FTI Consulting handled UK-based Sage Group’s $850M deal to acquire Silicon Valley’s Intacct Corp., provider of cloud-based accounting software company.
Stephen Kelly, CEO of Sage, called the deal another major step forward in winning new customers at scale and supporting his cloud-first acquisitions strategy.
|
|
Charles Palmer (L) & Dwight Burden“Intacct opens up huge opportunities in the North American market, representing over half of our total addressable market,” he said.
With the completion of the deal, Intacct will be recast as Sage Intacct and led by current CEO Robert Reid.
The company has an 11,000 customer base. It recorded $67M in revenues for the fiscal 2016 ended June and a $23M pretax loss.
Byron Deeter, an investor and former board member, told TechCrunch: “Intacct is at the scale where they could be a public company today, but instead chose to partner with Sage given the nature of the deal, and the opportunity to have a broader impact together.”
FTI’s Charles Palmer and Dwight Burden guided Sage’s takeover of Intacct.
C Street Advisory handles iRobot Corp as the marketer of the Roomba autonomous vacuum cleaner files Chapter 11 after being squeezed by cheaper competitors.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
