M&A Deal Summary

ThirdChannel Acquires Needle

On January 1, 2022, ThirdChannel acquired software company Needle from Stage and Escalate Capital

Acquisition Highlights
  • This is ThirdChannel’s 1st transaction in the Software sector.
  • This is ThirdChannel’s 1st transaction in the United States.
  • This is ThirdChannel’s 1st transaction in Utah.

M&A Deal Summary
Date 2022-01-01
Target Needle
Sector Software
Buyer(s) ThirdChannel
Sellers(s) Stage
Escalate Capital
Deal Type Add-on Acquisition

Target

Needle

Lehi, Utah, United States
Needle engages in advocate-powered customer experience, helps businesses bring the power of human connections to e-commerce. Needle’s CX software identifies online customers who need help and matches them, via real-time online chat, with certified advocates who have first-hand knowledge of the product and passion for the brand. Needle was founded in 2010 and is based in Lehi, Utah.

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Buyer(S) 1

Buyer

ThirdChannel

Boston, Massachusetts, United States
Category Company
Founded 2012
Sector Internet Software and Services
DESCRIPTION

ThirdChannel's retail intelligence platform is used by brands and retailers to know what's happening or should be happening on the ground in thousands of stores, and to identify opportunities to improve in-store experience and ultimately drive higher sales. The Web-based auditing platform integrates real-time data from teams on the ground in stores with POS, inventory, traffic, and other sources of data to reveal retail execution issues. The system generates action plans that guide in-store efforts, unlocking sales potential, and quantifying results with measurable ROI. ThirdChannel was formed in 2012 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 1 of 1
Sector (Software) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Utah) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1

Seller(S) 2

SELLER

Stage

Investor

Category Distressed Investor
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Stage is a turnaround venture firm focused on control acquisitions of venture backed businesses facing challenges and in need of a fresh start. Stage targets technology oriented companies generating $1 to $10 million of revenue and will consider opportunities across the US. Stage was formed in 2009 and is headquartered in Denver, Colorado.

DEAL STATS #
Overall 1 of 1
Sector (Software) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Utah) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-05 Haystack Mountain Creamery

Longmont, Colorado, United States

Haystack Mountain Creamery specializes in goat and cow's milk cheeses. With a collection of awards since its founding. Prioritizing the greatest quality of local dairy, Haystack creates some of the finest cheese in the world. Haystack Mountain Creamery was founded in 1989 and is based in Longmont, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-26 Worklete

Oakland, California, United States

Worklete is an applied technology company significantly reducing workplace injuries. Worklete was founded in 2015 and is based in Oakland, California.

Buy -
SELLER

Escalate Capital

Austin, Texas, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 830M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Escalate Capital Partners is a private investment firm focused on providing capital to expansion and late-stage companies. The Firm focuses its investment activity within the technology, life sciences, and service-based industries. Prospective financing solutions include senior, subordinated and mezzanine debt. Escalate's target investment size is $5 to $30 million. Escalate Capital Partners has offices in Menlo Park, California and Austin, Texas.

DEAL STATS #
Overall 33 of 37
Sector (Software) 8 of 9
Type (Add-on Acquisition) 20 of 24
State (Utah) 2 of 2
Country (United States) 33 of 37
Year (2022) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-20 IDX

Beaverton, Oregon, United States

IDX is a provider of identity protection and data breach services for companies and individuals throughout the U.S. ID Experts combine consumer-centric software and concierge-style professional services in serving organizations across government, healthcare, commercial enterprises, financial institutions, and higher education. IDX was founded in 2003 and is based in Beaverton, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-27 Peerless Network

Chicago, Illinois, United States

Peerless Network provides agile, cost-effective, and simple-to-deploy voice services, including unified communications-as-a-service, session initiation protocols (SIP) trunking, messaging, APIs and Microsoft Teams integration. Peerless Network was founded in 2008 and is based in Chicago, Illinois.

Sell $200M
Mergr

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