M&A Deal Summary

Enverus Acquires Oildex

On September 18, 2018, Enverus acquired software company Oildex from Accel-KKR

Acquisition Highlights
  • This is Enverus’ 5th transaction in the Software sector.
  • This is Enverus’ 7th transaction in the United States.
  • This is Enverus’ 3rd transaction in Colorado.

M&A Deal Summary
Date 2018-09-18
Target Oildex
Sector Software
Buyer(s) Enverus
Sellers(s) Accel-KKR
Deal Type Add-on Acquisition

Target

Oildex

Denver, Colorado, United States
website
Oildex offers premier cloud-based oil and gas accounting software with workflow automation and electronic document exchange designed specifically for the oil and gas industry. More than 1,100 operators, 74,000 registered service providers, dozens of financial institutions and millions of mineral rights owners use the Oildex Network to seamlessly and securely collaborate with their business partners, automate critical business processes, eliminate the high cost and errors associated with the handling of paper, and obtain access to key data to make more informed business decisions. Oildex is headquartered in Denver and has offices in Calgary; Houston; Austin; Fayetteville, Arkansas, and Tennessee.

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Buyer(S) 1

Buyer

Enverus

Austin, Texas, United States

website

Category Company
Founded 1999
Sector Information Services
DESCRIPTION

Enverus is a data, software, and insights company focused on the energy industry. Through its SaaS platform, Enverus provides innovative technologies and predictive/prescriptive analytics, empowering customers to navigate the future. Enverus’ solutions deliver value across upstream, midstream and downstream sectors, enabling the industry to be more collaborative, efficient and competitive. Enverus was founded in 1999 and is based in Austin, Texas.

DEAL STATS #
Overall 9 of 15
Sector (Software) 5 of 6
Type (Add-on Acquisition) 8 of 14
State (Colorado) 3 of 4
Country (United States) 7 of 11
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-12 1Derrick Pty.

Australia

1Derrick Pty. Ltd. is an independent oil and gas research and consulting firm, serving more than 150 clients including oil and gas majors, independent E&P companies, blue chip PE firms, top investment banks and consulting firms. 1Derrick provides research services in the Oil & Gas sector through its databases and reports.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-19 Cortex Business Solutions

Calgary, Alberta, Canada

Cortex Business Solutions, Inc. is a network-as-a-service that enables electronic invoicing. Cortex Business Solutions was founded in 1999 and is based in Calgary, Alberta.

Buy CA$46M

Seller(S) 1

SELLER

Accel-KKR

Menlo Park, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Accel-KKR is a private equity firm that seeks control and growth-oriented investments in middle-market technology companies. The Firm targets investments in public and private companies with revenues ranging from $15 to $150 million. Accel-KKR pursues transactions across multiple segments of the technology industry, including software, hardware and internet technologies, and IT enabled services. Accel-KKR's first fund was created in 2000 by Accel Partners and Kohlberg Kravis Roberts & Co. to invest in technology assets and businesses that were outside of each firm's core focus. Accel-KKR is based in Menlo Park, California.

DEAL STATS #
Overall 22 of 52
Sector (Software) 12 of 23
Type (Add-on Acquisition) 15 of 28
State (Colorado) 2 of 2
Country (United States) 17 of 41
Year (2018) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-06 EPiServer

Stockholm, Sweden

EPiServer empowers digital leaders to easily create standout experiences for customers – everywhere they engage, and always with measurable business results. The Episerver Digital Experience Cloud™ unifies digital content, commerce and marketing in one platform, including omnichannel solutions for smart personalization and intelligent campaigns. EPiServer was founded in 1994 and is based in Stockholm, Sweden.

Sell $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-19 TEAM Software

Omaha, Nebraska, United States

TEAM Software is a developer of financial, operations, and workforce management solutions for contractors with distributed workforces of any size, with a focus on the building service and security industries. TEAM Software was founded in 1989 and is based in Omaha, Nebraska.

Buy -
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