Updata Partners Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Updata Partners has invested in 8 companies.

Updata Partners’ most common sectors for investment aresoftware (45%) and information technology (24%) . The Firm’s most common investment types include venture (67%) and growth capital (22%). In total, Updata Partners has invested in 21 US states and 5 different countries. Its largest (disclosed) acquisition occurred in 2005 when it acquired Numara Software for $200M.

In the last 3 years, Updata Partners has exited 4 companies. The Firm’s most common exit type is trade sale (72%). Updata Partners’ largest (disclosed) exit occurred in 2015 when it sold Trustwave Holdings for $810M.

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M&A Summary

  • M&A Total Activity110
    • M&A Buy Activity65
    • M&A Sell Activity45
  • Total Sectors Invested 10
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 53

Updata Partners

2100 L Street NW Suite 500,
Washington, District of Columbia 20037
United States
www.updatapartners.com
info@updata.com

Updata Partners is the investment affiliate of Updata Advisors, an East Coast US based investment bank. Updata Partners looks to invest in growth oriented information technology businesses from early-stage to buyout, with revenues up to $50 million. Updata Partners typically invests between $15 and $100 million as a lead or co-lead investor. Within information technology, Updata has specific interest in; infrastructure software, physical and digital security, storage software, educational software, internet and interactive technology, media and wireless infrastructure and services, financial technology software, retail technology, business intelligence, subscription-based and on-demand information services, and business services. Updata Partners was formed in 1998 and is based in Washington DC.


Investment Criteria

Sectors of Interest: Communications, Digital Media, E-Commerce, Information Technology, Internet Software and Services, Media, Software, Staffing

Target Transaction Types: Growth Capital, Recapitalization, Venture

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom

Transaction Criteria Min Max
Target Revenue 5 50
Target EBITDA - -
Investment Size 15 100
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (2.4/yr) # 53 4 4 4 - - 65
vol $212M $212M
Sell (1.2/yr) # 39 2 2 1 - 1 45
vol $2.3B $250M $45M $2.6B
  110

Most Recent M&A

Company Date Value Type
Flyp Technologies, Inc. 2024-07-15 - Trade Sale
Toronto, Ontario · www.uberflip.com
Nerdio 2022-12-14 - Venture
Chicago, Illinois · www.getnerdio.com
Benivo 2022-09-13 - Growth Capital
London, United Kingdom · www.benivo.com
MP Objects B.V. 2022-08-15 45M USD Trade Sale
Rotterdam, Netherlands · www.mpo.com
Improvado, Inc. 2022-05-13 - Venture
San Diego, California · www.improvado.io
Shufti Pro 2022-03-16 - Venture
London, United Kingdom · www.shuftipro.com
Land Technologies Ltd. 2021-10-08 - Venture
London, United Kingdom · www.land.tech
Acuity Insights, Inc. 2021-08-18 - Growth Capital
Toronto, Ontario · www.acuityinsights.com
Glassbox Ltd. 2021-06-10 - IPO
Petah Tikva, Israel · www.glassboxdigital.com
Vector Remote Care LLC 2021-04-26 - Venture
Bend, Oregon · www.vectorremote.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Software 10 (43%) - 29 (45%) 212M (100%)
Information Technology 7 (30%) - 15 (23%) -
Internet Software and Services 3 (13%) - 10 (15%) -
Staffing 1 (4%) - 3 (5%) -
Communications 1 (4%) - 2 (3%) -
Digital Media - - 2 (3%) -
Education - - 1 (2%) -
Healthcare Services - - 1 (2%) -
Media 1 (4%) - 1 (2%) -
Technology Hardware - - 1 (2%) -
Total 23 - 65 $212M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 18 (78%) - 56 (86%) 212M (100%)
  Virginia - - 7 (11%) -
  Illinois 4 (17%) - 6 (9%) -
  Texas 3 (13%) - 5 (8%) -
  Massachusetts 1 (4%) - 5 (8%) 9M (4%)
  New York 1 (4%) - 5 (8%) -
  New Jersey - - 4 (6%) -
  Oregon 3 (13%) - 3 (5%) -
  Florida 1 (4%) - 3 (5%) 200M (95%)
  California 1 (4%) - 3 (5%) -
  Ohio 2 (9%) - 2 (3%) -
  Pennsylvania 1 (4%) - 2 (3%) -
  North Carolina 1 (4%) - 2 (3%) -
  District of Columbia - - 1 (2%) 3M (1%)
  Connecticut - - 1 (2%) -
  Arkansas - - 1 (2%) -
  Washington - - 1 (2%) -
  Utah - - 1 (2%) -
  Minnesota - - 1 (2%) -
  Michigan - - 1 (2%) -
  Maryland - - 1 (2%) -
  Georgia - - 1 (2%) -
United Kingdom 4 (17%) - 4 (6%) -
Canada 1 (4%) - 2 (3%) -
  Ontario 1 (4%) - 2 (3%) -
Netherlands - - 2 (3%) -
Israel - - 1 (2%) -
Domestic 18 (78%) - 56 (86%) 212M (100%)
Cross-border 5 (22%) - 9 (14%) -
Total 23 - 65 $212M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 17 (74%) - 43 (66%) 12M (5%)
Growth Capital 6 (26%) - 14 (22%) -
Divestiture - - 3 (5%) 200M (95%)
Buyout (LBO, MBO, MBI) - - 1 (2%) -
Consolidation - - 1 (2%) -
PIPE - - 1 (2%) -
Recapitalization - - 1 (2%) -
Stake Purchase - - 1 (2%) -
Total 23 - 65 $212M

Exits by Deal Type

Type Total # Value
Trade Sale 17 (38%) 768M (30%)
Trade Sale - Public Company 15 (33%) 1.8B (70%)
Secondary Sale 7 (16%) -
IPO 3 (7%) -
Bankruptcy 1 (2%) -
Divestiture 1 (2%) -
Stake Sale 1 (2%) -
Total 45 $2.6B

Deal Values

buy # Total
$100M to $1B 1 $200M
< $100M 2 $12M
TOTAL $212M
Largest Numara Software, Inc.
$200M (2005-12-15)
sell # Total
$100M to $1B 8 $2.4B
< $100M 2 $117M
TOTAL $2.6B
Largest Trustwave Holdings, Inc.
$810M (2015-04-08)

M&A Connections

Deals
Acquired from
Strategic(s)
5%
3 (5%)
Exited to
Investor(s)
18%
8 (18%)
Strategic(s)
73%
33 (73%)

Investor Summary

Investor Type

Growth Capital Firm

Size

Middle-Market

PE Assets

1.5B USD

Established

1998

Specialist/Generalist

Specialist

Leadership

Barry Goldsmith

Co-Founder & Operating Partner

Ira Cohen

Co-Founder & Operating Partner

John Burton

Co-Founder & Operating Partner

Greg Olear

CFO

Carter Griffin

General Partner

FAQ

When was Updata Partners founded?

Updata Partners was founded in 1998.

What type of investor is Updata Partners?

Updata Partners is a growth capital firm.

Where is Updata Partners headquartered?

Updata Partners is headquartered in Washington, District of Columbia.

How much capital does Updata Partners have under management?

Updata Partners has 1.5B USD under management.

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