Capsule Technologies To Be Acquired by Philips

Franciso Partners

Francisco Partners, a leading global investment firm that specializes in partnering with technology and healthcare businesses, announced today the pending sale of Capsule Technologies, Inc. (“Capsule”) to Royal Philips (“Philips”) for $635 million in cash consideration.

Francisco Partners’ investment in Capsule helped support the company’s growth and expansion across medical device integration, patient monitoring, and clinical surveillance solutions. Founded in 1997, the company has grown to serve over 2,800 hospitals and healthcare organizations in 40 countries, impacting over 20 million patients annually.

“It has been a pleasure to partner with Capsule’s management team to help grow this important business,” said Chris Adams, Partner at Francisco Partners. “Capsule is a key enabler of the digital hospital, and we have been especially proud of how impactful it has been in supporting global healthcare organizations with the challenges of COVID-19. The team has delivered exceptional growth through constant customer focus and high-quality service.”

Justin Chen, Principal at Francisco Partners, added, “We are thrilled to have helped the Capsule team build their business. They have been at the forefront of delivering mission critical and innovative healthcare solutions to liberate medical data and improve patient safety. The company is in a tremendous position, and we wish the team continued success as a part of Philips.”

Hemant Goel, CEO of Capsule, said, “Francisco Partners has been a supportive strategic partner over the past few years. Their team has been invaluable, executing on the carveout, providing thought leadership, and investing into the business to help us grow rapidly and build an enduring and strategic position. We are very proud of what the entire Capsule organization and employees have been able to accomplish together. We are excited to join Philips and continue our mission of empowering clinicians with simplified workflows and timely, actionable insights.”

Philips and Capsule are long-term partners jointly offering solutions to healthcare organizations globally. The companies share similar values and ambition to improve patient outcomes. The pending acquisition by Philips will allow both companies to enhance the value they provide to their customers and patients. The transaction is subject to certain closing conditions, including regulatory clearances in relevant jurisdictions outside of the U.S., and is expected to be completed in the first quarter of 2021. The company with its leadership team and approximately 300 employees will become part of Philips’ Connected Care segment.

Barclays served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Capsule Technologies.

About Capsule Technologies

Capsule Technologies is a leading global provider of medical data technologies for hospitals and healthcare organizations. Our Medical Device Information Platform — comprised of device integration, vital signs monitoring, and clinical surveillance solutions — captures streaming clinical data from connected systems and transforms it into context-rich information for clinical documentation, alarm management, patient surveillance, decision support, predictive analytics, clinical research and more. End-to-end data management and connectivity supports better collaboration and communication between clinicians and departments. More than 2,800 global clients leverage our platform to improve patient safety, simplify workflows and raise overall satisfaction throughout the hospital and across care settings. Learn more at www.capsuletech.com.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch more than 20 years ago, Francisco Partners has raised over $24 billion in committed capital and invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

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bonify acquires loan brokerage software from Joonko AG

Mouro Capital

Berlin-based fintech bonify, Germany’s leading credit rating platform, has acquired the credit brokerage software of Joonko AG. With this acquisition, bonify optimises the distribution and brokerage of consumer loans on its online platform.

With the acquisition of the credit brokerage software, bonify is taking consumer lending to a new level. “By integrating Joonko’s technology, bonify users can apply for a loan and realise long-held dreams faster and easier than ever before”, commented Dr. Andreas Bermig, co-founder of bonify. “The process, starting with the loan comparison and ending with the signing of the contract, takes place completely digitally in just a few minutes”. The new loan brokerage software is expected to be in place as early as spring 2021.

Lending gets faster, easier and completely digital

Anyone who has ever applied for a loan in Germany knows how inconvenient and lengthy the process can be. Discussions and appointments with the bank, the submission of documents such as proof of salary and creditworthiness, as well as the cumbersome verification on site or via PostIdent procedure unnecessarily drag out the application. With the digital account view, the process is optimised and digitalised. “A large part of the more than one million bonify users have already linked their bank account with their own bonify account. The connection enables us to suggest credit offers to our users that are perfectly tailored to their financial situation”, explains Bermig.

The use of the new technology eliminates the need to upload, print and send in documents. Identification and signing are conveniently carried out online. Thanks to the Videoident and eSign processes, the loan application can be completed in just a few minutes from the comfort of your home. All that is needed is an official identification document, such as an ID card, and a video camera. The loan is paid out a few days after the loan agreement has been processed.

bonify – Forteil GmbH | Reichenberger Straße 124 | Aufgang B-5 | 10999 Berlin presse@bonify.de | +49 30 346 466 709

About bonify

The FinTech start-up bonify enables consumers to gain transparency on both credit score and on financial situation. bonify enables users to check their credit score online at any time and free of charge. In addition, bonify offers various financial management tools for the analysis and optimisation of their financial situation. Based on this, users receive product offers tailored to their own creditworthiness – including loans and offers for gas, electricity, or DSL internet. Other free products include ‘tenant information’ for finding accommodation and ‘FinFitness’ for assessing and actively improving financial health. bonify was founded in Berlin in 2015 and is managed by Dr. Gamal Moukabary (Founder), Dr. Andreas Bermig (Founder), Raj Cheemakurti (CPTO), Frank Stowasser (VP Marketing) and Sarah Schuster (VP Growth & Customer Engagement). The startup currently employs more than 30 people from over 15 nations. Renowned investors such as Experian, Santander InnoVentures, Mosaic Ventures, Ribbit Capital, Index Ventures and DN Capital as well as the founders of Zalando and Raisin have so far invested in bonify. bonify is an account information service approved and supervised by the German Federal Financial Supervisory Authority (BaFin). Learn more at ​www​.bonify.de.

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ECI announces investment in CIPHR

ECI

We’re delighted to announce our investment in CIPHR, a leading UK provider of HCM solutions. The investment will support CIPHR to accelerate its ambitious growth and development plans.

CIPHR is a specialist provider of Software-as-a-Service (SaaS) HR, payroll, recruitment and learning software which connects businesses with their employees via an online platform, CIPHR Connect.

The business’ marketplace offering allows its proprietary HR software to be integrated with customers’ existing tools, taking the strain out of HR admin and improving data accuracy. CIPHR supports 300,000 employees across 50 countries globally, with customers including the Met Office, Natural History Museum and Volkswagen.

The investment marks ECI’s fifth investment in 2020. ECI’s previous investments in the SaaS space include Mobysoft, CPOMS, and Fourth.

Chris Berry, CEO, CIPHR comments: “We’re absolutely delighted to be working with ECI as our investment partner for the next stage in CIPHR’s journey. Through our people management platform, CIPHR Connect, we have established ourselves as the UK’s leading mid-market provider of SaaS HCM for organisations who want to integrate their people management software with other, best-of-breed technologies. We have ambitious plans to develop new solutions, broaden our partner offering, cultivate and expand our team of outstanding people, and continue to deliver exceptional products and services that help our customers to manage the entire employee lifecycle more effectively. Our partnership with ECI will help CIPHR to realise these goals.”

Stephen Roberts, Partner at ECI, said: “CIPHR is a high growth business whose services have only become more vital over the course of 2020. We are excited by the opportunity that CIPHR has to strengthen its position in the HCM market, both organically and through M&A. The management team is highly experienced with a proven track record of achieving growth and developing innovative solutions to meet the increasingly complex demands of mid-market organisations. As an experienced software investor, we’re delighted to partner with Chris and the team and look forward to supporting them over the next stage of CIPHR’s journey.”

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inRiver Acquires Detail Online and Powers the Only “Digital-First PIM” Solution

Verdane Capital

Advanced analytics capabilities help solve the revenue challenges industrial manufacturing, retail, and e-commerce teams face in 2021

CHICAGO and MALMÖ, Sweden – – (January 18, 2021) – inRiver, the solution that empowers organizations to deliver revenue-driving product information management (PIM) across every customer touchpoint, today announced the acquisition of Detail Online, an AI-powered analytics solution to help brands monitor product information across multiple online channels. The acquisition helps power the only digital-first PIM™ solution that drives faster time-to-market and better buying experiences by leveraging the insights needed to optimize content performance and remedy channels or products that are underperforming in real-time.

Commerce today needs to be faster and more agile than ever before to beat the global competition. The acquisition of Detail Online means inRiver’s solution helps bring to life compelling product stories for highly customized products, obtain actionable guidance on what influences buying decisions, and adapt quickly to implement insights.

The Detail Online solution also delivers insights into critical elements including out of stock issues and poor product visibility that impact the ability to sell. Both B2B and B2C organizations can now turn product information into strategic assets to drive revenue.

 

“The addition of Detail Online is an exciting move for our two organizations and offers exceptional analytics capabilities to the inRiver solution,” said Thomas Zanzinger, CEO, inRiver. “We are building a new generation of a product information management solutions to help our customers generate revenue.”

“We are excited about joining the inRiver team,” stated Joakim Gavelin, CEO, and co-founder, Detail Online. “The world of digital commerce is changing faster than ever before and engagement intelligence plays a significant role in understanding how and where to sell more products. The combined solution helps to solve tomorrow’s commerce challenges.”

The acquisition brings the number of global inRiver employees to more than 240 and provides an entry into the APAC region. The combined organization will further strengthen global customer service and support to serve customers worldwide.

 

About inRiver

inRiver empowers organizations to deliver revenue-driving product information at every touchpoint. inRiver’s digital-first PIM™ enables organizations to bring compelling product stories to life for highly customized purchases, obtain actionable guidance on what influences buying decisions, and then quickly adapt to put insights into action. inRiver helps B2B and B2C organizations turn product information into strategic assets to drive revenue for over 1,500 brands and 500 customers globally. Headquartered in Malmö, Sweden, inRiver has offices in Chicago and Amsterdam. For more information, visit inRiver.com

 

About Detail Online

Detail Online helps brand manufacturers take control of their product visibility in online reseller channels worldwide. Detail Online’s AI-powered technology audit reseller activity and takes the guesswork out of digital merchandising by delivering insights that are granular, highly accurate and immediately actionable. Detail Online do daily audits at 1000 retailer websites and Marketplaces globally, across 76 countries. Headquartered in Stockholm, Sweden, with a large Technology Centre located in Davao in the Phillipines. For more information, visit Detail Online.

 

Press contacts

For US
Erika Goldwater
Erika.goldwater@inriver.com
+1 617 407 3578

For EMEA
Katja Doemer
Katja.doemer@inriver.com
+49 151 52846868

 

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Breens Network acquires Educator

Capital-A

AMSTERDAM, 17 JANUARY 2021 – With the recent acquisition of software developer Educator, Breens Network has strengthened its position as a provider of secure and reliable educational working and learning environments which allow students, staff, teachers and managers to maximise the efficiency of their digital infrastructures and achieve maximum result in supporting personal development.

– Acquisition of Educator strengthens Breens Network’s digital working and learning solution.
– Expanding the range of integrated digital solutions to improve life long learning and personalized education.
– Strengthens the position of Breens Network in their mission to unburden education by offering support in their digital transformation to a secure digital working and learning environment

Breens Network was originally set up from the ambition of innovating the Dutch educational system through the implementation of new and established technologies. In our day and age, entire generations of students, teachers, staff, managers and directors are experiencing the transition from physical to digital, a process taking place within a dynamic environment which requires increased management of ongoing professionalisation, personalised learning from the cloud and socially relevant curricula, with safety and privacy also calling for new levels of attention. At the same time, there are several other challenges as well, due to the shortage of teachers, high workloads and overcrowded classrooms.
Breens Network, the new name for what was formerly known as Kofschip Groep, is a Dutch EdTech organisation, committed to the field of education and everything related to learning and teaching. Our primary objective is to support our customers in dealing with the process of digital transformation, helping them to increase their effectiveness, the quality of their output, their (cost) efficiency and the flexibility of their organisations. In doing so, we operate from the vision that the technology and advice we provide, unambiguously contribute to our customers achieving their organisational or personal targets. With the ultimate goal of making life as easy as possible for the educational institutions we support.

“Breens Network’s strength is a result of its total commitment to the field of education and the concept of lifelong learning. Now more than ever, there is a profound need for guidance and advice, for development, implementation and management. In short, there is a need for trust. The acquisition of Educator marks a significant broadening of our range of services and a substantial reinforcement of our working and learning environment, particularly in terms of its safety and reliability.”
Geert-Jan van der Snoek
CEO Breens Network

Educator was created in 2005, as part of the Putten-based Vanenburg Group, a family-owned investment group founded by Jan Baan. “We started Educator 15 years ago from our vision of ‘lifelong learning’. Today, we represent a highly innovative and market-leading software platform with its own dedicated SIS solution, a Student Information System for the education industry”, explains Paul Baan, speaking for the Vanenburg Group. “We see Breens Network is the ideal long-term partner, perfectly positioned to leverage the strength of Educator in providing a robust solution and driving advanced digitisation, unburdening of educational institutions and exploring additional opportunities in decentralised government and other markets.” “It allows us to focus more on our fast-growing software activities in the field of ERP optimisation, while also expanding the exploitation of Vanenburg Castle as a hotel, restaurant, convention centre and wedding venue.”

Educator is a developer of software applications for educational and decentralised government institutions, contributing, with the solutions it offers, to well organised schooling and effective student support. This way, the organisation has, since as early as 2005, broadened the options for personalised education. Committed to reliable and consistent development and management of software to help continuously improve and redefine the key processes of its customers. It makes Educator one of the most innovative Dutch software developers in the industries of education and healthcare and the market of decentralised government.

For Educator, joining the Breens Network organisation opens up new and improved opportunities for growth and a broadening of the options offered by the digital working and learning environment. “Our educational solutions, like the Student Information System, the Education Catalogue and the Study Guide, are an excellent addition to the products and services offered by Breens Network. Together, we can be successful in further strengthening our position in the market for digital working and learning environments. It also allows us, in cooperation with our customers, to speed up the ongoing process of re-innovating our solutions, while the operational scope of the Breens Network organisation provides the communities we serve with the certainty of continuity. This is all very good news, both for our customers and for the employees of Educator”, says Jan Jaap Kanis, General Director of Educator. “One of the key challenges educational institutions are facing, is adequately, proactively and flexibly meeting students’ requirements. To be able to do this, what you need is not only a partner who can offer practical know-how, you need a partner who can create cooperation and encourage the sharing of knowledge.”

About Breens Network

Breens Network was originally set up from the ambition to innovate by using both new and established technologies. Today, with SLBdiensten, IT-Workz, Slim.nl, MBOwebshop.nl, Slimindeklas.nl and Breens.nl, the organisation offers a distinctive and distinguishing brand portfolio. Breens Network is a Dutch ICT-organisation, committed to its customers in education, healthcare and decentralised government. It is our goal to support them in the process of digital transformation, helping them to increase their effectiveness, the quality of their output, their (cost) efficiency and the flexibility of their organisations. Operating, as we do, from the vision that the technology and advice we provide, unambiguously contribute to our customers achieving their organisational or personal targets. And making the best possible use of our extensive digital and technological expertise, complemented with in-depth knowledge of the markets we operate in. The professionals employed by our organisation are a guarantee for effective and excellent partnerships. Together, they look after the needs of over one million students, 90,000 teachers, 40,000 staff members and virtually all of the Dutch schools in higher and secondary vocational education. Focus, in Breens Network’s operations, is on four central areas of competence: the digital working (and learning) environment, cloud migration & management, IT Security and Business Intelligence data apps. The company employs a total of 160 enthusiastic professionals. Its head office is in Amsterdam.

About Educator

Educator develops software applications for educational and decentralised government institutions, contributing, by doing so, to well-organised schooling and effective student support. This way, the organisation has, since as early as 2005, broadened the options for personalised education. From demand management and flexibilisation to formative evaluation, Educator has seen many new trends in the education industry. And through it all, by continuing to communicate with the institutions we have been working with over the years, we have become a genuine education partner, offering valuable practical expertise. The communication we have with the institutions we support, takes place on all levels of the organisations, covering operational, tactical and strategic issues. Apart from this, we actively promote dialogue between educational institutions in various forms of consultation forums, like user groups, steering committees and an Advisory Board. Here, we discuss not only topics related to our software and its ongoing development, but also the future of education in general and the role Educator can continue to play in particular.
Educator products are being used on a daily basis by thousands of students and educational professionals in secondary education, high schools, third level education and private schools. One example of the widely used Educator applications is the Student Information System, a tool allowing students, counsellors and other interested parties to monitor progress in the acquisition of skills and competencies. There is also a dedicated Educator design tool, which lets educational staff create and analyse optimally coherent education programs. And for easy documentation and presentation of these programs, Educator offers the Education Catalogue tool.

About Vanenburg Group

Vanenburg Group is a family-owned investment group established by Jan Baan, Chairman of Vanenburg Group, founder of Baan Company and Cordys and a successful investor in TopTier and WebEx. Today, operational executive authority is shared by a second-generation management team, consisting of the three brothers Paul, Ardjan and Bernhard Baan. As a software provider, Vanenburg assists large and medium-sized businesses in updating their IT-infrastructures by developing innovative ERP extensions & integrations. Vanenburg Group employs a staff of over 100 expert professionals in The Netherlands and India. The company operating from the authentic17th century Vanenburg Castle and Estate, located near the city of Putten in the Dutch province of Gelderland. This unique location also serves as a hotel, restaurant, convention centre and wedding venue.

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Oqton raises $40M Series A financing round

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Fortino Capital

Ghent, Belgium / San Francisco, USA – Oqton, Inc., the U.S.- and Belgium-based software company specialising in AI-powered solutions for the manufacturing industry, today announces that it has raised over $40M in a Series A financing round, led by Fortino Capital, a leading B2B software investor, by PMV, the regional Flemish investment fund, and by Sandvik, a global engineering group. The founding team (Samir Hanna and Ben Schrauwen) and several angel investors, including Carl Bass (former CEO Autodesk), Dries Buytaert (Drupal and Acquia), and Peter Mercelis (Layerwise) also participated in the round. The financing will be used to further develop its platform, while expanding its commercial partnerships in multiple domains and verticals (Additive manufacturing, Robotic welding, CNC machining).

Oqton’s platform is unique in that it combines several manufacturing software capabilities (CAD, PLM, CAM, IOT, MES, QMS) into a single platform, enabling an unprecedented degree of AI-powered automation and optimization. Users can automatically capture expert knowledge and eliminate repetitive tasks, access technologies remotely and across multiple sites, and optimize production planning to improve utilization and quality.

Samir Hanna, Oqton’s Co-Founder and Chairman, said: “We can already achieve 100% automation in the dental and jewelry verticals, resulting in 30% overall cost reduction. Given the platform strategy, the software can be targeted to many specific industry verticals, like dental, jewelry, medical, industrial and aerospace, as well as to different personas and workflows within those industries.”

Being fully integrated, users can also link the platform to their traditional technologies, such as CNC, welding, and post-processing machines for a truly end-to-end manufacturing solution, making their processes faster, more adaptable, and more cost-effective. Oqton has already established partnerships with EOS, Sisma, Trumpf, Prodways and Sandvik.

Oqton’s Co-Founder and CEO, Ben Schrauwen, said: “We are keen to have new investors on board who can help us scale globally, with both a direct and indirect sales approach. We truly think the time has come for the manufacturing space to embrace the cloud and we are working hard to facilitate this.”

This funding round coincides with the announcement that Ben Schrauwen, Oqton’s CTO, will be taking over as CEO. Samir Hanna, Oqton’s Co-Founder and leaving CEO, will become Executive Chairman.

More on Oqton in today’s article in Belgian newspaper De Tijd (Dutch version only).

About Oqton
Oqton develops AI-powered manufacturing solutions to allow manufacturers to manage, optimize, and automate their additive manufacturing workflows. Their software offering is a secure, cloud-based platform that links data across the complete manufacturing ecosystem – from design to production to logistics. Founded in San Francisco, Oqton is based in Ghent, Belgium, with offices in the US, China and Denmark.

About Fortino Capital Partners
Fortino Capital Partners is a Benelux-focused enterprise software investor with a pan European reach. Fortino Capital invests in both Venture Capital and Growth private equity assets. With offices in Antwerp and Amsterdam, Fortino Capital’s investment portfolio includes Teamleader, Insided, MobileXpense, Efficy CRM, Sigma Conso and iObeya among others.

About PMV
PMV is a do and dare company that shapes the economic future of Flanders. PMV finances promising companies from the very start to growth and internationalization. PMV offers tailor-made financial solutions for every entrepreneur with a solid business plan and a strong management team, by providing venture capital, loans and guarantees. An experienced and highly motivated team of 125 professionals endeavors every day to achieve the goal of creating prosperity and well-being in Flanders. PMV has a portfolio of about € 1.3 billion in assets under management.

About Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. Sandvik holds world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2019, the Group had approximately 40,000 employees and revenues of about 100 billion SEK in more than 160 countries within continuing operations.

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ThoughtWorks Receives $720 Million Investment at an Enterprise Value of $4.6 Billion

Apax

14 January 2021

January 14, 2021 Chicago – ThoughtWorks, a global software consultancy today announced that GIC, Siemens AG, Fidelity Management and Research LLC, and Mubadala Investment Company have invested $720 million in the company.

ThoughtWorks Receives $720 Million Investment at an Enterprise Value of $4.6 Billion

Founded over 25 years ago, ThoughtWorks has grown from a small team in Chicago to a leading global software consultancy of more than 7,000+ ThoughtWorkers. Its roots are in digital transformation and agile software development and the company has been at the forefront of defining the tech principles used by some of the world’s most successful organizations.

The proceeds will be used to repurchase equity from existing investors. The new commitment of capital comes as the company continues to invest in growth and international expansion.

“This placement is a very positive indicator of how strong our company and brand are perceived in the market. It’s wonderful that GIC, Siemens, Fidelity and Mubadala see ThoughtWorks to be a strong investment and this is an endorsement of the strength and relevance of our business and people”, said Guo Xiao, president and chief executive officer, ThoughtWorks.

“Since partnering with ThoughtWorks in 2017, the company has gone from strength to strength – accelerating growth and profitability and transforming to be world class in a highly strategic global market. ThoughtWorks’ talented employees, global footprint and reputation for technical excellence make it a standout offering in the rapidly evolving digital transformation space”, said Rohan Haldea, partner at Apax. “We welcome GIC, Siemens, Fidelity and Mubadala Investment Company as additional investors to support the company’s growth strategy.”

“Siemens strongly believes in the growth potential of supporting the digitalization of businesses across all industries. We believe that ThoughtWorks is the right partner with outstanding capabilities. I am proud of our investment to jointly accelerate digital transformation,” said Cedrik Neike, managing board member of Siemens, responsible for Digital Industries and Siemens Advanta.

“As the clear market leader in digital transformation, ThoughtWorks’ long term growth prospects were key to our investment decision. The company’s unique offerings are pivotal to the digitization of many businesses which we see accelerating in 2021 and beyond,” said Tim Breen, executive director, Technology at Mubadala.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC served as placement agents to ThoughtWorks in connection with this transaction. Kirkland & Ellis LLP acted as legal advisor to ThoughtWorks.

This press release is for informational purposes only and shall not constitute, or form a part of, an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities.

About ThoughtWorks
We are a software consultancy and community of passionate purpose-led individuals, 7000+ people strong across 46 offices in 15 countries. Over our 25+ year history, we have helped our clients solve complex business problems where technology is the differentiator. When the only constant is change, we prepare you for the unpredictable.

About Apax Partners LLP
Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About GIC
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. Headquartered in Singapore, GIC has investments in over 40 countries and employs over 1,700 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.

About Siemens
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. Active around the world, the company focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process and manufacturing industries. Siemens brings together the digital and physical worlds to benefit customers and society. Through Mobility, a leading supplier of intelligent mobility solutions for rail and road transport, Siemens is helping to shape the world market for passenger and freight services. Via its majority stake in the publicly listed company Siemens Healthineers, Siemens is also a world-leading supplier of medical technology and digital health services. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power that has been listed on the stock exchange since September 28, 2020. In fiscal 2020, which ended on September 30, 2020, the Siemens Group generated revenue of €57.1 billion and net income of €4.2 billion. As of September 30, 2020, the company had around 293,000 employees worldwide. Further information is available on the Internet at www.siemens.com.

About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.

Mubadala’s $232 billion (AED 853 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.

Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing. For more information about Mubadala Investment Company, please visit: www.mubadala.com.

Contact
Reyne Quackenbush
rquacken@thoughtworks.com
M 732-261-7420

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Priveq invests in IMI – a leading niche provider of supply chain software

Priveq

Priveq Investment is the new majority owner of Industri-Matematik International AB (“IMI”), a leading provider of mission-critical supply chain software headquartered in Linköping, Sweden. The IMI software solutions play a central role in automating and streamlining key workflows and are targeted to customers dealing with the largest and most complex distribution networks.

 Since the foundation in 1967, IMI has been designing and integrating configurable solutions that transform high-volume distribution of fast-moving goods into a competitive advantage for international and market leading trading companies. Today the software handles over 1 billion order lines annually and IMI´s customers include some of the largest wholesale distributors, grocery stores, pharmaceutical retail chains and 3PL companies in the Nordics, in Europe and in North America. IMI has more than 80 employees and generated revenues of around SEK 170m in 2020.

“Priveq has followed IMI’s development for several years and we are very excited to now invest as well as partner up with management to accelerate growth. We are impressed by IMI’s strong customer offering and close relationships, which provides a stable foundation for continued expansion with existing as well as new customers“, says Senai Ayob, Partner and Investment manager at Priveq.

“With Priveq as the new owner we will increase investments in our software, sales and marketing, and our team. This will strengthen our market position further and help our customers to develop a more efficient and sustainable supply chain“, says Niklas Rönnbäck, CEO at IMI.

Priveq was advised by Setterwalls, Deloitte, Cupole and Omegapoint in connection with the transaction.

For more information, please contact:

Senai Ayob, Partner Priveq
+46 70 459 23 61
senai.ayob@priveq.se

Niklas Rönnbäck, CEO IMI
+46 70 553 19 99
niklas.ronnback@im.se

About IMI
IMI is an international software development company with offices in Sweden and clients extending 18 countries. By combining forces to untangle complex distribution challenges, our devoted and experienced team of experts develop and deliver scalable solutions that improve control, efficiency and profitability across global supply chain operations. This in-house competence makes us an effective and flexible partner throughout the development journey for our clients in the fast-moving goods, retailing, wholesale distribution, and 3PL industries. The core of what we do is to ensure that trading companies can deliver on their promises every time – today and for years to come. With an astounding 99.9 % uptime, IMI’s supply chain systems expedite more than one billion order lines per year for 10,000 users across 200 warehouses.

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ThoughtWorks Receives $720 Million Investment at an Enterprise Value of $4.6 Billion

Apax

14 January 2021

January 14, 2021 Chicago – ThoughtWorks, a global software consultancy today announced that GIC, Siemens AG, Fidelity Management and Research LLC, and Mubadala Investment Company have invested $720 million in the company.

Founded over 25 years ago, ThoughtWorks has grown from a small team in Chicago to a leading global software consultancy of more than 7,000+ ThoughtWorkers. Its roots are in digital transformation and agile software development and the company has been at the forefront of defining the tech principles used by some of the world’s most successful organizations.

The proceeds will be used to repurchase equity from existing investors. The new commitment of capital comes as the company continues to invest in growth and international expansion.

“This placement is a very positive indicator of how strong our company and brand are perceived in the market. It’s wonderful that GIC, Siemens, Fidelity and Mubadala see ThoughtWorks to be a strong investment and this is an endorsement of the strength and relevance of our business and people”, said Guo Xiao, president and chief executive officer, ThoughtWorks.

“Since partnering with ThoughtWorks in 2017, the company has gone from strength to strength – accelerating growth and profitability and transforming to be world class in a highly strategic global market. ThoughtWorks’ talented employees, global footprint and reputation for technical excellence make it a standout offering in the rapidly evolving digital transformation space”, said Rohan Haldea, partner at Apax. “We welcome GIC, Siemens, Fidelity and Mubadala Investment Company as additional investors to support the company’s growth strategy.”

“Siemens strongly believes in the growth potential of supporting the digitalization of businesses across all industries. We believe that ThoughtWorks is the right partner with outstanding capabilities. I am proud of our investment to jointly accelerate digital transformation,” said Cedrik Neike, managing board member of Siemens, responsible for Digital Industries and Siemens Advanta.

“As the clear market leader in digital transformation, ThoughtWorks’ long term growth prospects were key to our investment decision. The company’s unique offerings are pivotal to the digitization of many businesses which we see accelerating in 2021 and beyond,” said Tim Breen, executive director, Technology at Mubadala.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC served as placement agents to ThoughtWorks in connection with this transaction. Kirkland & Ellis LLP acted as legal advisor to ThoughtWorks.

This press release is for informational purposes only and shall not constitute, or form a part of, an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities.

About ThoughtWorks
We are a software consultancy and community of passionate purpose-led individuals, 7000+ people strong across 46 offices in 15 countries. Over our 25+ year history, we have helped our clients solve complex business problems where technology is the differentiator. When the only constant is change, we prepare you for the unpredictable.

About Apax Partners LLP
Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About GIC
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. Headquartered in Singapore, GIC has investments in over 40 countries and employs over 1,700 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.

About Siemens
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. Active around the world, the company focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process and manufacturing industries. Siemens brings together the digital and physical worlds to benefit customers and society. Through Mobility, a leading supplier of intelligent mobility solutions for rail and road transport, Siemens is helping to shape the world market for passenger and freight services. Via its majority stake in the publicly listed company Siemens Healthineers, Siemens is also a world-leading supplier of medical technology and digital health services. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power that has been listed on the stock exchange since September 28, 2020. In fiscal 2020, which ended on September 30, 2020, the Siemens Group generated revenue of €57.1 billion and net income of €4.2 billion. As of September 30, 2020, the company had around 293,000 employees worldwide. Further information is available on the Internet at www.siemens.com.

About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.

Mubadala’s $232 billion (AED 853 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.

Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing. For more information about Mubadala Investment Company, please visit: www.mubadala.com.

Contact
Reyne Quackenbush
rquacken@thoughtworks.com
M 732-261-7420

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Symphony Talent Research Finds Most Companies Still Lag in Talent Nurture and Automation Strategies

Stg Partners

NEW YORK and LONDON, JANUARY 14, 2021 Symphony Talent, a recruitment marketing technology company that helps recruiting teams automate tasks and empower interactions, just released its 2021 Recruitment Marekting Strategies Report, based on six years of research on Fortune 500 companies.

“We’ve been able to quantify the growth and investment in recruitment marketing as a necessary discipline since 2015,” said Roopesh Nair, chief executive officer at Symphony Talent. “In this volatile year, it’s clear that the most agile and successful companies were the few that had already established a solid strategy and technology foundation.”

Some of the most prominent businesses in national news due to their impact on and response to the pandemic — like CVS Health, Stryker, and Ecolab — were among the 14% of the Fortune 500 categorized as recruitment marketing pioneers (“A” grades), scoring high in categories like nurture, personalization and initiative hiring.

CVS Health — a company that hired more than 61,000 people this year, including 2,000+ displaced workers from hard-hit industries — took the number one overall spot for the second year in a row due to its leading strategies in employer branding content, talent network communication, and adoption of emerging technology like conversational engagement and candidate relationship management (CRM) automation.

“Our plans for innovation ‒ like utilizing new strategies in our CRM, upskilling the team on tools, improving the candidate experience touchpoints, flipping our recruitment funnel ‒ started long before 2020,” said Kerry Noone, director of employer branding at CVS Health. “When COVID-19 hit, our plans just accelerated, and we continued to grow throughout the pandemic, allowing us to hire pharmacists, pharmacy technicians, and nurses to administer the COVID-19 vaccine as soon as it was available.”

While A-scoring companies are slightly up over six years of research, the vast majority of the Fortune 500 still struggle to utilize technology, effectively communicate with unique talent audiences, and connect the dots across recruiting channels. A few crucial findings include:

  • Companies are trying to use ATSes and/or CRMs to more efficiently connect with talent. 76% of companies now have a talent network or job alerts, up from 57% in 2019.
  • Having a talent network doesn’t mean excelling at talent nurture. Only 54% of companies send any type of communication to people, the majority of which are unpersonalized job reqs.
  • While the use of conversational engagement has almost doubled since 2017, still only 11% of companies utilized a chatbot on their career site.

“I’m extremely excited to see more employers leveraging talent networks to connect with passive candidates in 2020; however, I’m also surprised at the lack of utilization of powerful, intuitive tools that help them communicate to and ultimately hire the right candidates,” Ben Eubanks, principal analyst at Lighthouse Research & Advisory, commented. “I expect the lessons we’ve learned in 2020 will help propel these adoption numbers higher in the coming months.”

The Symphony Talent in-house research team focused on 27 critical recruitment marketing strategies utilized by the Fortune 500 across search, career site, talent network and social media channels from August to November 2020. For the first time, Symphony Talent’s report also looks at a comparison set of companies from the Fortune 50 Fastest Growing.

Download the research report here.

About Symphony Talent

Software that works for you, and you love to work in. Symphony Talent is a recruitment marketing technology company that helps recruitment teams automate tasks for efficiency and empower smarter candidate interactions. Its SmashFlyX platform unifies CRM, career site, and programmatic advertising for the most comprehensive talent campaigning and marketing in the industry. As an employer brand and creative partner, Symphony Talent has won major awards for EVP strategy, employer brand campaigns, career site design, and more. The company supports more than 600 customers across the globe, with headquarters in New York, London, Bangalore, and Belfast. Visit symphonytalent.com to learn more, and follow us on Twitter @SymphonyTalent_ and @SymphonyT_EU.

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