Wed, Oct. 19, 10:47 AM
- See: WSJ gets hands on list of Salesforce M&A targets
- Recent management shifts at Tableau Software (NYSE:DATA), labeled with an "In Play" status in the obtained Salesforce target review, are speculated at Stifel to have signaled an effort by the company to remain independent amid revenue deceleration and lowered valuation, making it a more attractive target to a potential acquirer. Tableau Software shares are up by 6% today. N.B. Demandware, acquired by Salesforce in June, is also labeled "In Play" on the document.
- Pegasystems (NASDAQ:PEGA), though sharply up 5.3% subsequent inclusion in the list, stated it had not participated in any talks with Salesforce relating to an acquisition.
- ServiceNow (NYSE:NOW), up 4.4%, has offered no comment on the development.
- Other public names mentioned – Adobe, Workday NetSuite, Veeva Systems, Box, Zendesk, HubSpot
Tue, Oct. 18, 10:06 PM
- Among a cache of Colin Powell emails released by hackers was a presentation prepared in May for the Salesforce.com (NYSE:CRM) board (on which sits Powell) titled "M&A Target Review."
- Partial presentation slides
- The 60-slide document identified 14 possible acquisition targets. Among them were Adobe Systems (NASDAQ:ADBE), whose market cap of $53.7B is above that of Salesforce, and Pegasystems (NASDAQ:PEGA), with a $2.3B valuation.
- The list also included Demandware, which Salesforce ended up buying, and LinkedIn, which the company lost in a bidding war with Microsoft.
- Others: Workday (NYSE:WDAY), ServiceNow (NYSE:NOW), NetSuite (NYSE:N), Tableau (NYSE:DATA), Veeva Systems (NYSE:VEEV), BOX, Zendesk (NYSE:ZEN), HubSpot (NYSE:HUBS).
- CEO Marc Benioff earlier this month when fending off complaints about his interest in Twitter: “We look at a lot of things and we pass on almost everything."
Wed, Jun. 1, 10:06 AM
- As part of its continuing expansion into the security operations software market, ServiceNow (NOW +1.4%) is buying BrightPoint Security, provider of a "security command platform" (known as Sentinel) that helps companies manage threat information, automate threat detection and risk analysis, and share intelligence.
- Terms for the all-cash deal are undisclosed; ServiceNow plans to share more details about the purchase in tandem with its Q2 report. VP Sean Convery: “This acquisition strengthens ServiceNow’s commitment to closing the gap between IT operations and security. BrightPoint will further differentiate the connected experience that ServiceNow users have across security processes and teams.”
- In February, ServiceNow launched Security Operations, a software solution declared to give "both security and IT teams a single platform to respond to security incidents and vulnerabilities," as well as prioritize security risks and automate various tasks. More recently, the company launched a customer service software offering, as it continues expanding beyond its traditional IT service management software stronghold.
Aug. 11, 2015, 4:59 PM
- Along with its FQ1 results, Computer Sciences (NYSE:CSC) announces it's buying Fruition Partners, the biggest management consulting firm exclusively handling deployments of cloud IT service management (ITSM) software leader ServiceNow's (NYSE:NOW) products, and Fixnetix, a provider of IT systems management services for financial industry trading desks. Terms for both deals are undisclosed.
- ServiceNow has been seeing rapid growth as it grabs ITSM software share from on-premise software vendors. CSC notes Fruition is "the only ServiceNow Master Solutions Partner operating in both North America and Europe," and plans to sell its services via CSC's 1,000-person salesforce.
- Regarding Fixnetix, CSC states the company "will be a key component to the implementation of our infrastructure strategy and will advance CSC as a leader in providing managed services to capital markets firms throughout the world." Fixnetix is based in London, and also operates in NYC, Tokyo, Boston, and Chicago. Both purchases bolster CSC's commercial IT services ops before they're split from the company's U.S. public sector ops.
- Following its FQ1 EPS beat and revenue miss, CSC is reiterating FY16 (ends March '16) guidance for EPS from continuing ops of $4.75-$5.05. Consensus is at $4.85.
- Global Business Services revenue fell 7.5% Y/Y in FQ1 to $919M. Global Infrastructure Services fell 15.3% to $885M. North American fell 6% to $957M. Nonetheless, op. margin rose 140 bps Y/Y to 10.8%, and free cash flow by $50M to $120M. $118M was spent on buybacks.
- CSC has risen to $67.00 in AH trading.
- CSC's FQ1 results, PR
Apr. 29, 2015, 3:02 PM
- After following markets lower most of today, enterprise cloud software vendors have jumped thanks to a Bloomberg report stating cloud CRM software giant Salesforce ($51B market cap) has been approached by a potential buyer, and is working with bankers to field offers.
- Gainers include Workday (WDAY +6%), ServiceNow (NOW +4.3%), NetSuite (N +4.3%), Marketo (MKTO +2.7%), Zendesk (ZEN +1.2%), Cornerstone OnDemand (CSOD +1.6%), Castlight (CSLT +2.4%), and Jive Software (JIVE +1.5%).
- Though the cloud software market has seen plenty of M&A activity, a Salesforce deal would easily be its largest. Workday ($17.5B market cap) is the second-largest enterprise cloud pure-play. ServiceNow ($11.6B) is #3.
Sep. 19, 2014, 11:23 AM
- SAP (SAP -3.9%) investors have a case of sticker shock after the company agreed to pay $8.3B (to be financed through a credit facility) to buy cloud travel/expense management software leader Concur Technologies. The acquisition price is equal to 9.6x Concur's estimated FY15 (ends Sep. '15) sales.
- On the other hand, enterprise cloud software names are rallying on hopes of fresh deal activity. CRM +1.5%. N +2.7%. NOW +2.6%. PAYC +5%. ULTI +2.2%. JIVE +1.8%. DWRE +1.8%. MKTO +1.7%.
- SAP CEO Bill McDermott proclaims combining Concur's products with Ariba's cloud procurement/B2B marketplace offerings and Fieldglass' cloud labor-management software will help his company redefine "how businesses conduct commerce across goods and services, contingent workforces, travel and entertainment."
- McDermott also praises Concur's corporate travel ecosystem, which includes Hertz, Delta, Expedia, Sabre, and many others, and sees an opportunity to create real-time travel collaboration tools running on SAP's Hana in-memory database. SAP notes only 30% of Concur customers are currently SAP clients, yielding plenty of cross-selling opportunities.
Jul. 9, 2014, 1:00 PM
- ServiceNow (NOW +1%) is buying Neebula, an Israeli developer of cloud-based software (called ServiceWatch) that automatically discovers, maps, and monitors the performance of the services delivered by enterprise apps. The all-cash deal is expected to close this month.
- ServiceNow plans to add ServiceWatch to its cloud IT service desk software lineup, and says it will "become a centerpiece" of the company's IT operations management strategy.
- "What [Neebula has] created is one of the Holy Grails of enterprise IT," claims ServiceNow CEO Frank Slootman. "It discovers all the services that are running. It sees the email system and the database and the SAP applications."
- Last year, ServiceNow bought Mirror42, a provider of business intelligence software for analyzing the performance IT departments/infrastructures. Q2 results arrive on July 30.
Jul. 9, 2013, 4:27 PM
ServiceNow (NOW) has acquired startup Mirror42 and wasted no time in renaming its IT business intelligence software ServiceNow Performance Analytics. Mirror42's software, which already supported ServiceNow's cloud-based IT service desk software, provides dashboards, scorecards, and other tools for analyzing the performance of an IT department/infrastructure. Deal terms are undisclosed.| Jul. 9, 2013, 4:27 PM
Jan. 15, 2013, 4:12 PMSymantec (SYMC +4.7%) closes with a healthy gain after the WSJ reports the company's Altiris device management/configuration software unit is on the block and drawing P-E interest. Symantec bought Altiris, which competes with ServiceNow (NOW +4.4%) and whose tools manage everything from servers to smartphones, for $800M in '07. The WSJ adds a sale of Symantec's Veritas storage software business, the subject of occasional speculation, is unlikely. (Morgan Stanley upgrade) | Jan. 15, 2013, 4:12 PM
Sep. 10, 2012, 5:59 PM
Citrix (CTXS) has acquired Beetil, a developer of cloud-based service desk software for technical support workers. Beetil's products complement those found in Citrix's GoToAssist product support solutions, and make the company more of a direct competitor to ServiceNow (NOW), one of the early leaders in the cloud service desk space. BMC Software (BMC) also competes in this area.| Sep. 10, 2012, 5:59 PM