Cherry Tree & Associates | July 2024 | |
Cherry Tree has been tracking trends and activity in the Technology Enabled Business Services (TEBS) space for nearly 20 years, including the TEBS 100, which is a broad index of 100 publicly-traded TEBS companies. | |
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The four segments of the TEBS 100 are:
- SaaS/Software
- Business Process Services
- Information/Data
- Infrastructure Services
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Each issue of this newsletter highlights transactions involving TEBS companies, as well as performance metrics for the TEBS 100. Cherry Tree also produces quarterly TEBS updates and a research report which are available for download: | |
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Cherry Tree has nearly 20 years of experience working with businesses in the TEBS space. Our clients include companies seeking to sell their businesses or divest non-core assets, as well as strategic and financial buyers looking to make acquisitions.
Contact Mik Gusenius at mgusenius@cherrytree.com or Scott Brown at sbrown@cherrytree.com with any questions.
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NOTABLE TRANSACTIONS – JULY 2024 | |
Impel, an AI-driven customer lifecycle management provider for the automotive sector, has acquired SaaS provider Outsell in a deal exceeding $100 million. | | |
Robinhood Acquires Pluto Capital | Robinhood has acquired investment research platform Pluto Capital for an undisclosed sum, bringing new AI capabilities to its trading platform. | | |
KnowBe4 To Acquire Egress | KnowBe4 will acquire Egress, a 17-year-old company focused on providing AI-powered email security. The planned acquisition of Egress will bring together the vendor’s email security technologies, such as anti-phishing capabilities, with KnowBe4’s widely used security training platform. | | |
UpSwell Acquires Dental Marketing | UpSwell, a provider of data-driven direct response marketing solutions for small and medium-sized businesses, has acquired Dental Marketing, a provider of marketing solutions in the dental sector. | | | |
Bain to Take Envestnet Private | Envestnet, Inc., a provider of integrated technology, intelligent data and wealth solutions, will be acquired by Bain Capital in a transaction valuing the Company at $4.5 billion. | | |
Randstad's Job Board Business, Monster, to Acquire CareerBuilder | Randstad, a talent company, has reached an agreement to form a joint venture combining its job board business, Monster, with CareerBuilder, a global talent marketplace. | | |
Vista Equity Invests in Nasuni | Enterprise data platform provider Nasuni has received a majority investment led by Vista Equity that values the company at $1.2 billion. | | |
Broadridge to Acquire CompSci | CompSci Resources, a maker of a Web-based, collaborative platform for SEC disclosure preparation, will be acquired by Broadridge Financial Solutions. | | | |
TEBS 100 INDEX PERFORMANCE AND METRICS | |
For a confidential conversation about your company's strategic alternatives for exiting, merging, acquiring, or obtaining financing, please contact Mik Gusenius or Scott Brown. | |
Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis. Our firm specializes in serving middle market companies and their owners, whether private, public, or divisions of larger corporations. | |
Important Disclosures
The information included in this publication has been obtained from public sources and is not based upon private or confidential Cherry Tree information. Cherry Tree gathers its data from sources it considers reliable. However, it does not guarantee the accuracy or completeness of the information provided within this publication. Any opinions presented reflect the current judgment of the authors and are subject to change. Cherry Tree makes no warranties, expressed or implied, regarding the accuracy of this information or any opinions expressed by the authors. Officers, directors, partners of Cherry Tree and Cherry Tree proprietary investment funds may have positions in the securities of the companies discussed, and certain affiliates of Cherry Tree may recommend to specific clients the purchase and sale of securities discussed in the publication. This publication does not constitute a recommendation with respect to the securities of any company discussed herein, and it should not be construed as such. Cherry Tree or its affiliates may from time to time provide investment banking or related services to these companies. Like all Cherry Tree employees, the authors of this publication receive compensation that is affected by overall firm profitability. We undertake no obligation to update any information in this publication.
The TEBS Performance Index is a hypothetical index, and does not reflect an actual investment portfolio. Comparisons between the TEBS Index and other indices are for illustrative purposes only. Correlations in performance information for the TEBS Performance Index and other indices should not be relied upon as indicative of risks involved in owning or holding a portfolio of securities similar to the TEBS Performance Services Index. Past performance should not be relied upon as indicative of future performance.
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