Thoma Bravo to Buy Coupa Software for $8 Billion
Private equity firm Thoma Bravo will acquire Coupa Software for $8 billion, the global technology company announced in mid-December. A wholly-owned subsidiary of the Abu Dhabi Investment Authority will be a minority investor. The news follows reports earlier in the month that Coupa’s investors were urging the company to hold out for $95 a share...
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Solar Company Tigo Energy to Go Public in SPAC Merger
California-based solar technology and energy storage firm Tigo Energy Inc. and Roth CH Acquisition IV Co. (ROCG) have announced a definitive agreement to combine businesses. Tigo will go public with the close of the transaction, which is expected in the second quarter of 2023. ROCG is a special purpose acquisition company (SPAC) with $117 million held in trust...
Potential Trump Media Merger Delayed to 2023
Shareholders of blank check company Digital World Acquisition Company (DWAC) will delay its merger with Trump Media and Technology Group, the company said. Its shares rose 5% after the announcement was made. The Securities and Exchange Commission (SEC) and federal criminal investigators have been scrutinizing the potential merger, which would take Trump Media public.
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Norfolk Southern to Purchase Key Section of Chicago-Atlanta Rail Route
Norfolk Southern Railway (NS) will buy the Cincinnati Southern Railway from the municipality for $1.62 billion, the rail company, mayor, and railway board announced. The 336-mile line between Cincinnati and Chattanooga is a critical segment of the corridor connecting Chicago with Atlanta and the southeast...
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Partners Group to Acquire Data Center Leader EdgeCore
Riding the wave of M&A activity in the data center industry, Switzerland-based Partners Group will acquire EdgeCore Digital Infrastructure in a $1.2 billion deal to invest in and expand the company, EdgeCore announced. Four-year-old EdgeCore was one of the first platforms in the data center building boom...
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Walgreens’ VillageMD to Acquire Summit Health for $8.9B
VillageMD, a value-based primary care company owned by Walgreens Boots Alliance, has announced it will buy Summit Health, the parent company of urgent care chain CityMD, according to Fierce Healthcare. The deal is valued at $8.9 billion and will expand Walgreens’ footprint into primary, specialty, and urgent care...
UserTesting to Be Sold to Thoma Bravo and Sunstone Partners for...
Thoma Bravo and Sunstone Partners have entered into a definitive agreement to acquire UserTesting, a leader in video-based human insight. The all-cash transaction is valued at $1.3 billion, UserTesting announced. Thoma Bravo, a leading software investment firm, and Sunstone, a private equity firm, will combine UserTesting with UserZoom, a majority of which Thoma Bravo acquired in April...
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Tax Software Leader Avalara Acquired by Vista Equity Partners for $8.4B
Vista Equity Partners recently announced the completion of its $8.4 billion acquisition of tax software company Avalara, which will go private in the deal. Avalara is based in Seattle and employs roughly 5,000. Several shareholders tried to block the deal, with one of its earliest investors, Altair US LLC, claiming Avalara engaged in a “flawed and limited” sale process, according to GeekWire...
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Diamondback Energy the Latest to Expand in the Permian Basin
Texas-based oil and gas company Diamondback Energy has announced a $1.6 billion deal to acquire FireBird Energy, consolidating its fossil fuel assets and maximizing growth in the Permian Basin. Diamondback will pay $775 million in cash and 5.6 million shares valued at about $140 each...
DHS to Buy Climate-Tech Firm Hen-go for $670M
DHS Ventures & Holdings has announced that it will acquire Japanese climate-tech platform Hen-go in a $670 million deal. With the purchase, DHS, a private equity investment leader in the digital transformation of energy management and sustainability, intends to expand its capabilities in energy, sustainability, and environmental commodity consulting, according to Executive Vice Chairman Fernando Aguirre...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...