Manuel "Manny" Medina, founder of Cyxtera Technologies, a Miami company that went public via a SPAC merger.
Jock Fistick / South Florida Business Journal
2021 was a whirlwind year for South Florida's technology sector as out-of-state businesses migrated to the area and local companies attracted more funding than ever.
It was also a big year for mergers and acquisitions. Some startups were purchased outright, while other large technology companies decided to become publicly traded entities by entering deals with special purpose acquisition companies (SPACs), which are formed to merge or acquire private businesses.
Here's a look at 19 tri-county firms that entered mergers or acquisitions in 2021.
January
- OrthoSensor, a Dania Beach medical device firm, was acquired by Fortune 500 company Stryker Co. for an undisclosed amount. OrthoSensor uses sensor-assisted technology to aid total joint replacement surgeries.
- Wyncode Academy, a coding bootcamp founded in Miami, was acquired by digital skills training company BrainStation for an undisclosed sum. BrainStation, headquartered in New York, offers corporate training, certificate courses and coding bootcamps both online and in-person at its campuses in New York, London, Toronto and Vancouver.
February
- MDLive, a Miramar-based telehealth company, announced it would be acquired by health insurance giant Cigna (NYSE: CI). The financial terms of the transaction were not disclosed.
- Appgate entered into an agreement to merge with Newtown Lane Marketing in a deal that valued the Miami cybersecurity firm at $1 billion. Appgate (OTC: APGT) was spun out of Cyxtera Technologies as a standalone company in 2020.
- Cyxtera Technologies (Nasdaq: CYXT) announced it planned to become a publicly traded company through a $3.4 billion merger with Starboard Value, a SPAC. The Miami company is a data center provider with 61 data centers in 29 markets around the world.
March
- AirSpan Networks, a Boca Raton software and hardware company for 5G wireless network technology solutions, announced it would go public via a merger with blank check company New Beginnings Acquisition Corp. AirSpan trades on the New York Stock Exchange under the ticker symbol "MIMO."
- Nearpod, a Dania Beach-based edtech, was acquired by Renaissance Learning for $650 million. Founded in 2012, Nearpod's platform helps K-12 teachers create interactive classroom and virtual lessons that incorporate videos, polls, quizzes and more.
- SpeedETab, a Miami ordering payment technology provider for the restaurant industry, was acquired by Israeli website builder Wix.com (Nasdaq: WIX). The financial terms of the deal was not disclosed.
April
- Kara Technology, a marketing automation software startup headquartered in Miami, was acquired by VisuWall, a New York company that matches brands and advertisers with empty urban storefronts.
August
- Memic Innovative Surgery entered into an agreement to merge with blank check company MedTech Acquisition Corp. (Nasdaq: MTAC) in a deal that valued the firm at about $1 billion. The company, headquartered in Israel and Fort Lauderdale, is the maker of the first U.S. Food and Drug Administration-approved surgical robot authorized to perform transvaginal gynecological procedures.
- Neptune Financial, a fintech that makes loans to small- and medium-sized businesses, was acquired by London-based Zilch for an undisclosed amount.
September
- Anthology, a cloud technology company for higher education based in Boca Raton, was acquired by Blackboard Inc., a leading education technology software and solutions firm for higher education, business, K-12 and government. Anthology was formed in 2020 after New York-based Veritas Equity and Leeds Equity Partners consolidated multiple education technology firms to form one firm.
- Paymentez, a Miami-based fintech, was acquired by Nuvei, a payment technology firm headquartered in Canada.
October
- Satellite manufacturer Terran Orbital announced a plan to go public in a merger that values the company at $1.6 billion. The Boca Raton company entered into an agreement to combine with Tailwind Two Acquisition Corp. (NYSE: TWNT), a SPAC. The deal occurred a month after Terran Orbital unveiled plans to build a $300 million facility that it claims will be one of the largest satellite manufacturing centers in the world.
November
- The Arora Project, an equity crowdfunding media agency based in Miami, was acquired by investment platform Republic in a move to disrupt early-stage startup fundraising in South Florida and beyond. The financial terms of the deal were not disclosed.
- EveryMundo, a Miami company that develops marketing software for airlines, was acquired by Houston-based Pros Holdings in a deal valued at $90 million. EveryMundo provides "fare marketing" technology to airlines – including American Airlines and Japan Airlines Vacations – designed to increase customer engagement and long-term brand loyalty.
- SpringBig, a SaaS marketing firm for the cannabis industry, announced it would public through a merger with Tuatara Capital Acquisition, a SPAC. The deal values Boca Raton-based SpringBig at $500 million.
December
- TradeStation Group, a financial technology company headquartered in Plantation, entered into an agreement to merge with blank check firm Quantum FinTech. The transaction, expected to close in the first half of 2022, values the combined businesses at $1.4 billion. When the deal closes, the company will trade on the New York Stock Exchange under the ticker symbol "TRDE."
- Fish Rules, a Jupiter startup that helps people stay on top of fishing regulations in their area, was acquired by Swedish fishing app developer Fishbrain, Refresh Miami reported.
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