We get software deals done.
We have sourced 85 software acquisitions and investments for our partners.
Australia
Land and Expand Tuck-In
Company: Australian founder owned HR compliance tech-enabled business
Investor: UK-based HRTech PE Platform
Enterprise Value: $65M
Revenue Multiple: 3x
Deal Summary: Our client identified Australia as a strategic geography for expansion. Needed a sizable sub-platform with back-able team in region to buy up and integrate other assets. No banker, company not for sale.
North America
Growth Equity Investment
Company: Hyper-growth VC-backed MarTech business
Investor: Growth Equity firm
Enterprise Value: $150M
Revenue Multiple: 10x
Deal Summary: CEO was not looking for an investment, his syndicate was leaning in and ready to finance the next round if and when needed. RZ shared our client’s value add, and introduced the CEO to our client. Our client invested 30 days later.
US/UK/Australia
Two Tuck-Ins
Company: Two founder owned companies in UK and Australia each with half the IP for a marketing solution to law firms
Investor: US-based LegalTech PE Platform
Enterprise Value: $30M
Revenue Multiple: 3.5x
Deal Summary: The two companies had been partners, delivering a complete solution together. Bid on both targets, closed simultaneously. No sell-side banker.
DACH Region
Take Private
Company: Austrian small-cap software company traded on the Frankfurt exchange
Investor: Software holding company
Enterprise Value: $40M
Revenue Multiple: 1x
Deal Summary: Four institutional shareholders with controlling interest hired banker to seek exit; depressed multiple, no credible plan for growth or profile. Complex process navigating securities, corporate and labor laws across two DACH countries.
North America
Complex Divestiture
Company: Publicly traded mid-cap software company
Investor: Software holding company
Enterprise Value: $60M
Revenue Multiple: 1x
Deal Summary: Seller disposed of several non-core software assets. Used proceeds for share buy back. Divested assets did not include any management or back office infrastructure.
North America
Acquisition
Company: Venture-backed enterprise search solution for Sharepoint
Investor: Publicly traded strategic acquirer
Enterprise Value: $34M
Revenue Multiple: 4x
Deal Summary: RZ tracked company for three years. Rejected multiple offers from PE firms, only interested in strategic. Proprietary deal.
North America
Minority Investment
Company: AI-powered sales enablement & talent intelligence solution owned by an offshore consulting company
Investor: Growth Equity Firm
Post-Money Value: $130M
Revenue Multiple: >10x
Deal Summary: Four Co-Founders incubated a best-in-class Enterprise AI platform and sought to spin out of the parent consulting company. Recapped and successfully spun out with a minority growth investment.
North America
Search Fund Platform
Company: EdTech / GovTech digitization + records management software
Investor: Software Search Fund
Enterprise Value: $45M
Revenue Multiple: 3x
Deal Summary: Acquired two independent software companies with an investment thesis based on integrating, realizing synergies, and professionalizing management. Unbanked process with complex ownership structure.
W. Europe
Divestiture
Company: Spin out of test management tool from European services company
Investor: US-based PE platform company
Enterprise Value: $270M
Revenue Multiple: >10x
Deal Summary: Proprietary deal, made three bids over two year period. Ultimately acquired one of the fastest growing tools on the market. Highly strategic addition to client product portfolio.
DACH Region
Acquisition
Company: Majority founder-owned, GRC solutions provider
Investor: PE Portfolio company
Enterprise Value: $48M
Revenue Multiple: 10x
Deal Summary: SaaS GRC business in hot sector. Proprietary deal sourced via RZ market mapping of the space. Strong strategic fit and management team. Post-transaction, team is now leading all of GRC business inside parent company.
North America
Acquisition - New Pillar
Company: Venture-backed data lake platform
Investor: Strategic acquirer
Enterprise Value: $70M
Revenue Multiple: 2x
Deal Summary: RZ established new product pillar for client with the acquisition. No process, but target had banker run a market check before going exclusive with our client. Closed deal 6 months after initial contact.
DACH Region
Tuck-In Acquisition
Company: Bootstrapped, founder lead API Marketplace
Investor: Strategic acquirer
Enterprise Value: $28M
Revenue Multiple: 7x
Deal Summary: RZ learned of process from sell side banker who was not aware of RZ client. Closed 45 days after initial call with founders.