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M&A Deal Summary

K1 Investment Management Acquires ELMO Software

On February 24, 2023, growth capital firm K1 Investment Management acquired internet software and services company ELMO Software

Acquisition Highlights
  • This is K1 Investment Management’s 15th transaction in the Internet Software and Services sector.
  • This is K1 Investment Management’s 2nd transaction in Australia.

M&A Deal Summary
Date 2023-02-24
Target ELMO Software
Sector Internet Software and Services
Buyer(s) K1 Investment Management
Deal Type Going Private

Target

ELMO Software

Sydney, Australia
ELMO Software is a cloud-based HR & Payroll software provider. The company offers customers a unified platform to streamline processes for HR, and also manage payroll and rostering / time & attendance. ELMO Software was founded in 2002 and is based in Sydney, Australia.

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Buyer(S) 1

Buyer

K1 Investment Management

Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2011
Size Small
Type Sector Focused
DESCRIPTION

K1 Investment Management, LLC is a West Coast US-based private equity firm investing in high-growth private companies across North America. The Firm has a special interest in enterprise software companies and looks to provide meaningful strategic and operational guidance when working with portfolio companies. K1 Investment Management was established in 2011 and is headquartered in El Segundo, California.

DEAL STATS #
Overall 48 of 50
Sector (Internet Software and Services) 15 of 17
Type (Going Private) 1 of 2
Country (Australia) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-21 TeamDynamix

Columbus, Ohio, United States

TeamDynamix offers a unified no-code platform for IT Service Management (ITSM/ESM) and Project Portfolio Management (PPM) together with enterprise integration and automation (iPaaS). The combined platform offers companies enterprise-level functionality with a lower total cost of ownership. Customers across a broad range of industries including financial services, healthcare, hospitality, manufacturing, retail, education, and government migrate. TeamDynamix as the solution offers highly sophisticated automation with a low administrative burden. TeamDynamix Solutions was founded in 2001 and is based in Columbus, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-30 AppLearn

Manchester, United Kingdom

AppLearn is a system integrator, implementing HR systems for world-leading organizations. AppLearn created ADOPT a purpose-built Digital Adoption Platform (DAP) designed to support complex, large-scale change such as HCM, CRM, and ERP transformation projects. AppLearn was founded in 2011 and is based in Manchester, United Kingdom.

Sell -
Mergr

Product

Company

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