PE-backed SugarCRM acquires Salesfusion


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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SugarCRM, which is backed by Accel-KKR, has acquired Atlanta-based Salesfusion, a provider of marketing automation solutions. No financial terms were disclosed.

PRESS RELEASE

CUPERTINO, Calif. — May 16, 2019 — SugarCRM Inc.®, the company that helps organizations deliver exceptional customer experiences, announced today it has acquired Salesfusion, a leading provider of marketing automation solutions recognized in the Gartner Magic Quadrant for Lead Management.

Salesfusion is the second acquisition the company has made in less than three months. In March 2019, the company acquired Collabspot’s email integration products to enhance its email integration capabilities and take another step towards Sugar’s vision to deliver the most intuitive and collaborative user experience while eliminating data entry.

“These acquisitions combined with our new product innovations clearly demonstrate that Sugar is on a solid growth path and strategically evolving our business every day,” said Craig Charlton, CEO of SugarCRM. “This is just

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PE-backed By Light buys Metova Federal


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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By Light Professional IT Services LLC has acquired Cabot, Arkansas-based Metova Federal, a cyber range and cyber training services provider for the U.S. government. No financial terms were disclosed. By Light is backed by Sagewind Capital. 

PRESS RELEASE

ARLINGTON, Va., May 16, 2019 /PRNewswire/ — By Light Professional IT Services LLC (“By Light “) today announced the acquisition of Metova Federal, LLC, a leading cyber range and cyber training services provider to the US Government. With the addition of Metova Federal’s software, solutions and services, By Light is well positioned to help customers meet increasingly complex and ever-changing mission threats and requirements. Financial terms of the transaction were not disclosed.

For more than ten years, Metova Federal has been an innovative information technology solutions provider specializing in cyber products and services, training and software development. The company offers CyberCENTS, a cyber training, exercise and mission qualification

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SEP provides $56 mln to Criteria Corp


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Sumeru Equity Partners has invested $56 million in Criteria Corp, a SaaS based employment analytics platform. In addition to the funding, SEP Managing Directors Jason Babcoke and John Brennan and Vice President Kevin Cheng will join Criteria’s board of directors.

PRESS RELEASE

LOS ANGELES–(BUSINESS WIRE)–Criteria Corp, a market leading SaaS based employment analytics platform, today announced that Sumeru Equity Partners (SEP) has made a $56 million strategic investment to accelerate product innovation and growth. SEP Managing Directors Jason Babcoke and John Brennan and Vice President Kevin Cheng will join Criteria’s board of directors. This is the second investment out of Sumeru Equity Partners Fund III.

“Criteria’s offerings fundamentally shape the most critical element of any company or organization by using proven employment analytics to help identify, hire, and develop talent. As a result, the company has seen break-out growth and is quickly becoming a category leader”

“Criteria’s offerings fundamentally shape

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Osram says still in talks with Bain and Carlyle, shares spike: Reuters


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German lighting group Osram said on Thursday that talks with Bain and Carlyle were continuing, after a report said the private equity groups could bid 35 euros per share for the company.

“Talks are ongoing. Due diligence is not finished yet,” a company spokesman said.

Spokeswomen for Bain and Carlyle declined to comment.

German magazine Boerse Online reported that an offer price of 35 euros per share were at the lower end of current estimations, adding that Bain and Carlyle could make a takeover bid in the coming weeks.

Shares in Osram Licht rose 4.6% to 28.59 euros by 1403 GMT.

LNC Partners invests in Terra Dotta


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Chapel Hill, North Carolina-based LNC Partners has made an investment in Terra Dotta, a provider of higher education travel risk management, study abroad and international programs management solutions. No financial terms were disclosed.

PRESS RELEASE

CHAPEL HILL, N.C. (PRWEB) MAY 16, 2019

Terra Dotta, the trusted leader in higher education travel risk management, study abroad and international programs management solutions, today announced that it has received additional growth capital from LNC Partners, a northern Virginia-based private equity firm focused on partnering with high quality middle-market companies. The investment will be used to support Terra Dotta’s continued growth, including enhancing and expanding its award-winning solutions, pursuing new markets and acquisitions, and expanding its team.

“Since our first investment in Terra Dotta in 2015, the company has proven itself as the market leader in understanding and responding to the demands of its long-standing client institutions and, in turn, delivering innovative

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VC-backed UrbanSitter buys Sitter Inc


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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UrbanSitter has acquired Denver-based Sitter Inc, a creator of an app that helps parents to find, book and pay babysitters. No financial terms were disclosed. UrbanSitter’s backers include Advance Venture Partners, Canaan Partners, DBL Investors, First Round Capital, Match Group – a division of IAC, Menlo Ventures, Rustic Canyon, Aspect Ventures and A-Grade Investments.

PRESS RELEASE

SAN FRANCISCO–(BUSINESS WIRE)–UrbanSitter, an online and mobile service that enables parents and caregivers to connect through people they know, announces today that it has completed the acquisition of Denver-based startup Sitter Inc. Through the acquisition, UrbanSitter expands its umbrella of childcare services to include Sitter Pro, a B2B solution designed to address the operational needs of thousands of sitter and nanny agencies across the nation.

“We realize that families today have a wide range of childcare needs and preferences,” said Lynn Perkins, CEO and co-founder of UrbanSitter. “Our acquisition of the Sitter Pro product

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TodayTix raises $73 mln


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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TodayTix said May 16 it raised $73 million in funding led by Great Hill Partners. TodayTix, of New York, is an online platform that sells best-priced tickets to shows, arts and cultural entertainment in cities including New York City, London’s West End, Toronto, the San Francisco Bay Area.

PRESS RELEASE

TODAYTIX ANNOUNCES $73 MILLION GROWTH EQUITY INVESTMENT
LED BY GREAT HILL PARTNERS
Infusion of Capital To Further Propel Company Growth,
Continue Evolution Beyond Ticketing to Global Entertainment Media Platform
New York, NY (May 16, 2019) – TodayTix, the digital gateway to shows, arts and cultural experiences that has delivered continued triple-digit, year-over-year growth, today announced a $73 million growth equity investment led by leading growth oriented private equity firm Great Hill Partners. The investment brings total capital raised since its last public financing round to $90 million.
Founded in 2013, TodayTix quickly established itself as a disruptor within the theatrical

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VMware is buying Bitnami


This post is by Luisa Beltran from PE Hub Blog: PE-Backed Mergers and Acquisitions


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VMware said May 15 it was buying Bitnami. Financial terms weren’t announced. Bitnami, of San Franciso, provides application packaging solution. Bitnami raised $1.17 million in funding from Inventures Group and other investors in 2014, PitchBook said. Mike Krigbaum, Brandon Parris and Jim Ryan of Morrison & Foerster provided legal advice to VMWare. VMware is majority owned by Dell.

SymphonyAI Group buys Azima Global


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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SymphonyAI Group said May 15 that it acquired Azima Global. Financial terms weren’t announced. Azima provides machine condition monitoring and asset reliability solutions across several industrial verticals.

PRESS RELEASE
SymphonyAI Group Acquires Azima Global, a Leader in Machine Condition Monitoring & Reliability Solutions for the Process & Manufacturing Industries

The company, renamed Symphony AzimaAI, will expand into industry-pioneering integrated equipment & process monitoring solutions

LOS ALTOS, Calif., May 15, 2019 /PRNewswire/ — SymphonyAI Group announced today its recent acquisition of Azima Global, a provider of machine condition monitoring and asset reliability solutions across several industrial verticals. �

SymphonyAI is building a group of leading companies that use artificial intelligence to transform business enterprises across several markets, including the industrial, retail, consumer, healthcare, financial services, and media sectors.� At the core of this is SymphonyAI’s artificial intelligence platform, eurekaAI, which drives actionable insights by applying machine learning to large

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VC-backed Kahoot! buys children’s reading app Poio


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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Learning platform Kahoot! has acquired Oslo, Norway-based Poio, a reading app for children. No financial terms were disclosed. Kahoot!’s backers include Microsoft, Disney and Northzone.

PRESS RELEASE

Oslo, Norway, May 15, 2019 – Kahoot!, the global learning platform, today announced its acquisition of Poio, the acclaimed learn-to-read app for all children. In record time, Poio has created a unique community in Scandinavia, helping more than 100,000 children to learn to read through play. In June, Kahoot! and Poio will launch the English edition of Poio, and make it available to Kahoot!’s hundreds of millions of users world-wide.
Through the acquisition, Poio will become part of the Kahoot! learning experience, next to the DragonBox family of math apps and school curriculum.

“We’re impressed by how Poio has already helped more than 100,000 children in Scandinavia to learn how to read in an awesome way,” said Åsmund Furuseth,

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PEC Safety and Veriforce merge


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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PEC Safety, a portfolio company of Thoma Bravo and Veriforce, which is backed by Greenridge Investment Partners, have merged. The newly combined company will focus on reducing risk in hazardous work environments. No financial terms were disclosed. Colby Lane will serve as CEO while Louie Werderich will become vice chairman.

PRESS RELEASE

MANDEVILLE, LA. AND HOUSTON (PRWEB) MAY 15, 2019
PEC Safety and Veriforce, recognized leaders in delivering safety and compliance solutions to industrial markets, today announced that they have merged to create a new organization with a unified mission of reducing risk in hazardous work environments to help bring workers home safely each day. The combined company has the industry’s largest interconnected safety and compliance network comprised of 350 hiring clients, 25,000 contractor companies, 11,000 accredited safety trainers and authorized evaluators, 400 industry-standard training courses, and 1.5 million individual workers and will provide the most

™

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PE-backed Y-COM acquires General Utility Construction


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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Y-COM Holdings LLC, which is backed by Cotton Creek Capital, has acquired Orlando, Florida-based General Utility Construction, a provider of telecommunications maintenance and construction services. No financial terms were disclosed. Generational Equity advised GUCI on the deal.

PRESS RELEASE

DALLAS–(BUSINESS WIRE)–Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, General Utility Construction, Inc. (“GUCI”), to Y-COM Holdings, LLC, a portfolio company of Cotton Creek Capital. Founded in 2008, GUCI specializes in aerial and underground cable and fiber construction. The combination provides Y-COM with complementary service capabilities, increased scale, and a strengthened presence for customers throughout Florida.

“GUCI’s reputation for quality and customer service aligns with the standard Y-COM has set over our 40+ years of serving clients,” said Steve Young, President of Y-COM. “We welcome the GUCI team to the Y-COM family and believe the

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Artesyn Embedded Tech to sell embedded power unit to Advanced Energy


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Artesyn Embedded Technologies Inc,  a Platinum Equity portfolio company, has agreed to sell its embedded power business to Advanced Energy Industries Inc for about $400 million. Artesyn’s embedded power business supplies and makes power conversion products, including AC-DC power supplies, DC input devices and board mounted DC-DC modules.

PRESS RELEASE

Platinum Equity to Sell Artesyn’s Embedded Power Business to Advanced Energy

Partial Divestiture Separates Artesyn’s Embedded Power, Embedded Computing and Consumer Products Businesses

 

LOS ANGELES, May 15, 2019 (GLOBE NEWSWIRE) — Platinum Equity announced today the signing of a definitive agreement to sell the Embedded Power business of portfolio company Artesyn Embedded Technologies, Inc., to Advanced Energy Industries, Inc. (Nasdaq: AEIS), in a transaction valued at approximately $400 million. The transaction is expected to close during the second half of 2019, subject to regulatory approval and other customary closing conditions.

Artesyn Embedded Technologies has been a portfolio

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Kian Capital acquires Eastwood


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Kian Capital Partners has acquired The Eastwood Company, an ecommerce provider of aftermarket automotive tools and equipment. No financial terms were disclosed. Brown Gibbons Lang & Company was financial adviser to Eastwood on the deal.

PRESS RELEASE

CHICAGO, May 14, 2019 /PRNewswire/ — Brown Gibbons Lang & Company (BGL) is pleased to announce the acquisition of The Eastwood Company (Eastwood), by Kian Capital Partners. BGL’s Consumer Group served as the exclusive financial advisor to Eastwood in the process. The specific terms of the transaction were not disclosed.

The transaction builds upon BGL’s market leadership position in advising eCommerce and branded consumer products companies. Eastwood represents the third eCommerce transaction for BGL’s Consumer Group in the last eight months.

Eastwood, an independent, founder-owned company, is a leading eCommerce provider of aftermarket automotive tools and equipment. Home to the Eastwood™, Rockwood™, Maxx Power™, Fairmount Tools™, and Hot

™

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Corsica Technologies buys EDTS Cyber


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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Corsica Technologies has acquired EDTS Cyber, a provider of security services and sister company EDTS, an IT service provider. No financial terms were disclosed. Corsica Technologies was backed by Inverness Graham.

PRESS RELEASE

CENTREVILLE, Md., May 14, 2019 /PRNewswire/ — Corsica Technologies, a globally recognized leader in IT Services has recently acquired EDTS Cyber, a provider of security services, and their sister company EDTS, a leading IT Service Provider. This partnership brings together three world-class technology and cybersecurity companies that will operate under the Corsica Technologies platform.

With the addition of EDTS Cyber, an award-winning cybersecurity practice, Corsica Technologies will now offer 24x7x365 security monitoring, threat prevention, assessments, incident response, and consulting services. Corsica, a Maryland based company, will also increase their footprint with this acquisition to include 7 additional locations in the Southeast.

Dale Walls, CEO of Corsica, will continue as CEO for the combined entities.

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Cove Hill invests in NetDocuments


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Cove Hill Partners LP said May 14 that it invested in NetDocuments. Financial terms weren’t announced. NetDocuments, a Clearlake Capital Group portfolio company, provides a cloud-based content services platform for law firms and corporate legal and compliance departments.

PRESS RELEASE

Cove Hill Partners Makes Strategic Investment in NetDocuments

Cove Hill joins Clearlake Capital as a Partner in Accelerating Growth for
Leading Secure Cloud Platform

SALT LAKE CITY, UT, SANTA MONICA, CA, and BOSTON, MA – May 14, 2019NetDocuments, the leading secure cloud-based content services platform for law firms and corporate legal and compliance departments, today announced the closing of a significant new equity investment from Cove Hill Partners, L.P. (together with its affiliates, “Cove Hill’). Cove Hill joins Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) as a strategic investment partner to support the company’s rapid growth and innovation and becomes a minority shareholder in the Company.

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CITIC invests in Cityneon


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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CITIC Capital Holdings Ltd has invested in Cityneon Holdings. Financial terms or the size of CITIC’s stake weren’t announced. Cityneon partners with major movie and gaming studios globally to secure IPs to hold exclusive exhibitions to create iconic experiences for their audience.

PRESS RELEASE

SINGAPORE, May 14, 2019 /PRNewswire/ — Cityneon Holdings (“Cityneon”, the “Company” /collectively with its subsidiaries, the “Group”) is pleased to announce that CITIC Capital Holdings Limited (“CITIC Capital”) has reached an agreement for an investment in new shares of the Group on May 10 2019.
CITIC Capital is an affiliate of CITIC Group, one of China’s largest conglomerates. The leading asset manager has over US$25 billion of assets under management across 100 funds and investment products globally. Some of its landmark investments include McDonald’s franchisee business in mainland China and Hong Kong, and China’s largest privately-owned logistics service provider SF Express.
Cityneon Executive Chairman & Group

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Pegasystems buys VC-backed In The Chat Communications


This post is by Kirk Falconer from PE Hub Blog: PE-Backed Mergers and Acquisitions


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Pegasystems Inc (Nasdaq: PEGA) has acquired In The Chat Communications (ITC), a Waterloo-based digital messaging platform. Terms weren’t disclosed. Founded in 2010 by President and CEO John Huehn, ITC helps businesses more effectively find and engage with customers through social media. Pegasystems, a Cambridge, Massachusetts-based software company, said ITC’s platform will be integrated with its artificial intelligence-powered customer engagement solutions. ITC was a portfolio company of Canadian seed-stage investor MaRS Investment Accelerator Fund.

PRESS RELEASE

CAMBRIDGE, Mass., May 13, 2019 /CNW/ — Pegasystems Inc. (NASDAQ: PEGA), the software company empowering digital transformation at the world’s leading enterprises, today announced its acquisition of In The Chat (ITC), an enterprise-grade digital customer service platform provider that unifies text messaging, social media, live chat, email, messengers, and chatbots into a seamless conversation with customers.

ITC’s platform, which enables communications via virtually any digital channel, will be integrated with Pega’s AI-powered customer

™

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Sterling Partners’ EOF invests in Reading Plus


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Sterling Partners’ Education Opportunity Fund has made an investment in Vermont-based Reading Plus, a provider of literacy solutions for grades 3-12. No financial terms were disclosed.

PRESS RELEASE

CHICAGO–(BUSINESS WIRE)–Sterling Partners’ Education Opportunity Fund (EOF), a fund focused on partnering with purpose-driven companies and leaders who foster innovation within the education sector, announced today its investment in Reading Plus®, an adaptive literacy intervention and practice tool for grades 3-12.

The partnership with EOF will enable Reading Plus to expand its best-in-class customer success operations, explore technology enhancements, and further develop sales and marketing functions. This partnership is EOF’s sixth platform investment in its most recent fund.

Company founder and CEO Mark Taylor developed the product with guidance from a team of leading reading researchers. The Reading Plus assessment and instructional model improve reading comprehension, reading efficiency, as well as student motivation for reading. It is the first—and only—program to

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Mill Point-backed Avenue acquires Windward and GRIDS


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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Avenu Insights & Analytics, which is backed by Mill Point Capital, has acquired the operations and assets of The Windward Group and GRIDS Information Technologies. No financial terms were disclosed. Windward is a provider of  document imaging and enterprise content management solutions while GRIDS is a provider of government record management software. Both companies are based in Louisiana.

PRESS RELEASE

CENTREVILLE, Va.–(BUSINESS WIRE)–Avenu Insights & Analytics (Avenu), a Mill Point Capital portfolio company, has acquired the operations and assets of The Windward Group and GRIDS Information Technologies. With the Windward and GRIDS software, document digitization and storage capabilities, Avenu reinforces its commitment to supporting government customers with records management solutions.

Over several decades, Louisiana-based Windward has built a business based on helping judicial systems and other organizations obtain, organize, store and deliver critical information. GRIDS has been a leader in providing conveyance records software to Louisiana court

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