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Q2 2020
Sector
Update
Software
Important disclosures appear at the back of this report
GP Bullhound LLP is authorized and regulated by the Financial Conduct Authority
GP Bullhound Inc is a member of FINRA
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GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and
capital to category leaders.
Our quarterly SaaS market report provides quantitative insights into public and private market valuations across the transaction spectrum and
qualitative insights into company business models, technology and trends. We feature many of the leading SaaS companies and CEOs across
interesting sub-sectors.
COVID continues to disrupt people’s lives across the world. Those able are still mostly working remotely, with some economies at the state and
national level re-opening. Cloud software has been an integral part of businesses being able to function throughout the crisis, and public
market valuations have reflected this renewed focus on digital, cloud native operations. Despite the tough macroeconomic conditions,
software M&A has remained strong particularly in the US, where there is consolidation happening in a new environment where burn is being
heavily scrutinized, and valuations have tightened. We expect M&A to remain strong through the rest of this year as PE firms build out platforms
with large amounts of dry powder, and strategics deploy large cash reserves to build out products.
Based in our San Francisco office, Jonathan Cantwell is the head of our software practice with over 15 years of experience and has completed
over 50 transactions with public and private tech companies globally. With 16 transactions in the past 12 months, we recently raised $1B+ for
our clients in new capital and exit proceeds. Several of our recent software advisory transactions and investments are showcased below:
Software perspectives
EXECUTIVE SUMMARY
INVESTMENT BY
Accel - KKR
INVESTMENT BY
CVC
INVESTMENT BY
Wavecrest Growth &
Beringea
ACQUIRED BY
Logic Monitor
ACQUIRED BY
Dude Solutions