Cherry Tree & Associates | October 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 quarterly TEBS updates and an annual research report which are available for download:
Cherry Tree has more than 15 years of experience working with businesses in the TEBS space. 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 – October 2018
IBM to acquire Red Hat for $34 billion

IBM has agreed to acquire Red Hat for $34 billion to diversify its technology hardware and consulting business into higher-margin products and services.

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venturebeat.com
NCR to buy payment processor JetPay for $184 million

Atlanta-based NCR said it will acquire payment processor JetPay.

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www.ajc.com
Cloudera and Hortonworks announce $5.2 billion merger

Over the years, Hadoop, the once high-flying open-source platform, gave rise to many companies and an ecosystem of vendors emerged. It was long believed that some major companies would emerge from the pack, and, sure enough, Hortonworks went...

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techcrunch.com
Thoma Bravo to take Imperva private in $2.1bn deal

Global buyout firmThoma Bravo has agreed to buy California cybersecurity business Imperva in a $2.1 billion deal.

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www.altassets.net
Twilio's $2 billion for SendGrid says that email is not dead

Despite the rise of messaging, chatbots and voice assistants, Twiio's $2 billion purchase of SendGrid sends a message that email is far from dead

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diginomica.com
Intersections to be acquired by joint venture

Intersections Inc. ("Intersections") (NASDAQ: INTX), a theft protection and privacy...

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www.prnewswire.com
Online insurance market QuoteWizard sells to Lending Tree

Insurance comparison marketplace QuoteWizard has been acquired by LendingTree for $300 million, and the price tag could rise even more should the bootstrapped Seattle startup continue its recent record-setting growth.

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www.geekwire.com
Oracle Acquires Datafox, Brings AI-Based Company Data

Oracle has announced that they have acquired the DataFox, a startup that has a huge company database...

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www.startupworld.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.