Cherry Tree & Associates | February 2023 |
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Cherry Tree has been tracking trends and activity in the Technology Enabled Business Services (TEBS) space for nearly 20 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:
- SaaS/Software
- Business Process Services
- Information/Data
- Infrastructure
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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 a research report which are available for download: |
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Cherry Tree has nearly 20 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 – FEBRUARY 2023 |
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Bessemer Venture Partners Acquires Litify
Litify, the best-in-class end-to-end legal operating platform, has been acquired by Bessemer Venture Partners as it achieves profitability and continues its next phase of growth.
Read more
www.lawnext.com
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Descartes Systems Group Acquires GroundCloud
Descartes Systems Group has acquired GroundCloud, a provider of solutions for final-mile logistics. GroundCloud focuses on serving transportation providers, logistics service providers, and distribution-intensive companies.
Read more
betakit.com
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MCI BPO Acquires OceanX
MCI BPO, a tech-enabled outsourcing company, has acquired OceanX, a contact center and brand reputation management services provider with a network of reputable customers across the globe.
Read more
news.outsourceaccelerator.com
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Cox Communications Acquires Logicworks
Cox Communications has acquired Logicworks, a professional and managed cloud services company which helps customers migrate, run, and operate mission critical workloads on AWS and Azure with security, scalability, and efficiency baked-in.
Read more
www.wspa.com
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Francisco Partners Acquires Sumo Logic
Francisco Partners has acquired SaaS analytics platform Sumo Logic which enables clients to implement reliable and secure cloud applications in a deal that values the business at $1.7B.
Read more
fintech.global
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QUODD Acquires Xignite
QUODD, a comprehensive market data-on-demand provider for the global financial services industry, has acquired Xignite, a leading global provider of financial market data APIs.
Read more
finovate.com
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Netlify Acquires Gatsby
Web development platform Netlify has acquired its competitor Gatsby, the company behind the opensource GatsbyJS framework.
Read more
thenewstack.io
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Ventra Health Acquires Deras Global
Ventra Health, a provider of revenue cycle management (RCM), practice management, and advisory services for hospital-based physician specialties, has acquired Deras Global Services, a provider of RCM services for hospital-based physician specialties.
Read more
money.yahoo.com
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TEBS 100 INDEX PERFORMANCE AND METRICS |
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For a confidential conversation about your company's strategic alternatives for exiting, merging, acquiring, or obtaining financing, please contact Mik Gusenius or Scott Brown. |
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Mik Gusenius
Managing Director
Phone: 952.253.6005
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Scott Brown
Senior Executive Director
Phone: 952.253.6017
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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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