Tyler Technologies Inc. announced that it has acquired Modria, a San Jose-based company that provides online dispute resolution solutions for government and commercial clients. The acquisition will expand Tyler's portfolio of courts and justice solutions, and provide its clients with efficient ways to handle large volumes of disputes in an automated fashion. Deal terms were not disclosed.
Orbis Technologies Inc. and RSI Content Solutions announced they have merged, forming a company that provides enterprise content and information management solutions to the U.S. military, Intelligence Community, federal agencies and publishers and media companies. Orbis also brings Big Data capabilities. The combined company will continue with the Orbis Technologies name going forward. Deal terms were not disclosed.
Warburg Pincus announced that it has made an investment in NEOGOV, a provider of SaaS talent management solutions to clients in the government, education, and public sector markets. NEOGOV's software is deployed in over 1,500 organizations including over 40 percent of the largest US cities and over 20 state customers. Deal terms were not disclosed.
Synopsys Inc. announced that it has acquired Simpleware Ltd., a provider of software products that convert 3D scan data into computer models for engineering design and simulation. Simpleware's products are used by clients in the life sciences, consumer products, aerospace, automotive, defense, oil and gas industries. Deal terms were not disclosed.
Upland Software Inc. announced that it has acquired Advanced Processing & Imaging Inc. (API), a provider of content management platform for government and schools across North America. API will be combined with Upland’s FileBound workflow automation solution. The deal is expected to be accretive on an adjusted EBITDA basis. Deal terms were not disclosed.
IBM announced that it has acquired UK-based Optevia, a SaaS systems integrator focused on Microsoft Dynamics CRM solutions for public sector clients including ministries, councils, regulators, licensing and grant management organizations, transport authorities and social housing organizations.
According to the press release, “The acquisition will allow IBM to scale Optevia’s solutions across other areas worldwide, where Optevia's software, assets and highly skilled, industry-focused workforce, coupled with their expertise will significantly increase IBM’s current capabilities.”
Deal terms were not disclosed.
Hexagon Safety & Infrastructure announced that it has acquired the Oversize/Overweight (OS/OW) vehicle permitting software from Cambridge Systematics Inc. Hexagon will combine the acquired permitting application with its own routing applications to provide departments of transportation with a single solution to ensure compliance for OS/OW vehicles. Both companies have worked together to serve the OS/OW market since 2009 and various states currently use their combined solution including South Carolina, Arkansas, Nevada, and Oklahoma. Deal terms were not disclosed.
Tyler Technologies announced that it has closed on its deal to acquire New World Systems Corporation, a provider of public safety and financial solutions for local governments. The purchase consideration was approimately $670M in cash and stock. The company is projected to contribute $134M in revenue, $49M in adjusted EBITDA, and non-GAAP EPS of $0.56 for the year ending December 31, 2016.
The company's products include Aegis, a comprehensive suite for dispatch centers, police officers, firefighters, and first responders, and Logos, a suite of public administration software for city and county governments.
Wells Fargo Securities, LLC advised Tyler Technologies for on the transaction.
Publicly-traded SolarWinds (NYSE: SWI) announced that it has entered into a definitive agreement to be acquired by private equity firms Silver Lake Partners and Thoma Bravo LLC for $60.10 per share or approximately $4.5 billion in cash. The purchase price represents a 43.5 percent premium to the closing price as of October 8, 2015 (when the company announced that it was exploring strategic alternatives) and translates to 9.5x trailing revenue.
SolarWinds provides hybrid IT infrastructure management software to various customers including Fortune 500 companies, small business, education institutions and government agencies. Government clients include: US Marines, US Army, US Navy, US Air Force, DISA, Department of Health and Human Services, and the State of Texas.
The transaction is expected to close in the first quarter of 2016. JP Mortan Securities LLC is acting as financial advisor, and DLA Piper LLP is serving as legal advisor to SolarWinds. Kirkland & Ellis LLP is serving as legal advisor to Thoma Bravo and Ropes & Gray LLP is serving as legal advisor to Silver Lake.
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