Cherry Tree & Associates | August 2021
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 – August 2021
GrocerKey Acquired by Point Pickup Technologies for $42M

Point Pickup Technologies, a last-mile delivery service, has acquired white-label e-commerce platform GrocerKey for $42 million. With the acquisition, Point Pickup now allows retailers to offer same-day delivery under their own brand name.

Read more
techcrunch.com
Paysafe Agrees to Acquire SafetyPay for $441M

Specialized payments platform Paysafe signed a definitive agreement to acquire Latin American digital payment platform SafetyPay for $441 million in cash. SafetyPay enables eCommerce transactions at over 180,000 cash collection points.

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www.pymnts.com
Moody's Agrees to Acquire Risk Management Solutions for $2B

Moody's Corp. has agreed to acquire Risk Management Solutions, a global provider of climate and natural disaster risk modeling and analytics, for approximately $2.0 billion from Britain's Daily Mail and General Trust.

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www.insurancejournal.com
Cisco Agrees to Acquire Epsagon for $500M

Cisco announced that it's acquiring Israeli applications-monitoring startup Epsagon at a price pegged at $500 million. The purchase gives Cisco a more modern microservices-focused component for its growing applications-monitoring portfolio.

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techcrunch.com
Periscope Equity Makes Platform Investment in CyberMaxx

Periscope Equity, a lower middle-market private equity firm focused on investments in technology-enabled business services, announced today that it has invested in CyberMaxx, LLC through a recapitalization in partnership with management.

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news.yahoo.com
Robinhood Agrees to Acquire Say Technologies for $140M

Robinhood announced that it has signed an agreement to acquire investment communication platform Say Technologies for about $140 million as an all-cash deal. Say's technology helps to eliminate barriers to entry for financial system participants.

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www.pymnts.com
Equifax Agrees to Acquire Appriss Insights for $1.8B

Equifax announced it has entered into a definitive agreement to acquire Appriss Insights, a source of risk and criminal justice intelligence, for $1.8 billion. The transaction expands Equifax's Workforce Solutions verification capabilities.

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www.investorsobserver.com
Comcast Agrees to Acquire Masergy Communications

Comcast Business inked a deal to acquire cloud and software-defined networking company Masergy Communications for an undisclosed sum, seeking to strengthen its ability to serve large enterprises with a global footprint.

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www.fiercetelecom.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.