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Weekly M&A Report – January 30th, 2023


GrowthPoint Technology Partners provides weekly summary and outlook on last week’s technology M&A deal activity:

  • 64 deals announced
  • Median multiple of 1.6x
  • $9.5B total deal value year to date in technology M&A activity with 368 closed transactions announced

Notable deals in technology M&A include:

Jungheinrich  to Acquire Storage Solutions Read More

German intralogistics pioneer Jungheinric is acquiring Indiana-based Storage Solutions group, a leading provider of racking and warehouse automation solutions in the U.S., to gain enhanced access to the attractive U.S. warehousing and automation market. Jungheinrich has signed a share purchase agreement with Merit Capital Partners, MFG Partners and the management of Storage Solutions for the acquisition of 100% of the share capital in Storage Solutions. The total consideration agreed under the share purchase agreement consists of a purchase price of approximately USD 375 million (which is subject to customary closing adjustments) and a flexible, performance-based component in the mid to high single digit percentage range of the purchase price which can be achieved by the retained Storage Solutions management over three years following completion of the transaction. The acquisition will be financed with available cash and debt with limited leverage impact.

Wisetech Global to Acquire Envase Read More

WiseTech Global (ASX:WTC), developer of leading logistics execution software CargoWise, today announced its acquisition of Envase Technologies (Envase), a leading provider of transport management system software for intermodal trucking, drayage (container haulage) and landside logistics in North America in a transaction valued at US$230 million. Envase is being acquired from private investment firm and supply chain investor Firmament, and a small number of other sellers. Headquartered in the United States, Envase’s solutions for carriers automate and provide visibility for the movement of containers across all aspects of import and export haulage operations from port and rail terminals to destination. Envase’s more than 1,300 customers across North America include trucking companies, ports, depots, and warehouses. Envase is expected to generate approximately US$35 million of revenue for the calendar year 2023 with an EBITDA margin in the low to mid 20% range.

Dell to Acquire Cloudify Read More

Dell is making an acquisition to strengthen its cloud services business, specifically its offerings in DevOps: The company is buying Cloudify, an Israeli startup that has built a platform for cloud orchestration and infrastructure automation. Cloudify’s tools are used by cloud architects and DevOps engineers to manage containers, workloads, and more across hybrid environments. Dell did not officially announce the acquisition, but after sources contacted us, we noticed that Dell had actually published documents with the SEC pertaining to some of the share awards for Cloudify employees. A spokesperson has now also confirmed the purchase to TechCrunch. Dell is not disclosing the value, or any other details, of the acquisition. Our sources tell us that the deal is valued up to $100 million (could be as low as $70 million).

Download the full report below: