Tag Archives: Information technology

Bonnier Ventures invests in AI-based HR scaleup Winningtemp

Bonnier Ventures

oktober 8, 2020

Bonnier Ventures, the venture capital arm of family owned holding company Bonnier Group, today announced that it has invested SEK 45 million in Winningtemp – a fast growing HR SaaS scaleup from Gothenburg, Sweden. The investment was part of a SEK 157 million (USD 17.6 million) Series B financing co-led by Bonnier Ventures and UK based investor Frog Capital. Existing investors also participated in the round.

The investment comes on the back of an exciting year for Bonnier Ventures in which the venture capital arm’s annual investment mandate was doubled to some SEK 200 million (USD 22.6 million). The expanded mandate was decided after several years of strong portfolio performance and new funds becoming available from the Bonnier Group’s divestment of Bonnier Broadcasting last year.

Bonnier Ventures will continue on its proven path of taking active minority shareholdings in fast growing technology companies across the early growth stages. With the expanded mandate, the investment arm will now also be able to target later stage companies as well as continue to support companies in the portfolio into later stages in their growth journeys.

Ulrika Saxon, CEO of Bonnier Ventures commented: “We’re very excited to partner with Winningtemp and to support them in growing their employee satisfaction and performance platform outside of the Nordics. This investment ticks a lot of boxes of what we look for: An innovative product within a growing macro area, strong founders, a sound business on a scalability path, and a clear
fit for us to help with growth capital and expertise to accelerate their international expansion from a solid Nordic base. ”

About Bonnier Ventures

Bonnier Ventures is the venture capital arm of family owned Bonnier Group. Bonnier Ventures targets significant minority shareholdings in technology businesses in the early stages of scaling up, typically making initial investments around SEK 20-60 million (USD 2-6 million). Bonnier Ventures works closely with their portfolio companies and provides active support as they scale up.
The portfolio currently includes 16 companies such as Acast, Natural Cycles,Doktor.se and Resolution Games.

For further information, please contact:
Ulrika.saxon@bonnier.se or victor.bodin@bonnier.se
Or visit www.bonnierventures.com

 

Bonnier Ventures investment team, from left: Ulrika Saxon, Matti Zemack, Elisabet Ålander, Olof Sandberg, and in sofa: Jonas von Hedenberg, Victor Bodin (on screen), Dajana Mirborn.

 

About Winningtemp

Winningtemp’s AI-driven platform enables organisations to visualise employee development and gain insights that enhance engagement and mental well-being while minimising stress and staff turnover. The company currently holds 60 employees across four offices in Gothenburg, Stockholm, Oslo and London. More than 100 000 users in over 20 countries engage daily with the platform.
The customer list includes more than 550 companies.

For further information, please contact:
Pierre Lindmark, CEO and founder Winningtemp
E-mail: pierre@winningtemp.com
Or visit www.winningtemp.com

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IK Investment Partners to acquire You Sure

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap II Fund has reached an agreement to acquire a majority stake in You Sure Investments B.V. (“You Sure” or “the Company”) from Synergia Capital Partners (“Synergia”). The transaction is subject to AFM clearance. Financial terms of the transaction are not disclosed.

You Sure is a leading Dutch insurance distribution platform, providing insurance to small businesses and individuals. Operating mainly in the Property and Casualty (“P&C”) segment, You Sure acts both as an insurance broker and a Managing General Agent (“MGA”), and currently serves over 60,000 customers.

Headquartered in Ridderkerk, You Sure employs over 130 people across seven offices in the Netherlands. The Company was founded in 2011 by Ger Knikman and Joep van den Eijkel, who have been active in the insurance industry for over 30 and 40 years, respectively, and have worked together since 2005. You Sure partnered with Synergia in March 2019 and following the sale to IK, the co-founders will be reinvesting in the business to support further growth.

The Company has significantly expanded its footprint over the last nine years through strategic acquisitions, a strong customer focus and its effective IT platform. To date, 35 insurance portfolios have been acquired and integrated into You Sure’s proprietary platform, which the Company plans to continue with IK’s support.

The transaction represents the 11th investment from IK’s €550 million Small Cap II Fund.

Ger Knikman, CEO of You Sure commented: “We have thoroughly enjoyed working with Synergia, and with their support we have achieved our three-year plan in just 18 months. As we embark on the next stage of our growth, we are delighted to partner with IK. With their established presence in the Netherlands and track record of delivering long-term value, we look forward to proceeding with our strategic pipeline of acquisitions while delivering strong organic growth.”

Sander van Vreumingen, Partner at IK and advisor to the IK Small Cap II Fund, said: “You Sure is a strong insurance platform that has shown impressive growth under the leadership of Ger and Joep. We are attracted by the Company’s focus on quality and customers’ relationships driven by its proprietary digital platform. With the sector about to embark on a phase of consolidation, we are excited to partner with You Sure and help the business grow further and deliver even more for its customers.”

Leo Schenk, Managing Director at Synergia, commented: “We have had a fantastic journey with You Sure over the last 18 months and sincerely enjoyed working with Ger, Joep and the team. With a strong platform, ambitious growth strategy and their knowledge of the insurance business, they have a strong future ahead of them with IK.”

For further questions, please contact: 

Maitland/AMO
James McFarlane
T: +44 (0) 20 7379 5151
jmcfarlane@maitland.co.uk 

IK Investment Partners
Nastasja Vojvodic
T: +44 (0) 20 7304 4300
nastasja.vojvodic@ikinvest.com

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in over 135 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About IK Small Cap II

The €550 million IK Small Cap II Fund (“IK Small Cap II” or “the Fund”) closed in 2018 and invests in growing businesses across IK’s four core sectors: Business Services, Consumer/Food, Engineered Products and Healthcare. Dedicated investment teams in Amsterdam, Copenhagen, Hamburg, London, Paris and Stockholm look to support businesses with an Enterprise Value of between c. €30 million and c. €100 million across the Benelux, DACH, France, Nordics and the UK. For more information, visit www.ikinvest.com/IK-Funds/ik-small-cap-ii-fund

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Industrial IoT firm Sensolus secures € 3.5 million to enhance visibility in international supply chains

Capricorn

ews

– 06/10/2020

Ghent, Belgium: 6 October 2020 – Sensolus, provider of IoT (Internet of Things)-based asset tracking solutions, has closed a financing round of € 3.5 million. The Belgian firm enables companies to track non-powered assets in supply chains and industrial manufacturing, operating in various industries in more than 15 countries. The financing round is led by btov Partners’ Industrial Technologies Fund in addition to existing investors Annie Vereecken, Capricorn ICT Arkiv and Quest for Growth. The funding will further accelerate the company’s international growth and help realizing its product roadmap.

Logistics and supply chain processes depend on transport carriers such as pallets, boxes, containers, returnable transport packaging and trailers. Currently, most of those non-powered assets are not connected to the internet, resulting in lost and unused assets, stock shortages or under- and overcapacity. Sensolus solves these problems and provides a cost-effective end-to-end IoT solution to track these transport carriers in real-time and optimize the underlying process flows.

Connecting non-powered assets as a crucial step in the process

The solution consists of wireless trackers that are installed as simply as a sticker, last up to 7 years without charging and communicate with the internet in real-time without requiring any other infrastructure. These wireless trackers collect crucial location, activity and sensor data, which Sensolus combines with existing process data to generate supply chain metrics, to alert on anomalies and to detect patterns which can lead to actionable insights for optimizing processes. Multiple industry leaders (e.g. Airbus, Volvo, AB InBev, SUEZ, T.C.R.) rely on Sensolus’ technology to get real-time visibility in their daily operations and save substantial costs.

The capital is raised to accelerate Sensolus’ growth in its existing market segment and to open up new segments in Europe and US. Moreover, the company will expand its solution to connect more types of assets which are omnipresent in the global supply chain.

The digitization of processes in asset-intensive industries is the new normal

Kristoff Van Rattinghe, CEO and co-founder of Sensolus is happy about the investment: “It is great to welcome the international investor btov Partners with their Industrial Tech Fund. We are entering a new era of the connected supply chain we will be connecting millions of non-powered assets in the years to come.”
Today, more than 100.000 non-powered assets are connected to the Sensolus SaaS (Software as a Service) platform. Van Rattinghe is confident that this is just the beginning: “IoT technology has become mature and sufficiently affordable to directly connect all new types of non-powered assets such as boxes and pallets, of which billions of units are rotating invisibly in our world. On the other hand, digitization of processes is a must for our customers to remain cost-effective and competitive in their market. We have exciting years ahead of us.”

Edge-cloud intelligence as key enabler

The interplay between cloud as well as edge intelligence on the tracker makes the Sensolus solution unique. It allows capturing and analyzing the behavior of many different assets in a reliable, energyefficient way and in a wide variety of verticals Sensolus is active in. This cloud/edge combination makes the complex and broad nature of low-power asset tracking available as a plug-and-play solution. Thus, it scales to tracking large fleets of assets without losing control of the operational risk.

Benedikt Kronberger, partner at btov’s Industrial Technology Fund says: “Sensolus’ diverse team possesses significant domain expertise and great technological knowhow in the fields of both hardware as well as software development. Sensolus’ offering, with its low overall total cost of ownership, a long battery life as well as superior analytics capabilities convinced us to join the strong existing investor consortium. Moreover, through its patented technology, the company is ideally positioned to further consolidate its position as a market leader in the fast-growing industrial IoT market for asset tracking and process optimization applications.”

Marc Lambrechts, board member at Sensolus and investment manager at Capricorn Partners says: “From the start, we have been charmed by the capabilities of the Sensolus team to deliver scalable, reliable and mission critical end-to-end solutions to top tier industrial clients. With this additional investment Sensolus will be able to expand further in the journey from collecting quality data to actionable insights.”

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Simplifying recruitment with Artificial Intelligence

San Francisco, 6 October 2020

AllyO

GP Bullhound acted as the exclusive financial adviser to AllyO, a leading HR SaaS and AI company, on the sale of its business to HireVue, the global leader in virtual interviewing and assessments technology, majority owned by the Carlyle Group.

AllyO, based in Palo Alto, California, provides a SaaS AI solution to engage and qualify job seekers, automate recruiting processes, and deliver actionable insights to hiring managers. The company’s platform targets enterprises and was primarily backed by Sapphire and Bain Capital Ventures.

“AllyO is a natural extension to HireVue’s solutions and we are thrilled to become a part of it,” said Sahil Sahni and Ankit Somani, Co-founders of AllyO. “Uniting AllyO’s continuous, personalized candidate engagement with HireVue’s video interviewing and assessments will increase hiring velocity and talent quality for companies, allowing candidates to connect on their own terms to more fully showcase their potential.”

Jonathan Cantwell, Partner at GP Bullhound, stated: “We are proud to have helped AllyO find its ideal strategic partner in HireVue and complete a successful deal for the stakeholders. The combination creates an undisputed leader in the recruitment space. We look forward to seeing their growth and success for years to come.”

This represents GP Bullhound’s 21st transaction in the last year, of which 12 SaaS transactions, and is a further testament to the firm’s expertise in the HCM software sector, having previously advised TextRecruit in its sale to iCIMS, Zugata in its sale to CultureAmp, and Multiposting in its sale to SAP, among others.

About GP Bullhound

GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com.

For enquiries, please contact:

Jonathan Cantwell, Partner and Head of Software

jonathan.cantwell@gpbullhound.com Brandon Overmyer, Vice President

brandon.overmyer@gpbullhound.com

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TA Associates Completes Significant Growth Investment in Priority Software

TA associates

BOSTON, LONDON, and Tel Aviv District, ISRAEL – TA Associates, a leading global growth private equity firm, today announced that it has completed a significant growth investment in Priority Software Ltd., a leading global provider of Enterprise Resource Planning (ERP) software.

TA joins existing investor Fortissimo Capital, a leading private equity firm based in Israel and focused on special situations and growth opportunities, as an institutional investor in Priority Software. Financial terms of the transaction were not disclosed.

Founded in 1986, Priority Software provides end-to-end cloud-based (SaaS) and on-premise business management solutions for organizations of all sizes to improve business efficiency and the customer experience. The company’s Priority PRO product provides comprehensive ERP software for medium to large organizations encompassing demand planning, manufacturing operations, financial management, human capital management, procurement and supply chain management. Priority Software also provides business management software for smaller companies that focuses on financial management, reporting and accounting. The company has more than 10,000 customers and over 300,000 end users across multiple end markets, including manufacturing, construction, healthcare and pharma, services, and retail and wholesale. Priority Software has more than 200 employees located across five offices in Israel, the U.S., the UK and Belgium.

“TA’s extensive experience investing in the enterprise software space and in partnering with growing companies like Priority Software made the firm an attractive investment partner,” said Andres Richter, CEO of Priority Software. “We’ve identified opportunities to accelerate our growth and further expand Priority Software’s market penetration both nationally and internationally, and we believe that TA will be a valuable partner for us alongside Fortissimo to help us realize our ambitions.”

“Priority Software is considered by many to be a market leader in the Israeli ERP space, and we believe that the company has significant untapped potential,” said Stefan Dandl, a Senior Vice President at TA Associates who has joined the Priority Software Board of Directors. “Additionally, there is significant opportunity for Priority Software to expand internationally in its addressable market through acquisitive and organic growth. We look forward to partnering with the Priority Software and Fortissimo teams in these growth efforts.”

“We have been following Priority Software for several years and have been impressed by the quality of the company’s management team and the growth they have achieved to date,” said Naveen Wadhera, a Managing Director and Co-head of the EMEA Technology Group at TA Associates who has joined the Priority Software Board of Directors. “The ERP market continues to see strong growth globally, driven by a need for operational efficiency and transparency, coupled with increasing adoption of cloud-based solutions. We believe that Priority Software’s flexible, innovative and high-quality products make it well-positioned to capitalize on these opportunities, and we are pleased to become an investment partner alongside Fortissimo as the company enters its next stage of growth.”

“As a firm focused on creating value from growth, Fortissimo is proud to have partnered with the Priority Software team and been a part of the company’s rapid growth over the last six years,” said Yuval Cohen, Managing Partner at Fortissimo Capital. “We continue to believe in Priority Software’s growth potential in Israel as a result of its leadership position, loyal customer base and superior technology and its potential to continue driving growth worldwide. We are excited to welcome TA as a new partner to further accelerate Priority Software’s growth.”

About Priority Software
Priority Software provides flexible, end-to-end business management solutions for organizations of all sizes in a wide range of industries, from a fully featured ERP platform serving multinational corporations, to small and growing businesses. Recognized by top industry analysts and professionals for its product innovation, Priority Software improves business efficiency and the customer experience, providing real-time access to business data and insights in the cloud, on premise and on-the-go. With offices in the U.S., the UK, Belgium and Israel, and a global network of business partners, Priority Software enables more than 10,000 companies in 40 countries to manage and grow their business. For more information, visit www.priority-software.com.

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 90 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

About Fortissimo Capital
Fortissimo Capital is a private equity fund, established in 2004, that invests primarily in Israeli-related technology and industrial companies to expedite growth. Fortissimo raised $1.6 billion across five funds. Fortissimo Capital is a special situations and growth capital Israeli-related private equity fund focused primarily on maturing technology and industrial companies that are at a point of inflection. Fortissimo’s investment strategy is to achieve capital appreciation through taking a leading role and active approach in Israeli-related global businesses that require immediate and significant change, or stimulation of growth and by building business fundamentals to facilitate sustainable long-term growth and value creation. More information about Fortissimo Capital is available at www.ffcapital.com.

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ST Engineering Accelerates Hybrid Multi-Cloud Management and Governance Capabilities with Investment in CloudSphere

Atlantic Bridge

 

Singapore and Los Altos, CA., 6 October 2020 – ST Engineering today announced that its Corporate Venture Capital unit, ST Engineering Ventures, has joined Atlantic Bridge in the closing of a strategic investment round in CloudSphere Limited, a cloud management and governance provider headquartered in Los Altos, California and Dublin, Ireland.

The investment in CloudSphere also includes a commercial agreement that enables direct access to hybrid multi-cloud management and governance software and expertise, immediately enhancing ST Engineering’s current cloud portfolio beyond assessment, planning and migration. This is in line with the Group’s goal to accelerate and scale its capabilities in Professional and Managed Services in public clouds to provide greater value to its customers and drive long-term growth for the company.

“Large enterprises are operating in hybrid and multi-cloud environments, and using many different sets of tools in resource provisioning and monitoring, cost reporting, security and identity dashboards with multiple, disparate control planes. Our partnership with CloudSphere will allow our customers to gain greater visibility and control of their multi-cloud inventory, performance and costs. This enhanced cloud Managed Service Provider capability will empower us to seize the opportunities with cloud technology,” said Ravinder Singh, President of ST Engineering’s Electronics sector.

“The transition to the cloud will continue to accelerate as forward-looking organisations like ST Engineering help enterprises navigate their digital transformations,” said Patrick McNally, Chief Executive Officer of CloudSphere. “We are excited to work closely with ST Engineering on joint go-to-market activities where our expertise in automation for cloud security and identity governance will allow us collaborate and provide valuable solutions to their customers.”

CloudSphere’s flagship Cloud Governance Platform helps control the challenges of increasingly complex public cloud deployments with automation and intelligence that dramatically simplifies how operators govern access to critical resources, minimise security risks and manage spending in the cloud. It is the only Cloud Governance Platform that takes the key data points from application discovery and migration planning to group cloud resources by application. This unique approach allows more intuitive governance of cloud resources at the application level.

With offices in Singapore, San Francisco, U.S.A., and Tel Aviv, Israel, ST Engineering’s Corporate Venture Capital unit scouts for and invests in promising technology start-ups in high growth areas such as robotics, autonomous technology, data analytics, cybersecurity and emerging technologies. It aims to build successful, collaborative relationships with start-ups, combining technologies and expertise to co-create breakthrough solutions while enabling their access to the Group’s global business ecosystems, expertise and resources.

Atlantic Bridge

 

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Tim and Ardian have finalized the investment in Inwit

Ardian

TIM holds 51% of the holding company with 30.2% of INWIT; the Consortium of investors led by Ardian holds the remaining 49%

Rome, 2 October 2020 – TIM and Ardian, a world-leading private investment house operating in the infrastructure sector, announce that they have finalised the agreement communicated last 24 June for a partial sharing of the investment in Infrastrutture Wireless Italiane S.p.A. (INWIT). The transaction consists of the purchase by a consortium of institutional investors led by Ardian of a 49% stake in Daphne 3, a newly-established holding company controlled by TIM, to which TIM has transferred a 30.2% stake in the share capital of INWIT. The holding company takes over from TIM – for the stake in INWIT transferred – in the shareholder agreement existing between TIM and Vodafone Europe B.V., by virtue of which they jointly control INWIT.

Relations between TIM (which retains control over the holding company) and the consortium led by Ardian are regulated by a specific shareholders’ agreement, the contents of which were disclosed to the market last 29 June.

The transaction does not entail any mandatory takeover bid, as confirmed by Consob, and has been approved in accordance with Golden Power regulations; the value of the transaction for TIM is 1.35 billion euros in respect of an INWIT share value of €9.47 (ex-dividend).

Of the remaining direct stake held by TIM in INWIT, equating to 3% of its capital, today 1.2% was sold for 109 million euros, to a vehicle managed and assisted by Canson Capital Partners (Guernsey) Limited, which also has an option to purchase the remaining 1.8% for a price of 161 million euros.

The Board of Directors of Daphne 3 has the following members: Marco Patuano (Chairman), Carlo Nardello (Chief Executive Officer), Davide Carlino, Sabrina Di Bartolomeo, Laurent Fayollas, Agostino Nuzzolo and Frédéric Jean Daniel Payet.

The investment in Daphne 3 represents the first step of a long-term partnership between TIM and Ardian, aimed at strengthening the leadership of INWIT on the Italian telecommunications market, leveraging the growth of data traffic and the new opportunities arising from the implementation of 5G.

Mathias Burghardt, Member of Ardian’s Executive Committee and Head of Ardian Infrastructure, said: “This investment of great strategic value further demonstrates our commitment to Italy, a core market for us in which we have been investing for more than a decade. Alongside major industrial partners, we have contributed to long-term sustainable growth plans and value creation for all stakeholders. We are very pleased to start building a strong partnership with TIM. Together with TIM and Vodafone, we will support the management team in the ambitious growth plan for this essential technological infrastructure”.

Since 2005 Ardian Infrastructure has made more than 45 investments for a total of 16 billion dollars, managed or advised, with a team of 40 professionals specialized in infrastructure investments worldwide. In Italy, always considered a key market, as a long-term strategic partner, since 2007 Ardian has invested approximately 3 billion euros in infrastructure activities, including the investment in INWIT.

ABOUT TIM

TIM is one of the top Information & Communication Technology companies in Europe and the market leader in Italy. It offers its customers fixed and mobile telecommunications, internet, premium digital entertainment content – through TIMVISION, TIMMUSIC and TIMGAMES – and advanced cloud-based platforms. All with flexible and customisable offers to meet the needs of families and businesses, on platforms accessible from a range of devices. TIM is included in the major international sustainability indexes and is committed to becoming the leading telco in the Eurozone in terms of sustainability and social responsibility. The Group includes TIM Brasil, one of the leading players on the Brazilian market; Sparkle, an international service provider and one of the top ten global operators worldwide, with a 540,000 km fibre network extending across Europe, the Americas, Africa and Asia; Olivetti, which operates in key sectors such as the Internet of Things and offering cutting-edge hardware and software.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$100bn 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 670 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 around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT CANSON CAPITAL PARTNERS

Capital Partners is a leading alternative capital-focused Advisory and Merchant Banking firm. The company specialises in identifying alternative solution capital to develop strategic partnerships with businesses. Since 2017, Canson Capital Partners has advised on private equity-related transactions with an aggregate transaction value of over $54 billion.

Visit website

List of participants

  • Ardian Advisors:

    • Financial Advisor to the consortium led by Ardian: Nomura
    • Merchant Bank to the consortium led by Ardian: Canson Capital Partners
    • Financial Advisors to Ardian: Mediobanca and Vitale&Co
    • Legal Advisors: BonelliErede (Corporate), Legance-Avvocati Associati (Financing), Ashurst (Financing), Arendt (Structuring) and Weil, Gotshal & Manges (Governance at consortium level)

  • TIM Advisors:

    • Financial Advisors: Goldman Sachs International, BofA Securities
    • Legal Advisors: Gianni, Origoni, Grippo, Cappelli & Partners

Press Contact

TIM

@TIMnewsroom

+39 06 3688 2610

ARDIAN – Image Building

CRISTINA FOSSATI, LUISELLA MURTAS

ardian@imagebuilding.it +39 02 8901 1300

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Netwrix Receives Majority Investment From TA Associates

TA associates

Netwrix to use the investment to grow its portfolio of data security solutions to support current customers and to expand globally.

IRVINE, CA – Netwrix, a cybersecurity vendor that makes data security easy, today announced that TA Associates (“TA”), a leading global growth private equity firm, has completed a majority investment in the company. TA, together with the Netwrix executive management team, plan to accelerate Netwrix’s growth as the company aims to expand its portfolio of easy-to-use data security solutions to its customers globally. Members of Netwrix senior management and existing Netwrix investor Updata Partners will invest alongside TA, and will maintain a significant equity interest in the company. Financial terms of the transaction were not disclosed.

“Netwrix is thrilled to be working alongside TA as we enter our next phase of growth,” said Steve Dickson, chief executive officer of Netwrix. “The partnership with TA will provide Netwrix access to the firm’s global add-on acquisition origination and integration capabilities and deep experience in the security and horizontal application software markets, which we believe will position us for substantial organic and inorganic growth.”

While able to scale to the unique needs of large enterprises, Netwrix’s business model is ideal for the mid-market, which is defined as organizations with 500 to 10,000 employees. This underserved segment is in need of easy-to-use data security solutions to address growing security and privacy concerns. Until recently, governmental regulations, such as Sarbanes-Oxley, applied only to larger enterprises. However, with the growing number of privacy regulations, such as the GDPR and the CCPA, organizations of all sizes, including mid-market businesses, must take data security seriously.

“With its powerful, easy-to-use products and streamlined business model, Netwrix has become a leading provider of data security products for the mid-enterprise market,” said Michael Libert, a senior vice president at TA Associates. “Netwrix has an abundance of security, audit and compliance experience and more than 7,000 paying organizations that are deriving value from their experience with Netwrix.”

“Given the ongoing growth in the global data security market, we see ample new business opportunities for Netwrix,” added Harry Taylor, a managing director at TA Associates. “We are pleased to partner with Netwrix’s management team, alongside Updata Partners, and to collaborate on the company’s continued profitable growth.”

“It has been a pleasure working with the Netwrix team for the past three years and aiding in the company’s impressive and transformative growth,” said Jon Seeber, a general partner at Updata Partners. “With what we believe to be superior products and services, Netwrix has become a valued provider in security and compliance. We are pleased to welcome TA as an investor, and to continue our partnership with Netwrix.”

Joining the Netwrix board in conjunction with this transaction are Michael Libert, Harry Taylor and Amit Jain of TA Associates; and independent directors Dan Mayleben, chief executive officer at 2ndWave Software, and Matt Dircks, chief executive officer at BeyondTrust. They join existing board members Jon Seeber of Updata Partners, independent director Brian Turner and Steve Dickson of Netwrix.

About Netwrix
Netwrix makes data security easy, thereby simplifying how professionals can control sensitive, regulated and business-critical data, regardless of where it resides. More than 10,000 organizations worldwide rely on Netwrix solutions to secure sensitive data, realize the full business value of enterprise content, pass compliance audits with less effort and expense, and increase the productivity of IT teams and knowledge workers.
Founded in 2006, Netwrix has earned more than 150 industry awards and been named to both the Inc. 5000 and Deloitte Technology Fast 500 lists of the fastest growing companies in the U.S.
For more information, visit www.netwrix.com.

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 90 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

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Clarivate Completes Acquisition of CPA Global to Form a Global IP Powerhouse

Castik Capital

01.10.2020

Extract from original press release https://clarivate.com/news/clarivate-completes-acquisition-of-cpa-global-to-form-a-global-ip-powerhouse/

 

Clarivate Plc (NYSE: CCC), a global leader in providing trusted information and insights to accelerate the pace of innovation, announced today the completion of the previously announced acquisition of CPA Global, creating an intellectual property (“IP”) powerhouse.

[…]

Clarivate will now offer thousands of law firms and corporate customers world class IP solutions from leading brands covering patent and trademark research solutions, expanded IP services capabilities, IP management and renewal solutions and domain management, all underpinned by extensive human expertise, unparalleled data and powerful technology.

[…]

Together, CPA Global and Clarivate will form a true end-to-end solution that covers the entire innovation and IP lifecycle – from scientific and academic research to IP portfolio management and protection. The proposed combination of market-leading intellectual property software, data, technology and services will provide customers with seamless access to richer content and broader capabilities as they execute on their innovation and IP strategies.*

In connection with the transaction, former CPA Global shareholders (including Leonard Green & Partners along with funds advised by Castik Capital and Partners Group) received approximately 217 million Clarivate ordinary shares, representing 35% pro forma fully diluted ownership of Clarivate.

[…]

*Extract from https://www.castik.com/news/news-detail/clarivate-to-combine-with-cpa-global-creating-a-world-leader-in-intellectual-property-information-and-service

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Rotunda Capital-Backed Trinity3 Technology and FireFly Computers Unite to Serve the K-12 Tech Market

Rotunda Capital Partners

ST. PAUL, Minn.–(BUSINESS WIRE)–Trinity3 Technology and FireFly Computers are pleased to announce that the two companies are merging, effective today. Financial terms of the transaction were not disclosed.

This merger unites two leading providers of technology solutions to the K-12 market and will be led by Scott Gill, currently president and chief executive officer of Trinity3. Both businesses are based in Minnesota and will retain existing operating locations in St. Paul and Arden Hills.

“While we are focused foremost on computing device availability for school districts and students across the U.S. this fall, I am excited by the combination of our two teams and the positive impact it will have on our ability to deliver a uniquely superior customer experience in the years ahead,” said Gill.

“FireFly and Trinity3 coming together feels like a perfect union in so many ways, and I believe it will create something special and unparalleled in the K-12 market.” said Kari Phillips, former CEO of FireFly. “It’s been an absolute honor to lead FireFly to this point, and I can’t wait to see what we achieve together as a unified team, at a time schools need us more than ever.”

The combined company will continue to be a Rotunda Capital Partners portfolio company, following Rotunda’s acquisition of Trinity3 Technology last year. Rotunda provided additional equity capital for the merger, alongside investments by Kari Phillips and Devang Shah from FireFly, who will both join the combined company board in non-executive roles.

“We are excited to back the united Trinity3/FireFly team and create one of the largest K-12 technology focused platforms in the U.S.,” said John Fruehwirth, managing partner at Rotunda Capital Partners. “The unique scale of the combined firm will further enhance service levels while reducing total cost of IT ownership for school districts by combining our device knowledge, deployment services, and customized comprehensive multi-year warranty programs.”

About FireFly Computers

From its start, FireFly Computers built its identity in the K-12 market as a vendor focused on solving customer pain points. This solution-oriented mindset naturally grew into a public mission of “Hassle-Free, Worry-Free Technology.” With customer experience always at the forefront, FireFly has developed services and conveniences found nowhere else and has established itself as a key player in delivering affordable, high-quality computing technology to schools and government. The level of excellence FireFly has achieved has everything to do with an internal culture of being “supportive, evolving, and fun.” Over the years, FireFly has helped thousands of technology directors succeed in putting more devices in the hands of more students as their truly committed partner in education technology. For more, visit www.fireflycomputers.com

About Trinity3 Technology

Trinity3 Technology is wholly immersed in serving the technology needs of the education market. The company offers custom solutions—including student computing, warranty services and enterprise products—to suit each customer’s unique needs. Backed by an experienced team of sales, support, and technical professionals, Trinity3 delivers exceptional value to educational institutions. What makes Trinity3 Technology unique is not just the products and services offered but the people who stand behind them. For more, visit www.trinity3.com

About Rotunda Capital Partners

Rotunda Capital Partners is a private equity firm that invests equity capital in established, lower middle market companies. Rotunda Capital partners with management to build data-driven growth platforms within its targeted sectors, including value added distribution, asset light logistics, industrial/business services and specialty finance/insurance services. Founded in 2009, the firm has a long history of helping management teams achieve their goals for growth. The Rotunda Capital team actively provides guidance and draws on deep industry and financial relationships to contribute to the successful execution of Rotunda’s companies’ strategic plans. For more, visit www.rotundacapital.com

Contacts

Scott Gill
Trinity3 Technology | FireFly Computers
(651) 888-7922
sgill@trinity3.com

Jill Lafferty
Rotunda Capital Partners
(847) 280-1295
jill@rotundacapital.com

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