SEG’s Software M&A Brief

Notable Software M&A Deals: 7/3 – 7/10

The first week after the close of Q2 included a plethora of interesting software M&A transactions.

This week, we chose to focus on acquisitions by Autodesk, MRI Software, Illuminate Education, and EQT.

If you are unfamiliar, the purpose of SEG’s Software M&A Brief is to provide a quick snapshot of the week’s notable software deals.

Here are the week’s highlights:

Autodesk Acquired Assemble Systems

Assemble Systems provides a SaaS solution that enables construction professionals to condition, query and connect BIM data to key workflows across bid management, estimating, scheduling, site management and finance. The solution will be integrated with Autodesk’s new BIM 360 project management platform, an open platform that enables project teams to collaborate on coordinated, shared designs from design through construction. The transaction represents Autodesk’s first acquisition in three years. (Read Press Release)

MRI Software Acquired PropSys

MRI Software, a leader in real estate software solutions, acquired PropSys, a provider of property management software in South Africa. The acquisition represents MRI’s expanding international presence and reaffirms their leadership in commercial real estate in South Africa, especially given their recent purchase of Cape-Town based MDA Property Systems. Furthermore, the acquisition represents MRI’s eighth transaction since its backing by TA Associates in May 2017 (including MDA Property Systems, eCondoSystems, HAB, Qube Global, Real Asset Management, and SEG clients HAPPY Software & Tenmast Software). (Read Press Release)

Illuminate Education Acquired Key Data Systems, Alpine Achievement Systems, IO Education LLC & SchoolCity

Backed by Insight Venture Partners, Illuminate Education merged with four companies, including formative assessment and data platforms (IO Education, SchoolCity, and Alpine Achievement) and a leading formative item bank provider (Key Data Systems). The new merger will provide educators with adaptive assessments, data and analytics that inform instruction, linkages to curriculum and third-party resources in a single environment, saving teachers time and enabling them to serve to each student’s unique needs. (Read Press Release)

  • Key Data Systems provides an educational research and content company serving K-12 educators by providing highly curated industry-leading item banks and a suite of over 500 pre-built formative assessments and solutions.
  • Alpine Achievement Systems provides student data analysis and reporting SaaS for school and district administrators and teachers, and includes features for goal setting, progress monitoring and intervention tracking.
  • IO Education LLC provides analytics, reporting and classroom instruction management software and SaaS.
  • SchoolCity provides personalized education assessment SaaS for K-12 schools. Software provides features for student achievement analytics and assessments, performance data reporting and State Accountability planning and implementation.

EQT Acquired Saxo Payments Banking Circle

Private equity firm, EQT, acquired Saxo Payments Banking Circle, a provider of mission-critical infrastructure for cross-boarder payments. Banking Circle is able to leverage EQT’s platform, deep TMT experience, and its global industrial network to facilitate continued growth. (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.

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