Cherry Tree & Associates | May 2022
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 – May 2022
Broadcom to Acquire VMware

Broadcom Inc., a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions will Acquire VMware, Inc. a leading innovator in enterprise software for approximately $61 billion.

Read more
techcrunch.com
Concentrix Corp. to Acquire ServiceSource International

Concentrix Corporation, a leading global provider of customer experience services and technologies, will acquire ServiceSource International, a global outsourced go-to-market services provider.

Read more
www.businesswire.com
ZoomInfo Acquires Comparably

ZoomInfo, a global leader in modern go-to-market software, data, and intelligence, has acquired Comparably, a leading recruitment marketing and employer branding platform, to enable companies to proactively attract and engage top talent.

Read more
www.businesswire.com
DigitalBridge to Acquire Switch

DigitalBridge Group Inc, a global digital infrastructure investment firm, will acquire data center operator Switch Inc. for $11 billion. Switch is among the last remaining major data center operators listed on U.S. stock exchanges.

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www.reuters.com
Amdocs to Acquire Mycom OSI

Amdocs, a leading provider of software and services to communications and media companies, will acquire MYCOM OSI, a UK-based company providing SaaS-based cloud network and service assurance solutions to communications service providers globally.

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www.fiercewireless.com
The Carlyle Group to Acquire ManTech

Private equity firm The Carlyle Group has agreed to acquire ManTech, a Herndon, VA-based IT consultancy focusing on the intelligence community, Pentagon, and federal civilian agencies, in an all-cash deal valued at $4.2 billion.

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www.consulting.us
ICE to Acquire Black Knight

New York Stock Exchange-parent Intercontinental Exchange will acquire Black Knight, a provider of software, data and analytics to the real estate and housing finance markets, for $13.1 billion.

Read more
www.reuters.com
SS&C Technologies Acquires MineralWare

SS&C Technologies Holdings, Inc. has acquired MineralWare, a cloud-based asset management platform which focuses on managing minerals, royalties and non-operated working interests.

Read more
fortworthreport.org
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.