Biggest technology acquisitions 2020

We round up the biggest technology industry mergers and acquisitions of the year so far

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AppSheet was founded by Praveen Seshadri and his old Cornell student Brian Sabino in 2014 and had secured a modest $18.5 million in funding to date, so it is safe to assume this wasn't a blockbuster acquisition by the cloud vendor but it does fit with the company's broader desire to democratise application development.

"We are philosophically and strategically aligned with Google Cloud in a shared commitment to a no-code platform," AppSheet CEO Praveen Seshadri wrote in a blog post. "The AppSheet platform has been live for more than five years. As we’ve matured, so has the IT industry, and there is now a tremendous pent-up demand for enterprise automation. With the rise of low- and no-code platforms, citizen development has emerged as the strategic way for modern organisations to invest, innovate, and compete."

13 January: Visa to acquire Plaid for $5.3 billion

Payments giant Visa has announced that it will be acquiring the fintech startup Plaid for $5.3 billion in cash.

The San Francisco-based startup has built what is essentially an identity layer which can seamlessly link together customer's bank accounts with popular fintech apps like TransferWise or Venmo via a set of secure APIs.

The $5.3 billion price tag will raise some eyebrows as it represents a steep premium on its last private valuation of nearer $2.65 billion, following a $250 million Series C funding round in December 2018, of which Visa and its rival Mastercard were also investors.

“Plaid’s mission is to make money easier for everyone, and we are excited for this opportunity to continue delivering on that promise at a global scale,” said Zach Perret, CEO and co-founder of Plaid in a statement. “Visa is trusted by billions of consumers, businesses and financial institutions as a key part of the financial ecosystem, and together Visa and Plaid can support the rapid growth of digital financial services.”

9 January: Insight Partners to acquire Veeam for $5 billion

Private equity firm Insight Partners announced that it is purchasing the Swiss data management specialist Veeam for approximately $5 billion in January. Insight had invested $500 million in the firm last year.

Under Insight the vendor will become a US company under the leadership of new CEO William Largent, having previously held the role of executive vice president of operations. Danny Allan has also been promoted to CTO from vice president of product strategy.

“Veeam has enjoyed rapid global growth over the last decade and we see tremendous opportunity for future growth, particularly in the U.S. market. With the acquisition, we are excited that our current U.S. workforce of more than 1,200 will be expanded and strengthened to acquire and support more customers,” Largent said in a statement. “Veeam has one of the highest caliber global workforces of any technology company, and we believe this acquisition will allow us to scale our team and technology at an unrivalled pace.”

7 January: Appian acquires RPA vendor Novayre Solutions

Low-code app development specialist Appian announced its first ever acquisition, snapping up Spanish robotic process automation (RPA) specialist Novayre Solutions SL in January for an undisclosed amount.

Essentially Appian wants to combine its low-code development capabilities with the ability to program software bots to automatically complete simple business tasks in one platform.

Read next: Appian CEO Matt Calkins: openness is the way to go

“Appian is extending our lead in low-code automation by adding RPA,” said Appian CEO Matt Calkins in a statement. “Together, the products enable end-to-end process orchestration where humans, software robots, and AI all work together in a coordinated way.”

7 January: Accenture acquires Symnatec's Cyber Security Services business from Broadcom

Professional services giant Accenture agreed to acquire Symnatec's Cyber Security Services business from Broadcom for an undisclosed amount in January. That business unit and its 300 employees will be folded into Accenture's own security practice, including its global threat monitoring and analysis capabilities, its global network of security operation centres and various threat intelligence and incident response services.

“Cybersecurity has become one of the most critical business imperatives for all organisations regardless of industry or geographic location,” said Julie Sweet, Accenture’s CEO in a statement. “With the addition of Symantec’s Cyber Security Services business, Accenture Security will offer one of the most comprehensive managed services for global businesses to detect and manage cybersecurity threats aimed at their companies.”

This also marks the latest in a recent spate of acquisitions by Accenture in the security space, including Deja vu Security, iDefense, Maglan, Redcore, Arismore and FusionX.

6 January: Insight Partners acquires Armis

Just three days before snapping up Veeam, Insight had already put pen to paper on the $1.1 billion acquisition of Israeli cybersecurity firm Armis. Google's capital arm CapitalG is also contributing $100 million to the deal, as well as some existing stockholders. The startup had raised $112 million to date, with Insight being a previous investor.

Founded in 2015 by Yevgeny Dibrov, Tomer Schwartz, and Nadir Izrael and now based in California, the vendor specialises in "agentless" IoT security, allowing enterprises to manage and control their device fleets securely. Dibrov and Izrael will continue to lead the company under Insight's ownership as CEO and CTO, respectively.

Dibrov said in a statement: “Insight is one of the most sophisticated software investors in the sector, and it is due to the depth of their domain expertise that they really understand the enterprise IoT device challenge we are looking to solve, and the size of the market opportunity. We considered growth rounds and strategic offers, but by partnering with Insight we have the best of both worlds - operational support and independence, both of which were important in our decision to take on a scaleup partner this early in our company journey.”

Read next from CSO.com: 10 biggest cybersecurity M&A deals of 2019

Copyright © 2020 IDG Communications, Inc.

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