M&A Deal Summary

Simfoni Acquires Xeeva

On November 28, 2022, Simfoni acquired internet software and services company Xeeva from PeakEquity Partners

Acquisition Highlights
  • This is Simfoni’s 1st transaction in the Internet Software and Services sector.
  • This is Simfoni’s 2nd transaction in the United States.
  • This is Simfoni’s 1st transaction in Michigan.

M&A Deal Summary
Date 2022-11-28
Target Xeeva
Sector Internet Software and Services
Buyer(s) Simfoni
Sellers(s) PeakEquity Partners
Deal Type Add-on Acquisition

Target

Xeeva

Southfield, Michigan, United States
website
Xeeva is a provider of intelligent cloud-based procurement software and financial solutions for indirect spend and MRO. Used in over 45 countries and available in 18 languages, their software suite automates the source-to-pay process with open communication for e-invoicing, procurement, and sourcing. Xeeva was founded in 2014 and is based in Southfield, Michigan.

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Buyer(S) 1

Buyer

Simfoni

Al Maryah lsland, United Arab Emirates

website

Category Company
Sector Software
DESCRIPTION

Simfoni provides Spend Analytics and Spend Automation products to leading global enterprises. The Simfoni platform utilizes machine learning and artificial intelligence to accelerate and automate key aspects of the procurement process, saving customers time and money and paving the way toward supply chain sustainability. Simfoni is based in Al Maryah Island, United Arab Emirates.

DEAL STATS #
Overall 2 of 2
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Michigan) 1 of 1
Country (United States) 2 of 2
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 EC Sourcing

Morristown, New Jersey, United States

EC Sourcing is a global procurement technology solutions provider comprised of former sourcing & procurement veterans. Recognized for its robust sourcing-centric functionality and practical ease of use with any existing technologies. EC Sourcing was founded in 2001 and is based in Morristown, New Jersey.

Buy -

Seller(S) 1

SELLER

PeakEquity Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2014
PE ASSETS 137M USD
Size Small
Type Sector Focused
DESCRIPTION

PeakEquity Partners is a private equity firm focused on acquiring enterprise software and solutions companies. Specific areas of interest include enterprise infrastructure software, enterprise application software, business analytics, business intelligence, big data, IoT, supply chain management, and information security. PeakEquity looks to invest at least $20 million per transaction and targets businesses with $10 to $50 million of revenue. PeakEquity Partners was formed in 2014 and is based in Radnor, Pennsylvania.

DEAL STATS #
Overall 5 of 5
Sector (Internet Software and Services) 4 of 4
Type (Add-on Acquisition) 4 of 4
State (Michigan) 1 of 1
Country (United States) 5 of 5
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-06 HighLevel

Dallas, Texas, United States

HighLevel is an all-in-one, white-label marketing platform for agencies & consultants. HighLevel platform provides agencies with the tools (CRM, Email, 2-Way SMS, Funnel Builder, Workflows, Facebook & Instagram messaging, and more), the support, and the resources to help agencies grow and scale. It currently serves over 15,000 marketing agencies which represent over 300,000 small businesses around the world. HighLevel was formed in 2018 and is based in Dallas, Texas.

Buy -
Mergr

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