Image Credit: AP Photo, The Atlanta Journal
Sometimes, selling out is the best success story a tech startup can have.
We've seen plenty of different exits this year--from mergers to acquisitions to full out closings. But a few were a bit more noteworthy than others.
Each month, we’ve included a wrap-up of all the merger and acquisitions announcements in the community and mentioned the top three announcements we believe to be the most important in the Beat.
Check out the year’s top exits below.
Note: Since Atlanta Inno did not officially launch until March 2018, we have only included funding announcements we have covered.
December
Coming soon…We will add the top three mergers and acquisitions after completing the list of all announcements for the month at the close of December.
November
- FSLogix, an Alpharetta-based virtual desktop startup, was acquired by its former partner, Microsoft, for an undisclosed amount. FSLogix was acquired to provide virtualized Windows and Office 365 on Microsoft Azure, a cloud computing service created by Microsoft for creating and managing applications and services, according to a Microsoft blog post announcing the acquisition. The startup has worked with small businesses to large corporations to to reduce resources, time and labor required to support virtualization, the blog post states.
- ARRIS International Plc, a Suwanee-based video tech company that produces entertainment, communications and networking technology, was acquired by Commscope for $7.4 billion, according to the Atlanta Business Chronicle. With the deal, a new company will be created with about $11.3 billion in revenue. This was the biggest exit we saw this month, and it’s not even an Atlanta company.
- OvalEdge, a data catalog company, was acquired by FutureTech Holding Company, a firm with strategic holdings in the financial, technology and healthcare sectors. Launched in 2013, OvalEdge is headquartered in Peachtree Corners and has a presence at Tech Alpharetta, a commission geared to support tech companies in Alpharetta. The company virtually centralizes all a company’s data into a single catalog, enabling users to quickly find data files, tables and social media content, according to a news release. It doesn’t appear that OvalEdge has raised any venture capital funding.
October
- Atlanta’s Purchasing Power, an employee purchase program offered as a voluntary benefit, acquired DoubleNet Pay, Inc., an Atlanta-based fintech startup. According to Purchasing Power representatives, the deal closed on Sept. 28 and is the first acquisition for the company. By purchasing the software technology assets of DoubleNet Pay, the company plans to provide automated savings and bill-paying to its U.S. employers and their employees. DoubleNet Pay has closed its Atlanta-based operations as a result of the acquisition. DoubleNet Pay CTO Bret Levy and co-founder Cody Laird have taken roles at Purchasing Power, while the remaining 12 employees have found work elsewhere. DoubleNet’s founder and CEO Brian Cosgray has joined Businessolver as the head of innovation works, according to LinkedIn.
- Atlanta-based fintech giant NCR, Corp. acquired a Pennsylvania-based provider of end-to-end payment processing services, JetPay, for $184 million. With the acquisition, the company stated it hopes to enter the payments processing business and integrate a cloud-based payments platform into its point-of-sale technology for the retail and hospitality industries, according to the Atlanta Business Chronicle.
- Johns Creek-based Bomgar, a portfolio company of Francisco Partners, completed its acquisition of Phoenix-based provider of privilege-centic access management solutions BeyondTrust from Veritas Capital.
September
- Inbox Pros, an Atlanta-based email marketing company, was acquired by Trendline Interactive, an Austin email marketing agency, according to a news release. Trendline Interactive acquired Inbox Pros with financial support from Growth Catalyst Partners, a lower-middle market private equity firm that invests in information, marketing and tech-enabled services businesses.
- RapidFire Tools, an Atlanta-based threat assessment and compliance tool company, was acquired by Kaseya, a provider of IT infrastructure management solutions for managed service providers and internal IT organizations. RapidFire Tools provides a suite of IT assessment, internal threat detection and compliance products, according to a news release. The company will continue to operate as a stand-alone, independent business-unit under Kaseya.
- HowStuffWorks, a podcast network based in Atlanta, and its parent company Stuff Media were acquired by iHeartMedia, a San Antonio-based mass media company. Though an original press release did not disclose the price, the Wall Street Journal reports the company was purchased for $55 million. iHeartMedia is the second-biggest podcast company, while Stuff Media is the fifth-largest podcast company, according to the report.
August
- Predikto, a predictive analytics software startup based in Atlanta that detects when plane engines will malfunction, was acquired by United Technologies Corporation, a Farmington, Conn.-based aircraft manufacturer. Predikto CEO Mario Montag said the company partnered with the United Technologies Digital accelerator in Brooklyn, as well as each of UTC’s business units. Montag joined UTC as vice president, chief data and analytics officer of United Technologies Digital. Financial terms of the deal were not disclosed. “In the near term, the team will build on the pilot project looking at engine failure prediction that we began with Pratt & Whitney prior to this acquisition,” he said. “Longer term, the team will look at opportunities to expand its predictive analytics expertise and capabilities across each of UTC’s businesses.”
- Atlanta’s recycling unicorn Rubicon Global acquired Charter Waste Management, Inc., the parent company of RiverRoad Waste Solutions, a waste and recycling company based in New Jersey, on June 30, according to company representatives. Financial terms of the deal were not disclosed. According to Fortune’s newsletter Term Sheet, the company has acquired two more waste brokers: Computerized Waste Systems and WestRock’s waste services division. Rubicon told Fortune the acquisitions “fit squarely into our portfolio and roadmap.”
- Global Payments, a fintech services company in Atlanta, acquired AdvancedMD, a Utah-based software provider for small-to-medium sized physician practices. The acquisition assisted shifting the company toward technology enablement, future growth and competitive differentiation, according to the Atlanta Business Chronicle [Subscriber Content].
July
- Bomgar, a global private cybersecurity firm headquartered in Atlanta, acquired Avecto, an endpoint security company headquartered in the United Kingdom with offices in Boston.
- NueMD, a SaaS platform for managing healthcare practices based in Marietta, was acquired by AdvancedMD, a portfolio company of Marlin Equity. With the deal, AdvancedMD increased its footprint across the continent by 27 percent, expanding its total number of medical practice clients and practitioners to 33,000, according to a press release. The company retained NueMD’s offices in Marietta. Financial details were not disclosed.
- Riskonnect, a Kennesaw-based integrated risk management solutions firm backed by Thoma Bravo, announced that the company acquired Marsh ClearSight LLC, a Chicago-based risk, safety and claims software and services company. Terms of the transaction were not disclosed. With the acquisition, Riskonnect plans to expand its offerings globally, according to a news release.
June
- Insightpool, an Atlanta-based social influencer database that helps brands expand their social reach, was acquired by TrendKite, an Austin digital PR firm that uses AI and big data to analyze and improve the reach of public relations campaigns. In addition to the Insightpool acquisition, TrendKite also acquired Austin-based Union Metrics.
- Massachusetts’ Verscend Technologies Inc., a Veritas Capital-based private equity firm, purchase Atlanta-based Cotiviti Holdings for $4.9 billion to create a new, private healthcare information tech company. In addition to supplying the cash, Veritas assumed all of Cotiviti’s debt.
- Peloton, a fitness tech company known for its internet-equipped stationary bike, acquired its first company, Neurotic Media, LLC, an Atlanta-based digital music aggregator, streaming and download source. According to company representatives, the B2B music platform from Neurotic Media is used to provide riders of Peloton’s stationary bike with a music experience as they pedal. Neurotic Media’s founder Shachar “Shac” Oren was promoted as a vice president at Peloton, while retaining his leadership role at Neurotic Media.
May
- Resurgens Technology Partners, an Atlanta-based private equity investor, purchased Assurance Business Continuity Management Program from Sungard Availability Services (Sungard AS), according to a news release. A new company was formed from the acquisition called Assurance Software, Inc., which will operate as a stand-alone entity in Wayne, Pa.
- PowerPlan, an Atlanta-based software company, was purchased for $1.1 billion in an all-cash deal by Roper Technologies Inc. from Thoma Bravo, according to Reuters. Thoma Bravo bought the company, which provides tax, regulatory and budgeting solutions, in 2015 for an undisclosed price.
- The cloud and business services unit of Atlanta-based Birch Communications was purchased for $600 million by Fusion Telecom. The company’s cloud and services were previously owned by Birch Equity Partners.
April
- Johns Creek, Ga.-based Bomgar was purchased by Francisco Partners from Thoma Bravo. Financial terms were not disclosed.
- Atlanta-based UserIQ, a B2B customer engagement startup, acquired Appunfold, a company based in India that focuses on customer tracking, desktop engagement and mobile engagement. Representatives from UserIQ said the acquisition helped the businesses have a unified view of customer engagement on desktops and mobile devices, while also providing an opportunity for targeted onboarding, product engagement campaigns and promotions with each platform.
- An Atlanta-based augmented reality startup that gained notoriety on the ABC investor show “Shark Tank” was acquired by Carvana, an online auto retailer. Car360, previously known as Egos Ventures, develops augmented reality software for the auto industry using photos taken with a mobile device. The company is best known for its car vending machines, including one here in Atlanta.
March
- Weather Group, the parent company of Atlanta-based media company The Weather Channel, was acquired by Entertainment Studios from Blackstone, Bain Capital and Comcast/NBC Universal. Details of the deal were not disclosed, though news outlets speculate the price was somewhere in the neighborhood of $300 million, according to those close to the company. Just 10 years ago, the sellers originally purchased The Weather Channel for $3.5 billion, and sold off the digital assets to IBM for more than $2 billion in 2015.
- Jasper, Ga.-based Royston LLC, a designer, manufacturer and installer of custom, high‐quality check out and merchandising fixtures and equipment, was acquired by private equity firm Industrial Opportunity Partners. Terms of the deal were not disclosed.
- Columbus, Ga.-based Togetherwork, a developer of group management software and payments solutions, was acquired by private equity firm GI Partners from Aquiline Capital Partners. Terms of the deal were not disclosed.
