Cherry Tree & Associates | September 2020
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 a 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 – September 2020
CrowdStrike Acquires Preempt Security

CrowdStrike announced that it has completed the acquisition of identity theft protection provider, Preempt Security. The cloud-based cybersecurity solution provider agreed to acquire Preempt Security for $96M.

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www.nasdaq.com
HostPapa Continues US Expansion with Canvas Host Acquisition

The Canadian cloud service provider, HostPapa, has acquired Canvas Host, its 8th web hosting acquisition. Canvas Host provides domain registration, email, web hosting, reseller hosting and dedicated servers for consumers, businesses and non-profits.

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www.techradar.com
Dye & Durham Acquires Property Information Exchange

Dye & Durham Limited has entered into an agreement to acquire Property Information Exchange from MML Capital Partners for approximately £31M or CDN $53M. Property Information Exchange offers cloud-based real estate due diligence products.

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privatecapitaljournal.com
CheckAlt Acquires U.S. Dataworks

CheckAlt, an independent lockbox and electronic payments provider, has acquired U.S. Dataworks, a software and engineering company, from The Bankers Bank of Oklahoma. The U.S. Dataworks acquisition marks CheckAlt’s third in six years.

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finovate.com
Ivanti Acquires MobileIron and Pulse Secure

Ivanti has acquired cyber security vendors MobileIron and Pulse Secure, as it works to bolster its presence in the unified endpoint management, zero trust security and enterprise service management markets. Ivanti will acquire MobileIron for $872M.

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www.arnnet.com.au
Arista Announces Acquisition of Awake Security

Arista Networks, a leader in cognitive cloud networking, has entered into an agreement to acquire Awake Security, a Network Detection and Response platform provider that combines AI with human expertise to hunt and respond to threats.

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aithority.com
Red Ventures to Acquire CNET Media Group from ViacomCBS

Publishing group, Red Ventures, announced that it is acquiring CNET Media Group from ViacomCBS for $500M. The deal will include the CNET tech site, as well as ZDNet, Gamespot, TVGuide, Metacritic and Chowhound.

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techcrunch.com
Avertium Acquires 1440 Security

Avertium, backed by PE firm Sunstone Partners, has acquired 1440 Security. Avertium offers managed security and consulting services to mid-size and large enterprises. 1440 Security is a close LogRhythm partner with a 24/7 security operations center.

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www.msspalert.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 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.