HubSpot acquires PieSync

HubSpot, a leading growth platform has acquired PieSync, the fastest-growing real-time intelligent customer data synchronization platform. PieSync is one of the iPaaS offerings that provide both a current and historical two-way sync of customer data that operates in the background, freeing up precious time so companies can focus their energy on their customers instead of their software.

To grow today, companies need to put their customers at the center of their entire operation. That can be hard to do when customer data is spread across disparate solutions, the average employee uses at least eight apps on any given day. Even when the software is integrated, customer data can become out-of-date and inconsistent across tools, leading to complexity and friction for internal teams and customers alike. PieSync enables companies to have a consistent view of their customers across every piece of technology they use. 

PieSync was launched in 2014 with a startup investment from accelerator program Imec.istart and investor Dirk Vermunicht. In 2016, the company raised an additional seed round from AAAF, PMV, Luc Burgelman, and an additional investor. Subsequently in 2018, the company raised a Series A funding led by Fortino Capital and all existing investors.

HubSpot is a leading growth platform. Since 2006, HubSpot has been on a mission to make the world more inbound. Today, over 64,500 total customers in more than 100 countries use HubSpot's award-winning software, services, and support to transform the way they attract, engage, and delight customers. Comprised of Marketing Hub, Sales Hub, Service Hub, and a powerful free CRM, HubSpot gives companies the tools they need to Grow Better.

EY acquires C Centric

EY, the professional service brand in India had acquired C Centric, a provider of customer relationship management (CRM) solutions and services to help businesses rethink, redesign and deliver better customer experience. The acquisition strengthens EY’s commitment to support businesses in their transformation journeys by bringing a customer insight driven strategy that helps organizations look at digital from every angle and unlock the power of key disruptive technologies like artificial intelligence (AI), robotic process automation (RPA), Analytics, Cloud among others.

With the acquisition, EY brings on board a team with extensive experience in conceptualizing and implementing CRM solutions. The C Centric team has a strong reputation in the market for delivering leading-edge CRM solutions and services across industries, particularly financial services including banking and insurance. Their addition to EY will strengthen our ability to help businesses capitalize on the digital wave and provide an end-to-end digital experience to customers.

C Centric was co-founded in 2007 in Mumbai and have a presence in three cities. It is a leading provider of 'customer-centric' software solutions offering customer experience linked consulting services, implementation, and maintenance, as well as customer, focused solutions linked to finance investments and operations. C Centric also partners with some of the world's leading providers of customer management solutions including Microsoft.

EY continues to expand its digital capabilities in India to help organizations solve their complex end-to-end business transformation challenges. With more than 2800 digital and technology professionals in EY India, the firm is well-positioned to deliver advanced digital solutions to organizations in varied functions and industries, leveraging emerging technologies such as AI, RPA, data analytics, internet of things, blockchain, and others.

BroEx acquires REXPROP

BroEx, a mobile based property broker’s network, has acquired Real Estate technology startup REXPROP for an undisclosed amount to expand business and provide better products to its clients.

Gurgaon-based REXPROP or 'Real Estate Property Exchange' is a startup which offers solutions such as inventory distribution, broker to broker listings and CRM for property consultants, agents, brokers and developers. Earlier this year, BroEx had acquired independent broker company Professional Brokers. It had also tied up with real estate consultant JLL India's housing arm for getting access to exclusive deals.

REXPROP has developed innovative offerings around listing management and CRM for real estate brokers which compliment BroEx. BroEx is being used by more than 1.5 lakh real estate brokers, he said, adding that this deal would further enhance its offering and cement position as the go-to software for the brokerage industry.

BroEx, which had raised $1 million as seed funding, helps real estate brokers to serve their customers better and close deals faster. It also provides inventory information to FastFox.Com - rental brokerage service by its parent company OkuTech. OkuTech is founded by IIT alumni and funded by LightSpeed Venture Partners.

Everstone to buy CRM Solutions

India focused private equity firm Everstone Group has agreed to acquire US based global CRM solutions provider C3 (CustomerContactChannels) through its Singapore based arm Everise Services, along with Sunrise BPO Pte Ltd as co-investor. The business has been bought from Stone Point Capital and senior Leadership of C3.

Stone Point Capital is a private equity firm that makes investments in businesses within the global financial services industry. Stone Point has raised and managed six private equity funds – the Trident Funds – with aggregate committed capital of approximately $13 Billion. As part of this strategy, Sunrise BPO will take the leading role in operating the business, in addition to bringing Capital. Everstone will be the largest financial investor and it will take the lead in C3 India operational built out to grow the company.

Everise is targeting to make C3 into a $500 plus Million revenue company over the next five years, from current $200 Million. Over the past six years, C3 has clocked revenue CAGR of more than 60%. This marks Everstone third investment through its latest private equity fund, ECP III, which raised $730 Million last year and the second investment into the ITes enabled space after it acquired a controlling stake Servion Global Solutions.

Founded in 2010, C3 expanded operations in the Philippines and Guatemala and has a marquee list of over 20 clients in healthcare, telecommunications & media, consumer internet, Logistics, retail, travel and hospitality and financial services. C3 also provides training and consulting in the customer management solutions space, as well as sales, performance optimization, reputation management and complete customer lifecycle management via traditional, web, and emerging communication channels.

Oracle buys NetSuite

Oracle will acquire NetSuite for about $9.3 Billion, or $109 per share in all cash deal. Both Oracle and NetSuite’s cloud service offerings aimed at enterprise customers will continue to operate and coexist in the marketplace forever.

Eighteen year old NetSuite claims a dominant position in the cloud enterprise resource planning (ERP) space, which includes offerings to help businesses track supply and demand, inventory, accounting, customer relationships (CRM) and HR. The ERP industry has been an active space for M&A and general consolidation over the past few years, and Oracle in general has been an aggressive acquirer of smaller companies throughout 2016, with recent pick-ups including Opower and Textura.

Oracle acquisition of NetSuite dwarfs its previous 2016 acquisitions in total deal value, though it still ranks below the all-time leader, PeopleSoft, which Oracle acquired for a heady $10.3 Billion way back in 2004, when such stratospheric values were even more uncommon. While their service offerings are similar, NetSuite offers Oracle access to companies sized smaller than its traditional clientele, and could also give it some additional competitive edge in taking on primary rival Salesforce.

Mindtree to buy Magnet 360

Mid-size IT services firm Mindtree Ltd has inked a definitive agreement to acquire Magnet 360, a Salesforce.com platinum consulting partner, for $50 Million in cash, in a move at addressing the cloud based services market. The deal amount includes an upfront payment of $37 Million and earns out and additional payout of up to $13 Million over the next two years.

With the acquisition of Magnet 360, Mindtree will add more than 100 certified Salesforce experts and help clients digitize back end values chains. This acquisition will strengthen their offerings in digitizing the value chain and building sense and respond systems. Founded in 2008, Magnet 360 specializes in Multi-clouded solutions providing consulting services and implementation, mainly to media/entertainment, manufacturing and finance industries. It is operational mainly in the US.

The company has been a Salesforce partner since 2004. Salesforce, Sales Cloud, Service Cloud, Marketing Cloud and others are trademarks of Salesforce.com. Magnet 360 works with companies across Salesforce solutions such as CRM, branded sites and communities, social campaign strategy and management and marketing automation. Salesforce had invested in Magnet 360 along with StarTec Investments and Gage Group.

The company is headquartered in Minneapolis with Offices in New York, Los Angeles and Chicago. Its revenue was about $25 Million in calendar year 2015. Bangalore based Mindtree counts Nalanda Capital, Global Technology Ventures and V G Siddhartha led café Coffee Day Group as its shareholders.

HCL Technologies Acquires PowerObjects

HCL Technologies has acquired PowerObjects, a US based provider of Microsoft Dynamics Customer resource management solution, for $46 Million, to bolster its offerings in the applications development space. Together HCL and Power Objects will now offer one of the largest Microsoft Dynamic Practices in North America.

Based in Minneapolis, PowerObjects has more than 250 employees who will now be transferred to the rolls of HCL. The total consideration for the transaction includes contingent payments which are subject to certain financial milestones. The existing leadership team of PowerObjects will remain in place and no workforce changes are planned.

HCL has been on an acquisition spree of mostly small companies. PowerObjects is the fourth company it has bought this year. This week, HCL would buy Swedish automaker Volvo Group’s External IT business, which provides IT Infrastructure, mainframe services and application operation services, for an all-cash payment of $138 Million.

Microsoft Dynamics is one of the fastest growing CRM products. Research firm Gartner expects CRM to become a $36 Billion Worldwide market by 2017 growing at an annual rate of 13.3% since 2014. It is projected to grow faster than any other enterprise software category, as businesses look to build upon term customer relationships.