Software Tech M&A and Other News - December 2017

19 December 2017



Boss Insights – News – December 2017

American Family Insurance invests in advanced analytics and AI through acquisition of Networked Insights
Chicago and Madison, Wisconsin – December 14th 2017 - With their purchase of Chicago-based data and analytics software company, Networked Insights, American Family Insurance will accelerate its digital transformation, including its use of data, advanced analytics and artificial intelligence (AI). “We have significantly invested in our technology platforms and data and analytics in the past three years,” said American Family Chairman and CEO Jack Salzwedel. American Family already is investing in AI and related technology across the organization – including through its Data Science and Analytics Lab, its Strategic Data Analytics Division, Innovation team and collaborative data-science projects with UW-Madison. http://newsroom.amfam.com/american-family-insurance-invests-in-advanced-analytics-and-ai-through-acquisition-of-networked-insights

Sydney HR software vendor ELMO acquires SaaS payroll company Sky Payroll 
Talent management software vendor, ELMO has acquired cloud-based SaaS payroll software system Sky Payroll for up to $1.8 million; Chief Executive and founder, Roger Graham, will now ELMO’s management team. ELMO Chief Executive, Danny Lessem, said, “We are delighted to welcome Roger Graham and his team to ELMO at this exciting time as we execute our accelerated growth strategy.” Lessem also added that the acquisition aligns with ELMO’s growth strategy, supplementing growth with acquisitions that facilitate the expansion of its existing integrated product suite to a larger customer base. Through the acquisition, ELMO hopes to leverage new opportunities due to the Australian Tax Office’s (ATO) introduction of mandatory, single touch payroll reporting (STPR), requiring companies to have a compliant payroll solution by 1 July 2018. https://www.crn.com.au/news/sydney-hr-software-vendor-elmo-acquires-saas-payroll-company-sky-payroll-479622

Iron Mountain to Acquire Io Data Centers U.S. Operations for Approximately $1.3 Billion
RESTON, VA – 11th December 2017 -  Iron Mountain Incorporated® the storage and information management services organisation, has announced it has entered into a definitive agreement to acquire the U.S. operations of IO Data Centers LLC, a colocation data center services provider, based in Phoenix, Arizona, for $1.315 billion plus up to $60 million, based on future performance and subject to customary adjustments. With the transaction, Iron Mountain will acquire the land and buildings associated with four state-of-the-art data centers in Phoenix and Scottsdale, Arizona; Edison, New Jersey; and Columbus, Ohio. “ We continue to experience strong demand and growth in our data center business, with a focus on establishing a presence in the largest global markets for colocation and enterprise customers.  Our strategy includes organic expansion within our existing footprint, greenfield development in the largest U.S. markets such as our newly opened campus in Northern Virginia, and targeted acquisitions of properties with customer profiles that closely mirror our own,” said Iron Mountain President and CEO, William L. Meaney. http://www.ironmountain.com/about-us/news-events/news-categories/press-releases/2017/december/iron-mountain-to-acquire-io-data-centers-u-s-operations

Google to Open Beijing AI Center in Latest Expansion in China
13th Dec 2017 - Google seeks to compete in artificial intelligence, one of technology’s most competitive fields. The company said it will announce the opening of a new Beijing research facility on Wednesday 20th December, during its second annual developers conference in Shanghai. The Google AI China Center will have a small group of researchers, supported by several hundred China-based engineers. Since 2010, Google has been re-building its presence in China, where it defied the government by refusing to self-censor search content and later had most of its services blocked. The Chinese government has now made AI a national priority, with policy makers announcing plans to develop an industry generating 400 billion yuan ($60 billion) of annual output by 2025 and to become world leader in the science by 2030.

Qualfon Acquires Dialog Direct
December 8, 2017 - Qualfon, a business process outsourcing (BPO) and contact center service provider, has announced that it has acquired Dialog Direct, a BPO company that provides lead generation, sales, and customer support services to more than 100 clients in the automotive, retail, financial services, healthcare and consumer packaged goods industries. Dialog Direct has more than 3,500 employees with ten locations in the United States and one location in Costa Rica. It also has an @home operation across the United States. With this sizable acquisition, Qualfon now has approximately 16,500 employees in 28 locations; 20 in the United States, 3 in the Philippines, 3 in Guyana, 1 in Mexico, and 1 in Costa Rica. It maintains a strong financial position enabling, Qualfon to continue to invest in future growth. http://www.qualfon.com/blog/2017/12/08/qualfon-acquires-dialog-direct/

Adobe Delivers Record Revenue of $2 Billion in Q4
Thursday, December 14, 2017 4:05 pm EST - San Jose, California - Adobe has reported financial results for its fourth quarter and fiscal year 2017 ended Dec. 1, 2017. In its fourth quarter of fiscal year 2017, Adobe achieved quarterly revenue of $2.01 billion, which represents 25 percent year-over-year growth. It also achieved annual revenue of $7.30 billion, which also represents 25 percent year-over-year growth. "Adobe delivered record revenue of $2 billion in Q4," said Shantanu Narayen, President and CEO, Adobe. "Our strong business momentum is driven by the market-leading solutions we provide to empower people to create and businesses to digitally transform.” Mark Garrett, Executive Vice President and CFO, Adobe, also commented, “Adobe achieved record annual and quarterly revenue, and the leverage in our business model once again drove record profit and earnings. We are raising our fiscal 2018 revenue target and remain bullish about delivering strong top line and bottom line growth.” http://news.adobe.com/press-release/corporate/adobe-delivers-record-revenue-2-billion-q4

Ephesoft Founder, CTO and Intelligent Document Capture Pioneer, Ike Kavas, Named CEO
Laguna Hills, Calif. – Dec. 6, 2017 – Ephesoft, Inc., a company specialising in document capture and analytics solutions, has announced that Ike Kavas, Ephesoft, Founder and Chief Technology Officer, will become Chief Executive Officer, replacing retiring CEO, Don Field, effective December 15. With machine learning pioneer Kavas leading the company, Ephesoft will expand its mission and transformation of the document capture industry by turning the world’s unstructured content into actionable data for compliance, security, research, marketing and efficiency. “In less than seven years, we have transformed an under-innovated industry through machine learning and artificial intelligence technologies to deliver the most advanced, web-based, SaaS platform that enables a broad range of industries to not only capture but also extract vital intelligence from previously unstructured and idled content,” said Kavas. https://www.ephesoft.com/press/ephesoft-founder-cto-intelligent-document-capture-pioneer-ike-kavas-named-ceo/

Accenture to Acquire Irish Creative Agency Rothco
Dublin - December 14, 2017 – Accenture has entered into an agreement to acquire Rothco, a full-service creative agency. Located in Dublin, Rothco will boost Accenture Ireland’s creative capabilities and those of Accenture Interactive as an experience agency in Europe. The acquisition is subject to regulatory approval by the relevant authorities and other customary closing conditions. Financial terms of the transaction were not disclosed. Rothco is an international award-winning creative agency. It strategically plans, designs and produces powerful communications campaigns across Europe for iconic brands. Founded in 1995, Rothco now consists of more than 150 strategic, creative, technology, design, project management and production professionals. https://newsroom.accenture.com/news/accenture-to-acquire-irish-creative-agency-rothco.htm

Accenture to Acquire Irish Creative Agency Rothco
Dublin - December 14, 2017 – Accenture has entered into an agreement to acquire Rothco, a full-service creative agency. Located in Dublin, Rothco will boost Accenture Ireland’s creative capabilities and those of Accenture Interactive as an experience agency in Europe. The acquisition is subject to regulatory approval by the relevant authorities and other customary closing conditions. Financial terms of the transaction were not disclosed. Rothco is an international award-winning creative agency. It strategically plans, designs and produces powerful communications campaigns across Europe for iconic brands. Founded in 1995, Rothco now consists of more than 150 strategic, creative, technology, design, project management and production professionals. https://newsroom.accenture.com/news/accenture-to-acquire-irish-creative-agency-rothco.htm

TIBCO and Change Healthcare Partner to Accelerate Healthcare Transformation
Palo Alto, California - 11 December 2017 - TIBCO Software Inc., an integration, API management and analytics provider, and Change Healthcare, one of the largest independent healthcare technology companies in the United States, have announced a relationship aimed at helping providers, payers and pharmacies better use their health IT data to improve efficiency and effectively manage complex workflows. By integrating the TIBCO® Connected Intelligence portfolio with Change Healthcare's broad portfolio of software and analytics, network solutions, and technology-enabled services, the companies will innovate new solutions for translating data into actionable insights based on business needs. "Through our partnership with TIBCO, we can innovate new capabilities that turn data into meaningful information for decision-making," said Alex Choy, Chief Information Officer and Executive Vice President, Research & Development, Change Healthcare. "We're excited about the opportunities to leverage our respective strengths in data, analytics and network connectivity to help organizations navigate the complex transition to a value-based healthcare system." https://www.tibco.com/press-releases/2017/tibco-and-change-healthcare-partner-accelerate-healthcare-transformation

Swedish Start Up, iZettle secures €40 million to accelerate growth
iZettle, a small business commerce platform in Europe and Latin America, has announced it has raised €40 million in funding to accelerate its growth strategy and product innovation. The round is led by early backer venture capital firm Dawn and The Fourth Swedish National Pension Fund and is supported by existing investors. iZettle gives small businesses the digital tools they need to gain the competitive edge against big corporations, which is crucial in today’s technology driven market place. The company is a true disruptor and we are delighted to be co-leading the round in one of Europe’s signature fintech businesses, as it continues its expansion drive.” says Josh Bell, General Partner at Dawn. “We invest heavily in companies contributing to sustainable economic growth and are impressed by how iZettle has levelled the playing field for small businesses...” says Per Colleen, Head of Fundamental Equities at The Fourth Swedish National Pension Fund. http://izettle-press-int.tumblr.com/post/168495418846/izettle-secures-40-million-to-accelerate-growth

OpenText Expands Operations in India
Waterloo, ON – 4th December 2017 - OpenText™, an Enterprise Information Management (EIM) company, has announced that it seeks to grow its employee base in India, hiring computer and software engineers in both Hyderabad and Bengaluru. OpenText has also announced the opening of a new 140,000 square foot office in Bengaluru. With offices in Hyderabad, Bengaluru, Pune, Delhi, and Mumbai, OpenText has a total workforce in excess of 2,200 employees in India, working on next generation technology across Information Management, Business Networks, IOT, Security, and AI. OpenText supports a range of customers including six of India’s largest life science companies, leading banking and financial services organizations, global manufacturers, as well as telecom, utilities, and government and Public Sector organizations. With a decade of experience, OpenText’s India workforce are skilled software engineers and professional services experts, working on core product innovations across OpenText’s EIM portfolio. “India is hugely important to OpenText and core to the operations and success of our global business,” said Mark J. Barrenechea, vice chairman, CEO and CTO, OpenText. https://www.opentext.com/who-we-are/press-releases?id=00260708938C40519CF074939294EE50

Fortlock Group Acquires Comsmart
Auckland, New Zealand, 28 November 2017 – Fortlock Group has announced the acquisition of Wellington-based technology services company Comsmart, as part of its strategy to broaden its range of business services and solutions. Patrick Shields, owner and Executive Chairman of Fortlock Group, says that the acquisition adds further momentum to the growth of the group, expanding its market reach and strengthening its professional IT and converged security solutions capabilities. Established in 2007, Comsmart delivers business solutions across a wide range of technologies, working with clients from the conceptual development stage right through to the on-going maintenance of business systems. The Comsmart acquisition sees the Fortlock Group expand to more than 200 staff in three locations across New Zealand. “Comsmart’s solutions and capabilities fit squarely within Fortlock’s strategic plan in respect of the products and services that we want to be able to provide to our customers. This acquisition provides Fortlock with the perfect opportunity to move into IP / network design and integration services, while expanding our cyber security offerings, collaboration technologies and cloud storage offerings,” said Shields. https://www.fortlock.co.nz/media/fortlock-group-acquires-comsmart/