M&A roundup - week ending 12/5/15

Steven Loeb · December 5, 2015 · Short URL: https://vator.tv/n/41d8

Perion Networks acquired Undertone; Welltok bought Silverlink; iMapData merged with PlanetRisk

Perk.com, which provides a rewards platform targeting consumers by giving them rewards for their daily mobile and internet activities, agreed to purchase mobile app development platform Corona Labs.

Under the terms of the transaction Perk will pay CAD $2.0 million (approx. $1.5 million) on closing of the transaction. The company will then pay an additional CAD $1.0 million (approx. USD $0.8 million) over the next 12 months, for a total of $2.3 million.

Corona Labs operates Corona SDK, which allows developers to create cross-platform applications, games and eBooks for iOS, Android, Kindle Fire, and NOOK. It has a community of over 300,000 developers worldwide, and apps created with Corona have been downloaded more than 60 million times within the last year alone and reach over 4 million users daily.

Founded in 2008, the Palo Alto-based Corona Labs had raised $3 million in venture funding from Merus Capital and Western Technology Investment.

Nokia completed the sale of its HERE digital mapping and location services business to a consortium of automotive companies, comprising AUDI AGBMW Group and Daimler AG. The transaction valued HERE at an enterprise value of EUR 2.8 billion.

HERE generated an operating profit of EUR 28 million for the first half of 2015, and an operating loss of EUR 1 241 million for the full year 2014. At the end of June 2015, HERE had 6,454 employees.

The acquisition was originally announced in August.

Atheer, the company beind the new Augmented interactive Reality computing platform, agreed to acquire ONtheGO Platforms, the provider of Ari, a gesture recognition software that turns any mobile device with a standard camera into a gesture interface. No financial terms of the deal were disclosed. 

ONtheGO Platforms technology will be integrated wuth Atheer's gesture, voice and motion tracking-based interactive platform. ONtheGO adds 3 issued and 6 pending patents to Atheer's IP portfolio of gesture interaction and rich visuality technologies, bringing the total to 14 issued patents and nearly 50 additional pending patents.

All of ONtheGO Platforms' employees will be joining the Atheer staff and will continue to operate from Portland

Founded in 2012 and based in Portland, Oregon, ONtheGO Platforms had raised $3.09 million in venture funding from Brad Feld, through his FG Angel Seed Fund, and Paul Kedrosky, through SK Ventures. 

Israeli marketing company Perion Networks acquired digital ad company Undertone. The deal is worth $180 million in cash. That includes approximately $91 million of cash from Perion, an additional $16 million as a holdback, payable in 18 months, $3 million payable in installments over the next 18 months and another $20 million, bearing interest, due in 2020.

For Perion, this acquisition adds relationships with premium brands, agencies and publishers, while also enhancing its mobile footprint and its programmatic capabilities, and also broading its product suite.

Founded in 2002 Undertone had raised $40 million in funding from JMI Equity and ORIX Venture Finance.

Undertone's revenues for the first nine months of 2015 were $104.0 million, and it is expected to see revenue for 2015 in the range of $143 million to $145 million.

Welltok, a consumer health enterprise Platform as a Service company, acquired Silverlink, a healthcare consumer communications company. No financial terms of the deal were disclosed, but it was announced that Welltok had also raised $45 million in funding from Georgian Partners, EDBI and Flare Capital Partners, as well as a number of existing institutional and strategic investors, in order to support part of the acquisition.

Welltok's CafeWell Health Optimization Platform will be combined with Silverlink's proactive engagement technology platform and services. 

Founded in 2001, Silverlink had raised $12.6 million in funding from HLM Venture Partners and Sigma Partners.

Quikr, an Indian cross category classifieds business, acquired realtycompass, a real-estate analytics platform. No financial terms of the deal were disclosed. 

As per the deal, realtycompass will now be a part of QuikrHomes, which currently connects customers from over 1000 cities and towns across India and it helps conclude 2 lakh plus transactions per month. Quikr will continue to invest and develop the realtycompass platform by adding project approvals, social sentiment analysis and user credit score among others.

Realtycompass was founded by Nimesh Bhandari, Sankara Srinivasan, Alok Mishra and Ashish Rathi in 2013.

MagicTiger, an instant messaging-based delivery startup, acquired Instano, a B2C eCommerce app that renders on-demand delivery of services over chat. No financial terms of the deal were disclosed.

Magictiger uses AI-tech to anticipate user behavior, predict purchases to help customers make better decisons. On MagicTiger, users can ask for various items like food, groceries, household services and even government services. 

The core Instano team, includng co-founders Pratyush Prasanna and Rajesh Ranjan, will be joining MagicTiger. 

Paychex, a provider of payroll, human resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses, acquired Advance Partners, a  provider of integrated financial, operational, and strategic services to support independent staffing firms. No financial terms of the deal were disclosed. 

Advance Partners’ staffing firm clients work with more than 7,500 businesses. Those clients hire and process approximately 200,000 temporary positions annually.

Founded in 1998, Advance Partners has approximately 130 employees.  All will be offered the opportunity to become Paychex employees. 

Wealthsimple, an online investing service, acquired ShareOwner, an automated investment manager. Terms of the deal were not disclosed. 

ShareOwner has been providing independent investment education and low-cost investing services to retail investors since 1987. Over the last 3 decades, ShareOwner has launched notable innovations like fractional shares, dividend reinvestment programs, and model portfolios.

Following the acquisition, ShareOwner will continue to operate its popular discount brokerage under the leadership of CEO Bruce Seago. In addition, it has started supporting some back office operations for Wealthsimple.

Vision33, a provider of sales, consulting, implementation and support for the SAP Business One solution for growing businesses, entered into a definitive agreement to acquire Alphagen Holdings Limited, a long-term provider of SAP Business One. No financialm terms of the deal were disclosed.

As part of the acquisition, all Alphagen’s employees will join and be part of the Vision33 brand. Alphagen Managing Director, Neil Feingold will join the Group zed executive team as Managing Director, Europe.

The two companies had previously worked together on a number of global SAP Business One implementations, as well as deploying SAP Business One on the Amazon Web Services cloud.

Altus Group Limited, a provider of independent advisory services, software, and data solutions to the global commercial real estate industry, acquired Integrated Real Estate Resources (INTRER), a firm providing software implementation, business process improvement and customized solutions globally to the commercial real estate industry. No financial terms of the deal were disclosed.

Founded in 2003, INTRER combines real estate knowledge, technical expertise and proprietary software tools that enable a broad range of software implementation and business optimization solutions. INTRER's team of eight professionals, including its founder and President Mike Goode, will join ARGUS' professional services team to create a differentiated application services offering.

INTRER has been an ARGUS Software key technical subcontractor for the last five years.

GHO Capital, a European specialist healthcare investor, acquired Quotient Clinical, a provider of outsourced, early-stage drug development services to the pharmaceutical industry. No financial terms of the deal were disclosed. 

Headquartered in the UK and employing over 280 professionals, Quotient Clinical enables pharmaceutical and biotechnology customers to improve research and development productivity and accelerate drug development timelines.

At GHO Capital, the transaction was led by three Partners; Mike Mortimer, Alan MacKay and Mike Turner. HSBC Bank plc provided debt financing for the transaction. Macfarlanes LLP provided legal advice, and PwC provided accounting advice, to GHO Capital.

At Quotient Clinical, the transaction was led by Mark Egerton, Chief Executive Officer and Gordon Cameron, Chief Financial Officer. Travers Smith provided legal advice to Quotient Clinical.

Dinner Lab, a supper club and culinary events business, acquired Dishcrawl, an online community for culinary events. No financial terms of the deal were disclosed. 

Following the deal’s close, Dishcrawl will shut down its site and service. Founder Tracy Lee is joining Dinner Lab, which will be expanding its services to include restaurant crawl events next year.

Founded in 2010, Dishcrawl had raised $150,000 in venture funding from Kima Ventures.

Q2 Holdings, a provider of cloud-based virtual banking solutions, acquired Social Money, a financial services software company that offers a cloud-based platform that assists financial institutions in their direct digital strategies. No financial terms of the deal were disclosed. 

The acquisition of Social Money will provide Q2 with additional expertise in the direct-to-digital arena, a critical area for Q2’s customer base where consumers are increasingly more digital and branchless in their banking habits. Social Money creates new ways for financial institutions to address this consumer base while driving down costs and using the resulting savings to provide competitive product offerings.

Social Money will continue its relationship with existing clients while working directly within Q2’s research and development team to continue to establish innovative offerings for its digital banking channels.

Q2 is evaluating the integration of Social Money’s portfolio, and plans to begin offering a rebranded suite of Social Money technologies to its customer base starting in 2016.

iMapData, a provider of data visualization and analysis merged with, and took the name of PlanetRisk, a company revolutionizing big data solutions. The combined company will be called PlanetRisk, offering customers across the private and public sectors a powerful, highly advanced level of informed decision-making.

Paul McQuillan, president and CEO of iMapData will continue in this role in the new organization that has become PlanetRisk. Mark Dumas, who founded PlanetRisk last year, will become chief strategy officer of the new PlanetRisk. The two will collaborate on continuing to expand the company’s capabilities and solutions to meet the demands of its incredible roster of customers in the global private sector as well as in the U.S. government. 

Founded in 1982, iMapData had raised $20.77 million in venture funding. 

Ingram Micro, a provider of supply chain services to support cloud aggregation, entered into an agreement to acquire the Parallels Odin Service Automation platform along with associated cloud management technologies, intellectual property and the Odin brand from Parallels Holdings, a provider of commercial cloud management platform technologies, connectors, billing systems and professional services. No financial terms of the deal were disclosed.

Parallels cross-platform solutions business unit will continue to operate as a standalone company under the Parallels brand. The Plesk business unit will operate as a standalone company under the Plesk brand. The Virtuozzo business unit. will operate as a standalone company under the Virtuozzo brand. All three business units will continue to be owned and controlled by Parallels Holdings Limited.

In addition, approximately 500 Odin employees, many of whom are software engineers with cloud expertise, are expected to join Ingram Micro.

The transaction is expected to close by the end of 2015.

Aurelius Group, a pan-European, mid-market investor, acquired Allied Healthcare, the UK’s largest domiciliary care business and a leading provider of outsourced healthcare services to the English primary care sector, from Saga plc. No financial terms of the deal were disclosed.

Allied Healthcare has over 12,000 employees; in 2014 the Company recorded revenues of £282 million (approx. €400 million).

Aurelius has acquired Allied Healthcare's visiting care service, its primecare service and its homecare independent living service.

SITA, a specialist in air transport communications and IT solutions, acquired Type22, a company driving the development of self-service bag drop solutions. No financial terms of the deal were disclosed. 

The Type22 self bag drop portfolio, including Scan&Fly and Drop&Fly, will complement SITA’s suite of intelligent airport IT solutions. SITA will continue to develop Type22's products and will provide support for all Type22’s existing customers.  Members of Type22’s staff will remain located in Delft, The Netherlands.

Founded in 2006, Type22 had raised funding from Percival Participations and TIIN Capital.

TeamQuest, a provider of IT capacity planning and management, acquired PureShare, a provider of business value dashboards. No financial terms of the deal were disclosed. 

PureShare delivers organizational transparency and satisfies metrics needs of operations, customer and executive stakeholders.

TeamQuest and PureShare capabilities will be integrated. They wil provide a solution that enables users to elevate IT maturity and optimize infrastructure based on the business value it delivers.

Marlin Equity Partners, a global investment firm with over $3 billion of capital under management, acquired the LiveOps Cloud Platform from LiveOps, a provider of cloud contact center and customer service solutions. No financial terms of the deal were disclosed.

Current LiveOps CEO, Vasili Triant, will remain at the helm of the newly acquired SaaS-based company, which will continue to operate as an independent entity focused on the ongoing development and innovation of its cloud contact center platform.

The LiveOps Agent Services business, formally split from LiveOps, Inc. in 2014, will continue to be a separate organization led by current General Manager of Agent Services, Greg Hanover. It has not been acquired as part of the agreement with Marlin, and will remain an active LiveOps Cloud Platform customer.

Venture capital firm Presidio Partners, an existing investor in LiveOps, participated in the acquisition alongside Marlin. 

Education technology company Blackboard acquired higher education predictive analytics company Blue Canary. No financial terms of the deal were disclosed. 

Blue Canary was incubated by Clairvoyant LLC, recipient of the 2014 Arizona Technology Council Start Up of the Year Award. Clairvoyant's experience in higher education and expertise in building data-driven solutions was the driving force behind the inception of Blue Canary.

Blue Canary's product offering focuses on student retention, an issue that continues to be top of mind for institutions worldwide.

Mobify, which delivers technology and services that help companies engage connected consumers to increase revenue online and in-store, acquired Dónde, a provider of location-aware mobile technology. No financial terms of the deal were disclosed. 

Dónde's location marketing technology will be combined Mobify's mobile web, native app and push messaging technology. 

Founded in 2013, Dónde's customers include Pizza Hut, Applebees and Graeters Ice Cream. The company had raised $1.17 million in venture funding from Chicago Ventures, Mercury Fund, Tim Kopp and Vine St. Ventures.

AutoAlert, a data mining and trade-cycle management platform for the automotive industry, acquired MotoFuze, a Customer Experience Management platform.

MotoFuze will be transitioned to a fully integrated product of AutoAlert.  MotoFuze CEO Mike Dullea and Co-founder Tom Walls have been appointed as AutoAlert's Chief Sales and Marketing Officer and Chief Technology Officer, respectively.

AutoAlert and MotoFuze had previously announced a partnership in October of this year, during which pilot dealers used both products for a more comprehensive sales and marketing solution. The newly combined company will maintain its offices in Irvine, CA and Kansas City, MO.

 Visma, a supplier of business software and services to enterprises, acquired DigitalBooker, an online booking system which lets people manage their business’ time more easily. No financial terms of the deal were disclosed. 

The acquisition of DigitalBooker strengthens Visma’s position as a cloud based software provider. Visma can also serve DigitalBooker’s current customers with needs besides online booking.

DigitalBooker has 500 000 customers in over 400 locations and has served over 4 million bookings, 

Presidio, a provider of professional and managed services for advanced IT solutions, acquired the assets of Sequoia Worldwide, a consulting, integration, and services company focused exclusively on private and hybrid cloud solutions. No financial terms of the deal were disclosed. 

Sequoia's cloud consulting and integration capabilities help ensure successful implementations of their clients' strategic cloud initiatives. 

Sequoia will become the Cloud Business Unit for Presidio and do business as Sequoia Cloud Solutions, a Presidio Company.

Venture capital firm Klass Capital partnered with the management team at Docebo, a provider of cloud-based corporate learning management solutions, to acquire a controlling interest in the business. No financial terms of the deal were disclosed.

Klass acquired the shares of leading Italian venture capital firm Principia SGR and made an additional growth equity investment to support the company’s growth. Docebo’s management continues to own a significant stake of the company.

Docebo had raised $6.37 million in venture funding from Klass Capital, Principia SGR and Seeweb Srl.

YourStory Media, a media platform that covers the startup ecosystem in India, acquired Papyrus Editor, an online editor to create e-books. No financial terms of the deal were disclosed,  though it was a cash-and-stock deal.

Gaurav Tiwari, who founded Papyrus in 2012, joins YourStory as its key tech lead and will work with ots team of engineers. He will also be building many new technology products that YourStory is working on.

The acquisition will also facilitate the launch of the Indian languages user-generated content (UGC) product, which is slated for January 2016

(Image source: inman.com)

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