Cherry Tree & Associates | July 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/Data
  • Infrastructure
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 – July 2022
airSlate Acquires DocHub

airSlate, a global leader in document workflow and automation solutions, has acquired online PDF editor and document signing platform, DocHub.

Read more
www.yahoo.com
Huntress Acquires Curricula

Huntress, a managed security platform for small and mid-market businesses, has acquired Curricula, a fun, story-based security awareness training platform that empowers employees to better defend themselves against hackers.

Read more
www.globenewswire.com
Beanfield Acquires Urbanfibre

Beanfield, owner and operator of the largest independent fibre-optic network in Toronto and Montreal, has acquired Urbanfibre, a leading fibre provider operating in the Greater Vancouver Area.

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www.globenewswire.com
Accurate Background Acquires Vero Screening

Accurate Background, the largest privately held provider of compliant background checks, drug and health screening, and monitoring solutions, has acquired Vero, the UK’s largest independent employment screening provider.

Read more
www.businesswire.com
FMG Acquires Vestorly

FMG, a marketing technology company for financial advisors, has acquired Vestorly, a content management engine that applies artificial intelligence to curate personalized content for advisors to push out to their clients.

Read more
www.wealthmanagement.com
SPS Commerce Acquires GCommerce

SPS Commerce, Inc. has acquired GCommerce, a leading EDI provider within the automotive aftermarket industry.

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www.aftermarketnews.com
Human Security Will Merge with PerimeterX

Human Security, a bot mitigation and fraud detection platform for enterprises, is merging with PerimeterX, a company focused on safeguarding web apps from account takeover and automated fraud.

Read more
www.securitysystemsnews.com
Advent International Acquires NEORIS

Advent has acquired a 65% stake in NEORIS from CEMEX. As a global provider of tech consultancy and digital transformation services, NEORIS will strengthen its capabilities and reach through Advent’s expertise in the space.

Read more
www.businesswire.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.