Cherry Tree & Associates | November 2018
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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.
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The four segments of the TEBS 100 are:
- Software
- Business Process Services
- Information Services
- Infrastructure Services
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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 an annual research report which are available for download:
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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.
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NOTABLE TRANSACTIONS – November 2018
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Athenahealth to be acquired for $5.7B by Veritas Capital
Athenahealth is set to be acquired by Veritas Capital and Evergreen Coast Capital for $5.7 billion. Together, Veritas and Evergreen, the private equity subsidiary of Elliott Management, the hedge fund that has actively urged athenahealth to sell...
Read more
www.healthcareitnews.com
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Autodesk to Buy Construction Startup PlanGrid for $875M
Autodesk said it plans to buy the construction software startup PlanGrid for $875 million.
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fortune.com
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Paychex to Acquire PEO Firm Oasis
Paychex, Inc. has announced that it will acquire Oasis Outsourcing Acquisition Corporation ("Oasis"), the nation's largest privately owned professional employer organization (PEO) and an industry leader in providing human resources outsourcing...
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www.cpapracticeadvisor.com
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Vista Equity Partners Acquiring Apptio
Vista Equity Partners is acquiring Apptio for $1.94 billion, the private equity firm and cloud-based IT management software provider have confirmed. At $38 per share, the purchase price represents a 53 percent premium to Friday's closing price of ...
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www.channele2e.com
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SAP SE to Acquire Qualtrics International Inc.
SAP SE (NYSE: SAP) and Qualtrics International Inc. (Qualtrics) announced they have entered into a definitive agreement under which SAP SE intends to acquire Qualtrics, the global pioneer of...
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news.sap.com
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Veracode sold to Thoma Bravo for $950 million
Thoma Bravo announced on Monday that it is purchasing application security testing company Veracode from Broadcom for $950 million in cash. Based in Burlington, ...
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www.cyberscoop.com
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Inuvo to be Acquired by ConversionPoint Technologies
Inuvo, Inc., a provider of artificial intelligence (AI) technology for brands and agencies, today announced that it has entered into a definitive agreement to be acquired by ConversionPoint Technologies, Inc., a privately held eCommerce...
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amppob.com
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ConvergeOne to Be Acquired by CVC
ConvergeOne Holdings, Inc. (Nasdaq: CVON), a global IT and managed services provider of collaboration and technology solutions, has entered into a definitive agreement to be acquired by affiliates of CVC Fund VII in an all-cash transaction valued ...
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www.finsmes.com
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TEBS 100 INDEX PERFORMANCE
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For a confidential conversation about your company's strategic alternatives for exiting, merging, acquiring, or obtaining venture financing, please contact Mik Gusenius.
Prepared by:
Mik Gusenius, Director
Phone: 952.253.6005
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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.
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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.
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