M&A Deal Summary

UKG Acquires Immedis

On June 6, 2023, UKG acquired internet software and services company Immedis from Scottish Equity Partners and Lead Edge Capital

Acquisition Highlights
  • This is UKG’s 6th transaction in the Internet Software and Services sector.
  • This is UKG’s 1st transaction in Ireland.

M&A Deal Summary
Date 2023-06-06
Target Immedis
Sector Internet Software and Services
Buyer(s) UKG
Sellers(s) Scottish Equity Partners
Lead Edge Capital
Deal Type Add-on Acquisition

Target

Immedis

Dublin, Ireland
website
Immedis provides multi-country payroll processing via its cloud-based software platform. This platform enables payroll processing in 150 countries and provides customers with a consolidated view of their global payroll operations. Immedis is based in Dublin, Ireland.

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Buyer(S) 1

Buyer

UKG

Lowell, Massachusetts, United States

website

Category Company
Founded 1977
Sector Internet Software and Services
DESCRIPTION

UKG is a provider of cloud-based workforce management solutions. Company solutions, which include time and labor, scheduling, talent management, human resources, payroll, absence management, labor activity tracking, data collection, self-service and workforce analytics are designed for a wide range of businesses and organizations from single-site to large multi-site enterprises. UKG was founded in 1977 and is based in Lowell, Massachusetts.

DEAL STATS #
Overall 25 of 25
Sector (Internet Software and Services) 6 of 6
Type (Add-on Acquisition) 21 of 21
Country (Ireland) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-03 Quorbit

Oxford, United Kingdom

Quorbit specializes in long-term workforce planning solutions for people in frontline and hourly roles. The company helps large and complex organizations strategically plan future workforce decisions with detailed modeling, associated labor budgets, and recruitment strategies. Built in the Google Cloud Platform which also powers UKG solutions Quorbit forecasts staffing needs years into the future, empowering organizations to optimize operations while proactively crafting growth and learning opportunities for all people. Quorbit

Buy -

Seller(S) 2

SELLER

Scottish Equity Partners

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2000
Size Large
Type Sector Focused
DESCRIPTION

Scottish Equity Partners is a growth capital firm focused on high-growth tech company invests in the UK and Ireland. The Firm looks to invest up to £25 million across a range of sectors, with a particular interest in enterprise software, consumer internet and tech-enabled service businesses. Scottish Equity seeks to build value by playing an active and supportive role in the growth and development of its portfolio companies. Scottish Equity Partners is based in London.

DEAL STATS #
Overall 15 of 18
Sector (Internet Software and Services) 1 of 2
Type (Add-on Acquisition) 8 of 9
Country (Ireland) 1 of 1
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-19 Pelion

Glasgow, United Kingdom

Pelion is a global Internet of Things (IoT) connectivity platform, providing secure and scalable IoT connectivity for more than 500 enterprise customers. Pelion’s technology enables IoT devices to connect to the optimal cellular network and technology, orchestrated through a platform that allows customers to manage and control deployed devices. Pelion is based in Glasgow, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-19 Cora Systems

Carrick on Shannon, Ireland

Cora is specialised in Strategic Project Management (SPM) and Project & Portfolio Management (PPM) software. Cora’s software enables global enterprises to successfully plan and manage complex long-term projects whilst maximising profitably. Cora Systems was founded in 1999 and is based in Carrick on Shannon, Ireland.

Buy -
SELLER

Lead Edge Capital

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2009
PE ASSETS 5.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Lead Edge Capital is a growth capital firm focused on software, internet, consumer, and tech-enabled services companies. The Firm has no geographic preferences and will consider both private and public company investments. Leading Edge's investment size is $10 to $200 million. Lead Edge Capital was established in 2009 and is headquartered in New York City.

DEAL STATS #
Overall 7 of 7
Sector (Internet Software and Services) 3 of 3
Type (Add-on Acquisition) 2 of 2
Country (Ireland) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-24 Hakkoda

New York City, New York, United States

Hakkoda is a snowflake services provider helping its customers unlock the power of their data. Through the deployment of scalable teams. Hakkoda offers a range of data modernization services including cloud migration, data governance, strategy & architecture, and BI. Hakkoda was founded in 2021 and is based in New York.

Buy -
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