M&A Deal Summary

Magnit Acquires Workforce Logiq

On August 17, 2021, Magnit acquired information technology company Workforce Logiq from The Carlyle Group

Acquisition Highlights
  • This is Magnit’s 1st transaction in the Information Technology sector.
  • This is Magnit’s 2nd transaction in the United States.
  • This is Magnit’s 1st transaction in Florida.

M&A Deal Summary

Date 2021-08-17
Target Workforce Logiq
Sector Information Technology
Buyer(s) Magnit
Sellers(s) The Carlyle Group
Deal Type Add-on Acquisition
Advisor(s) Jefferies (Financial)
Latham & Watkins (Legal)

Target

Workforce Logiq

Orlando, Florida, United States
Workforce Logiq is a global provider of software and services to large corporations in the fast-growing, global workforce management space. Workforce Logiq was formed in 1999 and is based in Orlando, Florida.

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Buyer(S) 1

Buyer

Magnit

Folsom, California, United States

Category Company
Founded 1991
Sector Internet Software and Services
Employees600
DESCRIPTION

Magnit is a provider of contingent workforce management solutions through a managed services program (“MSP”) and cloud-based vendor management software (“VMS”). Magnit was founded in 1991 and is based in Folsom, California.


DEAL STATS #
Overall 3 of 5
Sector (Information Technology) 1 of 2
Type (Add-on Acquisition) 3 of 4
State (Florida) 1 of 1
Country (United States) 2 of 4
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-11 Brainnet Group

Nieuwegein, Netherlands

Brainnet Group is a vendor-neutral Managed Services Provider (MSP) providing companies with significant cost savings, process optimization, and high-quality talent across their contingent workforce management programs. Brainnet Group was founded in 1996 and is based in Nieuwegein, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-29 WillHire

Austin, Texas, United States

WillHire is a direct sourcing and talent pool management platform helping several Fortune enterprises to attract and engage contract talent directly while significantly reducing spend. WillHire was founded in 2018 and is based in Austin, Texas.

Buy -

Seller(S) 1

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 426 of 482
Sector (Information Technology) 20 of 22
Type (Add-on Acquisition) 181 of 198
State (Florida) 9 of 11
Country (United States) 234 of 259
Year (2021) 18 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-16 Syniverse

Tampa, Florida, United States

Syniverse is a provider of technology and business solutions for the global telecommunications industry. Syniverse makes mobile work for more than 900 mobile operators, cable and Internet providers, and enterprises in over 160 countries. Syniverse was founded in 1987 and is based in Tampa, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-04 1440 Foods

New York, New York, United States

1440 Foods is a functional snacking and active lifestyle platform with 4 brands: Pure Protein, Met RX, Body Fortress, and Balance Bar. The Company sells protein bars, protein powders, ready-to-drink protein shakes, and protein salty snacks. 1440 Foods is based in New York City.

Sell -