Boss Insights - M&A Round Up for the Software Tech Sector - July 2017

24 July 2017

Infogix Buys Data Clairvoyance – a Data Strategy Consultancy
Naperville, IL – July 18, 2017 – Infogix, Inc., a data and analytics software provider, has announced it has acquired Data Clairvoyance, a data strategy consultancy, which helps organizations adopt new approaches and methodologies to maximize the value of their data.  Its deep experience and proven frameworks will further support Infogix as a complete “one-stop” provider of solutions for all big data needs, from management to implementation. Terms of the transaction were not disclosed. As organizations encounter more data than ever before, they seek a better way to interact with, and protect the integrity of, their data to enable them to achieve their corporate and financial goals. Data Clairvoyance has created a proprietary and innovative way to rapidly explore the tribal and tacit knowledge from the organization’s data community, and use that knowledge to create a dynamic data strategy to optimize and leverage an organization’s data supply chain. “Data Clairvoyance brings exciting new capabilities and broadens our ability to provide a complete end-to-end big data solution that will allow our customers to fully maximize the value of their data,” said Sumit Nijhawan, CEO and president of Infogix. http://www.infogix.com/press-releases/infogix-buys-data-clairvoyance-leading-data-strategy-consultancy/

Cisco acquires network security startup Observable Networks
13th July 2017 - Cisco has made another acquisition in the enterprise security space — underscoring the ongoing market demand for security services amid a growing threat of cyber breaches and malicious hacking among businesses that are moving to cloud-based infrastructures. The IT giant has announced it has acquired Observable Networks, a company based in St. Louis that provides real-time network behavior monitoring to help IT teams detect anomalies that might be related to security breaches, focusing particularly on cloud deployments. Terms of the deal have not been disclosed. Observable was founded in 2011, by Patrick Crowley (now its CTO), and has raised less than $5 million from investors over the ensuing years. Cisco said Observable’s cloud-native forensics applications,  priced in tiers, using a SaaS model, based on the size of your business and the number of endpoints secured, will become a part of its Stealthwatch solution, which is part of the company’s Security Business Group, led by David Ulevitch, who joined Cisco when the company acquired his own security startup, OpenDNS, in 2015 for $635 million. https://newsroom.cisco.com/

EQT VII acquires health technology company Certara for USD 850 million
Princeton, NJ and New York, NY, July 11, 2017 – The EQT VII fund (“EQT VII”) has announced that it has agreed to acquire Certara, a provider of technology-driven, decision support solutions for drug development, for an enterprise value of USD 850 million. The Company is being acquired from Arsenal Capital Partners. As part of the transaction, Arsenal Capital Partners will retain a minority ownership stake in Certara, with the Company’s current management team, led by Edmundo Muniz, MD, PhD, continuing to lead the organization, building on a multi-year track record of both organic growth and strategic acquisitions. Certara’s solutions help inform the drug development and regulatory approval process and address the key efficacy, safety, productivity and commercial challenges facing the biopharma industry. The Company serves 1,200 commercial companies, 250 academic institutions and numerous regulatory agencies, across 60 countries. Certara is headquartered in Princeton, New Jersey with over 500 employees globally, including key operations and senior management in Northern Europe. http://www.eqt.se/news/Press-Releases/2017/eqt-vii-acquires-health-technology-company-certara-for-usd-850-million/

T2 Systems Buys ParkingSoft
Indianapolis, IN, July 17, 2017 — T2 Systems, a provider of the industry’s most comprehensive suite of parking solutions, has announced it has acquired ParkingSoft., a provider of cloud-based software enabled PARCS (Parking Access Revenue Control Systems), valet and events products with state-of-the-art features such as barcode and LPR.  Based in Atlanta, ParkingSoft brought to market the first software as a service (SaaS) barcode-only PARCS system, which greatly enhances a parking owner's ability to monitor, manage and maintain their PARCS equipment - resulting in lower operating effort with industry-leading flexibility via open APIs. ParkingSoft has a wide array of customers in the airport, off-airport, healthcare, commercial/mixed use, municipal, university and transit sectors. These products support a full range of parking garage operations, from a single location to a full enterprise operation. This acquisition expands T2's product offerings by adding a PARCS solution that can stand alone or integrate with the T2 UNIFI parking management platform. http://www.t2systems.com/about-us/press-news/t2-systems-buys-parkingsoft

Google acquires Bengaluru-based AI Start-Up Halli Labs
July 12th 2017 - Halli, which means 'village' in Kannada, announced the news in a blog, which was later conformed by Google. "Welcome @Pankaj and the team at @halli_labs to Google. Looking forward to building some cool stuff together," tweeted Google's Vice President, Product Managment, Caesar Sengupta. Founded by Pankaj Gupta, the start-up is focused on building deep learning and machine learning systems. "We are thrilled to share the news that the Halli Labs team is joining Google," the firm said in a blog post."Halli Labs was founded with the goal of applying modern AI and ML techniques to old problems and domains in order to help technology enable people to do whatever it is that they want to do, easier and better," the post added. https://medium.com/@halli_labs/halli-labs-is-joining-google-feeada989cd9

Ephesoft Secures $15M Series A Funding from Mercato Partners
Laguna Hills, CA  - July 11, 2017 - Ephesoft Inc, a developer of document capture and analytics solutions that extract meaning from unstructured content, has announced that it has completed a $15 million Series A financing round. Mercato Partners, a trusted growth capital partner, is the exclusive investor in this round. The investment will be used to accelerate Ephesoft’s product development while expanding operations, market presence and sales channels. Joe Kaiser of Mercato Partners will join the Ephesoft Board of Directors as part of the investment.  “Organizations are struggling with the enormous volume of unstructured content, which represents upwards of 80% of all available content, and is growing at a rate of 43% per year. To provide tangible value, that information needs to be processed and analyzed. Ephesoft’s solutions are disrupting the advanced capture market with a definitive value proposition: apply machine learning to convert these unstructured information streams and repositories into actionable data,” said Kaiser. http://www.ephesoft.com/ephesoft-secures-15m-series-funding-mercato-partners

Graphcore to collect $30 million in latest funding round
Bristol, UK – Graphcore have announced their Series B $30 million funding round and are being backed by some eminent AI pioneers. Namelty, Demis Hassabis (DeepMind), Greg Brockman (OpenAI), Ilya Sutskever (OpenAI), Pieter Abbeel (UC Berkeley/OpenAI), Scott Gray (OpenAI) and Zoubin Ghahramani (University of Cambridge, Chief Scientist at Uber).  Graphcore have been working closely with innovators in machine learning research to hone development of their Intelligence Processing Unit (IPU), a completely new kind of processor, designed specifically for machine intelligence, since they founded Graphcore three years ago. Additionally, they will continue to enjoy the full support and investment of all their existing strategic and VC investors: Bosch, Dell, Samsung, Amadeus, C4 Ventures, Draper Esprit, Foundation Capital and Pitango. Said Graphcore CEO, Nigel Toon, “We have been inundated with offers for additional funding from leading financial and strategic investors over the last year. However, Atomico has demonstrated a genuinely deep understanding of the machine intelligence market and how it will evolve over the coming years.” https://cdn2.hubspot.net/hubfs/729091/assets/Graphcore%20Series%20B%20release%20200717%20FINAL.pdf?t=1500901787058

TIBCO Bolsters Microservices Leadership with nanoscale.io Acquisition
Palo Alto, California - 06 July, 2017 - TIBCO Software Inc., an integration, API management, and analytics company, has announced it has acquired nanoscale.io a provider of innovative microservices technology and tooling. The acquisition extends and enhances TIBCO’s leadership in the development of microservices and APIs that connect and integrate the enterprise, and bolster its Connected Intelligence platform offerings. "The next generation of digital experiences are going to be powered by microservices architecture, which will create significant challenges and complexities for developers,” said Rajeev Kozhikkattuthodi, Vice President of Product and Strategy, TIBCO. “We’re continuing to expand our strong roots and expertise in Connected Intelligence and API Management with technologies like nanoscale.io’s next-generation application tooling for microservices. These solutions keep our customers on the leading edge of digital transformation initiatives and enable us to provide breakthrough capabilities for developers in this space.” https://www.tibco.com/press-releases/2017/tibco-bolsters-microservices-leadership-nanoscaleio-acquisition

Equiniti Group plc acquires Nostrum Group
Thu 06 Jul 2017 - Equiniti Group plc, the FTSE listed FinTech and regulatory services business, has announced the acquisition of the Nostrum Group Limited. Nostrum is a fast growing, award winning provider of end-to-end loan management technology that helps banks, finance companies and retail brands provide innovative credit solutions to their customers.  They deliver services that support the whole lifecycle of lenders’ operations from front-end lead generation and application processing through to customer servicing. The acquisition strengthens Equiniti’s position in the lending sector and consolidates the strategy of providing technology enabled loan and mortgage solutions to meet the requirements of this fast-moving market place, building on the technology platforms of Pancredit and the loan, mortgage and insurance servicing permissions of Equiniti Gateway. The lending sector is experiencing unprecedented change as consumers demand greater digital engagement from their finance providers.  Equiniti’s capabilities are now united under the Equiniti Credit Services brand which will accelerate product development to meet this growing market opportunity. https://equiniti.com/news-and-views/news-releases/equiniti-group-plc-acquires-nostrum-group/

SEI Expands Its Footprint in Family Office Services Arena With Acquisition of Archway Technology Partners
OAKS, Pa., July 5, 2017 – SEI has announced it has acquired Archway Technology Partners, LLC, a provider of operating technologies and services to the family office industry and the institutions who service that market. “This announcement represents a modest shift in SEI’s long-held belief in purely organic growth. We believe there is value in growing through carefully considered strategic acquisitions that add to our expanding geographic footprint, market reach, platform functionality and expertise,” said Alfred P. West, Jr., Chairman and CEO of SEI. “Steve Meyer, Executive Vice President of SEI and Head of SEI’s Investment Manager Services division, said, “Archway’s specialized technologies and deep knowledge of the private wealth services industry give us a more powerful, differentiated solution to a $7 trillion global family-office market that has been underserved by legacy service providers,” “SEI’s operating solutions, enhanced by Archway’s capabilities, will help family offices, institutions, wealth managers, and asset owners better navigate this new operational frontier and service their clients more effectively.” http://www.seic.com/enUK/about/18721.htm

Square 9® and ecoprintQ Announce New Strategic Alliance in Latin America
NEW HAVEN, CONN., June 30, 2017 – Square 9® Softworks, developers of enterprise content management (ECM) solutions, has announced its partnership with ecoprintQ, a document output management and a certified PaperCut Authorized Solution Center, servicing North and South America. With this partnership, ecoprintQ will expand their solutions portfolio to include document capture automation, business process management (BPM) and ECM, helping their customers to further optimize paper-based processes. With a track record of consistent double-digit year-over-year growth, Square 9 looks to leverage the relationship to accelerate international expansion efforts and continue its strong pattern of growth. “We are very excited and proud to have ecoprintQ representing our solutions,” said Square 9 Senior Vice President, Michael Frattini. “When we evaluate strategic partnerships, we look for organizations that are leaders in their space and represent an opportunity for significant mutual benefit. We have certainly found both with ecoprintQ.” https://www.square-9.com/press-releases/square-9-ecoprintq-announce-new-strategic-alliance-latin-america/