Cherry Tree & Associates | December 2020
Cherry Tree has been tracking trends and activity in the Technology Enabled Business Services (TEBS) space for more than 15 years, including the TEBS 100, which is a broad index of 100 publicly-traded TEBS companies.
The four segments of the TEBS 100 are:

  • SaaS/Software
  • Business Process Services
  • Information Services
  • Infrastructure Services
Each issue of this newsletter highlights transactions involving TEBS companies, as well as performance metrics for the TEBS 100. Cherry Tree also produces quarterly TEBS updates and a research report which are available for download:
Cherry Tree has more than 15 years of experience working with businesses in the TEBS space. Our clients include companies seeking to sell their businesses or divest non-core assets, as well as strategic and financial buyers looking to make acquisitions.

Contact Mik Gusenius at mgusenius@cherrytree.com with any questions.
NOTABLE TRANSACTIONS – December 2020
Thoma Bravo to Acquire RealPage for $10.2B

Private Equity firm Thoma Bravo announced it is acquiring RealPage for $10.2B. In RealPage, Thoma Bravo is getting a full-service property management platform with a variety of services for building and property owners.

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techcrunch.com
Platinum Equity to Acquire Ingram Micro Global for $7.2B

Ingram Micro’s global business is set to be acquired for $7.2B by Platinum Equity. Ingram Micro’s global operations generated over $47B in revenue in 2019. With operations in 60 countries, the company serves more than 250,000 customers.

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eminetra.co.nz
Thoma Bravo Announces Investment in Venafi

Thoma Bravo, a private equity investment firm, announced a strategic growth investment in Venafi, the Salt Lake City-based cybersecurity pioneer and inventor of machine identity protection.

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www.techbuzz.news
Bloomberg Announces Acquisition of Second Measure

Bloomberg announced that it has completed its acquisition of the startup, Second Measure. Second Measure is a consumer data analytics company that helps investors and businesses gain insight into company performance and consumer behavior.

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www.techzine.eu
SPS Commerce Acquires Data Masons for $100M

SPS Commerce announced the acquisition of Data Masons for $100M in cash. Data Masons streamlines Electronic Data Interchange by providing tight integration and compliance management services.

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www.tipranks.com
ManTech Acquires Tapestry Technologies

ManTech International Corporation has completed the acquisition of Tapestry Technologies, a leading provider of advanced cyber solutions. This acquisition enhances and extends ManTech’s cyber defense capabilities within the Department of Defense.

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aithority.com
New Relic Acquires Pixie Labs

Kubernetes observability platform Pixie Labs announced its acquisition by New Relic, the publicly traded monitoring and observability platform. The Pixie Labs brand and product will remain in place and allow New Relic to extend its platform.

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techcrunch.com
Phone2Action Acquires Know Who

Know Who has been acquired by Phone2Action, which helps organizations mobilize citizens through smartphones. Know Who has a 15-year history and operates the world’s largest and most up-to-date public servant and policymaker directory.

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eminetra.com
TEBS 100 INDEX PERFORMANCE
TEBS 100 INDEX METRICS

For a confidential conversation about your company's strategic alternatives for exiting, merging, acquiring, or obtaining financing, please contact Mik Gusenius.

Prepared by:
Mik Gusenius, Managing Director

Phone: 952.253.6005


Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis. Our firm specializes in serving middle market companies and their owners, whether private, public, or divisions of larger corporations.
Important Disclosures

The information included in this publication has been obtained from public sources, and is not based upon private or confidential Cherry Tree information. Cherry Tree gathers its data from sources it considers reliable. However, it does not guarantee the accuracy or completeness of the information provided within this publication. Any opinions presented reflect the current judgment of the authors and are subject to change. Cherry Tree makes no warranties, expressed or implied, regarding the accuracy of this information or any opinions expressed by the authors. Officers, directors, partners of Cherry Tree and Cherry Tree proprietary investment funds may have positions in the securities of the companies discussed, and certain affiliates of Cherry Tree may recommend to specific clients the purchase and sale of securities discussed in the publication. This publication does not constitute a recommendation with respect to the securities of any company discussed herein, and it should not be construed as such. Cherry Tree or its affiliates may from time to time provide investment banking or related services to these companies. Like all Cherry Tree employees, the authors of this publication receive compensation that is affected by overall firm profitability. We undertake no obligation to update any information in this publication.

The TEBS Performance Index is a hypothetical index, and does not reflect an actual investment portfolio. Comparisons between the TEBS Index and other indices are for illustrative purposes only. Correlations in performance information for the TEBS Performance Index and other indices should not be relied upon as indicative of risks involved in owning or holding a portfolio of securities similar to the TEBS Performance Services Index. Past performance should not be relied upon as indicative of future performance.