Cherry Tree & Associates | January 2018
Cherry Tree has been tracking trends and activity in the Technology Enabled Business Services (TEBS) space for more than 15 years, including the TEBS 100, which is a broad index of 100 publicly-traded TEBS companies.
The four segments of the TEBS 100 are:

  • Software
  • Business Process Services
  • Information Services
  • Infrastructure Services
Each issue of this newsletter highlights transactions involving TEBS companies, as well as performance metrics for the TEBS 100. Cherry Tree also produces a quarterly TEBS report which is available for download:
Cherry Tree has more than 30 years of experience working with businesses in the TEBS space, originally as an investor and now as a provider of investment banking services. Our clients include companies seeking to sell their businesses or divest non-core assets, as well as strategic and financial buyers looking to make acquisitions. 

Contact Mik Gusenius at  mgusenius@cherrytree.com with any questions.
NOTABLE TRANSACTIONS – JANUARY 2018
Blackhawk Network Acquired by Silver Lake, P2 Capital...

Blackhawk Network has agreed to be acquired by Silver Lake and P2 Capital Partners in a deal worth $3.5 billion. The news comes just one day after the company announced a partnership with China-based digital payment platform Alipay that will...

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finovate.com
SAP to acquire CallidusCloud, beefs out CX and LMS offerings

In a move that caught this commenter by surprise but which certainly blew the early morning cobwebs out of the eyes, SAP has acquired CallidusCloud, known for its sales front office 'lead to cash' and learning solutions.

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diginomica.com
Internap to acquire IaaS company SingleHop for $132m

American cloud and colocation provider Internap (INAP) plans to acquire managed hosting and infrastructure-as-a-service (IaaS) specialist SingleHop for $132 million in cash. INAP operates 51 data centers across 21 metropolitan markets and...

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www.datacenterdynamics.com
Blackstone to buy Thomson Reuters unit in $20 billion deal

A group led by Blackstone Group agreed to buy a majority stake in Thomson Reuters Corp.'s financial and risk unit in a deal that values the business at $20 billion, sealing plans for the firm's biggest buyout in a decade.

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www.chicagotribune.com
SS&C acquires DST Systems in $5.4 billion deal | ZDNet

SS&C has announced the acquisition of DST Systems in a deal worth $5.4 billion. On Thursday, investment management software provider SS&C revealed the buyout following the temporary suspension of Kansas City-based DST Systems trading on Wednesday.

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www.zdnet.com
Datawatch acquires Peterson-backed Angoss for $30 mln -...

Datawatch Corp (NASDAQ: DWCH) has acquired Angoss Software Corp, a Toronto-based provider of advanced predictive analytics used by more than 300 businesses in 30 countries. Datawatch paid more than $30 million (US$24.5 million) in cash, financed...

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www.pehub.com
Microsoft acquires Avere Systems to further hybrid...

In a world shifting to the cloud, Microsoft has carved out a place trying to help companies caught between two worlds - on-prem legacy solutions and the public and private cloud. To help further that hybrid mission, the company announced it was...

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techcrunch.com
In data-focused deal, Relx Group agrees to buy...

Relx Group plc, a British analytics provider with annual revenues of about $10 billion, today announced plans to acquire California-based ThreatMetrix Inc. for £580 million ($817 million). The deal is the company's biggest in a decade. The size...

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siliconangle.com
TEBS 100 INDEX PERFORMANCE
TEBS 100 INDEX METRICS

For a confidential conversation about your company's strategic alternatives for exiting, merging, acquiring, or obtaining venture financing, please contact Mik Gusenius.

Prepared by:
Mik Gusenius, Director

Phone: 952.253.6005


Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis. Our firm specializes in serving middle market companies and their owners, whether private, public, or divisions of larger corporations.
Important Disclosures

The information included in this publication has been obtained from public sources, and is not based upon private or confidential Cherry Tree information. Cherry Tree gathers its data from sources it considers reliable. However, it does not guarantee the accuracy or completeness of the information provided within this publication. Any opinions presented reflect the current judgment of the authors and are subject to change. Cherry Tree makes no warranties, expressed or implied, regarding the accuracy of this information or any opinions expressed by the authors. Officers, directors, partners of Cherry Tree and Cherry Tree proprietary investment funds may have positions in the securities of the companies discussed, and certain affiliates of Cherry Tree may recommend to specific clients the purchase and sale of securities discussed in the publication. This publication does not constitute a recommendation with respect to the securities of any company discussed herein, and it should not be construed as such. Cherry Tree or its affiliates may from time to time provide investment banking or related services to these companies. Like all Cherry Tree employees, the authors of this publication receive compensation that is affected by overall firm profitability. We undertake no obligation to update any information in this publication.

The TEBS Performance Index is a hypothetical index, and does not reflect an actual investment portfolio. Comparisons between the TEBS Index and other indices are for illustrative purposes only. Correlations in performance information for the TEBS Performance Index and other indices should not be relied upon as indicative of risks involved in owning or holding a portfolio of securities similar to the TEBS Performance Services Index. Past performance should not be relied upon as indicative of future performance.