Like Lettuce, Inc.

closed 5/8/2014 via BNC Analysis

Intuit, Inc., acquired Lettuce, Inc.

synopsis: Intuit has announced their acquisition of Lettuce, Inc., a platform for companies to manage both orders and inventory online. Lettuce offers a simple online inventory and order management system for people who want to get rid of the repetitive data entry, and instead focus on growing their business.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, simplify small business management and payroll processing, personal finance, and tax preparation and filing. "
target: Lettuce, Inc.
Lettuce is the simple online inventory and order management system for people who want to get rid of the repetitive data entry, and instead focus on growing their business. Their order management software is online-based.
price ($mm)
$30
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/25/2015 via GlobeNewswire

Descartes Systems Group Inc., acquired Oz Development, Inc.

synopsis: Descartes Systems Group, the global leader in uniting logistics-intensive businesses in commerce, announced that it has acquired Oz Development, Inc., a leading US-based provider of application integration solutions that help small-to-medium sized businesses automate a number of logistics and supply chain processes.
buyer: Descartes Systems Group Inc. (DSGX:$312.60)
Descartes is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use their modular, software-as-a-service solutions to complete numerous logistics processes. "
target: Oz Development, Inc.
Oz Development is the provider of OzLINK: a set of cloud-based solutions that integrate and automate the order management process. OzLINK streamlines functions from e-commerce through to the warehouse and shipping. They have created value for more than 10,000 customers in several industries.
price ($mm)
$30
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/19/2019 via Company Press Release

EQT AB, acquired Acumatica

synopsis: EQT has acquired Acumatica from its founders, management and other minority investors. Acumatica provides cloud-based business management software that enables small and mid-size companies to accelerate their businesses.
buyer: EQT AB (EQT:$561.47)
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. "
target: Acumatica
Acumatica provides cloud-based business management software that enables small and mid-size companies to accelerate their businesses. Acumatica delivers a suite of integrated business management applications such as Financials, Project Accounting, Commerce, Manufacturing, Field Service and CRM.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/2/2008 via

NetSuite, Inc., acquired OpenAir

synopsis: NetSuite Inc., a leading vendor of on-demand, integrated business management software suites, announced that it has signed a definitive agreement to acquire OpenAir, Inc., a leading provider of on-demand Professional Services Automation software.
buyer: NetSuite, Inc. (N:$897.49)
NetSuite Inc. is a leading vendor of on-demand, integrated business management software suites for small and midsized businesses. NetSuite enables mid-market companies to manage core business operations in a single system. "
target: OpenAir
OpenAir is a leading provider of Software-as-a-Service services automation management software. OpenAir provides project-based organizations and firms the tools they need to help grow their businesses quickly and profitably.
price ($mm)
$27
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/19/2008 via BusinessWire

CMGI, Inc., acquired Open Channel Solution

synopsis: CMGI, Inc., a global leader in supply chain management services, completed its previously announced acquisition of Open Channel Solutions, Inc., a leading global provider of entitlement and e-business management solutions.
buyer: CMGI, Inc. (NasdaqGS:MLNK:$417.82)
CMGI, Inc. through its subsidiary ModusLink, provides industry-leading global supply chain management services and solutions that help businesses market, sell and distribute their products around the world. CMGI’s venture capital business, @Ventures, invests in a variety of technology ventures. "
target: Open Channel Solution
Open Channel Solutions is a leading global provider of entitlement and e-business management solutions, including its flagship Poetic™ product. The company’s self-service offerings help organizations increase software renewal revenues; extend their reach and manage sales in the growing SMB market.
price ($mm)
$13
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/24/2019 via BNC Analysis

Squarespace, Inc., acquired Acuity Scheduling

synopsis: Squarespace, a company that provides software as a service for website building and hosting, has acquired Acuity Scheduling, a company that offers easy online appointment scheduling. They have helped small businesses offer booking and manage their appointments online since 2006.
buyer: Squarespace, Inc.
Squarespace empowers millions of dreamers, makers, and doers by providing them with the tools they need to bring their creative ideas to life. On Squarespace’s dynamic all-in-one platform, customers can claim a domain, build a website, sell online, and market a brand. "
target: Acuity Scheduling
Acuity Scheduling offers easy online appointment scheduling. They have helped small businesses offer booking and manage their appointments online since 2006.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/28/2018 via Company Press Release

CommentSold, acquired Spreesy

synopsis: CommentSold, a social eCommerce platform that helps businesses sell their products digitally, has acquired Spreesy, an automated eCommerce, marketing and CRM platform for small businesses. Spreesy makes any social network profile shoppable, and turns standard social network posts into purchasable products.
buyer: CommentSold
CommentSold is a social eCommerce platform that helps businesses sell their products digitally. CommentSold enables businesses to manage their inventory, automate invoicing, and sell through social networks. Businesses can sell on various social networks while managing a single inventory. "
target: Spreesy
Spreesy is an automated eCommerce, marketing and CRM platform for small businesses. Spreesy makes any social network profile shoppable, and turns standard social network posts into purchasable products. Spreesy can be used to create shoppable posts for Instagram, Facebook, Twitter, and Pinterest.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/22/2018 via BusinessWire

Arcoro, acquired BirdDogHR

synopsis: BirdDogHR, the leader in talent management solutions for the construction, engineering and skilled trades industries, has received investment by Providence Equity Partners L.L.C (PSG). As a part of the overall platform strategy, PSG has created Arcoro. BirdDogHR will now be known as part of the Arcoro family of human capital management solutions.
buyer parent: Providence Equity Partners Inc.
buyer: Arcoro
Arcoro, created by Providence Equity Partners, is the proven human capital management (HCM) software and services provider for high consequence industries and features cornerstone companies BirdDogHR and sister company, ExakTime. "
target: BirdDogHR
BirdDogHR offers comprehensive talent management software and managed services — everything needed to guide the entire employee lifecycle. The cloud-based talent management system is straightforward and easy to use.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/8/2018 via BNC Analysis

Resultados Digitais, acquired Plug CRM

synopsis: Resultados Digitais, a Brazilian company that helps businesses understand and take advantage of the benefits of digital marketing, has acquired Plug CRM, a Brazilian provider of web-based CRM software solutions. Plug CRM helps businesses build better relationships, increase their sales, and have more satisfied customers.
buyer: Resultados Digitais
Resultados Digitais is a Brazilian company that helps small and medium-sized businesses understand and take advantage of the benefits of digital marketing. Their cloud-based RD Station software is a complete solution that allows companies to manage and automate their digital marketing activities. "
target: Plug CRM
Plug CRM is a Brazilian provider of web-based CRM software solutions for small and medium-sized businesses. Plug CRM's software is easy to use and helps businesses build better relationships, increase their sales, and have more satisfied customers.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/23/2018 via BusinessWire

SFW Capital Partners, acquired Swiftpage

synopsis: Swiftpage, the provider of Act! CRM software, a leading cloud-enabled platform aimed at helping small and mid-sized businesses grow, has been sold to SFW Capital Partners. Swiftpage has operations in Denver, CO, Scottsdale, AZ, and Newcastle, UK. Swiftpage is the maker of Act! the pioneer and an innovator in the CRM space.
buyer: SFW Capital Partners
SFW Capital Partners is a specialized private equity firm that makes strategic investments in mid-size companies across the information value chain, with a focus on analytical information, software and instrumentation, a sector that the principals of SFW have invested in for over 20 years. "
target: Swiftpage
Swiftpage, with operations in Denver, CO, Scottsdale, AZ, and Newcastle, UK, is a leading provider of software and services that help small and mid-sized businesses grow. Swiftpage is the maker of Act! the pioneer and an innovator in the CRM space, serving over 500,000 users in over 100 countries.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/9/2018 via GlobeNewswire

Panostaja, will acquire Oscar Software Group Oy

synopsis: Panostaja Oyj, an investment company, has signed an agreement to acquire the share capital of Oscar Software Group Oy, a software service company specialized in the development of enterprise resource planning (ERP) systems and various business services. Both companies are based in Tampere, Finland.
buyer: Panostaja (HLSE:PNA1V:$242.58)
Panostaja is an investment company developing Finnish SMEs in the role of an active majority shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. "
target: Oscar Software Group Oy
Oscar Software Group Oy, established in 2005, is a software service company specialized in the development of enterprise resource planning (ERP) systems and various business services. They are located in Tampere, Finland.
price ($mm)
$5.93*
rev ($mm)
$9
EBITDA ($mm)
EV / rev
1.2x
EV / EBITDA
closed 4/5/2018 via PR Newswire

Stagwell Group, acquired ReputationDefender, Inc.

synopsis: The Stagwell Group, which invests in marketing services companies, announced its fund, Stagwell Media LLC, has acquired ReputationDefender®, a global leader in Online Reputation Management and digital privacy for individuals and small businesses, from Reputation.com Inc.
buyer: Stagwell Group
The Stagwell Group LLC is a registered investment advisory company formed by Mark Penn. The Stagwell Group manages a private equity fund whose portfolio includes more than a dozen collaborative, digital-first agencies. "
target parent: Reputation.com, Inc.
target: ReputationDefender, Inc.
ReputationDefender was founded in 2006 and offers online reputation and privacy tools for individuals and small businesses. ReputationDefender® puts users in charge of their online reputation by creating a strong, durable online reputation that resists attacks, negatives, and misleading information.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/17/2018 via GlobeNewswire

N. Harris Computer Corporation, acquired ACCEO Solutions

synopsis: Constellation Software announced that its wholly-owned subsidiary, N. Harris Computer Corporation, has acquired Acceo Solutions. Acceo provides management, accounting and payment solutions, consulting and support for e-business to small and medium businesses, hardware and building centers, retail, public sector, daycare centers and tour operators.
buyer parent: Constellation Software, Inc.
buyer: N. Harris Computer Corporation
N. Harris Computer Corporation focuses on providing feature-rich and robust turnkey solutions to Public Sector, Schools, Utility, and Health Care agencies. Their focus is on creating long-term relationships with its customers and ensuring that it meets the changing needs of its customers over time. "
target: ACCEO Solutions
A leading Canadian IT company with approximately 60,000 clients, Acceo Solutions specializes in the design, implementation and integration of, and support for, management software; e-business development; and payment, professional, and technical services.
price ($mm)
$200
rev ($mm)
$93
EBITDA ($mm)
EV / rev
2.2x
EV / EBITDA
closed 7/12/2017 via Company Press Release

Advanced, acquired Hudman Limited

synopsis: Advanced, a provider of healthcare, enterprise, and other business solutions and services to the public and private sectors, has acquired Hudman, a provider of cloud-based ERP solutions for small and medium sized businesses. Hudman's software covers the entire business process, from accounts and payroll, to operations, stock, customers and more.
buyer: Advanced
Advanced is a provider of healthcare, enterprise, and other business solutions and services to the public and private sectors. Their healthcare portfolio includes patient care management and clinical software solutions, while its enterprise suite includes financial management, HR, payroll, and CRM. "
target: Hudman Limited
Hudman provides cloud-based Enterprise Resource Planning (ERP) solutions for small and medium sized businesses. Specialising in software for manufacturing, construction, installation and project based industries, they offer solutions that can adapt to suit the needs of modern businesses.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 2/15/2017 via Market Wire

Ascender Group, acquired Workcloud Inc.

synopsis: Ascender announced it has acquired Workcloud, a leading Payroll and Time & Attendance (T&A) services provider in Japan. This transaction will strengthen Ascender's position as the market leader in HR & payroll software and services across Asia-Pacific by specifically accelerating its growth in Japan.
buyer: Ascender Group
Ascender offers payroll outsourcing solutions using SaaS, co-managed and fully-managed delivery options. Their proprietary platforms allow them to seamlessly tackle very large, complex clients that require process re-engineering, process standardization and automation, and extended payroll services."
target: Workcloud Inc.
Workcloud was founded with a vision to provide small-to-medium size businesses in Japan with a service that integrates management of all aspects of HR operations into an easy-to-use, beautiful platform.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/2/2016 via AP - Associated Press

DigitalTown, acquired Appointment.com

synopsis: DigitalTown, Inc. announced the acquisition of Appointment.com, an established provider of online appointment booking solutions. Originally founded in 1999 by Max Fanderl, Appointment.com has earned a reputation for providing advanced online booking solutions for service providers.
buyer: DigitalTown (OTCPK:DGTW:$0.34)
DigitalTown, Inc. powers Smart Cities to succeed in the Digital Age. It provides turn-key hosted solutions to power "Digital Towns," which improve Quality of Life through integrated solutions for economic development, civic engagement and digital inclusion for cities around the world. "
target: Appointment.com
Appointment.com is an established provider of online appointment booking solutions. Originally founded in 1999 by Max Fanderl, Appointment.com has earned a reputation for providing advanced online booking solutions for service providers.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/7/2016 via PR Newswire

Oracle Corporation, acquired NetSuite, Inc.

synopsis: Oracle announced that a majority of the unaffiliated shares of NetSuite Inc. were validly tendered and the other conditions to the tender offer have been satisfied. The acquisition of NetSuite will be consummated by Oracle on Monday, November 7, 2016. NetSuite is the world's leading provider of cloud-based business management software.
buyer: Oracle Corporation (ORCL:$39,766.00)
Oracle Corporation is the world's largest enterprise software company. It offers a comprehensive and fully integrated stack of cloud applications and platform services. "
target: NetSuite, Inc. (N:$897.49)
NetSuite is the world's leading provider of cloud-based business management software. NetSuite helps companies manage core business processes with a single, fully integrated system covering ERP/financials, CRM, ecommerce, and more.
price ($mm)[EV]
$6,794 [$6,622]*
rev ($mm)
$897
EBITDA ($mm)
EV / rev
9.7x
EV / EBITDA
closed 5/25/2016 via Company Press Release

LDC Limited, acquired CIPHR

synopsis: LDC has backed the management buyout of CIPHR, a leading vendor of human capital management (HCM) software. CIPHR's cloud-based technology is designed to make human resource functions more efficient, spanning the employee lifecycle from talent attraction, recruitment and on-boarding, absence and core to learning and more.
buyer parent: Lloyds Banking Group
buyer: LDC Limited
Established in 1981 LDC is a leading player in the private equity mid-market and is able to provide up to £100m of funds for buyouts and development capital transactions in UK unquoted companies. "
target: CIPHR
CIPHR provides HR management software targeted at small and medium sized organisations (SMEs) with between 100 and 5,000 employees. Its cloud-based technology is designed to make human resource functions more efficient.
price ($mm)
rev ($mm)
$9
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 5/11/2016 via Company Press Release

Forterro Inc., acquired SYLOB SAS

synopsis: Forterro, a group of European ERP software and services companies, announced that it has acquired privately-held Sylob, a leading supplier of ERP software for small to midmarket manufacturers of industrial products in France.
buyer: Forterro Inc.
Forterro is a group of software companies that deliver strong operational ERP functionality to specialized geographical or vertical markets. The Forterro portfolio of ERP software solutions serves more than 3,000 customers around the world. "
target: SYLOB SAS
Sylob has developed and implemented ERP software solutions exclusively for industrial SMEs in France. Sylob serves an active community of users across a wide range of industries, including aerospace and defense, automotive, electronics, industrial machinery, plastics, and jewelry.
price ($mm)
rev ($mm)
$10
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 4/20/2016 via BNC Analysis

IRIS Software Group Limited, acquired Octopus HR

synopsis: IRIS Software Group has announced the acquisition of award-winning technology firm Octopus HR. The Octopus SaaS-based HR solution has dominated the industry’s ‘micro to SME business’ segment since 2002.
buyer parent: HgCapital
buyer: IRIS Software Group Limited
IRIS Software Group is the UK's market leading provider of business critical software and services to the UK accountancy and payroll sectors. IRIS offers customers the broadest range of specialist accountancy software and services. "
target: Octopus HR
Octopus is the award-winning, purpose-built web-based HR system. Delivered on demand, online it lets hr, managers and employees carry out all their day-to-day HR management and reporting tasks easily, when they want.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/8/2014 via BNC Analysis

Intuit, Inc., acquired Lettuce, Inc.

synopsis: Intuit has announced their acquisition of Lettuce, Inc., a platform for companies to manage both orders and inventory online. Lettuce offers a simple online inventory and order management system for people who want to get rid of the repetitive data entry, and instead focus on growing their business.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, simplify small business management and payroll processing, personal finance, and tax preparation and filing. "
target: Lettuce, Inc.
Lettuce is the simple online inventory and order management system for people who want to get rid of the repetitive data entry, and instead focus on growing their business. Their order management software is online-based.
price ($mm)
$30
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 2/25/2020 via BusinessWire

Intuit, Inc., will acquire Credit Karma

synopsis: Intuit, proud maker of TurboTax, QuickBooks and Mint, announced that it has agreed to acquire Credit Karma, a personal finance company that's focused on helping everyone make financial progress.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit Inc. creates business and financial management solutions that simplify the business of life for small businesses, consumers and accounting professionals. Its flagship products and services include QuickBooks®, which make it easier to manage small businesses and tax preparation and filing. "
target: Credit Karma
Credit Karma is a personal finance company that's focused on helping everyone make financial progress. Whether they're interested in getting a better deal on a loan, looking for ways to save, or simply monitoring their credit, they offer a range of tools and personalized recommendations.
price ($mm)
$7,100
rev ($mm)
$1,000
EBITDA ($mm)
EV / rev
7.1x
EV / EBITDA
closed 11/27/2019 via Company Press Release

Intuit, Inc., acquired ChronoBooks

synopsis: Intuit® is taking the next step in making QuickBooks® Online the premier solution for small- and mid-size businesses (SMBs) by acquiring ChronoBooks, a cloud-based solution that accountants and SMBs rely on to view and restore historical QuickBooks Online activity.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit Inc. creates business and financial management solutions that simplify the business of life for small businesses, consumers and accounting professionals. Its flagship products and services include QuickBooks®, which make it easier to manage small businesses and tax preparation and filing. "
target: ChronoBooks
ChronoBooks is a cloud-based solution that accountants and SMBs rely on to view and restore historical QuickBooks Online activity.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/29/2019 via BusinessWire

Intuit, Inc., will acquire Origami Logic

synopsis: Intuit Inc., makers of TurboTax, QuickBooks, Mint and Turbo, announced it has entered into an agreement to acquire Origami Logic, a marketing analytics company that helps teams master their marketing performance by letting them see what’s working and what’s not, so they can optimize their efforts.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit Inc. creates business and financial management solutions that simplify the business of life for small businesses, consumers and accounting professionals. Its flagship products and services include QuickBooks®, which make it easier to manage small businesses and tax preparation and filing. "
target: Origami Logic
Origami Logic is a marketing analytics company that helps teams master their marketing performance by letting them see what’s working and what’s not, so they can optimize their efforts.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/5/2017 via BusinessWire

Intuit, Inc., will acquire TSheets

synopsis: Intuit Inc., a business and financial software company, is to acquire TSheets, a leading platform that small and medium businesses, self-employed, and accountants use to automate time tracking and scheduling for them and their workers.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit Inc. creates business and financial management solutions that simplify the business of life for small businesses, consumers and accounting professionals. Its flagship products and services include QuickBooks®, which make it easier to manage small businesses and tax preparation and filing. "
target: TSheets
TSheets is a leading platform that small and medium businesses, self-employed, and accountants use to automate time tracking and scheduling for them and their workers.
price ($mm)
$340
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/26/2017 via BusinessWire

Intuit, Inc., will acquire Exactor

synopsis: Intuit Inc., a business and financial software company, has signed an agreement to acquire Exactor, a leading cloud-based SaaS technology provider of sales and use tax calculation and filing. Intuit plans to integrate this feature into QuickBooks Online making it easy for its retail customers to accurately track and file sales tax returns on-time.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit Inc. creates business and financial management solutions that simplify the business of life for small businesses, consumers and accounting professionals. Its flagship products and services include QuickBooks®, which make it easier to manage small businesses and tax preparation and filing. "
target: Exactor
Exactor is revolutionizing sales tax compliance by providing the next-generation, end-to-end solution for secure, reliable and accurate sales tax compliance efforts, including tax calculation, record keeping and tax processing.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/12/2016 via BNC Analysis

Intuit, Inc., acquired Bankstream

synopsis: Intuit QuickBooks, the world’s leading online accounting software, announced its acquisition of Bankstream, a company that provides direct connections between banks and accountants, and their clients’ data. Bankstream’s relationships with UK banks will provide QuickBooks users with a direct connection to their accounts.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit Inc. creates business and financial management solutions that simplify the business of life for small businesses, consumers and accounting professionals. Its flagship products and services include QuickBooks®, which make it easier to manage small businesses and tax preparation and filing. "
target parent: MTS Global Limited
target: Bankstream
Through secure connections with participating banks, Bankstream enables accountants to receive their clients’ bank transactions every day, and automatically process these transactions using Bankstream’s ICAEW accredited software.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/1/2016 via PR Newswire

Welsh, Carson, Anderson & Stowe, acquired QuickBase

synopsis: Welsh, Carson, Anderson & Stowe, a leading technology-focused private equity firm, announced it has completed the transaction with Intuit Inc. to acquire its QuickBase business. QuickBase provides an industry-leading low-code development platform to enable the creation and rapid deployment of customized, purpose-built cloud applications.
buyer: Welsh, Carson, Anderson & Stowe
WCAS focuses its investment activity in two target industries: technology and healthcare. Since its founding in 1979, WCAS has organized 16 limited partnerships with total capital of over $22 billion. WCAS has a current portfolio of approximately twenty-five companies. "
target parent: Intuit, Inc.
target: QuickBase
QuickBase is focused on helping businesses of all sizes drive productivity and digitally transform their organizations. The platform's unique low-code interface enables users to create custom applications faster and easier without learning code.
price ($mm)
rev ($mm)
$70
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 3/31/2016 via BusinessWire

H.I.G. Capital, acquired Quicken Investment Services, Inc.

synopsis: Quicken, the leading personal finance software that empowers consumers to easily manage their finances, announces that H.I.G. Capital, a leading global investment firm, has completed its acquisition of the company. Quicken, a top personal money management software, has been the trusted financial solution for millions of consumers.
buyer: H.I.G. Capital
H.I.G. Capital is a leading global private equity and alternative assets investment firm with more than $19 billion of equity capital under management. H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies. "
target parent: Intuit, Inc.
target: Quicken Investment Services, Inc.
Quicken Investment Services, Inc. provides software and services to manage personal and small business finances. The company offers personal finance products, such as Quicken Online to control personal finances and Quicken Deluxe to get a snapshot of monthly spending.
price ($mm)
rev ($mm)
$51
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
announced 1/15/2016 via Market Wire

Internet Brands, Inc., will acquire Demandforce, Inc.

synopsis: Internet Brands, a fully integrated online media and software services organization focused on four high-value vertical categories, announced it will acquire Demandforce, a leading marketing software service provider. Demandforce's award-winning products help build businesses a strong online reputation and leverage local network marketing.
buyer parent: Kohlberg Kravis Roberts & Co.
buyer: Internet Brands, Inc. (:$107.45)
Internet Brands® is a fully integrated online media and software services organization focused on four high-value vertical categories: Automotive, Health, Legal and Home / Travel. Internet Brands' powerful, proprietary operating platform provides the scalability to fuel the company's growth. "
target parent: Intuit, Inc.
target: Demandforce, Inc.
Demandforce is a leading online marketing and communication software service that helps local businesses thrive in the Internet economy. Demandforce's award-winning products help build businesses a strong online reputation and leverage local network marketing.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/25/2015 via BNC Analysis

Intuit, Inc., acquired Playbook HR

synopsis: Intuit, a leading provider of business and financial management solutions for small and mid-sized businesses, acquired Playbook HR, a platform for organizing independent workforces. Their initial product is an applicant tracking system, but they are moving into workforce management, and eventually, performance management, payroll, and benefits.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, simplify small business management and payroll processing, personal finance, and tax preparation and filing. "
target: Playbook HR
Playbook HR is platform for organizing independent workforces. Their initial product is an applicant tracking system, but they are moving into workforce management, and eventually, performance management, payroll, and benefits.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 2/5/2015 via Company Press Release

Intuit, Inc., will acquire Porticor

synopsis: Intuit, a leading provider of business and financial management solutions for small and mid-sized businesses, has agreed to buy Porticor. Porticor infuses trust into the cloud with secure, easy to use, and scalable solutions for data encryption and key management.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, simplify small business management and payroll processing, personal finance, and tax preparation and filing. "
target: Porticor
Porticor infuses trust into the cloud with secure, easy to use, and scalable solutions for data encryption and key management. Porticor enables companies of all sizes to safeguard their data, comply with regulatory standards, and streamline operations.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/14/2014 via BNC Analysis

Intuit, Inc., acquired itDuzzit

synopsis: Intuit has acquired itDuzzit, a cloud integration platform that offers pre-built integration solutions and connectors for several cloud (web) applications. Their drag-and-drop configurator let's users integrate their apps in minutes.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, simplify small business management and payroll processing, personal finance, and tax preparation and filing. "
target: itDuzzit
itDuzzit is a cloud integration platform that offers pre-built integration solutions and connectors for several cloud (web) applications. Their drag-and-drop configurator let's users integrate their apps in minutes.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/7/2014 via Company Press Release

Intuit, Inc., acquired PaySuite

synopsis: PaySuite has announced its acquisition by Intuit. PaySuite is a cloud-based, self-service payroll software provider. PaySuite's features includes Bacs, PAYE and NI calculations, electronic payslips, full reporting, P45, pensions, real time information, unlimited employees, unlimited payrolls, and more.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, simplify small business management and payroll processing, personal finance, and tax preparation and filing. "
target: PaySuite
PaySuite is a cloud-based, self-service payroll software provider. PaySuite's features includes Bacs, PAYE and NI calculations, electronic payslips, full reporting, P45, pensions, real time information, unlimited employees, unlimited payrolls, and more.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/16/2014 via BusinessWire

Intuit, Inc., acquired Check Inc.

synopsis: Intuit Inc. has acquired Check, a leader in mobile bill pay that serves 10 million registered users. The acquisition will help accelerate Intuit’s ability to offer bill pay across small business and personal finance products and create opportunities to retain, attract and serve additional customers.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, simplify small business management and payroll processing, personal finance, and tax preparation and filing. "
target: Check Inc.
Launched in 2008, Check is a leading mobile payments company. Its free, top-rated mobile app is used by more than 10 million customers to pay bills and track personal finances. Check is headquartered in Palo Alto, CA.
price ($mm)
$342
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/8/2014 via BNC Analysis

Intuit, Inc., acquired Lettuce, Inc.

synopsis: Intuit has announced their acquisition of Lettuce, Inc., a platform for companies to manage both orders and inventory online. Lettuce offers a simple online inventory and order management system for people who want to get rid of the repetitive data entry, and instead focus on growing their business.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, simplify small business management and payroll processing, personal finance, and tax preparation and filing. "
target: Lettuce, Inc.
Lettuce is the simple online inventory and order management system for people who want to get rid of the repetitive data entry, and instead focus on growing their business. Their order management software is online-based.
price ($mm)
$30
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 4/9/2014 via Company Press Release

Demandforce, Inc., will acquire CustomerLink Systems

synopsis: CustomerLink has announced that it is going to join Demandforce, an Intuit company that connects clients to over 100 million consumers via email communications, text messaging and online services. Customerlink Systems, Inc. provides automated marketing programs to automotive repair facilities and other service industries in the United States.
buyer parent: Intuit, Inc.
buyer: Demandforce, Inc.
Founded in 2003 and headquartered in San Francisco, CA, Demandforce's flagship product, Demandforce, connects Demandforce clients to over 100 million consumers via email communications, text messaging and online services. "
target: CustomerLink Systems
Customerlink Systems, Inc. provides automated marketing programs to automotive repair facilities and other service industries in the United States. It also offers a suite of automated online auto repair marketing services to help the client manage online reputation.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/4/2013 via BNC Analysis

Intuit, Inc., will acquire Docstoc

synopsis: Intuit has agreed to acquire Docstoc. The company provides a platform to upload, share and even sell documents, and maintains an ever-growing repository of both free and purchasable legal, business, financial, technical, and educational documents that can be easily searched, previewed and downloaded.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, simplify small business management and payroll processing, personal finance, and tax preparation and filing. "
target: Docstoc
Docstoc provides a platform to upload, share and even sell documents, and maintains an ever-growing repository of both free and purchasable legal, business, financial, technical, and educational documents that can be easily searched, previewed and downloaded.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/30/2013 via BNC Analysis

Intuit, Inc., will acquire FullSlate

synopsis: Intuit, a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals, is acquiring FullSlate, an online scheduling company that allows clients to offer their customers the ability to make appointments directly to web sites and Facebook pages.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, simplify small business management and payroll processing, personal finance, and tax preparation and filing. "
target: FullSlate
Full Slate offers comprehensive software-as-a-service scheduling, that allows clients to offer their customers the ability to make appointments directly to web sites and Facebook pages. Businesses pay a monthly subscription for a single practitioner for unlimited clients and unlimited appointments.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/24/2013 via BNC Analysis

Intuit, Inc., acquired Level Up Analytics

synopsis: Intuit, a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals, has acquired Level Up Analytics, a Mountain View-based consulting company that focuses on data science, big data and analytics.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, simplify small business management and payroll processing, personal finance, and tax preparation and filing. "
target: Level Up Analytics
Level Up Analytics is a premier consulting company focused on data science, big data, and analytics. Level Up takes a business to the next level through analytics & big data. They are working with a number of companies at various stages to develop their analytics strategy, and build data products.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/21/2013 via BNC Analysis

Stephen Malik, acquired Intuit Health

synopsis: Stephen Malik, the entrepreneur who sold his medical software company Medfusion to Intuit in 2010, has reacquired the business. Intuit Health’s software enables patients to make appointments, pay their bills, request prescription refills, complete medical forms, review lab results and perform other tasks over the Internet.
buyer: Stephen Malik
Stephen Malik was the founder & CEO of Medfusion from 1996 until 2010. After the Acquistion of Medfusion by Intuit, Inc. he joined Intuit Health as a Senior Vice President and General Manger. Malik was general manager of Intuit Health until January 2013. "
target parent: Intuit, Inc.
target: Intuit Health
Intuit Health was formed by the combination of Medfusion and Intuit’s Quicken Health Group. Intuit Health’s patient-to-provider solutions extend the value of an electronic health record ("EHR") giving patients timely electronic access to their information.
price ($mm)
rev ($mm)
$16
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 5/13/2020 via Company Press Release

Dylog Italia Spa, acquired StudioBoost Srl

synopsis: Dylog Italia Spa, an Italian developer of management software solutions and services, has acquired the Bolognese startup StudioBoost, a company active in the design and creation of smart and innovative solutions for the management of small and medium-sized enterprises, commercial businesses, and professionals.
buyer: Dylog Italia Spa
Italy-based Dylog engineers, develops, and markets management software solutions and services for businesses and professionals across various sectors. Innovation, research, and attention to quality have led Dylog to be one of the national leaders in the Information Technology sector. "
target: StudioBoost Srl
StudioBoost is an Italian software house engaged in the development of native cloud software. Through RPA (Robotic Process Automation) techniques, StudioBoost's software can automate and simplify accounting and financial management for any small business owner.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/22/2020 via BNC Analysis

Red Flag AB merged with Bokio AB,

synopsis: Bokio, a Swedish FinTech that develops free AI-driven accounting software, has merged with Stockholm-based competitor Red Flag. The companies will operate under the Bokio brand. Red Flag helps business owners automate their company by developing software solutions for activities such as invoicing, accounting, VATS reporting, and more.
buyer: Bokio AB
Bokio is a Swedish FinTech that develops AI-driven accounting software for small to medium-sized enterprises and self-employed clients. The company's free accounting software allows users to handle bookkeeping, create and send invoices, generate reports, and more from a single digital platform. "
target: Red Flag AB
Red Flag is a Swedish software solutions company for people who run small to medium-sized businesses. The company develops solutions that automate invoicing, accounting, archiving of paper, as well as handling VAT reports, annual accounts, and tax payments.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/27/2019 via Company Press Release

Intuit, Inc., acquired ChronoBooks

synopsis: Intuit® is taking the next step in making QuickBooks® Online the premier solution for small- and mid-size businesses (SMBs) by acquiring ChronoBooks, a cloud-based solution that accountants and SMBs rely on to view and restore historical QuickBooks Online activity.
buyer: Intuit, Inc. (INTU:$7,127.00)
Intuit Inc. creates business and financial management solutions that simplify the business of life for small businesses, consumers and accounting professionals. Its flagship products and services include QuickBooks®, which make it easier to manage small businesses and tax preparation and filing. "
target: ChronoBooks
ChronoBooks is a cloud-based solution that accountants and SMBs rely on to view and restore historical QuickBooks Online activity.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/6/2019 via Company Press Release

Access Group, acquired Attaché

synopsis: The Access Group, the UK-based leading provider of software to growing mid-market businesses, announced the acquisition of Attaché, an Australian-based Financial Management and Payroll software supplier with over 30 years’ experience providing software to Australasian mid-market businesses.
buyer parent: TA Associates
buyer: Access Group
Access is a leading provider of business software to the UK mid-market. Their portfolio of solutions includes ERP, finance, HR, Payroll, recruitment, warehousing, business intelligence, professional service automation, manufacturing, and more. "
target: Attaché
Attaché is an Australian-based Financial Management and Payroll software supplier with over 30 years’ experience providing software to Australasian mid-market businesses.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/28/2019 via BNC Analysis

Ageras A/S, acquired Billy ApS

synopsis: Billy, a Danish company that offers user-friendly accounting software for entrepreneurs, craftsmen and freelancers, has been acquired by Danish Ageras, which operates Europe's largest platform to match accountants and lawyers with companies.
buyer parent: Investcorp
buyer: Ageras A/S
Headquartered in Denmark, Ageras aims to improve transparency within the financial sector and to make it easier for clients to choose the right financial specialist. Their network includes thousands of skilled partners, who are always ready and willing to provide clients with a quote. "
target: Billy ApS
Headquartered in Denmark, Billy offers user-friendly accounting software for entrepreneurs, craftsmen and freelancers. The SaaS company offers an own-developed software platform allowing integration to over 75 essential transaction, salary and web shop specific business applications.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/24/2019 via Company Press Release

Lendio, acquired Billy

synopsis: Lendio, the nation’s leading marketplace for small business loans, announced the acquisition of Billy, a billing and expense tracking solution that gives small business owners real-time insight into their business finances, allowing for more streamlined accounting, invoicing, reporting and access to capital. Billy is being re-branded as Sunrise.
buyer: Lendio
Lendio is a free online service that helps business owners find the right small business loans within minutes. Bringing all options together in one place, from short-term specialty financing to long-term, low-interest traditional loans, their technology makes small business lending simple. "
target: Billy
Billy is a cloud-based small business accounting platform. A billing and expense tracking solution, Billy gives solopreneurs and small business owners real-time insight into their business finances, allowing for more streamlined accounting, invoicing, reporting and access to capital.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/1/2019 via GlobeNewswire

H & R Block, Inc., acquired Wave Financials Inc.

synopsis: H&R Block, Inc. has acquired Canda-based Wave HQ Inc., a rapidly growing financial solutions platform focused on changing the way small business owners manage their finances. Wave provides accounting, invoicing, payroll, and payments software solutions, as well as bookkeeping services, built into a comprehensive platform.
buyer: H & R Block, Inc. (HRB:$3,094.88)
H&R Block, Inc. is a global consumer tax services provider. Tax return preparation services are provided by professional tax preparers in company-owned and franchise retail tax offices, and through H&R Block tax software products. H&R Block also offers adjacent Tax Plus products and services. "
target: Wave Financials Inc.
Canada-based Wave Financial Inc. provides software solutions and related services designed to help small business owners manage their finances. Wave provides accounting, invoicing, payroll, and payments software solutions, as well as bookkeeping services, built into a comprehensive platform.
price ($mm)
$405
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/26/2018 via Company Press Release

Visma ASA, acquired Merit Tarkvara AS

synopsis: Visma expands its geographic footprint and strengthens its Northern European leadership in cloud-based ERP for accountants and the SMB segment with the acquisition of Estonia based Merit Tarkvara. Merit Tarkvara was founded 27 years ago, based on accounting, payroll and stock managing software.
buyer: Visma ASA
Based in Norway, Visma makes businesses more efficient, through offerings of software, commerce solutions, retail IT-solutions, and IT-related projects and consulting. Visma simplifies and digitalizes core business processes within the private and public sector. "
target: Merit Tarkvara AS
Merit Tarkvara was founded 27 years ago, based on accounting, payroll and stock managing software, with the key products Merit Aktiva and Merit Palk as effective and accessible cloud-based tools for both accountants and small business owners. Merit Tarkvara is headquartered in Estonia.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/6/2018 via Company Press Release

Cegid SA, acquired Loop Software SAS

synopsis: Cegid, a major player in management solutions for professionals in Accounting, Finance and Tax, Payroll and Human Resources and Retail, announces the acquisition of the Loop Software (Loop). Loop is a web-based software publisher dedicated to accounting experts and SMEs.
buyer: Cegid SA
A leader in digital transformation, Cegid offers management systems and cloud services to help customers improve their performance. Cegid group offers a wide range of solutions for financial management, taxation and human resources, as well as business applications. "
target parent: KPMG International
target: Loop Software SAS
Loop is a web-based software publisher dedicated to accounting experts and SMEs. The company was born in 2012 from the meeting of accounting professionals and specialists in web technologies.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/6/2018 via BNC Analysis

die Mobiliar, acquired bexio AG

synopsis: bexio, part of the RedAlpine fund, has been acquired by die Mobiliar, the oldest private insurance company in Switzerland. bexio provides SMBs with customer management, order processing, easy bookkeeping and integrated E-Banking.
buyer: die Mobiliar
die Mobiliar is the oldest private insurance company in Switzerland. The company has over 80 agencies throughout Switzerland and offers their services 24 hours a day, 365 days a year. They offer home insurance, building insurance, auto insurance, life insurance, business insurance, and more. "
target parent: RedAlpine
target: bexio AG
Based in Switzerland, bexio offers cloud-based business and accounting software solutions to manage their customers, write quotes and invoices, and more. It develops and sells accounting software for small and medium companies.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/18/2018 via BNC Analysis

Nubox S.A., acquired Colppy

synopsis: Nubox, a Chilean provider of a cloud-based, next-generation accounting and payroll platform for small businesses, has acquired Colppy, a company in Argentina that offers an online accounting and management system for small businesses. Colppy's platform can automatically calculate taxes, generate reports, send invoices online, and more.
buyer: Nubox S.A.
Nubox is a Chilean provider of a cloud-based, next-generation accounting and payroll platform for small businesses in Latin America. Their easy-to-use products allows small businesses to effortlessly manage their accounting, send invoices electronically, pay employees, track cash-flow, and more. "
target: Colppy
Colppy is a company in Argentina that offers an online accounting and management system for small businesses. Colppy allows businesses to manage their accounting from any computer or mobile device. The platform can automatically calculate taxes, generate reports, send invoices online, and more.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 3/28/2018 via BNC Analysis

The Royal Bank of Scotland, will acquire FreeAgent Inc.

synopsis: The Royal Bank of Scotland (RBS) has agreed to buy FreeAgent, a software provider for UK micro-businesses and their accountants. Trusted by over 60,000 businesses, FreeAgent's online accounting software brings everything together, from invoice and expense management to project management and sales tax.
buyer: The Royal Bank of Scotland (LSE:RBS:$17,860.82)
The Royal Bank of Scotland Group (RBS) provides financial products and services to personal and business customers throughout the UK and beyond. RBS serves around 18.9 million customers across the globe, and RBS aims to consistently meet their needs wherever they are. "
target: FreeAgent Inc. (:$12.68)
FreeAgent provides online accounting software made specifically for freelancers, small business owners and their accountants. Trusted by over 60,000 businesses, FreeAgent's online accounting software brings everything together, from invoice and expense management to project management and sales tax.
price ($mm)[EV]
$69 [$64]
rev ($mm)
$13
EBITDA ($mm)
EV / rev
5.2x
EV / EBITDA
closed 4/27/2017 via BNC Analysis

Syska, acquired Syska

synopsis: Syska is once again independent after completing a management buyout. Angelika Benes, Managing Director of Syska, acquired the company from its parent, Sage. Founded in 1992, Syska is a Karlsuhe, Germany-based provider of accounting software for small and medium-sized companies.
buyer: Syska
Syska GmbH, headquartered in Karlsruhe, Germany, specializes in the development of accounting software for small and medium-sized companies. Their user friendly accounting software is easy to use and can be integrated into existing IT environments. "
target parent: The Sage Group plc.
target: Syska
Syska GmbH, headquartered in Karlsruhe, Germany, specializes in the development of accounting software for small and medium-sized companies. Their user friendly accounting software is easy to use and can be integrated into existing IT environments.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/23/2016 via BNC Analysis

TeamSystem SpA, acquired e-conomic International

synopsis: Hellman & Friedman-backed TeamSystem has wholly acquired Danish cloud accounting business E-conomic International. Founded in 2001 and headquartered in Copenhagen, E-conomic develops software focusing on accounting services for SMEs. The acquisition is part of TeamSystem's M&A strategy, expanding its product offering to cloud-based marketplaces.
buyer parent: Hellman & Friedman LLC
buyer: TeamSystem SpA
TeamSystem is the largest provider of accounting, payroll, and business management software for accountants and small and medium-sized enterprises in Italy. The Company offers a broad range of mission-critical, on-premise and cloud solutions to a diversified base of its customers. "
target parent: Visma ASA
target: e-conomic International
Founded in 2001 and headquartered in Copenhagen, E-conomic develops a software focusing on accounting services for SMEs. The company claims 2,500 clients across southern Europe, England and Germany, and currently employs 15 people.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 3/14/2016 via Company Press Release

Visma ASA, will acquire Fortnox AB

synopsis: Visma AS, a leading provider of business software, outsourcing services and services for accounting and administration in the Nordics, announced a recommended public cash offer to the shareholders of Fortnox AB to tender all their shares in Fortnox to Visma. Fortnox provides accounting and financial systems for small and medium-sized companies.
buyer: Visma ASA
Visma is the leading provider of business software and services for accounting and administration. Visma is known for developing leading software solutions and high-quality services for satisfied customers in combination with financial strength and solid growth. "
target: Fortnox AB (:$17.37)
With approximately 115,000 customers, Fortnox is a leading provider of accounting and financial systems for small and medium-sized companies, associations, schools and accounting firms. Fortnox offers a full range of programs including accounting, billing, sales support, time tracking and payroll.
price ($mm)[EV]
$168 [$163]
rev ($mm)
$17
EBITDA ($mm)
$4
EV / rev
9.4x
EV / EBITDA
46.1x
closed 3/31/2016 via BusinessWire

H.I.G. Capital, acquired Quicken Investment Services, Inc.

synopsis: Quicken, the leading personal finance software that empowers consumers to easily manage their finances, announces that H.I.G. Capital, a leading global investment firm, has completed its acquisition of the company. Quicken, a top personal money management software, has been the trusted financial solution for millions of consumers.
buyer: H.I.G. Capital
H.I.G. Capital is a leading global private equity and alternative assets investment firm with more than $19 billion of equity capital under management. H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies. "
target parent: Intuit, Inc.
target: Quicken Investment Services, Inc.
Quicken Investment Services, Inc. provides software and services to manage personal and small business finances. The company offers personal finance products, such as Quicken Online to control personal finances and Quicken Deluxe to get a snapshot of monthly spending.
price ($mm)
rev ($mm)
$51
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 12/7/2015 via Company Press Release

Hellman & Friedman LLC, acquired TeamSystem SpA

synopsis: Private equity funds affiliated with Hellman & Friedman LLC acquire a controlling interest in TeamSystem Holding SpA. TeamSystem, founded in 1979, is a leading provider of software applications to professionals and enterprises in Italy across different segments, offering a broad range of business-critical, on-premise and on-cloud solutions.
buyer: Hellman & Friedman LLC
Hellman & Friedman is a leading private equity investment firm that focuses on investing in superior business franchises and serving as a value-added partner to management in select industries including software, internet & media, financial services, business & information services, and more. "
target parent: HgCapital
target: TeamSystem SpA
TeamSystem is a leading provider of business critical, regulatory driven software products to accountants, labour professionals and SMEs in Italy. Headquartered in Pesaro, the company has a large and diversified base of 185,000 customers. It has 27 offices across Italy and employs over 1,700 people.
price ($mm)
$1,272
rev ($mm)
$271
EBITDA ($mm)
$58
EV / rev
4.7x
EV / EBITDA
21.8x
announced 11/13/2014 via Reuters

ORIX Corporation, will acquire Yayoi Co., Ltd.

synopsis: ORIX Corporation, a leading integrated financial services group, announced that an agreement has been reached to acquire Yayoi Co., Ltd., a software developer, distributor, and support service provider targeting small businesses.
buyer: ORIX Corporation (TSE:8591:$21,958.75)
ORIX Corporation is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers. "
target: Yayoi Co., Ltd.
Yayoi is a software service provider that engages in software development, marketing, and provision of post-installation support services for its business management software such as accounting software "Yayoi Accounting" and tax filing software "Yayoi Blue Tax Filing."
price ($mm)
$691
rev ($mm)
$147
EBITDA ($mm)
EV / rev
4.7x
EV / EBITDA
closed 10/8/2014 via BNC Analysis

e-conomic International, acquired SpeedLedger AB

synopsis: e-conomic International, backed by private equity investor HgCapital, announced that its holding company has acquired a majority stake in Gothenburg-based SaaS accounting firm, SpeedLedger, a Swedish leader in web-based accounting for micro businesses and the second largest company in Sweden’s web-based accounting sector.
buyer: e-conomic International
e-conomic International A/S is one of Europe’s leading Software as a Service (‘SaaS’) accounting and SME solution providers. e-conomic online accounting software is easy to use and specially developed for small and medium-sized companies. "
target: SpeedLedger AB
SpeedLedger is a Swedish leader in web-based accounting for micro businesses and the second largest company in Sweden’s web-based accounting sector. The company has 55 employees and a customer base of more than 25,000 companies.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 2/5/2014 via BNC Analysis

Thomson Reuters, acquired Dominio Sistemas

synopsis: US media and information company Thomson Reuters announced the acquisition of Brazilian accounting software developer Dominio Sistemas Ltda. Dominio specializes in the development and implementation of accounting management and tax management software solutions for accounting firms, and micro- and small companies in Brazil.
buyer: Thomson Reuters (TRI:$5,906.00)
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. It combines industry expertise with innovative technology to deliver critical information to leading decision makers. "
target: Dominio Sistemas
Domínio Sistemas Ltda. develops and provides accounting solutions and software for large, medium, small companies and enterprises. Its products include Accounting Plus, a solution for managing accounting firms. Domínio Sistemas Ltda. was incorporated in 1998 and is based in Criciúma, Brazil.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA

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Intuit, Inc.
Intuit, Inc.
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, simplify small business management and payroll processing, personal finance, and tax preparation and filing.
year
2020
rev ($mm)
$7,127.00
EBITDA ($mm)
$2,116.00
EBIT ($mm)
$1,911.00
Net Income ($mm)
$1,631.00
Employees
9400
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Ticker: LSE:SGE
 
 
 
 
 
 
 
 
The Sage Group plc.
The Sage Group plc.
Sage is the market and technology leader for integrated accounting, payroll and payment systems, supporting the ambition of entrepreneurs and business builders. Sage helps drive business builders with the most intelligent and flexible cloud-enabled software, support and advice to manage everything.
year
2019
rev ($mm)
$2,516.54
EBITDA ($mm)
$683.73
EBIT ($mm)
$578.44
Net Income ($mm)
$345.76
Employees
13003
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Ticker: ASX:XRO
 
 
 
 
 
 
 
 
Xero Limited
Xero Limited
Xero provides online accounting software and services for small to medium sized businesses. Its accounting system has a cashbook, automated daily bank feeds, invoicing, debtors, creditors, sales tax and reporting.
year
2018
rev ($mm)
$324.04
EBITDA ($mm)
($3.76)
EBIT ($mm)
($9.88)
Net Income ($mm)
Employees
2302
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Ticker: ASX:RKN
 
 
 
 
 
 
 
 
Reckon Limited
Reckon Limited
Reckon Limited (RKN) is an Australian publicly listed company well known as a leading provider of software solutions for accounting and bookkeeping professionals, as well as small to medium sized businesses, small office/home office users and personal wealth management.
year
2017
rev ($mm)
$73.92
EBITDA ($mm)
$14.15
EBIT ($mm)
$10.70
Net Income ($mm)
$7.78
Employees
118
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Ticker: MOBO
 
 
 
 
 
 
 
 
Mobile Lads Corp.
Mobile Lads Corp. designs and delivers secure wide-area wireless transaction software solutions for the consumer finance and payment processing industry sectors. Mobile Lads provides solutions for seamless access to time-sensitive information and data on multiple network standards.
year
2014
rev ($mm)
EBITDA ($mm)
EBIT ($mm)
($0.04)
Net Income ($mm)
Employees
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Ticker: HLSE:BAS1V
 
 
 
 
 
 
 
 
BasWare Oyj
BasWare Oyj
Basware is the global leader in providing purchase-to-pay and e-invoicing solutions in the world of commerce. Basware empowers companies to unlock value across their financial operations by simplifying and streamlining key financial processes.
year
2017
rev ($mm)
$184.50
EBITDA ($mm)
$0.83
EBIT ($mm)
($11.67)
Net Income ($mm)
Employees
1829
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