Big buys dominate

Paul Booth

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Silver Lake’s offer to buy Software AG (€2.2 billion) and Emerson Electric’s agreement to acquire National Instruments ($8.2 billion) dominated the global technology scene.

At home, the death of Hamilton Ratshefola, CEO of Gijima, shook the ICT industry.

• Bidvest acquired the Roan Systems Group of Companies, provider of inline matrix and thermal transfer printing, enterprise mobility, RFID, POS, mobile device management, IOT and print and apply solutions for a variety of customers’ needs across the supply chain.
• Capital Appreciation is buying Dariel Solutions, the holding company of Dariel Software, a South African IT software services provider that provides software, consulting, development, implementation and integration services, as well as maintenance and support, to enterprises in the healthcare, telecommunications, hospitality, mining and manufacturing sectors (R131 million).
• BSG has taken advantage of the large-scale job retrenchments announced by software giant Microsoft earlier this year to acquire its local digital advisory services team made up of 11 professionals.
• Melon Mobile, a new mobile virtual network operator, has been launched.
• Naspers-owned Prosus has continued its selloff of Tencent Holdings, bringing its stake in the Chinese internet giant to under 26%.
• +OneX, a systems integrator in JSE-listed Reunert Group, has concluded an agreement to acquire privately-owned cyber security and managed services company MMC.
• The appointments of new CEOs/MDs at Frogfoot Networks and Kyocera Document Solutions South Africa.
• The death of Hamilton Ratshefola, CEO of Gijima.

• The appointments of new CEOs/MDs at Cyber1Solutions, MTN Zambia, ServiceNow and Vertiv.

• Digital product innovation and software engineering company 10Pearls acquired Inspirant Group, a Chicago-based specialised healthcare transformation strategy consulting firm.
• Capillary Technologies bought Brierley, a provider of loyalty solutions for brands around the world.
• Constellation Software purchased Peakwork, a software company that develops distribution systems for travel companies.
• Cradlepoint, part of Ericsson, acquired Ericom Software and its advanced enterprise cloud security platform.

Six industry veterans have combined their expertise to launch Sprout Technology Group, a women-led MSP.

• DecisionPoint Systems bought Macro Integration Services, which provides premier retail and grocery chains with quality deployment, integration and maintenance services.
• Ethos Capital purchased Newforma, a project management software specialist.
• Fulcrum IT Partners acquired Viadex, an MSP.
• Globant bought ExperienceIT, a digital transformation consultancy with a diverse array of services and deep expertise in healthcare.
• InfoDesk purchased Wide Narrow, which brings together two SaaS platforms focused on business enterprise insights.
• Powerbridge Technologies bought a 90% stake in Ascendent Insights Education, an AI education service company.
• Raptor Technologies, school safety software provider, purchased SchoolPass, a rapidly-growing provider of cloud-based attendance automation, dismissal automation, visitor management and emergency management software.
• Digital media conglomerate Starboard acquired Parler, a social media app.
• Canada-based ScalePad bought Lifecycle Insights, a provider of a vCIO reporting tool, risk assessments and asset life cycle management offerings.
• SoFi Technologies purchased Wyndham Capital Mortgage, a leading fintech mortgage lender.
• The 20 MSP acquired UNI Computers, CyberSecure IT Solutions and The Computing Edge, all MSP peers.
• Trace3, an IT solution provider, bought Set Solutions, a pure-play cyber security solution provider.
• Toku, a Singapore-based cloud communications provider, purchased France-based Activeo, a customer experience consulting firm.
• Verisk acquired Krug Sachverständigen, a Germany-based motor claims solutions provider.
• Yandex bought Uber's stake in its joint taxi venture ($702.5 million).
• Accenture has agreed to acquire Einr, a Norwegian business consulting company specialised in high-volume logistics solutions using SAP technologies to optimise the flow of products from manufacturers to consumers. It has also invested in Virtonomy, a provider of data-driven simulations that use existing patient data and digital twin technology to bring life-saving medical devices to market more quickly.
• Accession Capital has acquired a 25% stake in Poland-based Exact Systems, a testing, inspection and certification company.
• Akamai Technologies has entered into a definitive agreement to acquire Neosec, an API detection and response platform based on data and behavioural analytics.
• BCM One, a provider of business telecoms services, plans to acquire UK-based voice specialist Pure IP.
• Germany's Bosch Group has agreed to buy key assets of TSI Semiconductors and invest $1.5 billion to expand US production of silicon carbide chips for electric vehicles.
• Boxed, the e-commerce grocery platform, has filed for Chapter 11 bankruptcy protection and is pursuing the sale of its software business.
• Cisco plans to buy Smartlook, a provider of qualitative analytics for websites and mobile apps.
• Clearlake Capital Group and Symphony Technology Group have agreed to sell Archer Technologies, a SaaS integrated risk management provider, to Cinven.
• Deutsche Telekom now holds a majority in T-Mobile US.
• Emerson Electric has agreed to acquire National Instruments, a measurement services maker ($8.2 billion).
• General Atlantic has agreed to buy a majority stake in Tripleseat, provider of a catering and events management web-based platform for restaurants, hotels and other venues.
• GlobalFoundries has filed a lawsuit accusing IBM of misappropriating its trade secrets.
• Great Hill Partners has bought Fusion Risk Management, a software provider, from Vista Equity Partners.
• IDEX has entered into a definitive agreement to acquire Iridian Spectral Technologies, a global leader in designing and manufacturing thin-film, multi-layer optical filters serving the laser communications, telecommunications and life sciences markets.
• Microsoft has signed a 10-year deal with Nware to bring Xbox and Activision Blizzard games to the Spanish cloud-gaming platform, days after Britain blocked its $69 billion buyout of the Call of Duty maker.
• Netlist has been awarded more than $303 million for Samsung Electronics' infringement of several patents related to improvements in data processing.
• Oakley Capital and Bain Capital Credit are investing an undisclosed amount into vLex, a combined company from the merger of Fastcase and vLex, in a deal the legal research companies said will speed up the creation of AI tools for lawyers.
• Rogers Communications has entered into an agreement to purchase BAI Communications' Canadian operations.
• Japan's Sega Sammy Holdings plans to acquire Finland's Rovio Entertainment Oyj ($776 million).
• Savvy Games Group has agreed to acquire Scopely, a maker of mobile games ($4.9 billion).
• Silver Lake has offered to buy Software AG in a deal that values the German business software developer at €2.2 billion. Software AG Foundation, an independent charitable foundation that is also the principal shareholder in Software AG, will sell a 25.1% stake in the company to Silver Lake.
• Six industry veterans have combined their expertise to launch Sprout Technology Group, a women-led MSP with a mission to move the needle forward to further encourage women leaders in the IT channel. The company also aims to bring together a collective of strategic advisers to offer unique technology solutions and services to customers around the globe.
• Tessco Technologies has entered into a definitive merger agreement with entities affiliated with Lee Equity Partners and Twin Point Capital, which also own Alliance Corporation, a value-added distributor of equipment for the wireless industry; and GetWireless, a value-added distributor of cellular solutions that connect the internet of things.
• Twitter has ceased to be an independent company after merging with a newly-formed shell firm called X Corp.
• BC Partners-backed United Group, a telecommunications company, has agreed to sell TowerCo, its mobile tower infrastructure division in Bulgaria, Croatia and Slovenia, to Tawal for €1.22 billion.
• Virgin Orbit Holdings has begun a voluntary proceeding under Chapter 11 to sell the business.
• ZeroFox has unveiled a deal to acquire LookingGlass Cyber Solutions.
• Alteryx has invested in Fiddler, a pioneer in model performance management.
• The $500 million investment by Apollo Global Management in Cengage Group, an edtech company.
• Bain Capital Tech Opportunities invested in iManage, the enterprise software firm.
• Blackstone and Juxtapose invested $200 million in Kite, a digital first commerce platform.
• Bridgepoint invested in DataExpert, a cyber security company.
• Perwyn invested in UK-based Datatonic, a data and AI consultancy.
• Several investors made a $75 million investment in EdgeQ, a 5G chip start-up.
• Several investors, including Original Capital, SoftBank and Northzone, invested $90 million in UK-based Infogrid.
• Vista Equity Partners invested in Benchmark Gensuite, a software platform assisting companies in transforming the EHS (environment, health and safety), sustainability and ESG reporting programmes.
• The $75 million investment co-led by Radical Ventures and Index Ventures in Covariant, an AI robotics start-up.
• The investments led by Andreessen Horowitz in internet satellite start-up Astranis ($200 million) and in Pinecone, a database start-up providing long-term memory for AI ($100 million).
• The $75 million investment by several investors, including Energy Impact Partners, in Coro, which offers a cyber security platform.
• The $129 million investment led by GIC in Quantexa, a London-based company that develops data analysis software.
• The $100 million investment led by CapitalG in AlphaSense, a market intelligence and search platform.
• The $340 million investment led by several investors in China-based SJ Semiconductor.
• The $112 million investment led by Insight Partners and Adams Street Partners in Altruist, an investment advice software company.
• The $92 million investment led by IA Ventures in Kepler Communications, a Canada-based satellite telecommunications provider.
• The $221 million investment led by Magnetar Capital in CoreWeave, a cloud data provider.
• The appointments of new CEOs at Advantix, Cellnex, Liongard, PDD Holdings, Prodapt, TransAct Technologies (interim), Vodafone, Virtual Technologies Group and Zadara.
• The death of Cash App co-founder Bob Lee.
• IPO filings from SeatGeek, a ticket and events platform (USA), and Lottomatica (Milan).
• IPOs/listings from Lufax Holding (Hong Kong).

• According to Gartner, worldwide IT spending is expected to total $4.6 trillion in 2023, an increase of 5.5% from 2022, despite continued global economic turbulence. All regions worldwide are projected to have positive IT spending growth in 2023.
• According to Gartner, global semiconductor revenue is projected to decline 11.2% in 2023. In 2022, the market totalled $599.6 billion, which was marginal growth of 0.2% from 2021. Global semiconductor revenue is forecast to total $532 billion in 2023.
• According to IDC, worldwide IT spending growth this year is projected to be 4.4% to $3.25 trillion.
• According to IDC, global shipments of personal computers fell by 29% in Q123 due to weak demand, excess inventory and a deteriorating macroeconomic climate, with Apple taking the largest hit. Global shipments numbered 56.9 million, down from 80.2 million in Q122.
• According to IDC, spending on security solutions and services in the Middle East and Africa (including Israel) will increase 7.9% year-on-year in 2023 to reach $6.2 billion. This forecast indicates this figure will reach $7.7 billion in 2026, representing a CAGR of 7.8% over the 2022-2026 period.
• According to IDC, spending on artificial intelligence in the Middle East and Africa (including Israel) will reach $3 billion in 2023. While this will account for just 2% of the global total for 2023 ($151.4 billion), the region will see the fastest growth rate worldwide over the coming years, forecasting that AI spending in MEA will increase at a CAGR of 29.7% over the 2022-2026 period, reaching $6.4 billion in 2026.
• According to IDC, spending on IT and business services in the Middle East and Africa, including Israel, will reach $30.3 billion in 2023. This represents a 5% increase on the $28.9 billion in 2022. It forecasts that the market will grow at a CAGR of 5.9% over the 2023-2027 period, reaching $38.1 billion in 2027.
• According to IDC, worldwide smartphone shipments declined 14.6% year-over-year to 268.6 million units in 1Q23.

• JSE All share index: Up 2.8%
• FTSE100: Up 3.1%
• DAX: Up 1.9%
• NYSE (Dow): Up 2.5%
• S&P 500: Up 1.7%
• Nasdaq: Up 0.4%
• Nikkei225: Up 2.9%
• Hang Seng: Up 2.5%
• Shanghai: Up 1.3%

Fortune magazine recently published its 2023 list of America’s most innovative companies. Included in the top 10 are:

• 1: Alphabet
• 2: Salesforce
• 3: Microsoft
• 4: Oracle
• 5: IBM
• 6: Apple
• 7: Dell Technologies
• 9: Verizon Communications

In addition, Fortune magazine also recently published its 2023 ‘Best companies to work for’ listing. Included in the top 25, from a technology perspective, are:

• 1: Cisco
• 5: Accenture
• 6: Nvidia
• 7: Atlassian
• 8: Salesforce
• 9: Comcast NBCUniversal
• 14: Intuit
• 19: World Wide Technology (a private company)