Crosslink Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Crosslink Capital has invested in 3 companies.

Crosslink Capital’s most common sectors for investment are internet software and services (25%) and information technology (16%). The Firm’s most common investment types include venture (92%) and stake purchase (3%). In total, Crosslink Capital has invested in 14 US states. Its largest (disclosed) acquisition occurred in 2013 when it acquired Ayla Networks for $5M.

In the last 3 years, Crosslink Capital has exited 5 companies. The Firm’s most common exit type is trade sale (74%). Crosslink Capital’s largest (disclosed) exit occurred in 2016 when it sold ServiceMax for $915M.

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M&A Summary

  • M&A Total Activity122
    • M&A Buy Activity69
    • M&A Sell Activity53
  • Total Sectors Invested 15
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 62
  • M&A Advisors 1

Crosslink Capital

Two Embarcadero Center, Suite 2200,
San Francisco, California 94111
United States
(415) 617-1800
www.crosslinkcapital.com
bplan@crosslinkcapital.com

Crosslink Capital is a growth-oriented investment firm focused on technology companies. Crosslink's typically invests in early-stage companies, however, the Firm will consider opportunities at every stage, from seed to pre-IPO to PIPE offerings. Sectors of interest inlude communications/infrastructure services, core technology, semiconductors, internet, and software. Crosslink Capital is based in San Francisco, California.


Investment Criteria

Sectors of Interest: Business Services, Communications, Electrical Equipment, Electronics, Information Technology, Internet Software and Services, Media, Renewable Energy, Retail, Safety/Security, Semiconductors, Software, Technology Hardware, Test/Measurement Equipment

Target Transaction Types: Growth Capital, Venture

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 100 500
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.8/yr) # 65 - 3 - 1 - 69
vol $5M $5M
Sell (1.6/yr) # 45 2 2 2 2 - 53
vol $2.2B $915M $22M $275M $750M $4.2B
  122

Most Recent M&A

Company Date Value Type
Aliro Quantum Technologies 2019-09-18 - Venture
Boston, Massachusetts · www.aliroquantum.com
Vungle, Inc. 2019-07-15 750M USD Secondary Buyout
San Francisco, California · www.vungle.com
ProtectWise, Inc. 2019-03-01 - Add-on Acquisition
Denver, Colorado · www.protectwise.com
BuildingConnected, Inc. 2018-12-20 275M USD Add-on Acquisition
San Francisco, California · www.buildingconnected.com
BrightFunnel, Inc. 2018-01-03 - Add-on Acquisition
San Francisco , California · www.brightfunnel.com
AutoFi 2017-08-24 - Venture
San Francisco, California · www.autofi.com
Phil, Inc. 2017-08-16 - Venture
San Francisco, California · www.phil.us
RadiumOne, Inc. 2017-06-26 22M USD Trade Sale - Public Company
San Francisco, California · www.radiumone.com
Akua, Inc. 2017-05-15 - Venture
Baltimore, Maryland · www.akua-inc.com
365 Data Centers 2017-04-25 - Buyout (LBO, MBO, MBI)
Norwalk, Connecticut · www.365datacenters.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 8 (32%) 5M (100%) 17 (25%) 5M (100%)
Information Technology 1 (4%) - 11 (16%) -
Software 5 (20%) - 10 (14%) -
Technology Hardware 2 (8%) - 8 (12%) -
Business Services 3 (12%) - 4 (6%) -
Digital Media - - 3 (4%) -
Media 2 (8%) - 3 (4%) -
Semiconductors 1 (4%) - 3 (4%) -
Electrical Equipment 1 (4%) - 2 (3%) -
Renewable Energy - - 2 (3%) -
Safety/Security 2 (8%) - 2 (3%) -
Communications - - 1 (1%) -
Electronics - - 1 (1%) -
Information Services - - 1 (1%) -
Test/Measurement Equipment - - 1 (1%) -
Total 25 $5M 69 $5M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 25 (100%) 5M (100%) 69 (100%) 5M (100%)
  California 19 (76%) 5M (100%) 52 (75%) 5M (100%)
  Massachusetts 2 (8%) - 4 (6%) -
  Utah - - 2 (3%) -
  North Carolina 1 (4%) - 1 (1%) -
  New York 1 (4%) - 1 (1%) -
  New Mexico 1 (4%) - 1 (1%) -
  Maryland 1 (4%) - 1 (1%) -
  Texas - - 1 (1%) -
  Oregon - - 1 (1%) -
  Iowa - - 1 (1%) -
  Georgia - - 1 (1%) -
  Connecticut - - 1 (1%) -
  Colorado - - 1 (1%) -
Total 25 $5M 69 $5M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 24 (96%) 5M (100%) 63 (91%) 5M (100%)
Stake Purchase - - 2 (3%) -
Buyout (LBO, MBO, MBI) - - 1 (1%) -
Divestiture - - 1 (1%) -
Growth Capital - - 1 (1%) -
PIPE 1 (4%) - 1 (1%) -
Total 25 $5M 69 $5M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 28 (53%) 3.0B (72%)
Trade Sale 13 (25%) 435M (10%)
IPO 9 (17%) -
Secondary Sale 2 (4%) 750M (18%)
Shut Down 1 (2%) -
Total 53 $4.2B

Top M&A Advisors

Financial Deals
Brightwood Capital Advisors LLC
 1

Deal Values

buy # Total
< $100M 1 $5M
TOTAL $5M
Largest Ayla Networks, Inc.
$5M (2013-06-05)
sell # Total
$100M to $1B 10 $4.0B
< $100M 5 $206M
TOTAL $4.2B
Largest ServiceMax, Inc.
$915M (2016-11-14)

M&A Connections

Deals %
Acquired from
Strategic(s)
100%
1 100%
Exited to
PE Firm(s)
5%
2 5%
Strategic(s)
95%
39 95%

Investor Summary

Size

Large

PE Assets

1.5B USD

Established

1989

Specialist/Generalist

Specialist

Leadership

Sy Kaufman

Founder

Michael Stark

Founder & Portfolio Manager

Tom Bliska

Partner

Dan Myers

Partner

Maureen Offer

Partner, CAO & Controller

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