Market Pay, the European and omni-channel payment platform, today announces the acquisition of Dejamobile, a French fintech leader in mobile and connected equipment payment solutions.
Dejamobile becomes a subsidiary of Market Pay
Dejamobile develops digital transaction software solutions targeting the payment, transport and retail industries. Its white-labelled solutions are marketed globally to merchants, banks, fintechs and merchant service providers. Certified according to market standards, Dejamobile solutions enable them to offer innovative and certified digital payment solutions based on the latest technologies (NFC, HCE, Token, QR Code).
Market Pay and Dejamobile have already successfully partnered pre acquisition by developing PayWishâ, an innovative service for mobile purchasing experiences through a contactless payment application on Android smartphones and tablets.
This investment allows Market Pay to onboard integrate a leading, mobile transaction technology offering with substantial adoption potential, to further strengthen Market Pay’s international footprint in the payments industry.
Dejamobile’s market leading expertise in both digital and contactless payments complements the full range of in-store and e-commerce payment services already offered by Market Pay. The Dejamobile team, made up of developers and engineers, will support and strengthen Market Pay’s R&D teams.
This deal is the second acquisition for Market Pay this month, following the acquisition of the Acoustic Payment platform. These developments represent part of an ambitious growth plan for Market Pay following AnaCap’s acquisition of a majority stake in April 2021.
Houssem Assadi, CEO and co-founder of Dejamobile, commented:
“Dejamobile’s founders and employees are excited to join Market Pay to build a leading fintech on an international scale. The range of innovative solutions developed by Dejamobile since 2012, as well as its ecosystem of customers and partners, provides Market Pay with new assets in its ambitious development project. The synergy created by the integration of Dejamobile within Market Pay will accelerate Market Pay’s rate of development and will benefit all our customers and partners.”
Frédéric Mazurier, CEO of Market Pay, commented:
“Dejamobile is a strategic acquisition for Market Pay. It strengthens our technological expertise as well as our strategic positioning in our various markets while also accelerating the ability to expand Market Pay’s international footprint. The Dejamobile team, which has already developed innovative solutions partnering with us, will become core to Market Pay’s R&D processes on all mobile payment related activities. Following the Acoustic Payment investment, this additional acquisition further demonstrates our desire to rapidly grow the business and internationalise.”
The recent merger of Xperi, Serac and Asecom is further expanded with INSynQ. Together the four companies form the largest SAP partner for the mid market in the Benelux. With the addition of INSynQ, the group has a leading position in each of the software vendor’s three pillars: SAP S/4HANA, SAP Business ByDesign and SAP Business One. Investor Mentha Capital helps the successful SAP partners realize accelerated growth in Western Europe and enter new markets.
The joining of forces of the four companies is in line with developments in the market and the SAP landscape. The digitization of SMEs requires pragmatic partners that can offer a broad range of solutions and services. The new combination responds to this like no other. In recent years all companies have been awarded multiple times by SAP for their expertise, performance and growth. The new umbrella company name will be announced later this year.
Peter Ouëndag, managing director of INSynQ: “We’re very pleased to join this strong group of companies. There are major similarities in the culture, the people-oriented nature of the company and the strategy. I’m convinced that as a joint organization we can offer a successful future to our employees and serve existing and future customers even better with a strong portfolio.”
More than 200 SAP specialists
The merger of Xperi, Serac, Asecom and INSynQ increases capabilities in the SAP ecosystem and ensures that customers can continue to be supported throughout their whole lifecycle, regardless of the company size or preference for a cloud, managed or hybrid solution. With the inclusion of INSynC the company can respond even better to the growth in the SAP S/4 HANA and SAP Business byDesign domains. The new merged company consists of more than 200 SAP specialists with expertise in various ERP solutions and related applications.
Peter Geelen, managing director of Xperi: “INSynQ is a company we’ve been working with successfully for some time. The open and people-oriented culture fits very well with our working method. The specialist knowledge of the more than 50 consultants of INSynQ in the various areas of SAP S/4 and SAP ByDesign is a great addition and enables us to optimally serve our customers in the middle segment. With this we have realized three mature pillars for the three ERP lines of SAP, so we’re always able to offer our customers the best solution for the best price.”
Fort Worth, TX, New York, NY, and Chicago, IL, October 1, 2021 – Simpli.fi, a leader in programmatic advertising and agency management software, announced today that private equity funds managed by Blackstone (NYSE:BX) (“Blackstone”) have completed the previously announced significant equity investment in the company. Blackstone joins existing investor GTCR, a leading private equity firm, as majority shareholders in the company. The investment, made through Blackstone’s flagship private equity vehicle, values the company at approximately $1.5 billion.
Simpli.fi’s full suite of mission critical workflow and ad buying software enables agencies and media groups to manage their core operations more efficiently, and to execute high ROI omni-channel ad campaigns. Each month, the company’s innovative programmatic advertising platform powers over 120,000 CTV, mobile, and other digital campaigns for 30,000 active advertisers.
“We are thrilled to embark upon this next chapter for Simpli.fi as we welcome Blackstone as a new partner,” said Frost Prioleau, Co-Founder and CEO of Simpli.fi. “Working alongside Blackstone and GTCR, we look forward to driving further product innovation and expansion of our platform, both organically and through our targeted acquisition strategy, in order to better serve the needs of advertising agencies and media buying organizations.”
“As local media spend increasingly moves from linear to digital channels, we are excited to partner with management and GTCR to build upon Simpli.fi’s market leadership in this space,” said Sachin Bavishi, a Managing Director at Blackstone. “We look forward to investing behind Simpli.fi’s rapid growth trajectory as it continues to innovate and serve customers through superior technology and customer service.”
Craig Bondy, a Managing Director at GTCR, and Stephen Master, a Principal at GTCR, added: “Blackstone shares our vision and strong belief in Simpli.fi’s growth potential and, importantly, brings complementary expertise and valuable resources to bear. We look forward to working together to support the company’s continued expansion.”
Evercore, LUMA Partners, and Canaccord Genuity served as financial advisors, and Kirkland & Ellis LLP served as legal advisor to Simpli.fi and GTCR. Simpson Thacher & Bartlett LLP served as legal advisor to Blackstone.
About Simpli.fi Simpli.fi is a leading provider of workflow software and programmatic advertising solutions, serving over 1,400 agencies, advertisers, and media buying organizations. Our solutions enable our customers to perform more effectively and efficiently, and to maximize ROI on their advertising spend across CTV, mobile, display, and other media types. Our platform delivers performance on budgets of all sizes, executing over 120,000 campaigns for 30,000 advertisers in a typical month. For more information please visit our website at www.simpli.fi
About Blackstone Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $684 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About GTCR Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Growth Business Services, Technology, Media & Telecommunications, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $20 billion in over 250 companies. For more information, please visit www.gtcr.com.
MELBOURNE, Australia–(BUSINESS WIRE)– Quadrant Private Equity, Five V Capital, Rodney Kagan andothershareholders of Probe CX (“Probe” or the “Company”) today announced they have entered into an agreement under which KKR will acquire a majority stake in Probe alongside existing management. The investment will be used to further fuel Probe’s robust growth and strengthen its digital capabilities to enhance its service offering to customers.
Probe is a leading provider of customer experience (“CX”) and business process outsourcing (“BPO”) solutions based in Australia. Probe was founded by Co-chairman Rodney Kagan in 1979 and is now the largest provider of outsourced CX and BPO services in Australia and New Zealand, with more than 600 clients and over 15,000 staff located in its 33 offices across the globe.
Andrew Hume, CEO of Probe, said: “Customer experience is truly at the heart of our business. Through our intelligent, tailored solutions, Probe enables companies to consistently deliver positive and enriching experiences to their customers. With this mission in mind, we are really excited to welcome KKR as a shareholder and value-added strategic partner, as their experience in transforming CX and BPO companies globally will be invaluable in our next phase of growth.”
Gareth Woodbridge, Managing Director at KKR, said: “We are excited to work closely with Andrew and his team to expand Probe CX’s leading market position. We look forward to leveraging KKR’s industry and operational expertise to help accelerate Probe CX’s growth plans and to scale its digital services capabilities and footprint for the benefit of its customers.”
Rodney Kagan, Founder of Probe, said: “It is with much pride and joy that after 43 years I can see Probe continue as the leader in the customer experience and outsourcing industry. Probe’s success has always been to surround itself with the most brilliant, committed, and professional team. I am so passionate for Probe’s future and feel very excited to see KKR help take the Company to the next level on its global journey.”
Jonathon Pearce, Managing Partner of Quadrant Private Equity, said: “Probe is a fantastic business led by an exceptional team which has been at the forefront of digital innovation. Over the past 18 months Probe has continued to ensure customers and consumers received the highest quality support despite the external challenges. Now, with KKR’s global reach and capabilities, we believe the business will continue to grow and enhance its service offerings for customers in the years ahead.”
KKR is making this investment from its Asian Fund IV. The firm’s investment in Probe CX builds on its long history of investing in Australia. KKR also has experience in successfully growing businesses in the CX industry globally, including its prior investment in Webhelp – a leading provider of CX and BPO solutions throughout Europe.
The transaction is expected to be completed by the end of calendar year 2021, subject to regulatory approvals and other customary closing conditions. Additional details of the transaction were not disclosed.
Probe CX was advised by Morgan Stanley Australia Limited, PwC, and Gilbert + Tobin. KKR was advised by Credit Suisse, King & Wood Mallesons, and EY.
About Probe CX
Probe CX is a globally recognised and award-winning customer experience organisation that designs and deploys solutions to bolster and optimise our client operations. Founded more than 40 years ago and with 15,000-plus staff across five countries, the company delivers exceptional customer experiences through its deep knowledge and capabilities in Contact Centre and Customer Management, Digital Consulting, Intelligent Automation and Analytics. Probe CX also provides Shared Services such as Finance and Accounting services and Help Desk/Support Desks and specialist Knowledge Services such as SEO/SEM marketing, software and web development, health care and loan processing.
About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About Quadrant Private Equity
Quadrant Private Equity was first established in 1996 (firstly as Quadrant Capital) and is a leading Sydney-based mid-market private equity firm investing in companies in Australia and New Zealand. Quadrant Private Equity has raised $7 billion and 12 funds since inception. Its latest funds, QPE No. 7 and Quadrant Growth Fund 2, have $1,240 million and $530 million in equity commitments respectively for private equity investment Quadrant has extensive investment experience, having led 83 investments in the past 11 funds (with 60 exits) across a range of sectors including retail, healthcare, media, consumer foods, financial services, eCommerce and other sectors.
About Five V Capital
Five V Capital, a certified B Corporation, is a private equity fund manager based in Sydney with over $900 million of funds under management. Five V’s unique investment approach is underpinned by a philosophy of alignment and is reflected in the Five V Capital team being the largest investors across its funds. This alignment between team, investors, partners and management teams is a key component of Five V’s success. Five V Capital’s current portfolio contains several leading businesses including Penten, APP Corporation, Zenith Investment Partners, Totara Learning, Monson Agencies, Probe CX, Education Perfect and Plenti. For more information about Five V Capital, please visit Five V’s website at https://www.fivevcapital.com and on LinkedIn at https://www.linkedin.com/company/fivevcapital.
The combined business will provide an integrated suite of cloud payroll and accounting software tools for accounting bureaus and small to mid-sized businesses in the UK and Ireland.
Dublin, Republic of Ireland, and London, United Kingdom. 28th September 2021. BrightPay, a leading provider of payroll and HR software solutions, and Relate Software (“Relate”), a champion in post-accounting, practice management and bookkeeping software, today announce that they have agreed to join forces to create a software champion serving payroll and accounting bureaus and SMEs across the Republic of Ireland and the United Kingdom.
Paul Byrne, co-founder and CEO of BrightPay, and Ray Rogers, co-founder and CEO of Relate, will remain as significant investors in the combined business and will become co-CEOs. Ross Webster and Richie McMahon, also co-founders of BrightPay and Relate respectively, will also remain as investors and will continue to focus on developing the combined business’ best-in-class product suite.
Hg, a leading software and services investor with over two decades’ experience in growing tax & accounting technology businesses across Europe and North America, will become majority investor in the combined business.
The two complementary businesses will bring together their operational strengths and sector-leading products whilst, with the support of Hg, investing further in new cloud innovations to deliver increased automation, efficiency and value for their customers. The combined group will have over 190 employees and has plans to further grow headcount to continue providing best-in-class services and support for its payroll, accounting and SME customers across both the UK and Ireland.
“We are delighted to be joining with Ray and his team at Relate. They have a proven track record in a sector we know well and, together, we will aim to be a leading solution for many businesses and accountancy firms. We are also delighted that Hg continues to support us. Their deep sector knowledge has proven invaluable to us and will be instrumental in fuelling the further growth of BrightPay/Relate.”
Paul Byrne, founder and CEO of BrightPay
“Combining products from both businesses will provide a compelling offering for our customers, with the scope and backing for further innovation and development. I’m looking forward to working with Paul and am also excited to welcome Hg, a leading software investor with a track record of supporting growth in Irish software businesses.”
Ray Rogers, founder and CEO of Relate
“Both BrightPay and Relate are very highly regarded businesses and champions in their field. The two companies bring together core operational strengths whilst also unlocking a high-quality, complementary suite of products to a newly combined customer base. We’re proud to bring together this highly accomplished team. This is a sector and region we know deeply and we are excited for what we’ll all be able to achieve together.”
Jonathan Boyes, Hector Guinness and Thomas Martin at Hg
The terms of the transaction are not disclosed.
Media Contacts:
Hg
Tom Eckersley
Tom.Eckersley@hgcapital.com
+44 208 148 5401
About BrightPay
BrightPay is a modern payroll and HR software for accounting and payroll bureaus and SMEs. It takes care of every aspect of running your payroll, from entering employee and payment details to creating payslips and sending RTI submissions. BrightPay has been designed from the ground up to be really simple, yet with no compromise on payroll features. It’s priced fairly with no hidden costs and free support. Our products are in use by over 330,000 employers in the UK and Ireland. As a customer-focused company, we strive to look after each and every one of them. BrightPay is also known as Thesaurus Software, a company with over twenty years of industry experience in the UK and Ireland. For more information visit: https://www.brightpay.ie/
About Relate Software
Relate Software was formed in 2002 from the former management team of Apex Software. We have been building software for the accountancy profession for over 25 years. Relate is dedicated to building innovative and focused products specifically for the accountancy profession. Its offering includes Surf products, a modern, cloud native product suite of bookkeeping, post-accounting, and practice management software to accountancy bureaus and SMEs in the Republic of Ireland. Relate’s product suite also includes compliance, company secretary, personal and corporation tax, and enterprise payroll software. For more information visit: https://www.relate-software.com/
About Hg
Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $37 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 35 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $70 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.
The combined business will provide an integrated suite of cloud payroll and accounting software tools for accounting bureaus and small to mid-sized businesses in the UK and Ireland.
Dublin, Republic of Ireland, and London, United Kingdom. 28th September 2021. BrightPay, a leading provider of payroll and HR software solutions, and Relate Software (“Relate”), a champion in post-accounting, practice management and bookkeeping software, today announce that they have agreed to join forces to create a software champion serving payroll and accounting bureaus and SMEs across the Republic of Ireland and the United Kingdom.
Paul Byrne, co-founder and CEO of BrightPay, and Ray Rogers, co-founder and CEO of Relate, will remain as significant investors in the combined business and will become co-CEOs. Ross Webster and Richie McMahon, also co-founders of BrightPay and Relate respectively, will also remain as investors and will continue to focus on developing the combined business’ best-in-class product suite.
Hg, a leading software and services investor with over two decades’ experience in growing tax & accounting technology businesses across Europe and North America, will become majority investor in the combined business.
The two complementary businesses will bring together their operational strengths and sector-leading products whilst, with the support of Hg, investing further in new cloud innovations to deliver increased automation, efficiency and value for their customers. The combined group will have over 190 employees and has plans to further grow headcount to continue providing best-in-class services and support for its payroll, accounting and SME customers across both the UK and Ireland.
“We are delighted to be joining with Ray and his team at Relate. They have a proven track record in a sector we know well and, together, we will aim to be a leading solution for many businesses and accountancy firms. We are also delighted that Hg continues to support us. Their deep sector knowledge has proven invaluable to us and will be instrumental in fuelling the further growth of BrightPay/Relate.”
Paul Byrne, founder and CEO of BrightPay
“Combining products from both businesses will provide a compelling offering for our customers, with the scope and backing for further innovation and development. I’m looking forward to working with Paul and am also excited to welcome Hg, a leading software investor with a track record of supporting growth in Irish software businesses.”
Ray Rogers, founder and CEO of Relate
“Both BrightPay and Relate are very highly regarded businesses and champions in their field. The two companies bring together core operational strengths whilst also unlocking a high-quality, complementary suite of products to a newly combined customer base. We’re proud to bring together this highly accomplished team. This is a sector and region we know deeply and we are excited for what we’ll all be able to achieve together.”
Jonathan Boyes, Hector Guinness and Thomas Martin at Hg
The terms of the transaction are not disclosed.
Media Contacts:
Hg
Tom Eckersley
Tom.Eckersley@hgcapital.com
+44 208 148 5401
About BrightPay
BrightPay is a modern payroll and HR software for accounting and payroll bureaus and SMEs. It takes care of every aspect of running your payroll, from entering employee and payment details to creating payslips and sending RTI submissions. BrightPay has been designed from the ground up to be really simple, yet with no compromise on payroll features. It’s priced fairly with no hidden costs and free support. Our products are in use by over 330,000 employers in the UK and Ireland. As a customer-focused company, we strive to look after each and every one of them. BrightPay is also known as Thesaurus Software, a company with over twenty years of industry experience in the UK and Ireland. For more information visit: https://www.brightpay.ie/
About Relate Software
Relate Software was formed in 2002 from the former management team of Apex Software. We have been building software for the accountancy profession for over 25 years. Relate is dedicated to building innovative and focused products specifically for the accountancy profession. Its offering includes Surf products, a modern, cloud native product suite of bookkeeping, post-accounting, and practice management software to accountancy bureaus and SMEs in the Republic of Ireland. Relate’s product suite also includes compliance, company secretary, personal and corporation tax, and enterprise payroll software. For more information visit: https://www.relate-software.com/
About Hg
Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $37 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 35 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $70 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.
It was recently announced that Logical Clocks raised 5 million euros from Industrifonden and Inventure to accelerate international growth. Logical Clocks offers Hopsworks, a state of the art platform that includes the industry’s leading Feature Store for machine learning, and a data science platform for the design and operation of machine learning workflows. They already have several large international clients such as AGL Australia, Wildlife Studios and SparkNZ. Logical Clocks is experiencing fast growth that will increase further with the recent investment.
At Industrifonden, we believe in the transformational power of AI and that the hype cycle we have seen will turn into a new era of machine learning actually being applied on a much broader scale, in everything from solutions to global challenges such as the climate crisis to improving everyday business decisions (see our AI-investment thesis here). Logical Clocks’ platform, called Hopsworks, solves many of the problems ML initiatives face today. Therefore, supporting Logical Clocks journey in enabling the operationalization of AI will radically accelerate the use of AI in many industries.
In 2011, Marc Andressen coined the expression “Software is eating the world”. Ten years later, we believe it is time for AI to eat software. However, so far what we are seeing is that too many companies are failing in their early machine learning initiatives, especially in getting models into production and generating value or reducing costs for the business1. Problems in managing data for training and serving models, disconnected teams, as well as not having a complete solution for automated machine learning workflows, are some of the issues leading to the slow and, often unsuccessful, adoption of machine learning.
Companies are investing large amounts of money into trying to resolve some of these issues and deal with the ongoing explosion in data. Typically, before tackling AI, companies first build a foundation for a modern data infrastructure, with support for scalable and often real-time analysis. This investment in data infrastructure is expected to accelerate coming years2. As the market for data infrastructure and AI technologies matures and grows, companies need more and better access to innovative AI models, applications and platforms. Unless AI models are in production, there is no return on investment.
Meet Logical Clocks and their platform, Hopsworks
Hopsworks is a platform for the design and operation of AI systems. It is designed to solve many of these challenges and pain points, providing a centralized ML platform with the industry’s most advanced and high performance Feature Store. This enables organizations to manage models with low latency access to data spanning the whole organization. With Hopsworks, companies can easily deploy real-time features (features are the clean, information-rich data used to train and make predictions with models), govern models with custom metadata and built-in data provenance, and increase effectiveness and collaboration across data and ML teams.
In other words, Hopsworks introduces a pivotal technology that streamlines the management of features, making it simpler, faster, and cheaper to move models to production. Hopsworks’ was built on a principle of being an open platform that allows data teams to choose their tools and deployment environment, either on-premises or as a managed platform in the cloud.
Hopsworks is available both on-premises and as a managed service on AWS and Azure today. It supports Python and Spark environments for feature engineering and model training, and it connects with the largest number of data storage and data science tools. The platform offers two product tiers: the open-source Community version that targets individuals or small organizations that want to try the Hopsworks Feature Store, and the Enterprise version that provides security and integrations to support organizations in building production machine learning applications at scale.
With this funding round, Logical Clocks will accelerate its international mission to help enterprises implement and manage AI-models at scale. We are extremely impressed with the team’s grit, strong research background, and technical skills. We could not be more excited and honored to partner with Jim, Theo, Fabio and the other eight founders on the next stage of the company’s journey!
Latest funding follows accelerated growth as Matillion platform fuels cloud analytics, AI and machine learning in large global enterprises
September 15, 2021
Matillion, a leading cloud data integration platform, today announced $150M in Series E funding, led by General Atlantic, a leading global growth equity firm, with participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners, and Lightspeed Venture Partners. This funding marks Matillion’s second triple-digit round of 2021, bringing the total amount raised to $310M at a valuation of $1.5B.
The average enterprise uses more than 1,080 different data sources in its analytics program. Even as cloud data platforms such as Snowflake, Amazon Redshift, and Databricks become central to modern data architectures, enterprises struggle to collect, synchronize and transform their data for analytics, AI and ML programs. Traditional and other methods are primitive and slow, relying heavily on hand-coding and placing the burden of enterprise data preparation on a few workers. This creates information gaps within the organization and limits critical insights. Matillion unlocks the data supply chain, accelerating time to value by delivering a data operating system that integrates and manages data at scale. This allows enterprise data teams to work together to source, enrich and share data, enabling the rapid and data-led decision-making required to compete and win in today’s digital economy.
“Enterprises need to effectively close information gaps by rapidly transforming operational data into analytics-ready datasets that fuel business intelligence, AI, and ML innovation,” said Matthew Scullion, CEO of Matillion. “With Matillion, large organizations are empowered with a data operating system that is purpose-built for the enterprise, enabling a broad spectrum of data users — from data scientists and engineers to marketers and business analysts — to make data useful.”
Coming off of its Series D round in February, Matillion has delivered accelerated growth in 2021, including recognition by Snowflake as its FY2021 Technology Partner of the Year for Data Integration and by Databricks for an ISV Innovation Award, as well as the launch of its new product, Matillion ETL for Delta Lake on Databricks. The company also earned the Great Place to Work Certification, with 94% of its UK employees and 91% of its U.S. employees stating that Matillion is a great place to work.
“As organizations look for ways to harness data to make better business decisions, the market for cloud data integration and transformation is expanding,” said Chris Caulkin, Managing Director and Head of Technology for EMEA at General Atlantic. “We believe that Matillion’s low-code ETL platform simplifies the process of constructing data pipelines and preparing data for analysis, enabling citizen data scientists and data engineers alike to play a valuable role in extracting data-based insights. We look forward to supporting the team through its next phase of growth and expansion.”
Hundreds of large enterprises including Western Union, FOX, Sony, Slack, National Grid, Peet’s Coffee and Cisco use Matillion’s cloud-native, low-code/no-code solutions to transform raw data into an analytics-ready asset, ready to power business intelligence, visualization, artificial intelligence, and machine learning projects.
“Global data teams are being tasked to support digital transformation journeys within their organizations and look to low-code, cloud native solutions to accelerate the delivery of business results,” said Frederick Wright, US Director, UK Senior Manager, Enterprise Architect – Integration & Analytics at National Grid. “Matillion enables enterprises like ours to increase our usage of analytics and drive greater understanding within our business.”
Matillion makes the world’s data useful with an easy-to-use cloud-native data integration and transformation platform. Optimized for modern enterprise data teams, only Matillion is built on native integrations to cloud data platforms such as Snowflake, Delta Lake on Databricks, Amazon Redshift, Google BigQuery, and Microsoft Azure Synapse to enable new levels of efficiency and productivity across any organization. Learn how Matillion delivers rapid returns on cloud investments for global enterprise customers at www.matillion.com.
About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 400 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $65 billion in assets under management as of March 31, 2021 and more than 175 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.
LONDON, ON, MINNEAPOLIS, MN and AALBORG, DK – September 15, 2021 – Trackunit and the Industrial IoT division of ZTR are uniting to better serve the growing demands of the construction industry. Putting customer needs first, the two telematics leaders are combining their considerable resources to accelerate innovation and drive digital transformation — with collaboration and service at the centre of their strategy.
“We see the industry at a pivotal tipping point when it comes to digitalization of their business and equipment – and customers are looking for a trusted partner.”
Soeren Brogaard, CEO of Trackunit
“By combining ZTR IIoT and Trackunit resources and offerings, we’re better equipped to serve the needs of the customers now and in the future.”
Sam Hassan, President & CEO of ZTR
Strengthening our core focus
As a combined entity, Trackunit and the ZTR IIoT division will extend their core focus to accelerate the digital journey in construction, Hassan continues.
“By coming together with Trackunit, we will be able to operate on a global scale to provide an expanded offering to our customers with greater efficiency and depth,” he says.
“Together, we are strengthening our core focus on enabling the ecosystem of construction. By combining our businesses, we’re elevating our technology and increasing the value customers will be able to extract from their data”, adds Soeren Brogaard.
Over the past few years, the realm of IoT and telematics possibilities has evolved from simple track and trace technology into highly actionable insights that create massive value for the stakeholders of the construction industry.
After the transaction closes the combined entity of Trackunit and ZTR will specialize in creating offerings that enhance utilization, increase fleet availability, improve safety and reduce equipment loss as major value drivers. In addition, both companies will help customers in collecting data and translating it into actionable insights – enabling customers to build smarter and more resilient machines. Furthermore, the combined entity is dedicated to helping improve daily operations for customers with increased operator safety, machine health and business optimizations.
“Our promise to the industry is based on collaboration. With a purpose as determined and noble as eliminating downtime, we know that working with our customers to apply new digital tools, is absolutely necessary. We make ourselves useful and strive to solve real problems, building everything for scale, while showing compassion for our customers, partners, competitors, and the industry at large”, says Soeren Brogaard.
Best of both worlds
At their cores, both Trackunit and ZTR are in business to build solutions that propel the construction industry forward. Trackunit recently attracted a strategic investment from Hg, a leading global software and services investor, to accelerate the company expansion, while ZTR has been transforming its business, and predicts growth through rising demand. Both Trackunit and ZTR have recently taken their first steps into, and secured traction in, the APAC region. Both businesses are ready to start the next chapter – one company focused on uniting the industry and shape it to become the most useful industry for the world. In essence, the timing couldn’t be better.
“We’re focused on delivering our existing customer commitments and creating a smooth integration. This is all about bringing people, competence, and great technology together to create a bigger impact”, says Soeren Brogaard.
A shift in the market
The construction industry is growing rapidly. It is experiencing accelerated investment in IoT capabilities with construction now one of the top five industries for investment growth. As a result, data proliferation is expected to grow exponentially as penetration of connected equipment continues beyond 2025 and machine-level data grows. Given these developments, Trackunit and ZTR IIoT are teaming up to better help their customers meet the changes that come with increasing digitalization of the construction industry.
“ZTR and Trackunit together represent an incredible next step that will enable us to become a truly global player to better serve our customers. I’m excited to roll up my sleeves and take an active part in the executive team. I look forward to venturing out on this shared mission – one in which I have no doubt Soeren Brogaard will capably lead”, says Sam Hassan.
About Trackunit ApS
Trackunit is the leading SaaS-based IoT solution and machine insights provider to the global construction equipment industry. Trackunit collects and analyzes machine data in real-time to deliver actionable, proactive and predictive information, empowering customers with data-driven foresight.
Trackunit promises to lead the technology engagement to help eliminate downtime. The ambition of this mission is not only to recover from budget and schedule overruns, but also to re-establish the reputation of the industry for innovation and leadership.
From operator safety and machine health to business optimization, Trackunit’s industry-leading telematics software, hardware and fleet management services benefit the everyday operations of the customers worldwide. Trackunit services its customers directly from its headquarters in Denmark, Chicago, IL and Singapore, as well as through subsidiaries in Sweden, Norway, France, Holland, Germany, UK, Australia and Japan. Visit trackunit.com to learn more
About ZTR
ZTR is a global technology company that develops solutions for the compact construction industry. Known as a pioneer in the development industrial Internet of Things (IoT) technology, the telematics provider delivers products and services that allow companies to remotely monitor and manage mobile as well as fixed assets.
Leading the industry in response to the need for richer machine data, greater uptime, and better insights, ZTR has designed new solutions that help Rental Companies, OEMs and end-users work together to operate smarter and easier. By listening and collaborating with its customers, ZTR takes on big industry challenges and opens pathways toward the continued digitalization of the construction sector.
ZTR Telematics Solutions easily integrate with industrial machinery and the business systems customers use every day so they can use the data to make decisions and react in real-time. With more than 450,000 telematics-enabled assets under contract, ZTR integrates with 150+ industrial Original Equipment Manufacturers, and many top rental houses worldwide.
The Rail division of ZTR will continue to operate independently. There will be no impact to its organization structure, customers or business operations as a result of this announcement. For more information visit www.ztr.com
13 September 2021 Co-Investment United-KIngdom, London
London and Paris, September 13, 2021 – Apax Partners SAS (“Apax”), the leading European private equity firm based in Paris, announces that it has sold a majority stake in Marlink (the “Company”) to Providence Equity Partners (“Providence”), a leading private equity firm specializing in media, communications, education, software and services. The transaction values the Marlink Group at $1.4 billion. No further information on the terms of the transaction is disclosed.
The transaction values Marlink at $1.4 billion.
Marlink’s management team is significantly reinvesting in the transaction.
Ardian is also taking an equity stake.
The objective: to accelerate Marlink’s growth in the face of increasing broadband demand and the accelerating digitalization of its customers.
Convinced of the group’s growth prospects, Apax retains a significant minority stake in Marlink. Ardian and Marlink’s management team are also investing alongside Apax and Providence.
Based in Paris and Oslo, Marlink is the leading independent provider of communications services and solutions in the most remote areas of the world. The group serves the largest companies in the maritime and land-based sectors.
“Marlink offers a comprehensive set of smart grid solutions, combining terrestrial and satellite connectivity, computing, cloud, cybersecurity and IoT managed services,” said Karim Tabet, President and CEO of Providence. “We are thrilled to partner with such an outstanding company as Marlink. Along with Apax and Ardian, we look forward to supporting Erik Ceuppens and his team. As a leader in its market, Marlink wants to capitalize on the growing demand for digital solutions and broadband connectivity.”
Michael Vervisch, Managing Director of Providence, added: “We have been impressed with Marlink’s transformation into a leading broadband provider, able to operate its own network and generate economies of scale to become a leader within its industry. By offering digital solutions with real added value, among other things, we will be able to create real growth opportunities in the future.”
Bertrand Pivin, Partner at Apax, said: “Apax first invested in Marlink 15 years ago. Under the leadership of Erik Ceuppens, the company has completely transformed its value proposition, tripling its revenues and increasing its EBITDA by a factor of 10. It has become the world’s leading operator of satellite services, first in the maritime sector and more recently in the enterprise sector with the acquisition of ITC Global. The 10,000 broadband terminals installed around the world are a true lever for the design and delivery of critical digital services sought by Marlink’s direct customers in their strategic operations. We are convinced that Providence is a partner of choice to lead the next steps in the group’s development and are happy to continue the adventure with them.”
Erik Ceuppens, CEO of Marlink, said: “This major transaction demonstrates the confidence of our investors in the strength of our company and its development potential. Through significant organic growth and several targeted strategic acquisitions, Marlink has established itself as a leader in B2B satellite communication solutions. In line with its Smart Network strategy, Marlink is working hard to rapidly digitize its customers’ remote operations and support their sustainability. We are delighted to partner with leading private equity investors Providence and Ardian as our new majority shareholders, and to have the full support of our first ever investor Apax. With their support, our management team and our employees, we have all the keys in hand to take Marlink to the next level.”
Alexandre Motte, Head of Ardian Co-Investment, said: “Whether it is the company’s unique positioning in the B2B satellite communications industry or the various achievements of Erik and his team, we have been particularly impressed with Marlink. With new opportunities for growth – including significant acquisitions – and the increasing need for services and connectivity, we are excited to be a part of writing this new chapter in Marlink’s development. Many thanks to Marlink, Providence and Apax for their confidence. We look forward to contributing to this collaboration!”
Subject to customary and regulatory approvals, the transaction is expected to close in the first half of 2022.
Parties to the transaction
Providence
Providence : Karim Tabet, Michael Vervisch, Stefano Bosio, Tarik Ben Brahim
Providence Equity Partners is a leading global private equity firm with nearly $45 billion in committed capital. Providence is a pioneer in the industry approach to private equity, cultivating the idea that a dedicated team of industry experts can build exceptional companies with enduring value. Since its founding in 1989, Providence has invested in more than 170 companies. It is a leading private equity firm focused on the media, telecommunications, education, software solutions and services sectors. Providence has a strong track record of investing in a variety of European TMT companies, including (between 2001 and 2021) Node4, MasMovil, Mach, MobilServ, M7 Group, Ono, Comhem, TDC, Eircom, Bite, Kabel Deutschland and Casema. Providence is headquartered in its namesake metropolis (in the U.S. state of Rhodes Island) and has a branch office in New York and another in London.
Apax Partners is one of the leading private equity firms in Europe. With over 45 years of experience, Apax Partners supports companies over the long term to make them leaders in their sector. The funds managed and advised by Apax Partners amount to over €4.5 billion. These funds invest in high-growth SMEs and SMIs in four sectors of specialization: Tech & Telecom, Services, Healthcare and Consumer Goods.
Marlink Group, the leading independent provider of transmission services and solutions and a pioneer in its field, has been serving the world’s largest maritime and land-based businesses for 75 years. With expertise in the design, installation and operation of intelligent network solutions that combine hybrid connectivity with satellite and terrestrial links, Marlink enables businesses to stay connected at all times, while optimizing the performance of their operations wherever they are, in an increasingly intelligent, efficient and secure manner.
In addition to a range of unparalleled satellite and terrestrial connection services, Marlink offers a range of digital solutions such as network management, cloud access and cybersecurity. Marlink brings unique tailor-made fixed and mobile solutions to each project thanks to its expert teams, its powerful network, and its technology partners. More than 1,000 Marlink employees serve major global customers worldwide, with over 1,500 land-based VSAT installations and over 6,000 maritime VSATs.
More than 200,000 end-users rely on Marlink’s services, including the shipping, transportation, oil and mining industries, media, NGOs, and government institutions.
Ardian is a world-leading private investment house with assets of US$114bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 780 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Nordic Capital Evolution has signed an agreement to invest in the fast-growing fintech company Qred. The investment will be made in partnership with Qred’s management and founders, with the goal of together continuing to significantly expand the business across Europe.
Since its inception in 2015, Qred has become a leading provider of financing and payment services to small businesses in the Nordics and the Netherlands, with its fully automated credit system, digital platform and easy, innovative solutions for entrepreneurs seeking financing. Nordic Capital will support the company in driving growth, investing in new products for responsible and inclusive lending, and increasing its international presence.
“Qred has shown that there is a large and growing demand for small business loans that the big banks fail to address. We are now ready to take the next step in the expansion of our digital product offerings by developing Qred into the leading financial platform for small businesses in Europe. I am thrilled to have Nordic Capital on board. They are the best possible partner for us on this journey, and we look forward to drawing on their expertise within technology and financial services and benefitting from their large international network,” says Emil Sunvisson, CEO and co-founder of Qred.
Qred has recently launched the first credit card aimed for small businesses, that have historically had difficulty gaining access to credit. The credit card offering will allow small businesses to take advantage of a credit facility to grow their business and to use a range of smart features including digital expense management. The broadened product range is an important part of helping small businesses to access better, automated credit services and is part of Qred’s growth strategy.
Nordic Capital will become a significant shareholder in the company, while the current founder and management will remain as majority owners. As an active partner, Nordic Capital will support Qred’s future growth journey with its extensive expertise in financial services and its broad international network and will provide capital for innovative investments in technology and new product development.
“We are very impressed by Qred’s strong development and innovative model. By identifying a new market segment and combining it with leading technology, the company has opened the door for many small businesses to grow and realise their dreams. Studies show that lack of financing is one of the biggest challenges for small businesses, while funds lent to small businesses can considerably increase GDP growth, the creation of new jobs and significant extra tax revenues. Together with Qred’s management and founders, Nordic Capital sees great potential to further accelerate growth, expansion into new geographies and the development of new solutions for small businesses,” says David Samuelson, Principal, Nordic Capital Advisors.
Qred’s leading technology and automated data processing give companies a quick and easy credit assessment combined with access to personal customer service. Qred has to date served over 25,000 small businesses in Sweden, Finland, Denmark, the Netherlands and Belgium. In 2020, Qred entered the Brazilian market through a joint venture. Today, Qred has around 12,000 monthly active users of their financing solutions and other credit services.
In 2020, Qred was ranked by the Financial Times as the eighth fastest growing company in Europe. The company enjoys high levels of customer satisfaction with many repeat customers and a Trustpilot score of 4.8 out of 5. Qred has approximately 130 employees and is headquartered in Stockholm with regional offices in Helsinki and Malmö.
Nordic Capital is one of Europe’s leading private equity investors with significant value-add expertise in its focus sectors (including Technology & Payments and Financial Services), combined with extensive experience of developing companies through organic growth and add-on acquisitions
The partnership with Qred is consistent with Nordic Capital’s strategy of investing in innovative companies with the potential to be the leaders of the future. The investment is also fully in line with the firm’s ambition to broaden its successful value creation model to include mid-market companies.
The transaction is subject to customary regulatory approvals. The terms of the transaction were not disclosed.
Media contacts:
Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com
Qred
Andrea Romander, Head of Communications
Tel: +46 (0)730 92 66 07
e-mail: andrea.romander@qred.com
About Qred
Founded in 2015 by entrepreneurs for entrepreneurs, Qred is now Sweden’s fastest growing fintech company according to the Financial Times. Qred is the market leader in the Nordic region and has Sweden’s most satisfied customers according to Trustpilot. With operations in Sweden, Finland, Denmark, the Netherlands, Brazil and Belgium, Qred has helped more than 25,000 companies. Qred’s fully automated, proprietary credit scoring system allows Qred to quickly and competitively provide business owners with the power they need to grow. For further information about Qred please visit www.qred.com/en-se.
About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested close to EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland and Norway. For further information about Nordic Capital, please visit www.nordiccapital.com.
“Nordic Capital” refers to any, or all, Nordic Capital branded funds and vehicles and associated entities. The general partners and/or delegated portfolio manager of Nordic Capital’s funds and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.
