M&A Deal Summary

Bsquare Acquires TestQuest

On November 20, 2008, Bsquare acquired test/measurement equipment company TestQuest from Needham Capital Partners

Acquisition Highlights
  • This is Bsquare’s 1st transaction in the Test/Measurement Equipment sector.
  • This is Bsquare’s 2nd transaction in the United States.
  • This is Bsquare’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2008-11-20
Target TestQuest
Sector Test/Measurement Equipment
Buyer(s) Bsquare
Sellers(s) Needham Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Architect Partners LLC (Financial)

Target

TestQuest

Minneapolis, Minnesota, United States
TestQuest, Inc. develops automated, non intrusive product testing for embedded systems. The company's products replace labor-intensive manual testing in the general computing, hand held, industrial control and interactive television markets.

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Buyer(S) 1

Buyer

Bsquare

Seattle, Washington, United States
Category Company
Founded 1994
Sector Software
Revenue 36M USD (2022)
DESCRIPTION

Bsquareis a provider of software services and products. The company helps its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes. Bsquare DataV software solutions can be deployed by a wide variety of enterprises to create business-focused Internet of Things (IoT) systems that more effectively monitor device data, automate processes, predict events and produce better business outcomes. Bsquare was founded in 1994 and is based in Seattle, Washington.

DEAL STATS #
Overall 2 of 2
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Minnesota) 1 of 1
Country (United States) 2 of 2
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-03-01 Infogation

San Diego, California, United States

Infogation Corp. designs and develops navigation software for the automotive industry.

Buy -

Seller(S) 1

SELLER

Needham Capital Partners

New York, New York, United States
Category Private Equity Firm
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Needham Capital Partners is the private equity affiliate of mid-market investment bank Needham & Company. Needham Capital targets investments in clean technology, communications, consumer, financial services, healthcare, semiconductor, enterprise software/storage, networking, and industrial service companies. The Firm prefers to act as the lead investor and has a target investment size of $2 to $10 million. Investment proceeds are typically used to finance growth, or fund management buyouts/recapitalizations. Prospective companies are generally located in the US. Needham Capital Partners is based in New York City, with additional offices in Boston, Menlo Park, and San Francisco.

DEAL STATS #
Overall 40 of 55
Sector (Test/Measurement Equipment) 4 of 4
Type (Add-on Acquisition) 21 of 31
State (Minnesota) 2 of 2
Country (United States) 39 of 54
Year (2008) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-06 Ceon

Redwood City, California, United States

Ceon Corp. designs and develops operation support systems (OSS) for the telecommunications industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-27 Favrille

San Diego, California, United States

Favrille, Inc. engaged in the research, development, and commercialization of targeted immunotherapies for the treatment of cancer and other diseases of the immune system.

Sell -
Mergr

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