SEG’s Software M&A Brief

Notable Software M&A Deals: 6/12 – 6/19

This week’s notable software M&A deals included acquisitions by CBRE, Medidata Solutions, Tableau, Asure Software, and Microsoft.

We understand that as a software executive, you’re quite busy. That’s why we created SEG’s Software M&A Brief. Each week, we round up interesting deals we come across and provide a quick and insightful summary.

Here are this week’s highlights:

CBRE Group Acquired FacilitySource

As more non-software companies look to the software space to round out their offerings, CBRE follows suit with the acquisition of FacilitySource for $290M. FacilitySource is a provider of maintenance and management software to retailers and multi-site operators, and includes features for retail maintenance, transaction management, vendor management and research, analytics, reporting and invoice management. FacilitySource’s software will help CBRE build a tech-enabled supply chain capability, thus enhancing delivery of integrated solutions for occupiers. FacilitySource was previously owned by private equity firm, Warburg Pincus.

This is CBRE’s third software acquisition since January 2017 (following Floored and Mainstream). (Read Press Release)

Medidata Solutions Acquired SHYFT Analytics

Medidata, provider of clinical development and data management software to the pharmaceutical and life sciences industry, acquired SHYFT Analytics for $195M. SHYFT Analytics is a leading cloud data analytics platform for life sciences with solutions designed exclusively for the pharmaceutical and biotech industry. The acquisition will strengthen Medidata’s Intelligent Platform for Life Sciences, as the combined companies seek to lead the digital transformation of life sciences with AI and advanced analytics. (Read Press Release)

Tableau Software Acquired Empirical Systems

Tableau Software, provider of business intelligence analytics and data visualization software, acquired Empirical Systems, provider of an AI-assisted embedded analytics software. The Company’s automated statistical analysis technology guides users to relevant insights and trends without requiring data science expertise, thus enabling Tableau customers to easily gain insight into their data. (Read Press Release)

Asure Software Acquired HRnext (software IP assets)

Asure Software, provider of human capital management and workspace management software, acquired software IP assets of HRnext. HRnext is a provider of a human capital management system for mid-size organizations. Acquiring the company’s source code supports Asure’s mission of a single integrated platform. HRnext will continue to market the product under their name to new partners and customers. This acquisition represents Asure’s 8th transaction in 2018 (with deal spend for the year totaling over $48.1M), and 14th acquisition since the start of 2017. (Read Press Release)

Microsoft Acquired Flipgrid

Microsoft acquired Flipgrid, a provider of social education software for preschool to higher education students and teachers. The video-based learning software enables students to build social skills beyond traditional classroom education. Flipgrid will contribute to Microsoft’s EdTech portfolio, as they look to more closely compete with others in the space, including Google who has been dominating the space with its Google Classroom portfolio and Chromebook. (Read Press Release)

Interested in more M&A insights? Head over to SEG’s Research Page for sixty consecutive quarters of in-depth software industry reach covering over 20K M&A transactions and hundreds of publicly traded companies.