Like Fortnox AB

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 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)
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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)
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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)
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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)
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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)
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EV / rev
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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)
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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
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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)
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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)
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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 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)
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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 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)
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announced 9/18/2013 via Company Press Release

Stratatel Limited, will acquire JCurve Solutions

synopsis: Stratatel Limited, an Australian software company providing cloud-based telecommunications expense management solutions to businesses internationally, is pleased to announce it has signed a Heads of Agreement to acquire the software design and promotion business of JCurve Solutions, a leading cloud-based accounting and ERP software provider.
buyer: Stratatel Limited
Stratatel Limited provides specialised and innovative business-to-business software solutions and services. Founded in 1997, Stratatel developed its flagship business software solution FleetManager to enable organisations to monitor and manage their telecommunications. "
target: JCurve Solutions (ASX:JCS:$8.13)
JCurve are one of the only providers of a fully featured, fully integrated system specifically tailored to the needs of small businesses in the Australia and New Zealand region. Its software is delivered in the ‘Cloud’ and is steadily increasing its market share in Australia and New Zealand.
price ($mm)
$3.27
rev ($mm)
$1
EBITDA ($mm)
EV / rev
3.1x
EV / EBITDA
closed 8/19/2013 via PE Hub

HgCapital, acquired e-conomic International

synopsis: HgCapital announced that it has acquired e-conomic. Founded in 2001 in Copenhagen, e-conomic is Europe’s leading and largest SaaS accounting company for SMEs with c. 60,000 customers for its core product, and c. 100,000 customers for its freemium invoicing and expenses product Debitoor.
buyer: HgCapital
HgCapital is a leading investor in the European private equity market. Successor to Mercury Private Equity, which was acquired by Merrill Lynch. Mercury Private Equity staff acquired the business from Merrill Lynch and renamed it HgCapital. HgCapital has funds under management of €2.5 billion. "
target: e-conomic International
e-conomic online accounting software is easy to use and specially developed for small and medium-sized companies. With more than 85,000 companies as customers on a worldwide basis, e-conomic is the largest online accounting software in Europe.
price ($mm)
rev ($mm)
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closed 6/14/2011 via PR Newswire

CCH Incorporated, acquired Twinfield International N.V

synopsis: Wolters Kluwer Tax & Accounting announced the acquisition of Twinfield, a Dutch-based pioneer and market leader in online accounting software. Through this acquisition, Wolters Kluwer expands and complements its existing offering of advanced software solutions for accountants and finance professionals in SMEs.
buyer parent: Wolters Kluwer NV
buyer: CCH Incorporated
CCH is the leading provider of tax, accounting and audit information, software and services for professionals. CCH is part of the global tax and accounting leader, Wolters Kluwer Tax & Accounting. "
target: Twinfield International N.V
Twinfield International is a market leader in online accounting software, serving professionals in the Netherlands, UK and Scandinavia. With more than 80,000 administrations managed online, it is an undisputed leader in online, SaaS-based collaborative accounting solutions in Europe.
price ($mm)
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closed 11/3/2010 via Company Press Release

Kaseya International Limited, acquired ObjAcct, Inc.

synopsis: Kaseya announced the acquisition of substantially all of the assets of ObjAcct, Inc., the makers of ObjAcct XML Accounting Suite. IT professionals will now be able to analyze and report combined technical and financial data to assist in the alignment of IT with the overall business goals of the organization.
buyer: Kaseya International Limited
Kaseya is the leading global provider of IT Systems Management software. Kaseya solutions empower everyone from individual consumers to large corporations and IT service providers to proactively manage and control IT assets remotely, easily and efficiently from one integrated Web-based platform. "
target: ObjAcct, Inc.
ObjAcct, Inc., founded by Lee Mellinger in 2003, is a leading edge accounting software company and the developers of ObjAcct Suite, the world's first XML web service based accounting platform.
price ($mm)
rev ($mm)
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closed 9/27/2019 via Company Press Release

The Sage Group plc., acquired AutoEntry

synopsis: Sage, a global market leader in cloud business management solutions, today announced it has acquired the Dublin-based AutoEntry, a leading provider of data entry automation for accountants, bookkeepers, and businesses. The acquisition accelerates Sage’s goal to become a quality SaaS company and follows a successful two-year partnership.
buyer: The Sage Group plc. (LSE:SGE:$2,459.53)
Sage is a global market leader for technology that helps businesses of all sizes manage everything from money to people. They accomplish this via Sage Business Cloud, a business management solution comprising Accounting, Sage Intacct, Enterprise Management, People & Payroll, and Payments & Banking. "
target: AutoEntry
Ireland-based AutoEntry is an intelligent, automated solution developed by OCRex for accountants, bookkeepers, and Small-to-Medium Enterprises. AutoEntry captures and analyses scanned and photographed paper documents, automating data entry into a user’s accounting software, Excel, or CSV.
price ($mm)
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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 5/13/2020 via Company Press Release

Visma Advantage, acquired Nmbrs

synopsis: Visma Group, the leading provider of business software and business processes for accounting & payroll, has acquired Nmbrs, an Amsterdam-based supplier of HR and payroll software. Nmbrs offers an online platform for optimizing and managing HR and payroll processes.
buyer parent: Kohlberg Kravis Roberts & Co.
buyer: Visma Advantage
Visma is the leading provider of business software and business processes for accounting & payroll. The group comprises five business areas which are Visma Software, Visma BPO Accounting & Payroll, Visma Procurement & Collecting, Visma Retail and Visma System Development & Integration. "
target: Nmbrs
Nmbrs is an Amsterdam-based HR and payroll software supplier. Nmbrs offers an online platform for optimizing and managing HR and payroll processes. Their platform enables users to create hundreds of payslips and keep up to date with information relating to their employees.
price ($mm)
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closed 5/13/2020 via Company Press Release

Visma Advantage, acquired Zetech S.A.

synopsis: Visma, the leading Norwegian provider of business software and business processes for accounting & payroll, has acquired Argentina based Zetech, a leading provider of digital signature and document management solutions. The acquisition of Zetech strengthens Visma's offering of HR cloud solutions in Latin America.
buyer parent: Kohlberg Kravis Roberts & Co.
buyer: Visma Advantage
Visma is the leading provider of business software and business processes for accounting & payroll. The group comprises five business areas which are Visma Software, Visma BPO Accounting & Payroll, Visma Procurement & Collecting, Visma Retail and Visma System Development & Integration. "
target: Zetech S.A.
Argentina-based Zetech was founded to improve access to information for organizations and companies through cutting-edge technology. The company has developed a number of widely used technological and innovative solutions in digital signature and document management.
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closed 4/8/2020 via Company Press Release

Visma Advantage, acquired Specter AB

synopsis: Norway-based Visma has acquired Specter, a preferred supplier of business systems for e-commerce and omnichannel sales based in Sweden. Specter's key product, Specter Business Management, is a cloud-based retail Enterprise Resource Planning and business management system with a strong focus on automation and user-friendliness.
buyer: Visma Advantage
Visma is the leading provider of business software and business processes for accounting & payroll. The group comprises five business areas which are Visma Software, Visma BPO Accounting & Payroll, Visma Procurement & Collecting, Visma Retail and Visma System Development & Integration. "
target: Specter AB
Sweden-based Specter is one of the first providers in the market for web-based systems. The company's flagship product, Specter Business Management, is a cloud-based retail Enterprise Resource Planning and business management system with a strong focus on automation and user friendliness.
price ($mm)
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announced 2/20/2020 via Company Press Release

Visma Advantage, will acquire OnGuard International Holding BV

synopsis: Visma has signed an agreement with Main Capital to acquire Onguard. Based in Amsterdam, Netherlands, Onguard is a European market leader in cloud-based order-to-cash solutions, providing an end-to-end product suite ranging from solutions for risk management and invoicing to credit management and collections.
buyer: Visma Advantage
Visma is the leading provider of business software and business processes for accounting & payroll. The group comprises five business areas which are Visma Software, Visma BPO Accounting & Payroll, Visma Procurement & Collecting, Visma Retail and Visma System Development & Integration. "
target parent: Main Capital Partners BV
target: OnGuard International Holding BV
Based in Amsterdam, Netherlands, Onguard is a European market leader in cloud-based order-to-cash solutions, providing an end-to-end product suite ranging from solutions for risk management and invoicing to credit management and collections.
price ($mm)
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announced 12/11/2019 via Company Press Release

Visma Advantage, will acquire Inyett AB

synopsis: Visma, a leading provider of business software, will acquire a majority stake in Inyett, a provider of solutions for automated checks of supplier payments for the public and private sector in Sweden and Norway. Inyett provides a smart service that helps their clients avoid unnecessary risks and unpleasant fraud attempts when they make payments.
buyer parent: Kohlberg Kravis Roberts & Co.
buyer: Visma Advantage
Visma is the leading provider of business software and business processes for accounting & payroll. The group comprises five business areas which are Visma Software, Visma BPO Accounting & Payroll, Visma Procurement & Collecting, Visma Retail and Visma System Development & Integration. "
target: Inyett AB
Inyett is a leading provider of solutions for automated checks of supplier payments for the public and private sector in Sweden and Norway. Inyett provides a smart service that helps their clients avoid unnecessary risks, unintentional mistakes and unpleasant fraud attempts when they make payments.
price ($mm)
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closed 10/31/2018 via Company Press Release

Visma ASA, acquired Lessmore

synopsis: Visma Advantage, a leading provider of business software and business processes has acquired Swedish procurement company Lessmore. Lessmore is a business supplies and equipment company providing an internet based system that allows businesses to sell their services and products internationally.
buyer parent: Kohlberg Kravis Roberts & Co.
buyer: Visma ASA
Visma Advantage is the leading provider of business software and business processes for accounting & payroll. The group comprises five business areas which are Visma Software, Visma BPO Accounting & Payroll, Visma Procurement & Collecting, Visma Retail and Visma System Development & Integration. "
target: Lessmore
LessMore develops and operates an Internet based system that allows businesses to sell their services and products in Sweden, Ireland, and internationally. The company’s solution also allows employers to offer discounts from various vendors to their employees.
price ($mm)
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closed 10/10/2018 via Company Press Release

Visma ASA, acquired Számlázz.hu

synopsis: Visma, the largest software company in the Nordic region, has acquired Számlázz.hu, a Hungarian provider of cloud-based billing and invoicing services. Számlázz.hu's professional financial technology services enables their customers to save time and money while making their businesses more successful.
buyer parent: Kohlberg Kravis Roberts & Co.
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: Számlázz.hu
Számlázz.hu is the number one FinTech company in the Hungarian online billing and invoicing software market. Számlázz.hu's professional financial technology services enables their customers to save time and money while making their businesses more successful.
price ($mm)
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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)
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closed 7/18/2018 via Company Press Release

Visma ASA, acquired Pink Web Applications B.V.

synopsis: Visma, the largest software company in the Nordic region, has acquired Pink Web Applications, a Dutch company that offers a cloud-based communication and collaboration platform. Pink Web's Client Online platform facilitates communication between employees at accounting firms, their clients, and data retrieval parties.
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: Pink Web Applications B.V.
Pink Web Applications is a Dutch company that offers a cloud-based communication and collaboration platform. Their Client Online platform facilitates communication between employees at accounting firms, their clients, and data retrieval parties and allows users to pro-actively serve their clients.
price ($mm)
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closed 6/20/2018 via BNC Analysis

Axcel Industriinvestor A/S, acquired Loopia AB

synopsis: Axcel, a Nordic private equity firm, has acquired Loopia from Visma, the largest software company in the Nordic region. Loopia is one of Scandinavia’s largest web hosting companies. Loopia provides web hosting and domain name services and has helped more than 225,000 companies set up websites, emails, and e-commerce sites quickly and easily.
buyer: Axcel Industriinvestor A/S
Founded in 1994, Axcel is a Nordic private equity firm focusing on mid-market companies and has a broad base of both Danish and international investors. Axcel has made 49 platform investments, more than 90 major add-on investments and 38 exits. "
target parent: Visma ASA
target: Loopia AB
Founded in 1999, Loopia is one of Scandinavia’s largest web hosting companies. Loopia provides web hosting and domain name services at a low cost. Loopia has helped more than 225,000 companies set up websites, emails, and e-commerce sites quickly and easily.
price ($mm)
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announced 6/18/2018 via Company Press Release

Visma ASA, will acquire Wikinggruppen

synopsis: Visma ASA, a Norwegian IT consulting company mainly in the retail industry, has acquired Wikinggruppen, a supplier of e-commerce and related system envelopment. They provide graphic design, UX design, custom programming, and e-commerce solution operations.
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: Wikinggruppen
Wikinggruppen is a total supplier of e-commerce and related system development with offices in Hudiksvall and Stockholm. They provide graphic design, UX design, custom programming, and e-commerce solution operations for 1,200 online stores and web-based systems with 3,500 large and small customers.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/29/2018 via Company Press Release

Visma ASA, will acquire Raet BV

synopsis: Visma Group and Raet have signed an agreement whereby Visma intends to acquire 100 percent of the shares of Raet. Raet, founded in the Netherlands in 1965, specializes in world-class HR cloud software and HR services, which support the HR needs of over 10,000 organizations.
buyer: Visma ASA
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 parent: HgCapital
target: Raet BV
Raet, founded in the Netherlands in 1965, specializes in world-class HR cloud software and HR services, which support the HR needs of over 10,000 organizations. Raet simplifies and digitalizes HR for 3 million people internationally through its cloud solutions.
price ($mm)
rev ($mm)
$190
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 4/26/2018 via Company Press Release

Visma Consulting, acquired Kapacity A/S

synopsis: Visma Consulting, a part of the Visma Group, which is one of the leading IT companies in the Nordic region, has acquired Kapacity, a Danish consulting company that provides consulting in business analytics and data warehouse solutions based primarily on solutions from Microsoft, IBM and TARGIT.
buyer parent: Visma ASA
buyer: Visma Consulting
Visma Consulting is part of the Visma Group, which is one of the leading IT companies in the Nordic region. In Denmark, Visma Consulting provides advice and develops software for a wide range of public and private customers. "
target: Kapacity A/S
Kapacity is a Danish consulting company that provides consulting in business analytics and data warehouse solutions based primarily on solutions from Microsoft, IBM and TARGIT. The company was founded in 2008 and employs 75 employees at the offices in Kolding, Aarhus and Copenhagen.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/17/2018 via Company Press Release

Visma ASA, acquired OptiWay

synopsis: Visma announced it has acquired OptiWay, a fast-growing Swedish company with expertise in geographic IT services and solutions. OptiWay AB delivers high quality consultancy services in geographic IT and develops geodata products on the local and international markets.
buyer: Visma ASA
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: OptiWay
OptiWay AB delivers high quality consultancy services in geographic IT and develops geodata products on the local and international markets. The company was founded in 2005 and has since then helped customers and partners identify, define and realize their business and technological capabilities.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/17/2018 via BNC Analysis

Visma ASA, acquired Co3

synopsis: Visma, the largest software company in the Nordic region, has bought a majority stake in Co3. Co3 A/S designs and develops websites, B2B webshops, and B2C webshops. The company was incorporated in 1999 and is based in Ikast, Denmark.
buyer: Visma ASA
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: Co3
Co3 A/S designs and develops websites, B2B webshops, and B2C webshops. The company was incorporated in 1999 and is based in Ikast, Denmark.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/4/2017 via Company Press Release

Visma ASA, acquired Admincontrol

synopsis: Visma, a company that offers software, commerce solutions, retail IT-solutions, and IT-related projects and consulting, has acquired Admincontrol, a company that offers web-based solutions as well as a separate iPad and iPhone app for secure interactions and easy sharing of documents in business processes.
buyer: Visma ASA
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 parent: Herkules Capital
target: Admincontrol
Admincontrol offers web-based solutions as well as a separate iPad and iPhone app for secure interactions and easy sharing of documents in business processes such as board and management work, due diligence, capital injections and stock exchange listings.
price ($mm)
rev ($mm)
$12
EBITDA ($mm)
$3
EV / rev
0.0x
EV / EBITDA
0.0x
closed 4/19/2017 via Company Press Release

Visma ASA, acquired NYCE.Logic

synopsis: Visma acquired NYCE Solutions AB, a company that specializes in solving complex storage and logistics situations with its standard software NYCE.Logic WMS. NYCE Solutions has developed a WMS (Warehouse Management System) which includes functions such as voice picking, warehouse control, cross docking and mobile interfaces.
buyer: Visma ASA
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: NYCE.Logic
NYCE Solutions are IT specialists, streamlining and automating both physical flows and information flows which solve complex warehouse and logistics situations. Their warehouse management system NYCE.LOGIC WMS helps companies in where logistics is business critical to achieve efficiency.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/28/2016 via Company Press Release

Visma ASA, acquired Movenium Oy

synopsis: Visma acquired Movenium Oy, a product leader within the construction site management solutions. Visma expands and strengthens its cloud software offering with their acquisition. The acquisition also strengthens Visma’s position in Finland and Sweden and gives additional capacity to enhance the service offer for existing and new customers.
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: Movenium Oy
Movenium focuses on work time tracking for the construction, industrial and cleaning sectors. Their goal is to improve customers’ profitability by means of system solutions that intensify and make their business operations more effective.
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
closed 5/3/2016 via Company Press Release

Visma ASA, acquired bWise AS

synopsis: Leading provider of business software and services for accounting, Visma, acquires bWise AS, Norway's leading centre of expertise within Business Intelligence, data warehouse and enterprise resource management. The acquisition strengthens Visma Consulting’s focus on Business Intelligence.
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 parent: Microsoft Corporation
target: bWise AS
bWise is Norway's leading centre of expertise within Business Intelligence (BI), data warehouse and enterprise resource management solutions with over 300 completed projects. bWise was founded in 2007 and has 40 employees located in Oslo, Drammen and Stavanger.
price ($mm)[EV]
$13 [$12]
rev ($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 6/29/2020 via BNC Analysis

Kerson Wallaw Consulting Firm, acquired ACCEL PCI & Ubitrak Inc.

synopsis: Kerson Wallaw Inc., a provider of IT and cybersecurity professional services, announces the acquisition of Ubitrak and ACCEL-PCI. Ubitrak offers IT security services including computer security services, compliance and certification. ACCEL-PCI guides small-and-medium-sized merchants through the PCI DSS compliance process via web portal.
buyer: Kerson Wallaw Consulting Firm
Kerson Wallaw Consulting Firm Inc. offers professional IT and cybersecurity services including project management, software development and IS auditing services. Headquartered in Montreal, Quebec, it has a presence across Canada. "
target: ACCEL PCI & Ubitrak Inc.
ACCEL-PCI guides small-and-medium-sized merchants through the PCI DSS compliance process via a cost-effective web portal that facilitates the completion of the Self-Assessment Questionnaire (SAQ). Ubitrak offers IT security services to the travel industry, call centres, payment service providers.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/26/2020 via BNC Analysis

Iconic IT, LLC, acquired Wood Networks

synopsis: Iconic IT has acquired Woods Networks, a provider of IT services, such as help desk technical support, technology solutions, and IT consulting, to small and medium-sized businesses. The acquisition will help Iconic expand throughout East Texas, specifically in the areas of Tyler, Addison, and Dallas Fort Worth.
buyer: Iconic IT, LLC
Iconic IT provides the technology services that small to medium-sized businesses need to survive and thrive. The company offers cloud-based solutions, a cutting-edge cybersecurity platform, and fully managed or co-managed computer IT support options. "
target: Wood Networks
Wood Networks provides expert IT services, such as help desk technical support, technology solutions, and IT consulting to small and medium-sized businesses. The company offers enterprise-level IT practices and solutions to growing businesses throughout East Texas and the Dallas-Fort Worth area.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 6/25/2020 via GlobeNewswire

Xalles, will acquire 1Rivet

synopsis: Xalles Holdings Inc., a fintech holding company providing technology and financial services solutions, will acquire 100% of 1Rivet Global Inc. 1Rivet is a top-ranked, award-winning international IT technology solutions firm known for its unique ability to cost-effectively develop emerging technologies to resolve business challenges.
buyer: Xalles (OTCPK:XALL:$0.15)
Xalles Holdings Inc. is a holding company that focuses on direct investments in disruptive fintech companies. They actively seek acquisition targets with solid management teams and business models, large total attainable markets, and lucrative exit opportunities to invest and accelerate growth in. "
target: 1Rivet
1Rivet is a top-ranked, award-winning international IT technology solutions firm known for its unique ability to cost-effectively develop and apply emerging technologies to resolve global public- and private-sector business challenges.
price ($mm)
$0.23
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/23/2020 via PR Newswire

Wind Point Partners, acquired Corbett Technology Solutions, Inc.

synopsis: Tower Arch Capital LLC is pleased to announce that it has sold Corbett Technology Solutions, Inc. ("CTSI") to an affiliate of Wind Point Partners. CTSI is a leading communications solutions provider focused on identifying the specialized needs of its customers to deliver advanced technology solutions that produce positive business outcomes.
buyer: Wind Point Partners
Wind Point Partners is a private equity investment firm that partners with top caliber executives to acquire well-positioned middle market businesses where it can establish a clear path to value creation. "
target parent: Tower Arch Capital LLC
target: Corbett Technology Solutions, Inc.
For over five decades, CTSI (Corbett Technology Solutions, Inc.) has been at the forefront of technology integration and innovation with critical communications, collaboration, audiovisual and security solutions for enterprise, government, healthcare and education customers.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/22/2020 via BNC Analysis

Glemnet, acquired Cyber secure

synopsis: Glemnet, an independent service provider of telecoms, cloud communications and IT services in the UK, has acquired Cyber Secure, a provider of IT security services in the UK. Cyber Secure provides their services to SMEs and enterprise markets. They offer solutions for endpoint security, penetration testing, access control, networks, and more.
buyer: Glemnet
Glemnet is an independent service provider of telecoms, cloud communications and IT services to businesses of all sizes in the UK. Glemnet offers solutions for hosted cloud telephony, IT and cloud services, business internet, and business mobile. "
target: Cyber secure
Cyber Secure is an independent provider of IT security services in the UK. Cyber Secure provides their services to SMEs and enterprise markets to help them protect their assets from cyber threats. They offer solutions for endpoint security, penetration testing, access control, networks, and more.
price ($mm)
rev ($mm)
$0
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
announced 5/22/2020 via BNC Analysis

Bashtel, will acquire VoiceLink LLC

synopsis: Bashtel, the largest telecommunications company in Bashkortostan, will acquire a 51% stake in VoiceLink, a high-tech IT and system integration company in Russia. VoiceLink offers solutions and services for data management, corporate information systems, security systems, telecommunications, traffic control, engineering, and multimedia systems.
buyer parent: Rostelecom
buyer: Bashtel (MISX:BISV:$89.45)
Bashtel is the largest telecommunications company in Bashkortostan. Bashtel provides internet, television, and telephony services to private and business customers. Bashtel utilizes the latest technologies and equipment to provide their customers with high quality services. "
target: VoiceLink LLC
VoiceLink is a high-tech IT and system integration company in Russia. VoiceLink offers solutions and services for data management, corporate information systems, security systems, telecommunications, traffic control, engineering infrastructure, and multimedia systems.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/18/2020 via GlobeNewswire

Xalles, will acquire Argus Technology Partners

synopsis: Xalles Holdings Inc. a fintech holding company providing technology and financial services solutions, is to acquire 100% of Argus Technology Partners, Inc., a Florida based technology sales and solutions provider that provides technology services to companies and government agencies.
buyer: Xalles (OTCPK:XALL:$0.15)
Xalles Holdings Inc. is a holding company that focuses on direct investments in disruptive fintech companies. They actively seek acquisition targets with solid management teams and business models, large total attainable markets, and lucrative exit opportunities to invest and accelerate growth in. "
target: Argus Technology Partners
Argus Technology Partners, Inc. is a Florida based technology sales and solutions provider that provides technology services to companies and government agencies including information technology forensics, network architecture evaluation, managed network services, and business process reengineering.
price ($mm)
rev ($mm)
$3
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 3/16/2020 via BNC Analysis

IT Lab Limited, acquired Sol-Tec Limited

synopsis: IT Lab, a national award-winning IT support and technology services provider, has acquired Sol-Tec, a Microsoft Gold Cloud Platform and Gold Cloud Productivity Partner and Cloud Solutions Provider. Sol-Tec helps public sector organisations to transform their service delivery capabilities by achieving their digital transformation goals.
buyer parent: ECI Partners
buyer: IT Lab Limited
IT Lab is a national award-winning IT support and technology services provider delivering outsourcing, cloud, application and consultancy services based in London and Manchester. They create individually tailored solutions for their clients, focused on their business objectives. "
target: Sol-Tec Limited
Based in the UK, Sol-Tec is a Microsoft Gold Cloud Platform and Gold Cloud Productivity Partner and Cloud Solutions Provider (CSP). Sol-Tec helps public sector organisations to transform their service delivery capabilities by achieving their digital transformation goals.
price ($mm)
rev ($mm)
$10
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 3/11/2020 via Company Press Release

Dynamic Edge, acquired Tekkers IT Solutions

synopsis: Dynamic Edge, a Scottish IT service company that focuses on providing businesses with a cost-effective and resilient IT platform, has acquired Tekkers IT Solutions, a Hampshire-based information technology firm. Tekkers IT Solutions provides a broad range of services, including back up, consultancy, telephony, strategy, and security.
buyer: Dynamic Edge
Dynamic Edge is a UK based IT service company that focuses on providing businesses with a cost-effective and resilient IT platform. The company focuses on proactive IT support and provides a bespoke client monitoring solution that alerts its technical team and clients to problems before they happen."
target: Tekkers IT Solutions
Tekkers IT Solutions is a UK based provider of IT services and support to small to medium-sized businesses. The company offers customers a broad range of services, including back up, consultancy, telephony, strategy, and security.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 3/4/2020 via BNC Analysis

Freelance.com, will acquire INOP'S

synopsis: Freelance.com, the first online portal enabling companies to connect directly with freelancers in France, is to acquire a majority stake in INOP'S, a France-based company that develops a platform for the establishment of contact between French small medium enterprises (SMEs) with big companies for intellectual services of consulting or IT.
buyer: Freelance.com
Created in 1996, Freelance.com was the first online portal enabling companies to connect directly with freelancers. Today, Freelance.com is the leading player in France for payroll services with one of the largest freelancers community. "
target: INOP'S
INOP'S SAS develops a platform for establishment of contact between French small medium enterprises (SMEs) with big companies for intellectual services of consulting or IT. Inop's SAS was incorporated in 2009 and is based in Paris, France.
price ($mm)
rev ($mm)
$93
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 2/27/2020 via BNC Analysis

LANDRY et associés, acquired NexuWeb Inc.

synopsis: LANDRY et associés, a multidisciplinary firm in Canada specializing in risk management and performance management, has acquired NexuWeb, a Canadian provider of e-commerce security and development services. NexuWeb helps small and medium-sized enterprises to protect, manage and improve their web platforms.
buyer: LANDRY et associés
LANDRY et associés is a multidisciplinary firm in Canada specializing in risk management and performance management as well as technology and human capital management. LANDRY supports organizations through their business, operational, and technological challenges. "
target: NexuWeb Inc.
NexuWeb is a Canadian provider of e-commerce security and development services. NexuWeb helps small and medium-sized enterprises to protect, manage and improve their web platforms. Their solutions and services include e-commerce dashboards, protection systems, and anti-fraud systems.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 2/12/2020 via BNC Analysis

Colyar Technology Solutions, acquired Dynamic Internet Solutions

synopsis: Castle Harlan, Inc., the New York private equity firm, announced that its portfolio company, Colyar Technology Solutions, has acquired Dynamic Internet Solutions (DIS). DIS is an Arizona-based consulting firm that provides a wide variety of information technology products and services to local, state and federal government agencies.
buyer parent: Castle Harlan Inc.
buyer: Colyar Technology Solutions
Colyar Technology Solutions (CTS) is a full-service consulting firm and software company specializing in the design, development, and implementation of Child Nutrition, Food Distribution, Compliance and Menu Management software. "
target: Dynamic Internet Solutions
Dynamic Internet Solutions L.L.C. (DIS) is an Arizona-based consulting firm that provides a wide variety of information technology products and services to local, state and federal government agencies.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 2/5/2020 via BNC Analysis

HDI Group, acquired Perseus Technologies GmbH

synopsis: HDI Group, a major European insurance group that is active in the industrial and retail sectors, has acquired Perseus Technologies, a German company that specializes in the prevention of cyber risks and emergency cyber assistance. Perseus provides a comprehensive security-as-a-service solution for SMEs.
buyer parent: Talanx
buyer: HDI Group
HDI Group is a major European insurance group that is active in the industrial and retail sectors. HDI offers a complete range of products to insure against business risks. They offer insurance solutions for property & business interruptions, vehicles, engineering & construction, marine, and more. "
target: Perseus Technologies GmbH
Perseus is a German company that specializes in the prevention of cyber risks and emergency cyber assistance. Perseus provides a comprehensive security-as-a-service solution for SMEs. Their solution includes assessment, continuous risk management, human and AI-based prevention, and insurance.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/29/2020 via PR Newswire

Enterprise Computing Services, LLC merged with My IT New Orleans,

synopsis: Enterprise Computing Services LLC (ECS), a provider of computer solutions and custom services, has merged with My IT, a managed service provider for IT services to small and mid-sized businesses. The merger creates a premier IT managed service provider serving Louisiana and the surrounding Gulf South region.
buyer: My IT New Orleans
My IT is a managed service provider for IT services to small and mid-sized businesses. My IT offers a broad set of services, including managed IT, hosted cloud services, disaster recovery, virtual Chief Information Officer, VoIP, and security services. "
target: Enterprise Computing Services, LLC
Enterprise Computing Services (ECS) provides computer solutions and custom services for small to medium businesses, as well as large corporations, government, medical, and educational facilities. ECS provides support, strategy, and consulting to help businesses fully leverage modern technology.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/28/2020 via Company Press Release

Raymond Chabot Grant Thornton LLP, acquired Vars Corporation

synopsis: Raymond Chabot Grant Thornton, a Canadian professional services firm, has acquired VARS, a Montreal-based provider of cybersecurity solutions to small and mid-sized enterprises. With the acquisition, Raymond Chabot Grant Thornton positions itself as a leader in cybersecurity advice and solutions for businesses in all sectors and of all sizes.
buyer: Raymond Chabot Grant Thornton LLP
Raymond Chabot Grant Thornton is a Quebec based professional services firm dedicated to the success of organizations and their management. The firm is a leader in the areas of assurance, tax, advisory services, and business recovery and reorganization. "
target: Vars Corporation
Canada-based VARS provides custom cybersecurity solutions and skilled CISOs for businesses. The company offers small and mid-size enterprises various cybersecurity solutions, such as advanced security threat detection, 24/7 network monitoring, security awareness, phishing simulations, and more.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/16/2020 via BusinessWire

All Traffic Data, acquired Key Data Network

synopsis: All Traffic Data, a traffic data collection and analysis firm, announced that it has acquired Key Data Network, an Oregon-based provider of traffic data collection and analysis services for civil engineering firms and government transportation authorities in Oregon, Washington, and Texas.
buyer parent: Seaport Capital
buyer: All Traffic Data
Founded in 2001 in Wheat Ridge, CO, All Traffic Data provides traffic data collection and reporting, consulting services and transportation asset management to a multitude of civil engineering firms, state and local transportation authorities, commercial establishments and cities across the US. "
target: Key Data Network
Founded in 2016 in Lake Oswego, Oregon, Key Data Network provides traffic data collection and analysis for engineering and government customers.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/18/2019 via BusinessWire

Total Network Consulting LLC, acquired T3 Computer Services LLC

synopsis: Total Network Consulting, a provider of tailored technology solutions from conception, design, consulting, deployment, and management, has acquired T3 Computer Services, an Information Technology services provider to small and medium-sized businesses throughout the greater Charlotte, North Carolina area.
buyer: Total Network Consulting LLC
Total Network Consulting (TNC) provides technology solutions from conception, design, consulting, deployment, management, and support of communication issues. TNC offers project management, installation, and customer support for the implementation of commercial and high-end residential networks. "
target parent: Generational Equity
target: T3 Computer Services LLC
T3 Computer Services provides Information Technology services to small and medium-sized businesses. T3 provides comprehensive design, installation, and support services, and is the go-to source for many single and multi-location businesses in its operating region.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/2/2019 via BusinessWire

Accenture, acquired Apis Group

synopsis: Accenture has acquired Apis Group, a privately held Australian consultancy with deep industry expertise providing strategic advisory, digital design and delivery services to government organisations. This acquisition will bring additional capacity and further strengthen Accenture’s services to government and health clients in Australia.
buyer: Accenture (ACN:$44,655.80)
Accenture is a global professional services company, providing a range of services and solutions in strategy, consulting, digital, technology & operations. Accenture works at the intersection of business and technology to help clients improve their performance & create value for their stakeholders. "
target: Apis Group
Apis Group is a privately held Australian consultancy with deep industry expertise providing strategic advisory, digital design and delivery services to government organizations.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 11/27/2019 via BNC Analysis

Vodafone Group Plc, will acquire grandcentrix GmbH

synopsis: Leading telecoms and technology service provider Vodafone GmbH is to acquire grandcentrix, a Cologne, Germany-based IoT solution provider. Founded in Dortmund, grandcentrix is a system integrator for IoT, Smart Products and Distributed Ledger Technologies.
buyer: Vodafone Group Plc (LSE:VOD:$48,527.23)
Vodafone is one of the world’s largest telecommunications companies and provides a range of services including voice, messaging, data and fixed communications. Vodafone Group has mobile operations in 26 countries, partners with mobile networks in 50 more and fixed broadband operations in 19 markets."
target: grandcentrix GmbH
Founded in Dortmund, grandcentrix is a system integrator for IoT, Smart Products and Distributed Ledger Technologies. The company helps small and medium-sized enterprises bring their products including cameras, washing machine, Smart Home devices or professional tools to the Internet of Things.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA

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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: INTU
 
 
 
 
 
 
 
 
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: 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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Ticker: MMS
 
 
 
 
 
 
 
 
MAXIMUS, Inc.
MAXIMUS, Inc.
With a focus on more effective & efficient government programs, MAXIMUS operates under the mission of "Helping Government Serve the People." Their 16,000+ professionals deliver high-quality business process and technology solutions, as well as specialized consulting services for government agencies.
year
2016
rev ($mm)
$2,314.16
EBITDA ($mm)
$308.44
EBIT ($mm)
$256.49
Net Income ($mm)
$152.50
Employees
17000
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Ticker: JSE:BCX
 
 
 
 
 
 
 
 
Business Connexion
Business Connexion provides Information and Communication Technology products, services and solutions. They run mission-critical ICT systems and manage products, services and solutions for JSE listed and key public sector organisations, parastatals and small medium-sized enterprises.
year
2012
rev ($mm)
$583.93
EBITDA ($mm)
$59.67
EBIT ($mm)
$36.93
Net Income ($mm)
$14.96
Employees
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Ticker: ETEC
 
 
 
 
 
 
 
 
Emtec, Inc.
Emtec, Inc.
Emtec, Inc. provides industry-specific transformative digital solutions to world class organizations in the enterprise, government, and education markets. With offices in the U.S., Canada, and India, Emtec is big enough to address client needs yet small enough to provide individualized client care.
year
2013
rev ($mm)
$204.89
EBITDA ($mm)
$4.59
EBIT ($mm)
($0.09)
Net Income ($mm)
Employees
733
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Ticker: NEWT
 
 
 
 
 
 
 
 
Newtek Business Services, Inc.
Newtek Business Services, Inc.
Newtek Business Services Corp. is an internally managed Business Development Company, which along with its controlled portfolio companies, provides a wide range of business and financial solutions under the Newtek brand to the small- and medium-sized business market.
year
2019
rev ($mm)
$58.59
EBITDA ($mm)
$16.59
EBIT ($mm)
$16.08
Net Income ($mm)
$35.96
Employees
0
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Ticker: ASX:PSZ
 
 
 
 
 
 
 
 
PS&C Ltd
PS&C Ltd
PS&C is an information and communications technology (ICT) professional services entity. PS&C is focused on three business units: People, Security and Communications. These business units service a range of government and corporate organisations.
year
2019
rev ($mm)
$58.23
EBITDA ($mm)
$2.80
EBIT ($mm)
$2.56
Net Income ($mm)
Employees
305
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Ticker: AIM:PHD
 
 
 
 
 
 
 
 
Proactis Holdings PLC
Proactis Holdings PLC
PROACTIS is a global Spend Control and eProcurement solution provider. Over 800 organisations across 90 countries use PROACTIS software and services to transform their procurement, purchase-to-pay and accounts payable processes to deliver greater bottom-line value.
year
2018
rev ($mm)
$51.76
EBITDA ($mm)
$1.23
EBIT ($mm)
($0.85)
Net Income ($mm)
Employees
215
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Ticker:
 
 
 
 
 
 
 
 
Mascon Global Ltd.
Mascon Global Ltd.
Mascon Global Ltd. provides business and information technology (IT) consulting services to corporations and government agencies. Mascon develops custom software, provides network and systems integration, and conducts research and development.
year
2004
rev ($mm)
$49.90
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$0.70
Employees
1000
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Ticker: PDHO
 
 
 
 
 
 
 
 
Paradigm Solutions Corporation
Paradigm Solutions Corporation
Paradigm Solutions Corp. is a provider of IT and business solutions for US Federal Government enterprises. It specializes in comprehensive information assurance solutions involving cybersecurity and forensics as well as continuity of operations and disaster recovery planning.
year
2011
rev ($mm)
$39.96
EBITDA ($mm)
$2.08
EBIT ($mm)
$1.65
Net Income ($mm)
Employees
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Ticker: BSE:532307
 
 
 
 
 
 
 
 
Melstar Information Technologies Ltd.
Melstar Information Technologies Ltd.
Melstar is one of the major IT solution providers to the Banking, Insurance, Government and IT sectors. Being an end to end customized IT solutions provider, Melstar is one of the preferred vendors for software development services by global companies like IBM and Citibank.
year
2015
rev ($mm)
$3.38
EBITDA ($mm)
$0.21
EBIT ($mm)
$0.10
Net Income ($mm)
Employees
471
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Ticker: TSXV:ITM
 
 
 
 
 
 
 
 
Intema Solutions
Intema Solutions
Intema provides a wide range of software products and services to optimize marketing activities including helpdesk software, videoconferencing software, online visibility, behavioral email campaigns and a set of interacting applications to simplify and facilitate marketing and maximize results.
year
2019
rev ($mm)
$0.43
EBITDA ($mm)
($0.62)
EBIT ($mm)
($0.56)
Net Income ($mm)
Employees
0
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Ticker: RLTAY
 
 
 
 
 
 
 
 
Rolta
Rolta
Rolta is a leading provider of innovative IT solutions for many vertical segments, including Federal and State Governments, Defense/HLS, Utilities, Process, Power, Banking and Insurance.
year
2009
rev ($mm)
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
Employees
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Ticker: NINE
 
 
 
 
 
 
 
 
Ninetowns Internet Technology Group Company Limited
Ninetowns Internet Technology Group Company Limited
Ninetowns is a provider of online solutions for international trade, with its key services in automating import/export e-filing, as well as in providing effective and efficient business-to-business search. Ninetowns launched tootoo.com in 2007, providing vertical search and value added services.
year
2011
rev ($mm)
$75.22
EBITDA ($mm)
($21.52)
EBIT ($mm)
($41.57)
Net Income ($mm)
$3.53
Employees
509
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Ticker: NYSE:LDOS
 
 
 
 
 
 
 
 
Leidos
Leidos
Leidos is a science and technology solutions leader working to address some of the world’s toughest challenges in the defense, intelligence, homeland security, civil, and healthcare markets. The Company’s 33,000 employees support vital missions for their government and commercial customers.
year
2019
rev ($mm)
$10,787.00
EBITDA ($mm)
$1,063.00
EBIT ($mm)
$825.00
Net Income ($mm)
$674.00
Employees
32000
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Ticker: DRS
 
 
 
 
 
 
 
 
DRS Technologies, Inc.
DRS Technologies, Inc.
DRS Technologies is a leading supplier of integrated products, services and support to military forces, intelligence agencies and prime contractors worldwide. The Company has been recognized as one of the fastest growing defense technology companies in the world.
year
2008
rev ($mm)
$3,295.40
EBITDA ($mm)
$438.60
EBIT ($mm)
$360.40
Net Income ($mm)
$165.80
Employees
10200
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Ticker: CSPI
 
 
 
 
 
 
 
 
CSP Inc.
CSP Inc.
CSP Inc. develops and markets best-of-breed IT solutions, systems integration services, and high-performance computer systems. CSP's Systems segment includes the MultiComputer Division, which supplies high-performance Linux cluster systems for a broad array of defense applications.
year
2012
rev ($mm)
$84.81
EBITDA ($mm)
$5.43
EBIT ($mm)
$4.97
Net Income ($mm)
$6.61
Employees
147
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