Acquisitions of Element34 and Clockwork IT observe the introduction of a devoted UK and European M&A workforce, led by North West-based mostly director
Main international operator and long-term software program investor Banyan Software program introduced on Wednesday its first two offers following the corporate’s latest funding in a devoted and domestically based mostly UK and European workforce.
Banyan, which relies within the US and focuses on buying, constructing and rising profitable enterprise software program companies, has acquired specialist software program suppliers Element34, headquartered in Lachen, Switzerland, and Clockwork IT, based mostly in Coventry.
Element34’s flagship product, SBOX, permits enterprises to check the performance of their net and cell purposes throughout a number of browsers and cell units at scale.
Clients embrace authorities organisations, international model homeowners and a number of main European banks and insurance coverage firms.
Michael Palotas, co-founder of Element34, mentioned: “We’re delighted to be asserting this acquisition with Banyan, who we see as the best accomplice for Element34’s future success. Their distinctive ‘purchase and maintain for all times’ technique allows them to take a long-term view with a purpose to maximise the potential for the firm. Their workforce’s experience in scaling B2B software program companies globally was evident from the outset and we’re actually excited to be working with them within the coming years.”
The Element34 acquisition follows the acquisition of Clockwork IT, bringing the Banyan UK and European headcount to roughly 100 full-time staff.
Based in 2003, Clockwork IT delivers discipline service administration software program that helps maximise the effectivity and productiveness of hundreds of distant employees throughout the UK.
Their core platform, Complete CTRL, contains dynamic scheduling instruments, cell app connectivity, an built-in CRM system and automatic billing capabilities.
Steve Adams, founding father of Clockwork IT, mentioned: “It was paramount for me to seek out the appropriate accomplice to assist and drive Clockwork’s long-term success. We’re delighted to have discovered that in Banyan. The precious insights and experience that the workforce can convey is already clear to us, and we’re excited to be concerned with the following chapter of Clockwork’s progress.”
Given the robust pipeline of enterprise software program companies all through the UK and Europe, Banyan — certainly one of North America’s quickest rising non-public firms and ranked tenth in Deloitte’s 2021 Know-how Quick 500 — is accelerating plans to additional increase its M&A workforce.
UK and European M&A director at Banyan Software program, mentioned: “It was clear to us that there’s a wealth of alternative to accomplice with main B2B software program companies within the UK and Europe, which led Banyan to put money into a devoted workforce on the bottom earlier this 12 months.
“Now, having closed two acquisitions inside weeks of one another, it is a testomony to the worth that our domestically based mostly funding workforce can convey. We’re delighted to welcome Element34 and Clockwork IT to the Banyan group, and we’re excited to construct on our acquisition technique in 2023.”