Mar
07
2018
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S&P Global snares Kensho for $550 million

S&P Global announced today that it will acquire Kensho, a Cambridge, Massachusetts startup that has concentrated on artificial intelligence and analytics for big financial institutions. The total value of the deal is $550 million in a mix of cash and stock.

Kensho, which counted S&P Global as a client/partner and an investor, launched in 2013 and has raised $67.5 million, according to Crunchbase. The most recent funding round was in fact led by S&P Global for $50 million in February 2017. They apparently liked Kensho so much, they bought the company.

“In just a short amount of time, Kensho’s intuitive platforms, sophisticated algorithms and machine learning capabilities have established a wide following throughout Wall Street and the technology world,” S&P global president and CEO Douglas Peterson said in a statement announcing the deal.

The company doesn’t have small goals. Its stated mission involves solving some of the biggest analytical problems of our time — no pressure or anything. In additional to financial services, the company also has a division called Koto, which concentrates on national security.

As you would expect in a deal like this, Kensho sees S&P Global providing it with financial resources it couldn’t provide alone through conventional funding channels. To solve those big artificial intelligence problems requires world-class engineers, and that requires an owner or investor with deep pockets. They got that with today’s announcement.

The good news for Kensho and its customers is that S&P Global intends to mostly leave it alone and let it do what it’s been doing. It will continue to operate as an independent brand out of its Cambridge offices.

Per usual, the deal is going to be subject to regulatory approval before it closes, but it’s not every day you have a company be your client, your investor and your owner, but that’s what happened to Kensho today as it scored the investment hat trick.

Feb
16
2018
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Oracle grabs Zenedge as it continues to beef up its cloud security play

 Oracle announced yesterday that it intends to acquire Zenedge, a 4-year old hybrid security startup. They didn’t reveal a purchase price. With Zenedge, Oracle gets a security service to add it to its growing cloud play. In this case, the company has products to protect customers whether in the cloud, on-prem or across hybrid environments. The company offers a range of services from… Read More

Feb
12
2018
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Billionaire investors Icahn and Deason write blog post slamming Xerox-Fuji deal

 Carl Icahn and Darwin Deason are a couple of seasoned billionaire investors, who know a bad deal when they see it, and they definitely don’t like the $6.1 billion deal announced last month to combine Fuji with Xerox. In a blog post published today, they are urging fellow shareholders to reject the offer. You may recall that it was Icahn and Deason, who together own a 15 percent stake in… Read More

Nov
15
2017
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Two compliance companies merge to build a $100M firm

 Once upon a time there were two compliance companies. Smarsh was owned by Los Angeles-based private equity firm, K1 Investment Management. It worked with mostly SMBs. Another called Actiance worked with larger companies like the world’s biggest banks. This is the story of how K1 is bringing these two companies together.
Both companies are focused on archiving and compliance around… Read More

Nov
02
2017
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VMware acquires VeloCloud as it moves deeper into networking

 VMware announced today that it was acquiring VeloCloud, a startup that focuses on cloud-based wide area networks (WAN), those networks that span a broad area across data centers or regions. The companies did not reveal the purchase price.
The news confirms a report that The Information first reported  yesterday.
The company appears to be an excellent fit as one of the primary use cases is… Read More

Oct
19
2017
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Cisco to buy Perspica and fold engineering team into AppDynamics

 Cisco announced today that it intends to acquire Perspica, a machine learning-driven operations analytics firm that has raised $8.5 million. Cisco intends to fold Perspica’s team into AppDynamics, the company it purchased earlier this year for $3.7 billion. Cisco did not share the Perspica purchase price. All of these machinations have a purpose. Cisco is of course at its heart a… Read More

Oct
02
2017
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ServiceNow just bought a design firm because even enterprise apps have to look pretty

 ServiceNow is best known for helping large organizations organize field service and help desk activity. Today it bought design firm Telepathy because it knows that offering enterprise-class functionality isn’t enough anymore. Your applications have to look good too.
The company did not reveal the acquisition price
Telepathy is a design firm that was founded in 2001 in San Diego and… Read More

Jul
27
2017
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Mitel to buy ShoreTel for $430 million to create unified communications powerhouse

Streaks of colored lights race beneath the clouds and over an urban scene in a metaphor for cloud computing and communications technology. Sometimes combining two companies that compete in the same market provides a quick way to leapfrog your market share. That was likely the thinking behind Mitel’s decision to buy ShoreTel this morning for $430 million. Combining the two companies catapults Mitel to number two in the Unified Communications as a Service (UCaaS) market, according to the company. As for ShoreTel, while it… Read More

Jul
26
2017
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OpenText acquires forensic security vendor Guidance Software for $240 million

 OpenText, the content management company based in Waterloo, Ontario announced today that it was buying Guidance Software, a forensic security and eDiscovery vendor for $240 million.
OpenText agreed to pay Guidance shareholders $7.10 a share. The price will be less Guidance’s cash on hand of approximately $18 million, making the final price just around $222 million, according to OpenText. Read More

May
10
2017
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Zuora to acquire Leeyo to help customers cope with upcoming accounting rules changes

Subscription on smartphone Zuora, the company that helps customers deal with subscription billing, and counts cloud companies like Box, Okta and DocuSign as customers, announced its intent to acquire Leeyo Software, Inc., a privately funded, boot-strapped startup that helps automate revenue recognition. The company did not reveal a purchase price. Leeyo is not just any revenue recognition company, though, because it… Read More

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