M&A Deal Summary

Flexera Acquires Snow Software

On November 28, 2023, Flexera acquired software company Snow Software from Vitruvian Partners, Sumeru Equity Partners, Adams Street Partners and Ontario Pension Board

Acquisition Highlights
  • This is Flexera’s 8th transaction in the Software sector.
  • This is Flexera’s 1st transaction in Sweden.

M&A Deal Summary
Date 2023-11-28
Target Snow Software
Sector Software
Buyer(s) Flexera
Sellers(s) Vitruvian Partners
Sumeru Equity Partners
Adams Street Partners
Ontario Pension Board
Deal Type Add-on Acquisition

Target

Snow Software

Solna, Sweden
Snow Software is a provider of software asset management ("SAM") solutions. The company's products help both private and public sector organizations in managing their software spend. Snow's solutions further enable IT departments to free up valuable time through automating a number of time-consuming tasks and optimize returns on new software investments. Snow Software was founded in 1997 and is based in Solna, Sweden.

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Buyer(S) 1

Buyer

Flexera

Itasca, Illinois, United States
Category Company
Founded 1987
Sector Software
DESCRIPTION
Flexera Software's corporate headquarters in Schaumburg, Illinois.
Flexera Software's corporate headquarters in Schaumburg, Illinois.

Flexera is a provider of strategic software solutions for application usage management. The Company's solutions help clients deliver continuous compliance optimized usage and maximized value to application producers and their customers. Flexera was founded in 1987 and is based in Itasca, Illinois.

DEAL STATS #
Overall 11 of 11
Sector (Software) 8 of 8
Type (Add-on Acquisition) 11 of 11
Country (Sweden) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-05 Revulytics

Waltham, Massachusetts, United States

Revulytics, Inc. offers cloud-based software usage analytics that gives software producers deep visibility into how their products are being used and misused, providing them with actionable intelligence to generate revenue, optimize product development, and make data-driven decisions across their business. Revulytics compliance analytics solutions and turnkey services are used by leading software vendors to increase license revenue and globally reduce software piracy. Revulytics software usage analytics solution provides valuable insight into product usage and environments, enabling product managers and developers to build better products. Revulytics is headquartered in Waltham, Massachusetts and serves customers worldwide.

Buy -

Seller(S) 4

SELLER

Vitruvian Partners

London, United Kingdom
Category Private Equity Firm
Founded 2006
PE ASSETS 8.5B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Vitruvian Partners is an independent private equity firm that specializes in middle-market buyouts, growth buyouts and growth capital investments in the UK and elsewhere in Northern Europe. Vitruvian looks for companies that are 'operating in dynamic situations, where there is an opportunity to build strategic value'. The Group's target investment size is £25 to £150 million in transactions valued up to £500 million. Sectors of interest include business services, consumer services, financial services, life science, healthcare services, media, technology, communications, and internet software. Vitruvian Partners was formed in 2006 and is based in London.

DEAL STATS #
Overall 20 of 22
Sector (Software) 3 of 3
Type (Add-on Acquisition) 7 of 9
Country (Sweden) 2 of 3
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-26 Aspia

Stockholm, Sweden

Aspia offers accounting, payroll management, HR, consulting, interim consultants and a number of other company-related services. Aspia is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-18 Farfetch

London, United Kingdom

Farfetch is an online destination for luxury fashion, bringing together the world’s best boutiques in a single location. Farfetch is based in London, England.

Sell -
SELLER

Sumeru Equity Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
Size Small
Type Sector Focused
DESCRIPTION

Sumeru Equity Partners, Inc. is a technology-focused private equity firm that makes investments in mid-market software, technology enabled services, and hardware companies with a focus on growth. Sumeru Equity Partners typically invests between $25 and $200 million in companies with revenues greater than $10 million. Sumeru Equity Partners was formed in 2014 and is based in Foster City, California.

DEAL STATS #
Overall 11 of 11
Sector (Software) 4 of 4
Type (Add-on Acquisition) 6 of 6
Country (Sweden) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-13 Q4

Toronto, Ontario, Canada

Q4 is a provider of cloud-based Investor Relations (IR) websites and apps on all screens - desktop, tablet and smartphones. Q4 was founded in 2005 and is based in Toronto, Ontario.

Buy $257M
SELLER

Adams Street Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1972
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Adams Street Partners is a diversified, global investment firm that targets direct, fund of funds, and secondary investments. Adams' direct investing group covers co-investments in buyout transactions, as well as growth equity and venture capital commitments. The direct buyout and growth equity team looks to commit $5 to $30 million per transaction. For venture related investments, commitments of $5 to $20 million are provided to companies in the technology, life sciences and technology enabled services sectors. Typically, target companies have received prior financing from early stage venture firms and are seeking additional capital to fund product development and commercialization. Adams Street Partners was formed in 1972 and is based in Chicago, Illinois.

DEAL STATS #
Overall 95 of 96
Sector (Software) 19 of 20
Type (Add-on Acquisition) 50 of 51
Country (Sweden) 1 of 1
Year (2023) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-26 Qpex Biopharma

San Diego, California, United States

Qpex Biopharma is a biopharmaceutical company that develops multiple antibiotic drug that combats antimicrobial resistance. Qpex Biopharma is based in San Diego, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-20 Actium Health

Palo Alto, California, United States

Actium Health is a healthcare CRM platform that transforms healthcare providers into member-focused enterprises. Actium Health was founded in 2014 and is based in Palo Alto, California.

Sell -
SELLER

Ontario Pension Board

Toronto, Ontario, Canada
Category Company
Sector Financial Services
DESCRIPTION

Ontario Pension Board (OPB) is the administrator of the Public Service Pension Plan ("PSPP" or "the Plan") - a major defined benefit pension plan sponsored by the Government of Ontario.

DEAL STATS #
Overall 1 of 1
Sector (Software) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Sweden) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-04 ALM Media

New York, New York, United States

ALM Media is a content and information services business, providing subscription-based, must-have news, insights, data, and analyses to legal, insurance, finance, commercial real estate, consulting, and business professionals. ALM’s premier brands, such as The American Lawyer, National Law Journal, New York Law Journal, ThinkAdvisor, Judy Diamond, Kennedy Consulting, and Real Estate Media provide critical, timely, and unique information to users regionally, nationally and internationally. ALM Media was founded in 1998 and is based in New York City.

Buy -
Mergr

Product

Company

Legal