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Meridian Capital

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SaaS M&A Trends: Winter 2023

Published December 19, 2022

Home > M&A Trends > SaaS M&A Trends: Winter 2023

Key Insights

  • Product-led growth strategy to unleash revenue potential.
  • The rise of micro-SaaS products as companies look for cost-cutting solutions.
  • Government’s increasing interest in SaaS applications.
  • Increase in cyber attacks lead to an acceleration in cybersecurity spending.

SaaS M&A Commentary

After reaching stratospheric levels, SaaS valuations have experienced an extreme plunge over the last year as the market conducts a rerating of the landscape. Also contributing to this drawdown are broader bear market factors in the face of a possible recession. While some prominent SaaS companies have experienced 70%+ declines, we believe it’s important to keep in mind that the SaaS model is fundamentally intact.

For years, the market has experienced extreme exuberance, favoring growth stories fueled by lower interest rates, leading SaaS firms globally to prioritize bloated operating budgets. It is likely that the combination of broader economic uncertainty, high interest rates, geopolitical tensions, and negative sentiment toward technology have caused an overcorrection in SaaS valuations, although valuations are not anticipated to return to normality until the above factors have abated. Now we are at a critical juncture for SaaS, in which priorities have shifted wherein efficiency and profitability are front of mind.

View the Report

SaaS Middle Market M&A Activity and Trends

SaaS M&A Commentary

  • After reaching stratospheric levels, SaaS valuations have experienced an extreme plunge over the last year as the market conducts a rerating of the landscape.  Also contributing to this drawdown are broader bear market factors in the face of a possible recession.  While some prominent SaaS companies have experienced 70%+ declines, we believe it’s important to keep in mind that the SaaS model is fundamentally intact.
  • For years, the market has experienced extreme exuberance, favoring growth stories fueled by lower interest rates, leading SaaS firms globally to prioritize bloated operating budgets. 
  • It is likely that the combination of broader economic uncertainty, high interest rates, geopolitical tensions, and negative sentiment toward technology have caused an overcorrection in SaaS valuations, although valuations are not anticipated to return to normality until the above factors have abated.
  • Now we are at a critical juncture for SaaS, in which priorities have shifted wherein efficiency and profitability are front of mind.

Recent SaaS M&A Transaction Activity

SaaS Public Market Valuations (EV/Revenue)

2022A*: As of December 16, 2022 
Source: PitchBook Data, Mergermarket, Company Press Releases, Meridian Research 

SaaS Market Insights

Product-led Growth Strategy to Unleash Revenue Potential

  • Product-led Growth (“PLG”), the go-to-market strategy in which product usage drives customer acquisition and expansion, is becoming increasingly common among SaaS companies.
  • The product-led SaaS business model tends to grow faster due to lower customer acquisition cost without the distraction of having to build a payments infrastructure.
  • Nearly 60% of Forbes Cloud 100 companies in 2022 use PLG strategy, and 70% of the top 50 allow users to try the product for free before buying or upgrading services.
  • PLG helps companies scale faster and more efficiently while keeping costs low and maintaining a high profitability margin.

 The Rise of Micro-SaaS Products as Companies Look for Cost-Cutting Solutions

  • Micro-SaaS targets a niche market, using minimal resources while solving for efficiencies, e.g., Storemapper is one of the first-known examples of the Micro-SaaS model.
  • Due to tight labor market conditions, combined with a growing need to expand margins, many businesses are turning to micro-SaaS for their business needs. 
  • Niche SaaS solutions are now seeing a lot of development, especially during challenging economic times when firms look for cost-cutting solutions.
  • Many of the firms involved in Micro-SaaS have lean sales and marketing teams, leading to less operational bloat as the necessity of the product itself acts as its own marketing strategy. 
  • As investors flock to capture early-stage growth opportunities, it is expected that Micro-SaaS companies will rebound in the near-term.

Government’s Increasing Interest in SaaS Applications

  • Government leaders are increasingly noticing the growing need to improve legacy systems.
  • SaaS solutions offer flexibility, allowing for customization and secure APIs that make it easy to aggregate and access data in a safe and secure manner that government organizations require.
  • SaaS has put in considerable work to change the perception that cloud-based solutions are less secure than on-premises software, leveraging the fact that SaaS solutions are upgraded and optimized daily, making them more impervious to attack.
  • A recent survey of state Chief Information Officers (CIOs) indicated that their top technology priorities are cloud solutions and SaaS implementation. 

Increase in Cyber Attacks Lead to an Acceleration in Cybersecurity Spending

  • The SEC has proposed new cybersecurity risk management rules and amendments to enhance cybersecurity preparedness and improve the resilience of investment advisers and investment companies against cybersecurity threats and attacks.
  • According to the United States Government Accountability Office (“GAO”), the cost of major cyber attacks have increased 453% from 2016 to 2021.
  • Among surveyed CIOs, cybersecurity has become one of the most important risk factors when considering information technology strategy. 
  • With the never-ending cybersecurity race accelerating at unprecedented levels, industry forecasts suggest record level spending on the horizon.

Source: NASCIO, Financial News Media, Forbes, Cyber Security Drive, TechCrunch, BDO, SEC, McKinsey, PitchBook, Mergermarket, Press Releases, Company Research

SaaS Selected M&A Activity

Highlighted Sales & Marketing SaaS Transaction

Adobe Systems Acquires Figma (ANNOUNCED)

Sept 2022

EV
$20,000M

EV/Revenue
50.0x

Target Description: Figma is a developer of a design tool built to help companies brainstorm, design, and build better products from start to finish. 

Investment Rationale: This acquisition will enhance productivity, accelerate creativity on the web, advance product design and inspire global communities of creators, designers, and developers. The combined company will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders, and the industry.

Highlighted Cybersecurity SaaS Transaction

Thoma Bravo Acquires SailPoint

Aug 2022

EV
$8,486M

EV/Revenue
17.1x

Target Description: SailPoint is the leader in identity security for the modern enterprise. Harnessing the power of AI and machine learning, SailPoint automates the management and control of access.

Investment Rationale: This transaction will position SailPoint to drive innovation in identity security, expand its global customer base, and continue providing industry-leading identity security solutions to modern enterprises around the world.

Highlighted MSP SaaS Transaction

Kaseya Acquires Datto

Jun 2022

EV
$6,200M

EV/Revenue
9.3x

Target Description: Datto is the leading global provider of security and cloud-based software solutions purpose-built for Managed Service Providers (MSPs).

Investment Rationale: This acquisition will strengthen Kaseya’s IT Complete platform with an enhanced array of best-in-class solutions to help increase MSP efficiency and profitability. Customers can immediately expect substantial investments focused on upgrades and innovations to all Datto product offerings.

Source: PitchBook Data, Mergermarket, Company Press Releases, Meridian Research 

Public Company Valuations

Public Company Valuations Summary

By CategoryMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
Communications & Collaboration$5,247$5,554$1,286($92)(15%)4.6x39.8x(46%)
Data & Analytics9,8519,9301,179(121)(21%)7.2x31.2x(31%)
DevOps11,00511,3781,137(154)(22%)9.3x87.5x(37%)
Ecommerce753854268(95)(37%)3.5xnm(48%)
Education2,6772,847746(289)(27%)3.9x41.0x(15%)
Entertainment35,37337,71010,0973,498(5%)5.4x34.4x(52%)
Financial15,29915,7022,687215(16%)7.0x43.1x(25%)
Food Delivery2,0001,895314(66)(22%)5.6xnm(19%)
Healthcare8,3338,3171,152(2,272)(365%)7.9x52.2x(44%)
Human Capital Management14,66814,8121,53549(4%)10.6x66.1x(12%)
Internet8,44710,4632,7183116%4.0x22.1x(21%)
Other10,33210,7221,326154(15%)6.8x39.1x(17%)
Sales and Marketing29,77630,5504,604904(7%)6.2x34.8x(42%)
Security13,34013,6391,50319(4%)10.2x21.1x(24%)
Supply Chain & ERP53,60467,8969,2733,072(10%)6.0x25.1x(19%)
Median$10,332$10,722$1,326$19(15%)6.2x39.1x(25%)
Mean$14,714$16,151$2,655$342(38%)6.6x41.4x(30%)
(US $ in millions)

Public Company Valuations by Categories

Communication & CollaborationTickerMarket CapEnterprise ValueLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
Zoom Video CommunicationsZM$21,404$20,408$4,347$49811%4.7x41.0x(65%)
DocuSignDOCU11,97412,1792,437(28)(1%)5.0xnm(64%)
TwilioTWLO9,40710,0273,644(1,037)(28%)2.8xnm(82%)
DropboxDBX8,60810,5162,29251723%4.6x20.3x(5%)
SmartsheetSMAR5,5825,458712(204)(29%)7.7xnm0%
Five9FIVN5,1685,829744(32)(4%)7.8xnm(48%)
WorkivaWK4,4124,557515(77)(15%)8.9xnm(37%)
BoxBOX4,5294,748968899%4.9x53.1x18%
RingCentralRNG4,0185,3891,912(458)(24%)2.8xnm(78%)
AsanaASAN3,2943,043509(387)(76%)6.0xnm(81%)
PagerDutyPD2,3462,386348(119)(34%)6.9xnm0%
EverbridgeEVBG1,2571,582418(20)(5%)3.8xnm(55%)
Bandwidth (US)BAND6501,135542255%2.1x44.9x(66%)
AgoraAPI448422161(99)(61%)2.6xnm(78%)
Ribbon CommunicationsRBBN506846817(142)(17%)1.0xnm(55%)
OomaOoma35134521031%1.6xnm(33%)
Median$4,215$4,652$728($54)(10%)4.6x42.9x(55%)
Mean$5,247$5,554$1,286($92)(15%)4.6x39.8x(46%)
(US $ in millions)
Data & AnalyticsTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
Snowflake(Database Software)SNOW$47,983$47,418$1,860($730)(39%)25.5xnm0%
Palantir TechnologiesPLTR15,28913,1231,830(508)(28%)7.2xnm(63%)
Akamai TechnologiesAKAM13,96916,6653,5941,28236%4.6x13.0x(26%)
MongoDBMDB14,59514,7801,189(326)(27%)12.4xnm(59%)
NutanixNTNX7,6678,6271,636(320)(20%)5.3xnm4%
ElasticsearchESTC5,7435,485978(183)(19%)5.6xnm(53%)
AlteryxAYX3,5184,373728(271)(37%)6.0xnm(20%)
CommVault SystemsCVLT2,8802,631794537%3.3x49.5x(6%)
AppianAPPN2,7532,762447(136)(30%)6.2xnm(47%)
UdemyUDMY1,7001,287599(122)(20%)2.1xnm(34%)
AmplitudeAMPL1,5051,269222(86)(39%)5.7xnm0%
Health CatalystHCAT613737272(101)(37%)2.7xnm(72%)
Median$4,631$4,929$886($159)(28%)5.7x31.2x(30%)
Mean$9,851$9,930$1,179($121)(21%)7.2x31.2x(31%)
(US $ in millions)
DevOpsTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
AtlassianTEAM$38,290$38,133$2,996($75)(3%)12.7xnm(58%)
DatadogDDOG25,55726,0991,532201%17.0xnm(54%)
SplunkSPLK14,99518,2343,304(492)(15%)5.5xnm0%
UnityU13,11113,6831,256(600)(48%)10.9xnm(79%)
DynatraceDT11,74711,4661,04013113%11.0x87.5x(32%)
GitLabGTLB7,4407,068379(188)(50%)18.6xnm0%
New RelicNEWR4,2754,356853(134)(16%)5.1xnm(40%)
JFrogFROG2,3362,305263(73)(28%)8.8xnm(23%)
FastlyFSLY1,1691,917411(110)(27%)4.7xnm(78%)
UserTestingUSER1,068918185(63)(34%)5.0xnm0%
Sumo LogicSUMO1,069980288(112)(39%)3.4xnm(42%)
Median$7,440$7,068$853($110)(27%)8.8x87.5x(40%)
Mean$11,005$11,378$1,137($154)(22%)9.3x87.5x(37%)
(US $ in millions)
EcommerceTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
ZuoraZUO$864$940$384($95)(25%)2.5xnm(68%)
VTEXVTEX709687149(59)(39%)4.6xnm0%
BigCommerceBIGC$686$936$272($131)(48%)3.4xnm(75%)
Median$709$936$272($95)(39%)3.4xnm(68%)
Mean$753$854$268($95)(37%)3.5xnm(48%)
(US $ in millions)
EducationTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
QualtricsXM$6,333$5,876$1,386($997)(72%)4.2xnm0%
InstructureINST3,5233,7804619220%8.2x41.0x5%
2UTWOU6141,487971(192)(20%)1.5xnm(65%)
KalturaKLTR237244167(58)(34%)1.5xnm0%
Median$2,068$2,634$716($125)(27%)2.9x41.0x0%
Mean$2,677$2,847$746($289)(27%)3.9x41.0x(15%)
(US $ in millions)
EntertainmentTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
NetflixNFLX$141,441$149,215$31,473$19,84563%4.7x7.5x(51%)
SpotifySPOT15,31914,29112,172801%1.2xnm(69%)
Match GroupMTCH12,44615,9343,2092608%5.0x61.3x(67%)
Peloton (Recreational Goods)PTON4,1355,6603,393(2,649)(78%)1.7xnm(73%)
Sprout SocialSPT3,5253,452237(44)(19%)14.5xnm0%
Median$12,446$14,291$3,393$801%4.7x34.4x(67%)
Mean$35,373$37,710$10,097$3,498(5%)5.4x34.4x(52%)
(US $ in millions)
FinancialTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
IntuitINTU$117,685$123,161$13,316$3,27625%9.2x37.6x(36%)
AdyenADYEN48,89143,3138,32183610%5.2x51.8x(40%)
BlockSQ42,61343,31916,959(191)(1%)2.6xnm(61%)
Bill.comBILL13,08813,335754(250)(33%)17.7xnm(54%)
Black KnightBKI9,44312,1371,55562840%7.8x19.3x(28%)
CoupaCOUP5,9897,666818(132)(16%)9.4xnm(50%)
BlackLineBL4,2445,453498(38)(8%)10.9xnm(34%)
Clearwater AnalyticsCWAN3,4573,24329121%11.2xnm0%
nCinoNCNO3,0052,975374(78)(21%)8.0xnm(54%)
EngageSmartESMT2,8412,5812823111%9.2x83.5x0%
VertexVERX2,3682,3714725311%5.0x44.3x0%
Q2 SoftwareQTWO1,5962,136551(30)(6%)3.9xnm0%
IntAppINTA1,5611,537289(79)(27%)5.3xnm0%
EverCommerceEVCM1,2811,7305957713%2.9x22.4x0%
ExpensifyEXFY785747166(29)(18%)4.5xnm0%
EnfusionENFN659595142(301)(213%)4.2xnm0%
DomoDOMO574633299(113)(38%)2.1xnm(67%)
Median$3,005$2,975$498($30)(6%)5.3x41.0x(28%)
Mean$15,299$15,702$2,687$215(16%)7.0x43.1x(25%)
(US $ in millions)
Food DeliveryTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
JamfJAMF$2,815$2,953$452($89)(20%)6.5xnm(37%)
OloOLO1,185837176(42)(24%)4.8xnm0%
Median$2,000$1,895$314($66)(22%)5.6xnm(19%)
Mean$2,000$1,895$314($66)(22%)5.6xnm(19%)
(US $ in millions)
HealthcareTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
Veeva SystemsVEEV$27,443$26,640$2,077$52225%12.8x51.1x(34%)
Teladoc HealthTDOC4,5955,2842,323(9,633)(415%)2.3xnm(72%)
Definitive HealthcareDH1,2901,3402082512%6.4x53.4x0%
Replicel Life SciencesRP330(3)(1,084%)10.2xnm(69%)
Median$2,943$3,312$1,143$11(201%)8.3x52.2x(52%)
Mean$8,333$8,317$1,152($2,272)(365%)7.9x52.2x(44%)
(US $ in millions)
Human Capital ManagementTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
WorkdayWDAY$46,078$47,763$5,946$1242%8.0xnm(36%)
Paycom SoftwarePAYC19,67019,3821,29043434%15.0x44.7x0%
PaylocityPCTY11,68411,69492413414%12.7x87.6x0%
Ceridian HCMCDAY10,62111,4731,192424%9.6xnm(36%)
Monday.comMNDY5,5254,756465(168)(36%)10.2xnm0%
PaycorPYCR4,7344,65945541%10.2xnm(10%)
FreshworksFRSH4,3623,960470(223)(47%)8.4xnm0%
Median$10,621$11,473$924$422%10.2x66.1x0%
Mean$14,668$14,812$1,535$49(4%)10.6x66.1x(12%)
(US $ in millions)
InternetTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
GoDaddyGDDY$11,910$15,104$4,071$68317%3.7x22.1x3%
Wix.comWIX4,9855,8211,366(62)(5%)4.3xnm(44%)
Median$8,447$10,463$2,718$3116%4.0x22.1x(21%)
Mean$8,447$10,463$2,718$3116%4.0x22.1x(21%)
(US $ in millions)
OtherTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
AutodeskADSK$43,166$44,536$4,898$1,01821%9.1x43.8x(30%)
Bentley SystemsBSY11,35413,1071,08029728%12.1x44.1x0%
PTCPTC14,95416,2221,93357130%8.4x28.4x2%
BlackbaudBLKB3,1123,9891,031878%3.9x46.1x(27%)
AnsysANSS22,30922,5402,02768034%11.1x33.1x0%
Guidewire SoftwareGWRE5,3845,618842(208)(25%)6.7xnm(44%)
ToastTOST10,2959,7452,475(159)(6%)3.9xnm0%
ProcorePCOR7,2987,119664(231)(35%)10.7xnm(33%)
AppFolioAPPF4,0424,028443(9)(2%)9.1xnm(12%)
AgrifyAGFY73978(153)(198%)0.5xnm0%
Duck Creek TechnologiesDCT1,6231,491303145%4.9xnm(60%)
DISCOLAW434232136(58)(43%)1.7xnm0%
Median$6,341$6,368$937$21%7.5x43.8x(6%)
Mean$10,332$10,722$1,326$154(15%)6.8x39.1x(17%)
(US $ in millions)
Sales and MarketingTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
Adobe SystemsADBE$158,029$158,800$17,191$6,90040%9.2x23.0x(41%)
SalesforceCRM134,750142,67230,2944,33914%4.7x32.9x0%
The Trade DeskTTD24,93624,2081,483383%16.3xnm(48%)
HubSpotHUBS15,23115,6361,631(48)(3%)9.6xnm(55%)
ZoomInfo TechnologiesZI12,65913,5671,01927927%13.3x48.6x(52%)
PegasystemsPEGA3,1243,6981,238(218)(18%)3.0xnm(65%)
BrazeBRZE2,7082,714327(146)(45%)8.3xnm0%
SprinklrCXM2,3212,179589(73)(12%)3.7xnm0%
LiveRamp HoldingsRAMP1,5771,143572(71)(12%)2.0xnm(50%)
MomentiveMNTV1,1711,213476(85)(18%)2.5xnm(63%)
YextYEXT807765400(53)(13%)1.9xnm(40%)
CyrenCYRN5632(15)(48%)0.2xnm(89%)
Median$2,916$3,206$804($50)(12%)4.2x32.9x(49%)
Mean$29,776$30,550$4,604$904(7%)6.2x34.8x(42%)
(US $ in millions)
SecurityTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
Palo Alto NetworksPANW$48,447$50,341$5,818$1783%8.7xnm0%
CrowdStrike HoldingsCRWD28,26126,5632,035(56)(3%)13.1xnm(44%)
ZscalerZS17,75817,8931,216(277)(23%)14.7xnm(62%)
Check Point Software TechnologiesCHKP16,69516,2682,29188839%7.1x18.3x14%
CloudflareNET17,19418,623894(99)(11%)20.8xnm(64%)
OktaOKTA11,35913,4551,731(750)(43%)7.8xnm0%
F5 NetworksFFIV9,1809,0872,69650119%3.4x18.1x(37%)
CyberArk SoftwareCYBR5,7395,983574(119)(21%)10.4xnm(19%)
QualysQLYS4,4784,32446916134%9.2x26.9x0%
KnowBe4KNBE5,5025,1733113210%16.6xnm0%
TenableTENB4,5434,677648(51)(8%)7.2xnm(29%)
ForgeRockFORG2,0111,923202(56)(28%)9.5xnm0%
Rapid7RPD2,2492,998652(104)(16%)4.6xnm(69%)
Median$9,180$9,087$894($56)(8%)9.2x18.3x(19%)
Mean$13,340$13,639$1,503$19(4%)10.2x21.1x(24%)
(US $ in millions)
Supply Chain & ERPTickerMarket CapE/VLTM RevLTM EBITDALTM EBITDA MarginEV/RevEV/EBITDA52-Week
OracleORCL$220,607$304,713$46,073$17,70438%6.6x17.2x(17%)
ServiceNowNOW84,51585,3926,91966810%12.3xnm0%
Tyler TechnologiesTYL13,93314,8841,83237721%8.1x39.4x(36%)
C3.aiAI1,4381,163270(241)(89%)4.3xnm(61%)
WalkMeWKME881692233(108)(46%)3.0xnm0%
Upland SoftwareUPLD249533314299%1.7x18.6x0%
Median$7,685$8,023$1,073$2039%5.5x18.6x(9%)
Mean$53,604$67,896$9,273$3,072(10%)6.0x25.1x(19%)
(US $ in millions)

Meridian SaaS Index Valuation Multiples YoY Comparison (EV/Revenue)

As of December 16, 2022
Source: PitchBook Data, Mergermarket, Company Press Releases, Meridian Research 

Selected SaaS M&A Transactions

CompaniesDeal DateInvestorsDescriptionEVEV/
Rev
EV/
EBITDA
FormSwiftDec-22DropboxProvider of cloud-based solutions to help businesses of all sizes build, edit, approve, share and print personalized templates and documents. $95nmnm
CoupaDec-22Thoma BravoCloud-based provider of business spending management, or BSM, solutions.$6,15010.2xnm
HyrosDec-22Banzai InternationalDeveloper of a cloud-based ad-tracking platform designed to make it easy for online businesses to understand their sales data and make profitable decisions.110nmnm
Attraqt GroupDec-22Crownpeak TechnologyProvider of visual merchandising and searches services to online retailers through Cloud-based SaaS platform.722.3xnm
ZendeskNov-22Abu Dhabi Investment AuthorityProvider of customer engagement software solutions.8,8625.6xnm
Computer ServicesNov-22Bridgeport PartnersDeveloper of technology solutions to banks, financial institutions, and other businesses nationwide.1,5404.7x15.2x
ChannelAdvisorNov-22CommerceHubProvider of SaaS solutions for retailers and manufacturers.5753.3x29.7x
Rx Savings SolutionsNov-22McKessonDeveloper of a SaaS-based healthcare platform intended to save employers, employees and health plan money on prescription medications.875nmnm
AvalaraOct-22Vista Equity PartnersProvider of compliance solutions.6,9398.8xnm
The Nielsen CompanyOct-22Brookfield Business PartnersProvider of audience measurement, data and analytics services.15,2344.3x11.5x
Trader InteractiveOct-22Carsales.comProvider of online advertising and marketing services intended to serve power sport, recreational vehicle, commercial truck and equipment industries.1,796nm1.0x
RapidMinerSep-22Altair EngineeringDeveloper of a data science platform designed to transform data into simplified business outcomes.100nmnm
Rx Savings SolutionsSep-22McKessonDeveloper of a SaaS-based healthcare platform.875nmnm
FigmaSep-22Adobe SystemsDeveloper of a design tool built to help companies brainstorm, design, and build better products from start to finish.20,000nmnm
ChannelAdvisorSep-22CommerceHubProvider of Software-as-a-Service solutions for retailers and manufacturers.6413.7x30.1x
TufinAug-22Turn/River CapitalProvider of software-based solutions that help organizations visualize, define and enforce a unified security policy.4924.1xnm
Computer ServicesAug-22Bridgeport PartnersProvider of technology solutions to banks, financial institutions, and other businesses nationwide.1,5244.8x14.4x
SailPoint TechnologiesAug-22Thoma BravoProvider of enterprise identity governance solutions.8,48617.1xnm
AvalaraAug-22Vista Equity PartnersProvider of software solutions that help businesses comply with tax requirements for transactions worldwide.6,9398.8xnm
Brightly SoftwareAug-22SiemensDeveloper of a cloud-based operations management software.1,875nmnm
Ping IdentityAug-22Thoma BravoProvider of services to secure access to any service, application or API from any device.2,5908.4xnm
EVO PaymentsAug-22Global PaymentsProvider of payment processing services.3,5616.7x23.8x
Information ResourcesAug-22Hellman & FriedmanProvider of big data, predictive analytics and forward-looking insights to help businesses power action and growth.8,000nmnm
PrescribeWellnessAug-22BlackRockDeveloper of a cloud-based patient relationship management software.140nmnm
ADVA Optical NetworkingJul-22AdtranProvider of optical and Ethernet-based networking solutions to telecommunications carriers and enterprises.7221.0x17.0x
SundaySkyJul-22Clearhaven PartnersDeveloper of a video engagement platform designed to engage people with personalized brands.100nmnm
GTY Technology HoldingsJul-22GI PartnersProvider of a cloud-based suite of solutions for North American state and local governments.3615.7xnm
Dan.comJul-22GoDaddyDeveloper of an online domain marketplace designed to make unused domains accessible to all.75nmnm
BudderflyJun-22Partners GroupDeveloper of energy management systems developed to maximize energy savings.500nmnm
Trader InteractiveJun-22Carsales.comProvider of online advertising and marketing services.1,902nmnm
ZendeskJun-22Abu Dhabi Investment AuthorityProvider of customer engagement software solutions via single applications or the Sunshine suite.9,1016.4xnm
DattoJun-22Insight PartnersProvider of cloud-based software and technology solutions.6,0099.3x53.5x

Source: PitchBook Data, Mergermarket, Company Press Releases, Meridian Research 

 

Meridian Capital's Technology Transaction Experience

*Note: Includes transactions completed by Meridian bankers while at previous firms

Meridian Capital’s Technology Team

Patrick Ringland Photo
Patrick Ringland
President & Managing Director

Technology M&A Reports

Artificial Intelligence M&A Trends: Spring 2024

April 29, 2024

IT Services M&A Trends: Spring 2024

March 25, 2024

Construction Tech M&A Update: Winter 2024

February 6, 2024

IT Services M&A Trends: Fall 2023

October 18, 2023

Digital Commerce M&A Trends: Summer 2023

July 18, 2023

Technology Services: M&A Trends: Spring 2023

April 6, 2023

Healthtech M&A Trends: Fall 2022

October 11, 2022

Technology Market Update: Summer 2022

August 11, 2022

Technology M&A Trends: Spring 2022

May 9, 2022

Technology, Software, SaaS M&A Trends: Winter 2021

April 22, 2021

EdTech M&A Trends: Fall 2020

April 20, 2021

FinTech M&A Trends: Spring 2020

May 19, 2020

Healthcare & Technology M&A Trends: Spring 2020

April 23, 2020

SaaS M&A Trends: Winter 2019 Update

March 12, 2020

Technology M&A Update: Fall 2018

November 5, 2018

Technology SaaS M&A Update – Spring 2017

May 25, 2017

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