SaaS Deal Recap
highlighting the hottest M&A transactions
Happy Friday Founders and Friends!
We wanted to switch things up this week!
To help our readers stay on top of the latest software trends- highlighted below are some of the top M&A transactions that occurred over the past few months.
October
Vista Equity Partners to acquire Blue Prism
On Tuesday it was announced that Private equity firm Vista Equity Partners is to acquire automation software developer Blue Prism Group Plc for about $1.5 billion USD.
Vista is set pay each shareholder £11.25 per share, a 35% premium to the company’s last closing price of £8.32.
Following completion of the acquisition, Vista said it intends to indirectly transfer Blue Prism to portfolio company TIBCO, an enterprise data firm.
September
Intuit in the process to acquire Mailchimp
Late September financial software provider Intuit Inc. confirmed rumours that it was in the process of buying Mailchimp, an email marketing provider.
The planned acquisition is approximately valued at $12 billion and comes only nine months after the company closed an $8.1 billion acquisition of Credit Karma.
This acquisition has made news headlines across the globe given the lack of equity given to employees and company insiders.
August
NortonLifeLock acquired Avast Software
U.S. cybersecurity firm NortonLifeLock confirmed the acquisition of British rival Avast. Avast, founded in 1988, focuses on cybersecurity software for consumers and small and medium-sized businesses.
The deal is to be valued between $8.1 - $8.6 billion making it the third-largest cybersecurity deal of all time.
PE activity has been hot in the cybersecurity space with Thoma Bravo’s $12.3 billion acquisition of Proofpoint earlier in 2021.
Clearlake Capital Group acquired Cornerstone OnDemand
Cornerstone OnDemand Inc, entered into an agreement to be acquired by Clearlake Capital in a transaction worth $5.2 billion.
Cornerstone, a human resources management software company, helps companies to recruit, train, and manage their employees.
Clearlake, a software investment firm, currently has approximately $43 billion of assets under management and has led/ co-led over 300 investments.
TLDR; Software M&A activity has been hot recently!
What We’re Reading and Listening To…
📚 How Private Equity BD May Change Forever
📚 Understanding SaaS Quick Ratio
News from the Industry: deals, deals, and more deals 💰
UK software company Blue Prism agrees $1.5 billion sale to private equity firm Vista
Orlando Bravo Says Private-Equity Firm Will Invest in Blockchain
Raptor Technologies Acquires CPOMS, Backed by Strategic Investments from Thoma Bravo and JMI Equity
Favorites from the Ecosystem
Investors👇…..
Founders👇…..
Operators👇….
Good Laugh👇….
About Bloom Venture Partners
Bloom Venture Partners is a lower mid-market software-focused private equity firm, leveraging deep operational and commercial experience to create enduring market value for the benefit of our investors, founders, and their companies.
End Note
Thanks for joining us for another edition of the weekly bloom. At Bloom Venture Partners we buy, build + invest in SaaS.
We’re excited to continue backing remarkable teams on their quest of changing the way we work, live + create.
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