Global SaaS M&A Weekly Brief (7 Sept 2022 – 13 Sept 2022)
Sam Lee Chengyi
Fractional CFO who specializes in SME M&A and Series A Fundraising | M&A Advisory | Seed and Series A Fundraising | Exit Planning | Growth Strategy | Performance Dashboarding
Extreme Reach acquired by Gamut Capital
Gamut Capital Management is a leading New York-based middle market private equity firm. It has announced on September 7, 2022 that it has reached agreement to acquire Extreme Reach, Inc., specializing in the activation of omnichannel marketing campaigns and production payroll and accounting solutions for brands, agencies and content producers. The transaction is expected to close in Q4 2022. Extreme Reach is a tech platform for video ad campaign workflow, with strong client base including 93 of top 100 global advertisers. It operates in 140 countries and 45 languages, enabling $150 billion in TV and video ad spend globally.
Emmersion acquired by IXL Learning
IXL Learning, developer of personalized learning products, announced that it has acquired Emmersion on September 7, 2022. Emmersion’s platform has conducted millions of automated assessments for corporate and educational institutions, including The World Bank, Randstad,?Columbia University,?Brown University?and the?University of Pennsylvania, providing valuable data insights into language proficiency scores. The acquisition is expected to provide strategic guidance for Emmersion's vision as both companies share the same vision to help people improve their language skills. Emmersion is a rapidly growing Utah-based SaaS company that specializes in AI-powered language assessments technology. The transaction value is undisclosed.
Briq to acquire Swipez
Briq, the financial automation platform that enables construction companies to grow their business, announced on September 8, 2022 about the acquisition of Swipez, an India-based fintech company that automates the billing and revenue collection processes for businesses. With the acquisition of Swipez, Briq will further its ability to fully automate all the major financial workflows in construction – from planning to payment, and now to being paid. Briq’s mission is to help construction companies grow their business, and the company is working towards that by advancing the use of fintech in construction.The information about the deal is not disclosed.
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Source: https://www.businesswire.com/news/home/20220908005163/en/Briq-Announces-Acquisition-of-Swipez
Phly acquired by dropp group for $25 million
dropp group, a leading Web3 company,?announced its strategic acquisition of Phly, Inc., a leading social metaverse platform, to develop the world’s first physical digital twin to bridge digital and real-world locations for consumers, communities and brands who aspire to seamlessly onramp into Web3. Phly is the creator of Flyy app: the Real-World Social Metaverse. The $25 million acquisition will allow droppLabs, the innovation arm of dropp group, to deploy Flyy technology to create MetaReality?- the commercial and multisensory evolution of the metaverse.?Flyy’s Founder & CEO, Adel Al Massarani, has joined dropp as Chief Metaverse Officer and will head up dropp’s new MetaReality division.
Skillate acquired by Sense
Skillate optimises the recruitment cycle of enterprises using Artificial Intelligence. Softbank-backed HR platform, Sense has acquired Skillate for an undisclosed amount on September 8, 2022. ?Post-acquisition, the three founders of Skillate – Bipul Vaibhav, Anand Kumar and Kumar Sambhav – will join Sense.?Founded in 2016, Skillate offers a business-to-business (B2B) application that aids companies to optimise the hiring process. The company was incubated within SAP Startup Studio. Skillate had last raised $1 million in its pre-series A funding from angel investors in 2019. The startup also raised undisclosed seed funding from Incubate India Fund in 2017.