June kept the ball rolling with a huge flow of acquisitions making their mark on the D.C. tech ecosystem.
Plenty of term sheets were signed last month – with a whopping $140 million in local startup funding – but on the exit side of investments, a wave of mergers generated inside and outside of Greater Washington expanded the reach of local companies and filled backers' pockets.
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Here are some of the biggest D.C.-area acquisition deals from June:
Security software firm Imperva is acquiring Arlington-based Distil Networks, an 8-year-old cybersecurity startup that made its name as a pioneer of defending bot attacks. Founded in 2011, Distil Networks' software is used to identify whether web traffic comes from humans or machines. It has raised about $60 million since inception, from high-profile backers including Techstars, Foundry Group, Bessemer Venture Partners and Silicon Valley Bank.
Arlington's Endgame is being gobbled up by Netherlands-based search and data management firm Elastic N.V. for $234 million. The deal, expected to close near the end of 2019, seems to be a substantial discount relative to its last reported Pitchbook valuation of $465 million in 2016. Endgame had raised about $92 million of funding since launching in 2008, and it reported $21.8 million in 2018 revenue, up from just $3.6 million in 2016.
Mclean's Logi Analytics announced the acquisition of Reston-based Zoomdata, an analytics platform for big data and live-streaming data that launched in 2014. The deal adds Zoomdata's technology for big data and streaming data to Logi's embedded analytics platform, according to the companies. The acquisition comes three months after Logi acquired Jinfonet, a document-focused analytics platform, which brought the combined company to about 250 employees.
Tysons-based Cvent, one of the country's major hospitality tech players, acquired DoubleDutch, a San Francisco-based leader in the mobile event app industry. It highlights the local company's recent investments in the mobile technology space, and complements its own app and onsite services.
Fast-casual salad chain Sweetgreen acquired the D.C.-based food delivery startup Galley Foods in its first acquisition, as it looks to bolster its delivery and logistics game. Los Angeles-based Sweetgreen, which was born in D.C. and now has 93 locations, said the acquisition gives it access to Galley’s logistics technology, delivery operations and production knowledge. Galley will continue to operate in D.C. while its founder and CEO Alan Clifford becomes Sweetgreen’s vice president of logistics.
New York's GCOM Software swooped in to acquire Columbia, Md.-based Gantech, a provider of consulting and technical services to four major agencies of the State of Maryland. GCOM, which modernizes legacy government IT systems, made the move to add more software capabilities and expand its footprint in the Mid-Atlantic. Terms of the deal were not disclosed.
Herndon-based government technology contractor Peraton Corp. is acquiring local IT solutions firm Solers Inc. for undisclosed terms. The acquisition is Peraton's second since spinning off from Harris Corp. in 2017, following its buy of Reston communications company Strategic Resources International. The Solers buy provides Peraton with new capabilities including satellite ground systems, space infrastructure, data, cybersecurity and cloud solutions.
D.C.-based commercial real estate data provider CoStar acquired Off Campus Partners, a student housing listing service, for undisclosed terms. Founded in 2000 in Charlottesville, Off Campus Partners provides off-campus listing services for students, parents and faculty at 132 universities. A large part of CoStar’s recent growth has come through such acquisitions, which have included Apartments.com, Dominion Enterprises’ ForRent network, LoopNet and LandWatch.com, and cost at least $2 billion combined.
EveryAction, a software maker for nonprofits that's backed by Insight Partners, swooped into town to acquire DonorTrends, a Springfield, Va.-based fundraising analysis firm. Financial terms weren't disclosed. The deal adds DonorTends' software to EveryAction's more broad suite of platforms that are used by dozens of large nonprofits and NGOs.
Arlington-based defense services provider Metis Solutions acquired Alexandria intelligence contractor Pluribus International. Financial terms weren’t disclosed, but the deal provides Metis — which offers defense, policy and business consulting — with intelligence, cybersecurity and other capabilities. Metis, partially funded by McLean venture capital firm Blue Delta Capital Partners, has 400 employees in four locations. Pluribus has close to 100 employees in 20 locations.
Apexconnect, an Arlington-based payment automation platform, has been acquired by Indiana's Cornerstone Information Systems. The deal integrates Apexconnect's fintech-focused software into Cornerstone's largely travel-focused technology, providing a broader set of information services to customers. Apexconnect will continue to run as an independent business from its new offices in Arlington, now with the funding and support of Cornerstone’s business.
