

By Amit Chowdhry ● May 2, 2024

Wealth Enhancement Group, a national independent wealth management firm with over $81.9 billion in client assets, announced that it has joined forces with Lynch Retirement Investment Group, a hybrid RIA located in Columbia, Maryland. The team of three financial advisors and three support team members, led by senior advisor John Lynch, manages over $502 million in client assets.

Deloitte Acquiring Biosecurity Company Gryphon Scientific

By Amit Chowdhry ● May 2, 2024

Deloitte announced it has acquired substantially all of the assets of Gryphon Scientific, a leader in biosafety, biosecurity, and all-hazards preparedness and response, with experience in using artificial intelligence (AI) to enhance security and safety.

LPL Brings In $415 Million Momentum Wealth Partners Team

By Amit Chowdhry ● May 1, 2024

LPL Financial announced that financial advisors Chris Mukoda, Brad Travis, Jr., CFP, and David Crouse joined LPL Financial’s broker-dealer, RIA, and custodial platforms by aligning with Momentum Wealth Partners, an existing firm supporting LPL-affiliated advisors. They reported serving about $415 million in advisory, brokerage, and retirement plan assets and joined LPL from PNC Investments.

Special Aerospace Services To Buy Willbrook Solutions

By Amit Chowdhry ● May 1, 2024

Godspeed Capital Management LP, a lower middle-market Defense and government services, solutions, and technology-focused private equity firm, announced the acquisition of Willbrook Solutions by SAS, its recently launched space engineering, defense, and communications technology solutions platform. The deal marks the first addition to the growing SAS platform, expanding its capabilities in the missile defense industry.

Medline Buying Surgical Solutions Business From Ecolab For $950 Million

By Amit Chowdhry ● May 1, 2024

Medline announced that it has entered into a definitive agreement to acquire Ecolab's global surgical solutions business, including the Microtek product lines. Once the deal is closed, the acquisition will provide Medline with innovative sterile drape solutions for surgeons, patients, operating room equipment, and Ecolab’s fluid temperature management system.

ONO Pharmaceutical Buying Deciphera Pharmaceuticals For $2.4 Billion

By Amit Chowdhry ● May 1, 2024

Deciphera Pharmaceuticals (a biopharmaceutical company focused on discovering, developing, and commercializing important new medicines to improve the lives of people with cancer) announced that it has entered into a definitive merger agreement with ONO Pharmaceutical. ONO will acquire all outstanding shares of Deciphera common stock for $25.60 per share in cash through a tender offer followed by a merger of Deciphera with a wholly-owned subsidiary of ONO for a total equity value of $2.4 billion. The boards of directors of both companies have unanimously approved the deal.

The Riverside Company And Co-Investors Buying The Townsend Group From Aon

By Amit Chowdhry ● Apr 30, 2024

The Riverside Company announced that its affiliate signed a definitive agreement to acquire The Townsend Group from Aon, a leading global professional services firm. A group of leading institutions are co-investing along with Riverside in the transaction, including Bluerock, MLC Private Equity and Ten Capital Management - which also acted as an advisor to Riverside in the transaction.

WindRose Health: Majority Growth Investment In Subjectwell Completed

By Amit Chowdhry ● Apr 30, 2024

WindRose Health Investors, a New York-based healthcare private equity firm, announced it has completed the acquisition of SubjectWell, the patient access marketplace that connects people with health conditions to care options. The terms of the deal were not disclosed.

Hologic Buying Endomagnetics For About $310 Million

By Amit Chowdhry ● Apr 30, 2024

Hologic, a global leader in women’s health, announced that it signed a definitive agreement to acquire Endomagnetics (Endomag), a privately held developer of breast cancer surgery technologies, for about $310 million, subject to working capital and other customary closing adjustments.

CASE Merging With CyberKinetics

By Amit Chowdhry ● Apr 30, 2024

CASE, a provider of high-end software development and cloud engineering services, announced that it has merged with CyberKinetics, a specialist provider of cloud-based services and cyber solutions to the national security community’s most discerning customers. Financial terms of the private transaction were not disclosed.

Lear Acquires WIP Industrial Automation To Enhance AI Capabilities

By Amit Chowdhry ● Apr 29, 2024

Lear Corporation, a global leader in auto technology in Seating and E-Systems, today announced that it has entered into a definitive agreement to buy WIP Industrial Automation, a privately held systems integrator based in Spain that specializes in advanced automation solutions for industrial applications.

Private Equity Firm Borgman Capital Acquiring Buck Bone Organics

By Amit Chowdhry ● Apr 29, 2024

Blackstone Buying Tropical Smoothie Cafe From Levine Leichtman Capital Partners

By Amit Chowdhry ● Apr 28, 2024

Blackstone announced this week that its private equity funds, managed by the firm, have entered into a definitive agreement to acquire Tropical Smoothie Cafe, a leading franchisor of fast-casual restaurants, from Levine Leichtman Capital Partners.