Mergers & Acquisitions

Why Rubrik Is Buying Data Security Posture Management Leader Laminar

By Amit Chowdhry ● Aug 12, 2023

Zero Trust Data Security company Rubrik recently announced it has signed an agreement to acquire Laminar, a leading data security posture management (DSPM) platform.

Playtika Buying The Youda Games Portfolio From Azerion

By Amit Chowdhry ● Aug 9, 2023

Playtika Holding, a mobile games pioneer and interactive entertainment leader, and Azerion Group N.V., one of Europe’s largest digital advertising and entertainment media platforms, announced recently they have entered into a definitive agreement for Playtika to acquire from Azerion its Youda Games portfolio of games, including social card themed title Governor of Poker 3, for an initial cash consideration of EUR 81.3 million, with an earnout based on the performance of the acquired business that could take the total consideration up to a maximum of EUR 150 million, subject to customary adjustments.

Inspera Buying AI Authorship Detection Company Crossplag

By Amit Chowdhry ● Aug 9, 2023

Inspera - a leading provider of digital assessment solutions - recently announced the strategic acquisition of Crossplag, a powerful tool for originality checking and AI authorship detection. And Inspera's cloud-based assessment ecosystem offers a comprehensive suite of capabilities for seamless assessments, from planning and design to delivery and grading across various formats. The assessment types include formative, summative, and diagnostic exams, coursework, tests, quizzes, term papers, etc.

Campbell Buying Sovos Brands In $2.7 Billion Deal

By Amit Chowdhry ● Aug 8, 2023

Campbell Soup Company and Sovos Brands recently announced that the companies have entered into an agreement for Campbell to acquire Sovos Brands, Inc. for $23 per share in cash, representing a total enterprise value of approximately $2.7 billion. This deal represents a 14.6x adjusted EBITDA multiple, including expected annual run rate synergies of approximately $50 million. The strategic deal adds a high-growth, market-leading premium portfolio of brands to diversify and enhance Campbell’s Meals & Beverages division, providing a substantial runway for sustained profitable growth.

PacBio To Buy Apton Biosystems In Deal Up To $110 Million

By Annie Baker ● Aug 7, 2023

PacBio - a leading developer of high-quality and highly accurate sequencing solutions - recently announced that it has agreed to acquire Apton Biosystems, a company developing a high throughput short-read sequencer using state-of-the-art optics and image processing, paired with novel clustering and chemistry, that is designed to enable the sequencing of billions of clusters of DNA on one flow cell.

Sprout Social Acquires Tagger Media In $140 Million Deal

By Amit Chowdhry ● Aug 7, 2023

Sprout Social, an industry-leading social media management software provider, recently announced the acquisition of Tagger Media, a leading influencer marketing and social intelligence platform. This acquisition will further establish Sprout as the social media software market leader with a comprehensive platform that empowers brands to execute a holistic social strategy at scale.

Lionsgate And Hasbro Buying Independent Content Platform eOne In A $500 Million Deal

By Annie Baker ● Aug 6, 2023

Lionsgate (NYSE: LGF.A, LGF.B) and Hasbro (NASDAQ: HAS) recently announced that they have signed an agreement under which Lionsgate will acquire the independent content platform eOne in a transaction valued at approximately $500 million, comprised of cash of $375 million subject to additional purchase price adjustments, and the assumption of production financing loans. This agreement is subject to customary closing conditions.

New Relic Being Taken Private By Francisco Partners And TPG For $6.5 Billion: Details

By Amit Chowdhry ● Aug 5, 2023

New Relic (NYSE: NEWR) - an all-in-one observability platform for every engineer - recently announced that it has entered into a definitive agreement to be acquired by Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, and TPG, a leading global alternative asset management firm, for $87.00 per share in cash. The all-cash transaction values New Relic at an equity valuation of approximately $6.5 billion.

Rithm Capital To Buy Sculptor Capital Management For $639 Million

By Noah Long ● Jul 28, 2023

Rithm Capital (RITM), an asset manager focused on the real estate and financial services industries and Sculptor Capital Management Inc. (SCU), a global alternative asset manager with $34 billion in assets under management (AUM), recently announced entry into a definitive agreement under which Rithm will acquire Sculptor in a transaction valued at approximately $639 million, which includes $11.15 per Class A share of Sculptor.

H.I.G. Capital Buying RBmedia From KKR

By Annie Baker ● Jul 28, 2023

KKR and H.I.G. Capital announced that an affiliate of H.I.G. will acquire RBmedia and support its next phase of growth and development. RBmedia is the leading audiobook publisher in the world, with a robust digital distribution network that reaches millions of listeners around the globe.

Public Storage Acquiring Simply Self Storage For $2.2 Billion From Blackstone

By Amit Chowdhry ● Jul 25, 2023

Self-storage company Public Storage announced it entered a deal to acquire Simply Self Storage from Blackstone Real Estate Income Trust (BREIT) for $2.2 billion.

Kearney Buying Silicon Foundry For Expanding Strategic Transformation And Innovation

By Amit Chowdhry ● Jul 24, 2023

Kearney - a leading global management consulting firm - recently announced the acquisition of Silicon Foundry. And this acquisition represents the firm's commitment to helping C-suite executives truly transform their organizations by providing corporate executive leaders worldwide with access to the most cutting-edge new technologies, start-ups, and venture investors at the core of the innovation ecosystem.

KKR Buying Protective Materials Company Chase Corporation For $1.3 Billion

By Amit Chowdhry ● Jul 24, 2023

Chase Corporation (NYSE American: CCF) - a leading global manufacturer of protective materials for high-reliability applications across diverse market sectors - recently announced that it has entered into a definitive agreement to be acquired by an affiliate of investment funds managed by KKR, a leading global investment firm. This all-cash transaction is valued at approximately $1.3 billion, including the assumption of debt.

Scaleworks Buys Full Circle Insights And Names New CEO

By Amit Chowdhry ● Jul 20, 2023

Scaleworks - a B2B SaaS-focused venture equity firm - recently announced its acquisition of Full Circle Insights. It is known for helping companies drive pipeline growth through their marketing attribution and campaign measurement platform. And Scaleworks' investment and partnership will accelerate Full Circle's strategic roadmap, enable product innovation, and enhance go-to-market strategy.

Nava Benefits Buys Nielsen Benefits Group

By Amit Chowdhry ● Jul 17, 2023

Nava Benefits - a modern benefits brokerage focused on making great benefits easy for mid-sized employers - announced the acquisition of Nielsen Benefits Group (NBG), an award-winning benefits consulting firm with a proven track record of designing innovative benefits solutions that lower costs for mid-sized employers. This strategic move will unite two forward-thinking companies with a vision for how technology can revolutionize the benefits service delivery model for employers and improve the member experience.

Kahoot! To Go Private In About A $1.7 Billion Deal

By Amit Chowdhry ● Jul 16, 2023

Norway-based educational technology company Kahoot announced it agreed to a buyout valued at about $1.72 billion (17.2 billion Norweigian crowns) by Goldman Sachs Asset Management's private equity arm and a group of other investors. This deal is about a 53% premium to the company’s share price as of May 22.

Sampler Acquires AdMass To Expand Product Offerings

By Amit Chowdhry ● Jul 14, 2023

Sampler - a shopper promotions and insights platform - recently announced its acquisition of AdMass. This AI-powered SaaS platform enables brands and their agencies to create data-driven user-generated content promotions. And this marks Sampler’s second acquisition in just four months, following the successful completion of their acquisition of beauty digital sampling agency abeo in March 2023. The back-to-back deals are part of the company's strategic efforts to expand its product offering and accelerate growth.

GTCR Buying Majority Stake Of Worldpay At $18.5 Billion Valuation

By Amit Chowdhry ● Jul 8, 2023

FIS (NYSE: FIS), a leader in financial services technology, recently announced an acceleration of its previously announced separation plan to create 2 highly focused global companies with greater strategic flexibility. And FIS has signed a definitive agreement to sell a majority stake in its Worldpay Merchant Solutions business to private equity funds managed by GTCR in a transaction valuing Worldpay at $18.5 billion, including $1 billion of consideration contingent on the returns realized by GTCR exceeding certain thresholds.

DigitalOcean Buying Paperspace For $111 Million: Details

By Annie Baker ● Jul 8, 2023

DigitalOcean - the cloud for small and medium-sized businesses (SMBs) and startups - recently announced it has acquired Paperspace, a leading provider of cloud infrastructure as a service for highly scalable applications leveraging graphics processing units (GPUs).

Why Thomson Reuters Is Buying Casetext For $650 Million

By Annie Baker ● Jun 29, 2023

Thomson Reuters - a global content and technology company - recently announced it has signed a definitive agreement to acquire Casetext, a California-based provider of technology for legal professionals, for $650 million cash. The proposed transaction will complement Thomson Reuters’ existing AI roadmap and builds on its recent initiatives, including a commitment to invest over $100 million annually in AI capabilities, the development of new generative AI experiences across its product suite, and a new plugin with Microsoft and Microsoft 365 Copilot for legal professionals.

Why Socure Is Buying Berbix For About $70 Million

By Dan Anderson ● Jun 29, 2023

Socure - a leading provider of digital identity verification solutions - announced recently that it has acquired Berbix, a San Francisco-based startup that developed a high-accuracy document verification solution with a patent-pending forensics engine able to detect spoofed IDs – including AI-generated fakes – which are visually indistinguishable to the human eye. The approximately $70 million cash and stock transaction marks Socure's first acquisition.

Visa Buying Pismo For $1 Billion In Cash: Details

By Amit Chowdhry ● Jun 29, 2023

Visa recently announced it has signed a definitive agreement to acquire Pismo for $1 billion in cash. Pismo is a cloud-native issuer processing and core banking platform with operations in Latin America, Asia Pacific, and Europe.

Databricks Buying MosaicML In $1.3 Billion: Details

By Amit Chowdhry ● Jun 27, 2023

Databricks recently announced it has entered into a definitive agreement to acquire MosaicML, a leading generative AI platform. Combined, Databricks and MosaicML is looking to make generative AI accessible for every organization, enabling them to build, own and secure generative AI models with their own data. The deal is valued at approximately $1.3 billion, inclusive of retention packages.

ThoughtSpot Acquiring Mode Analytics For $200 Million: Details

By Amit Chowdhry ● Jun 26, 2023

ThoughtSpot - an AI-Powered Analytics company, today announced it has signed a definitive agreement to acquire Mode Analytics, which is a modern Business Intelligence (BI) platform that brings data teams and business teams together to drive impact - in a cash and equity deal valued at $200 million.

IBM Buying Apptio In $4.6 Billion Deal: Details

By Amit Chowdhry ● Jun 26, 2023

IBM announced that it has entered into a definitive agreement with Vista Equity Partners to buy Apptio, a leader in financial and operational IT management and optimization (FinOps) software, for $4.6 billion. The acquisition of Apptio is going to accelerate the advancement of IBM's IT automation capabilities and enable enterprise leaders to deliver enhanced business value across technology investments.

Fortis Buys SmartPay And Expands Into Canada

By Amit Chowdhry ● Jun 22, 2023

Fortis - a payment and commerce technology leader for software providers, marketplaces, and scaling businesses - announced that the company now offers its solutions in Canada, its first expansion outside the United States. And Fortis also announced the acquisition of embedded payments provider SmartPay and rolled out enhanced funding and settlement capabilities to meet rising demands from marketplaces and software platforms.

Cyara Is Buying CentraCX: Details

By Amit Chowdhry ● Jun 21, 2023

Cyara - a leading AI-led Customer Experience (CX) Transformation Platform provider - announced its acquisition of CentraCX, a comprehensive SaaS-based Voice of the Customer (VOC) solution, designed specifically for the contact center.

Nasdaq Buying Adenza From Thoma Bravo For $10.5 Billion

By Amit Chowdhry ● Jun 14, 2023

Nasdaq - a technology company serving the global financial system - announced recently it has entered into a definitive agreement to acquire Adenza, a provider of mission-critical risk management and regulatory software to the financial services industry, from Thoma Bravo for $10.5 billion in cash and shares of common stock.

MidOcean Partners Buying Food Ingredient, Animal Nutrition, And Plant Nutrition Company QualiTech

By Annie Baker ● Jun 13, 2023

MidOcean Partners - a New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments - announced that it has acquired QualiTech, a renowned, family-owned global manufacturer of plant nutrition, animal nutrition, and food ingredient products and services.

Centroid Systems Buying Systems Integrator EPM Intelligence: Details

By Annie Baker ● Jun 13, 2023

Centroid Systems - a top North American cloud service and technology company providing comprehensive transformation services that span the entire enterprise - announced the acquisition of EPM Intelligence, LLC, an innovative systems integrator renowned for its Oracle Cloud EPM expertise and innovative approaches to industry-specific challenges.