M&A Deal Summary

Hearst Acquires QGenda

On August 12, 2024, Hearst acquired software company QGenda from Francisco Partners and ICONIQ Capital

Acquisition Highlights
  • This is Hearst’s 2nd transaction in the Software sector.
  • This is Hearst’s 26th transaction in the United States.
  • This is Hearst’s 1st transaction in Georgia.

M&A Deal Summary
Date 2024-08-12
Target QGenda
Sector Software
Buyer(s) Hearst
Sellers(s) Francisco Partners
ICONIQ Capital
Deal Type Add-on Acquisition
Advisor(s) Evercore Group (Financial)

Target

QGenda

Atlanta, Georgia, United States
QGenda is a provider of automated healthcare workforce management software. Since its launch in 2006, QGenda has grown to serve more than 1,200 customers in over 30 medical specialties across 5,000 hospitals. The subscription-based automated scheduling software is used by practice groups, hospitals, academic medical centers, and enterprise health systems to build optimal schedules for clinicians and medical staff to provide the best possible care. QGenda was founded in 2006 and is based in Atlanta, Georgia.

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Buyer(S) 1

Buyer

Hearst

New York, New York, United States
Category Company
Founded 1887
Sector Media
Revenue 9.0B USD (2013)
DESCRIPTION

Hearst is a privately held American mass media and business information conglomerate founded by William Randolph Hearst in 1887. The Company operates in a wide range of industries, including publishing, broadcasting, entertainment, digital media, and real estate. Hearst owns over 360 businesses across the globe, including newspapers, magazines, television stations, cable networks, book publishers, and online media. Some of its most well-known brands include Cosmopolitan, Esquire, Harper's Bazaar, Elle, Marie Claire, Car and Driver, and Good Housekeeping. The company also owns a significant stake in ESPN and A&E Networks. Today, Hearst is one of the largest diversified media and information companies in the world. Hearst is based in New York City.

DEAL STATS #
Overall 29 of 29
Sector (Software) 2 of 2
Type (Add-on Acquisition) 19 of 19
State (Georgia) 1 of 1
Country (United States) 26 of 26
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-07 CellTrak

Schaumburg, Illinois, United States

CellTrak is a provider of Care Delivery Management solutions that enable home and community-based care organizations to deliver higher quality care, communicate seamlessly with health care workers, improve compliance, and increase productivity. CellTrak was founded in 2004 and is based in Schaumburg, Illinois.

Buy -

Seller(S) 2

SELLER

Francisco Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 45.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Francisco Partners' headquarters in San Francisco, California.
Francisco Partners' headquarters in San Francisco, California.

Francisco Partners is a private equity firm focused exclusively on investments in technology and technology-enabled services. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Prospective investment situations include divisional buyouts, growth equity financings, acquisitions of private companies, sponsored mergers and acquisitions, and take-privates. Francisco Partners looks for opportunities where it can commit a minimum of $100 million per investment. Francisco Partners was formed in 1999 and is based in San Francisco, California.

DEAL STATS #
Overall 80 of 81
Sector (Software) 28 of 28
Type (Add-on Acquisition) 49 of 49
State (Georgia) 7 of 7
Country (United States) 66 of 67
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-06 Synopsys Software Integrity

Mountain View, California, United States

Synopsys Software Integrity Group is a provider of application security testing solutions.

Buy $2.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-16 iconectiv

Bridgewater, New Jersey, United States

iconectiv is a provider of IT solutions that enable operators to interconnect networks. iconectiv’s market-leading solutions enable the interconnection of networks, devices, and applications for more than two billion people every day. Working closely with private, government and non-governmental organizations, iconectiv has intimate knowledge of the intricacies and complexities of creating, operating and securing the telecommunications infrastructure for service providers, governments and enterprises.

Sell $1.0B
SELLER

ICONIQ Capital

Category Growth Capital Firm
Founded 2011
PE ASSETS 80.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

DEAL STATS #
Overall 17 of 17
Sector (Software) 5 of 5
Type (Add-on Acquisition) 5 of 5
State (Georgia) 1 of 1
Country (United States) 14 of 14
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-12 HeadSpin

Sunnyvale, California, United States

HeadSpin is a provider of mobile performance and user experience need through its Mobile Performance Platform (MPP). The HeadSpin Mobile Performance Platform (MPP) consists of more than 22,000 SIM-enabled devices in more than 150 locations. This enables customers to quickly debug, test and optimize for user experience and performance under real-world conditions around the world. HeadSpin was founded in 2015 and is based in Sunnyvale, California.

Sell -
Mergr

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