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1,000 Board level Directors

Our membership currently stands at around 1,000 board level directors representing over 300 different companies, including up-and-coming stars and established market leaders; both public and private companies.

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February’s corporate activity digest

Corporate activity within the UK Megabuyte universe was quiet for a second consecutive month in the new year, with 11 deals completed in February. The Telecoms & Networks peer group did, however, include a couple of significant deals as Lyceum Capital backed an MBO at Timico (at an EV of £50m) and Three acquired UK Broadband (for up to £300m), whilst press reports suggested that Daisy could be planning an IPO in late 2017/early 2018 at a punchy valuation. Other deals of note included Blackstone’s undisclosed majority investment in Cloudreach and Sophos’ purchase of US-based Invincea (for up to $120m). There was no capital markets activity. In other corporate news, Pebble Beach Systems (formerly Vislink) launched a strategic review, and the acquisition of HEG by GoDaddy was said to be on track for an April/May closing. Meanwhile, so far this month, Sage has announced that it will acquire the rest of Fairsail, for an undisclosed amount.

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January’s corporate activity digest

Following a busy end to 2016, the level of corporate activity within the UK Megabuyte universe fell to just 10 deals in January 2017, less than half of December’s total. Significantly, activity dropped in the Software sector, which consisted of IRIS’s purchase of PS Financials, SDL’s divestment of Fredhopper (for £25m) and a France-based acquisition for Allocate Software. In the more active ICT Services sector, M&A deals included GCI’s transformational acquisition of Freedom, NCC’s divestment of its domain services and Cloud Direct’s purchase of AlwaysOn. January private equity and capital markets activity was limited to ECI’s undisclosed minority stake in Edenhouse, MTI Technology’s undisclosed secondary buyout by Endless (from Garnett & Helfrich), and a fundraise from IMImobile to simplify its capital structure. Meanwhile, Datatec released an elusive statement indicating that it could potentially be the subject of a takeover whilst, so far in February, Telit has acquired US-based GainsPan for $8m.

Megabuyte Emerging Stars Showcase session preview – Cyber Security 2.0

Ahead of our inaugural Megabuyte Emerging Stars Showcase event taking place on 9th February, and kindly sponsored by Grant Thornton and NatWest, we are publishing a series of articles addressing the five main conference themes – SaaS Emerging Stars, Funding and Corporate Strategies, How we made it, Market Disruptors, and Cyber Security 2.0. Each theme will be examined in detail on the day, either in a Company Showcase or Panel Session format. Insights on all five themes will centre on contributions from guest companies who are leaders in their respective fields. Sessions are designed to not only help the audience to better understand the participating companies, but also to provide a platform for those companies to present their views on key strategic trends currently affecting their businesses. This fifth and final preview looks at the day’s third panel session, entitled Cyber Security 2.0.

Megabuyte Emerging Stars Showcase session preview – Market Disruptors

Ahead of our inaugural Megabuyte Emerging Stars Showcase event taking place on 9th February, and kindly sponsored by Grant Thornton and NatWest, we are publishing a series of articles addressing the five main conference themes – SaaS Emerging Stars, Funding and Corporate Strategies, How we made it, Market Disruptors, and Cyber Security 2.0. Each theme will be examined in detail on the day, either in a Company Showcase or Panel Session format. Insights on all five themes will centre on contributions from guest companies who are leaders in their respective fields. Sessions are designed to not only help the audience to better understand the participating companies, but also to provide a platform for those companies to present their views on key strategic trends currently affecting their businesses. This fourth preview looks at the day’s second showcase, on Market Disruptors, which is sponsored by finnCap.

Megabuyte Emerging Stars panel session preview – How we made it

Ahead of our inaugural Megabuyte Emerging Stars Showcase event taking place on 9th February, which is kindly sponsored by Grant Thornton and Natwest, we are publishing a series of preview articles addressing the five main conference themes – SaaS Emerging Stars, Funding and Corporate Strategies, How we made it, Market Disrupters, and Cyber Security 2.0. Each theme will be examined in detail on the day, either in a Company Showcase or Panel Session format. Insights on all five themes will centre on contributions from panel speakers who are leaders in their respective fields. This third preview looks at the panel session on How we made it, which is sponsored by Core Capital.

Megabuyte Emerging Stars Showcase panel preview – Funding & corporate strategies

Ahead of our inaugural Megabuyte Emerging Stars Showcase event taking place on 9th February, which is kindly sponsored by Grant Thornton and Natwest, we are publishing a series of preview articles addressing the five main conference themes – SaaS Emerging Stars, Funding and Corporate Strategies, How we made it, Market Disrupters, and Cyber Security 2.0. Each theme will be examined in detail on the day, either in a Company Showcase or Panel Session format. Insights on all five themes will centre on contributions from panel speakers who are leaders in their respective fields. This second preview looks at the panel session on funding and corporate strategies, which is sponsored by Chameleon.

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December’s corporate activity digest

Overseas buyers helped drive up the level of corporate activity within the UK Megabuyte universe in December, to a total of 22 deals. Notably, ABRY exited Thomsons Online Benefits to US-based Mercer (undisclosed), Lyceum Capital exited Clearswift to Swiss-based RUAG (undisclosed), US-listed GoDaddy prevailed in the battle for Cinven-backed HEG (for $1.8bn), VC-backed Nomad Digital was acquired by France-based Alstom (undisclosed), owner-managed Annodata was acquired by Japan-based Kyocera, and Sepura recommended a cash offer from Chinese competitor Hytera (EV of £74m). In private equity activity, Phlexglobal swapped private equity hands from Bridgepoint to Vitruvian (undisclosed) and BGF invested £10m into Virtual1. On the AIM market, Intercede and Mobile Streams raised funds to boost spend resources, whilst IDOX and Artilium tapped investors to fund M&A deals. Meanwhile, so far this year, GCI has acquired Freedom Communications, IRIS has acquired PS Financials and NCC has divested its domain services.

Megabuyte Emerging Stars Showcase session preview – SaaS Emerging Stars

Ahead of our inaugural Megabuyte Emerging Stars Showcase event taking place on 9th February, and kindly sponsored by Grant Thornton and Natwest, we are publishing a series of articles addressing the five main conference themes – SaaS Emerging Stars, Funding and Corporate Strategies, How we made it, Market Disrupters, and Cyber Security 2.0. Each theme will be examined in detail on the day, either in a Company Showcase or Panel Session format. Insights on all five themes will centre on contributions from guest companies who are leaders in their respective fields. Sessions are designed to not only help the audience to better understand the participating companies, but also to provide a platform for those companies to present their views on key strategic trends currently affecting their businesses.This first preview looks at the day’s first showcase, on SaaS Emerging Stars, which is sponsored by Lyceum Capital.

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November’s corporate activity digest

Corporate activity within the UK Megabuyte universe remained fairly steady in November, with 13 deals, although included the sizeable Daisy bid for Alternative Networks, valuing the company at an estimated £184m (10x fiscal 2016 EBITDA). In the remaining M&A activity, there was a theme of overseas deals, including for NCC Group, Sophos, SciSys, Damovo and KCS. Capital Markets activity incorporated FreeAgent’s IPO on AIM and an FPO for Proactis to partly fund its purchase of Millstream, whilst the sole private equity deal was in the HCM software space as Limerston Capital Partners acquired AdviserPlus (undisclosed). Meanwhile, press reports suggested that the bid battle for HEG is nearing its conclusion, a Chinese competitor to Sepura is contemplating a bid for the company, and ServicePower rejected a bid from Constellation Software.

Megabuyte50 Private Company Showcase session preview – Banking & Insurance Software

Ahead of the inaugural Megabuyte50 Private Company Showcase event taking place on the 22nd November, and kindly sponsored by Rothschild and OC&C Strategy Consultants, we are publishing a series of preview articles addressing the five main conference themes. This fifth and final preview looks at the day’s third showcase, on Banking & Insurance Software, kindly sponsored by Dunedin. While the financial services sector is arguably one of the slowest moving from a technology perspective, the technology supplier landscape is also more polarised than most. So, while the mega-vendors struggle even for single digit growth, many smaller vendors can find excellent growth opportunities. While our three presenting companies are all from very different parts of the banking & insurance software landscape, all three are great examples of the growth opportunities on offer in the sector. Interestingly, the three companies are all at different stages of SaaS development.

Megabuyte50 Private Company Showcase session preview – Next Generation SaaS

Ahead of the inaugural Megabuyte50 Private Company Showcase event taking place on 22nd November, and kindly sponsored by Rothschild and OC&C Strategy Consultants, we are publishing a series of preview articles addressing the five main conference themes – Telecoms & Networks, Surviving Cloud Gorillas, IT & Infrastructure Services, Next Generation SaaS, and Banking & Insurance Software. This preview looks at the second panel session, kindly sponsored by Chameleon, with the topic of Next Generation SaaS. The move to SaaS is so much more than just a shift in business model and new technology delivery mechanism, it can be an enabler of a whole new wave of services to client companies. This panel session will examine the building blocks of next generations SaaS, what the key elements could look like, the balance of competitive advantage between SaaS natives and established vendors, and the strength of the funding environment currently.

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October’s corporate activity digest

In October, corporate activity within the UK Megabuyte universe picked up slightly, with 15 deals. Significantly, in the capital markets, banking software giant Misys announced its intention to list in London at a punchy valuation, only to pull the plug weeks later, citing difficult market conditions. In private equity, Node4 switched private equity hands (undisclosed), Five Arrows invested in White Clarke Group (undisclosed), STG outbid Constellation for Bond (again – valuing Bond at £24.1m), and LDC backed an MBO for Mitrefinch (undisclosed). In M&A, Rigby investee companies Fluidata and One Point are merging to form FluidOne, Metronet announced the transformative M247 acquisition (for £48m) and under-pressure Vislink is divesting its hardware business. In other news, GCI raised a £50m debt package to be used primarily for M&A.

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