Blog Author

Joe Anto

E: janto@pcecompanies.com

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Industry Trends

Generative AI Drives Innovation

In 2024, transformative technology trends like generative AI (gen AI) are reshaping the tech, media, and telecom (TMT) industries. Gen AI experienced a 700% surge in interest from 2022 to 2023, revolutionizing content creation and customer engagement. Coupled with advancements in AI-driven robotics and immersive reality, these innovations are set to redefine business models and operational efficiencies. Companies must adopt long-term strategies to harness these technologies and remain competitive in the rapidly evolving landscape.1

US Signal Acquires OneNeck IT Solutions, Expanding Digital Infrastructure

US Signal has completed the acquisition of OneNeck IT Solutions, expanding its data centers from 10 to 16 and extending its reach to the West Coast. This acquisition enhances US Signal’s capabilities in cloud hosting, data protection, and disaster recovery, serving over 1,000 customers across 45 states. The deal is significant as it underscores the growing demand for robust digital infrastructure, and data security, driving innovation and connectivity in a highly competitive market.2

FCC Adopts Rules for $9 Billion 5G Fund for Rural America

The FCC has adopted new rules to distribute $9 billion through the 5G Fund for Rural America to expand 5G wireless broadband in underserved rural areas. Up to $900 million will incentivize the use of Open Radio Access Network (Open RAN) technology to enhance competition, security, and supply chain reliability. This initiative is crucial for advancing 5G in rural areas, giving service providers in these areas new opportunities.3

CrowdStrike Apologizes for Global IT Outage

In September 2024, Adam Meyers from CrowdStrike apologized before Congress for a global IT outage in July that disrupted critical sectors like hospitals, airports, and payment systems. The outage, initially suspected to be a cyberattack, was caused by a faulty update of CrowdStrike’s Falcon sensor software, crashing 8.5 million Windows computers. This incident emphasizes how cybersecurity failures in Technology, Media, and Telecommunications (TMT) can have widespread, disruptive effects on interconnected digital infrastructures.4

Largest Transactions Closed

  • Target
  • Buyer
  • Value($mm)
  • Altium Limited
  • Renesas Electronics Corporation
  • $5,871.78
  • Omnissa, LLC
  • KKR & Co. Inc.
  • $4,000.00
  • AuditBoard, Inc.
  • HgCapital LLP; HgCapital Trust plc
  • $3,000.00
  • Cloud-based digital banking business of NCR Voyix Corporation
  • Veritas Capital Fund Management, L.L.C
  • $2,550.00
  • Everbridge, Inc.
  • Thoma Bravo, L.P.
  • $1,639.78
  • Belcan, LLC
  • Cognizant Domestic Holdings Corporation
  • $1,286.97
  • CompoSecure, Inc.
  • Resolute Holdings I, LP
  • $1,188.12
  • Tegus, Inc.
  • AlphaSense, Inc.
  • $930.00
  • One Network Enterprises, Inc.
  • Blue Yonder Group, Inc.
  • $839.00
  • Ebix, Inc.
  • Eraaya Lifespaces Limited; Vikas Lifecare Limited; Vitasta Software India Private Limited
  • $831.85

Other Financial Buyer Transactions Closed

  • Target
  • Buyer
  • Value($mm)
  • MariaDB plc
  • K1 Investment Management, LLC
  • $64.79
  • Info Tech Operating LLC
  • Diversis Capital Management, L.P.
  • n/a
  • The Expert Institute Group, LLC
  • Levine Leichtman Capital Partners, LLC
  • n/a
  • C5MI Insight LLC
  • Diversis Capital Management, L.P.
  • n/a
  • Optivations LLC
  • Skylark Private Equity Partners, LP
  • n/a

Other Strategic Buyer Transactions Closed

  • Target
  • Buyer
  • Value($mm)
  • LinQuest Corporation
  • KBR, Inc.
  • $745.00
  • Micromeritics Instrument Corporation
  • Malvern Panalytical Limited
  • $683.00
  • QRadar Software as a Service assets of International Business Machines Corporation
  • Palo Alto Networks, Inc.
  • $500.00
  • Paymerang, LLC
  • Corpay, Inc.
  • $475.00
  • Curated, Inc.
  • Humans, Inc.
  • $330.00
  • Precision Optical Transceivers, Inc.
  • Belden Inc.
  • $290.00
  • SciAps, Inc.
  • Malvern Panalytical Limited
  • $260.00
  • Hearsay Systems, Inc.
  • Yext, Inc.
  • $220.00
  • SupplyPike, Inc.
  • SPS Commerce, Inc.
  • $206.16
  • Substantially all of the assets of WorldConnect Technologies, L.L.C.
  • Trump Media & Technology Group Corp.
  • $161.82

 

Source S&P Capital IQ as of 10/9/2024 and PCE Proprietary Data

PCE Transactions

Contacts

Joe Anto

New York Office

407-621-2141 |

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Eric Zaleski

Chicago Office

847-239-2466 |

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Jon Gogolak

Orlando Office

407-621-2136 |

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Data Assumptions

This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

Glossary

EBIT - Earnings Before Interest and Taxes
EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
LTM - Last Twelve Months
TEV - Total Enterprise Value

Sources:

  1. 1. Yee, L. “McKinsey Technology Trends Outlook 2024.” McKinsey, 16 July, 2024.
  2. 2. Telecompetitor. “US Signal Completes Acquisition of OneNeck.” Telecompetitor, 6 September, 2024.
  3. 3. Stepanek, L. “FCC Adopts Rules for Distributing $9B Through 5G Fund for Rural America.” Telecompetitor, 30 August, 2024.
  4. 4. Reed, B. “CrowdStrike apologizes for global IT outage in congressional testimony.” Guardian US, 24 September, 2024.
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