Cherry Tree & Associates | October 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:

  • 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 – October 2020
Endurance to be Acquired by Clearlake Capital Group for $3B

Endurance, the company that operates web hosting brands such as Bluehost, HostGator, Domain.com and others, has agreed to be acquired by Clearlake Capital Group. The transaction is valued at approximately $3.0 billion.

Read more
hostingjournalist.com
BlackLine Acquires Rimilia

BlackLine, the account automation software firm, has acquired Rimilia, the AI-based cloud platform, in order to expand its capabilities into AR automation. The acquisition will further move towards BlackLine's goal of modernizing accounting.

Read more
www.pymnts.com
ZoomInfo Acquires Clickagy

B2B database ZoomInfo has acquired digital marketing intelligence provider Clickagy to enhance its go-to-market intelligence platform and improve users' ability to engage prospects and target accounts.

Read more
www.demandgenreport.com
Datasite Enters Agreement to be Acquired by CapVest

Datasite has entered into an agreement to be acquired by funds managed by CapVest Partners LLP, an international private equity firm. Headquartered in Minneapolis, Datasite is a leading SaaS provider for the mergers & acquisitions industry.

Read more
www.newsbreak.com
Tibco Acquires Information Builders

Information Builder Inc., the privately-held business intelligence vendor, has been acquired by Tibco Software. The purchase of the data pioneer gives Tibco another set of data management and analytics tools.

Read more
www.datanami.com
Atos to Acquire Eagle Creek

Atos has reached an agreement to acquire Minnesota-based Eagle Creek Software Services, a technology and management consulting company specialized in Salesforce enterprise implementations for its customers across North America.

Read more
www.hstoday.us
Avtex Acquires Aria Solutions

Avtex, a customer experience consulting and technology company, announced its acquisition of Aria Solutions, a provider of contact center and customer experience solutions based in Calgary, Alberta, Canada.

Read more
itbusinesstoday.com
FactSet Acquiring Truvalue Labs

FactSet Research Systems, a financial data and analytics company, is acquiring Truvalue Labs, an ESG data provider. Truvalue Labs applies AI-driven technology to more than 19,000 companies to generate ESG scores on positive and negative ESG behavior.

Read more
www.pionline.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, 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.