M&A Deal Summary

Ivanti Acquires Cherwell Software

On January 26, 2021, Ivanti acquired software company Cherwell Software from KKR

Acquisition Highlights
  • This is Ivanti’s 4th transaction in the Software sector.
  • This is Ivanti’s 5th transaction in the United States.
  • This is Ivanti’s 1st transaction in Colorado.

M&A Deal Summary
Date 2021-01-26
Target Cherwell Software
Sector Software
Buyer(s) Ivanti
Sellers(s) KKR
Deal Type Add-on Acquisition

Target

Cherwell Software

Colorado Springs, Colorado, United States
Cherwell Software LLC is an IT and enterprise service management, Cherwell Software empowers IT to lead through the use of powerful and intuitive technology that enables better, faster, and more affordable innovation. The Cherwell® Service Management platform is built from the ground up with a unique codeless architecture that enables rapid time to value, infinite flexibility, and frictionless upgrades every time—at a fraction of the cost and complexity of legacy solutions. Cherwell Software was founded in 2004 and is based in Colorado Springs, Colorado.

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Buyer(S) 1

Buyer

Ivanti

South Jordan, Utah, United States
Category Company
Sector Information Technology
DESCRIPTION

Ivanti is a provider of IT systems management, security management, and service management services. By integrating and automating critical IT tasks, Ivanti helps IT organizations successfully automate and secure the digital workplace. Ivanti is based in South Jordan, Utah.

DEAL STATS #
Overall 7 of 8
Sector (Software) 4 of 5
Type (Add-on Acquisition) 5 of 6
State (Colorado) 1 of 1
Country (United States) 5 of 6
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-28 MobileIron

Mountain View, California, United States

MobileIron is a provider of software and systems for companies to transform into mobile-first organizations. MobileIron is redefining enterprise security with the industry’s first mobile-centric security platform for the Everywhere Enterprise. In the Everywhere Enterprise, corporate data flows freely across devices and servers in the cloud, empowering workers to be productive anywhere they need to work. MobileIron was established in 2007 and is based in Mountain View, California.

Buy $872M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 RiskSense

Sunnyvale, California, United States

RiskSense provides vulnerability management and prioritization to measure and control cybersecurity risk. The cloud-based RiskSense platform uses a foundation of risk-based scoring, analytics, and technology-accelerated pen testing to identify critical security weaknesses with corresponding remediation action plans, dramatically improving security and IT team efficiency and effectiveness. RiskSense was founded in 2015 and is based in Sunnyvale, California.

Buy -

Seller(S) 1

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 147 of 178
Sector (Software) 5 of 7
Type (Add-on Acquisition) 52 of 62
State (Colorado) 2 of 2
Country (United States) 65 of 83
Year (2021) 2 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-25 Wolt

Helsinki, Finland

Wolt is a technology company that makes it incredibly easy to discover and get the best restaurants, grocery stores, and other local shops delivered to home or office. Wolt works together with over 30,000 restaurant and retail partners as well as with over 60,000 courier partners across 23 countries and 129 cities. Wolt was founded in 2014 and is based in Helsinki, Finland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-17 Flow Control Group

Charlotte, United States

Formed in 2014, Flow Control Group is a solutions provider focused on technically oriented products and services for the flow control, fluid handling, and process & industrial automation sectors with locations throughout the U.S. and Canada. As a critical intermediary between over 2,000 suppliers and 10,000 customers, Flow Control Group’s distribution and technical services serve an essential function in the movement of mission-critical components to a diverse array of end markets and applications.

Buy -
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