M&A Advisory - selling a business
Abacus
FRP Corporate Finance advises Software as a Service (SaaS) provider Abacus Software on its sale to US firm Naviga. Background Operating from offices in London and Portsmouth, Abacus’ SaaS offering provides a unique proprietary Customer Data Platform (CDP) and Digital Experience Platform (DXP). In 2013, private equity investor BGF backed Abacus, and has since provided close to £4 million of growth capital, enabling the business to increase its sales and marketing activity, accelerate product development and expand into new markets including B2C publishing, professional institutions, and events. Action BGF appointed FRP Corporate Finance to lead the sales process and find a suitable buyer for Abacus and its 50-strong team. Recognising the opportunity for Abacus to catch the attention of strategic international players. the FRP team created a compelling value proposition highlighting technical capabilities, growth opportunities and attractive financial characteristics to demonstrate its future growth trajectory to overseas buyers. Outcome The sale generated significant interest from overseas acquirers, seeking high value niche platforms that solve a problem in a specific vertical and can be integrated as a new solution alongside an established service. Terms were agreed with Minnesota- based Naviga – a leading provider of software and services powering media-rich industries, with 3,000+ clients including Apple TV, Disney, The Telegraph and Sky across 45 countries. The transaction provided Abacus with the opportunity to join a premier global organisation to help accelerate the innovation and value it provides to its customers, whilst providing Naviga with the opportunity to expand their footprint across Europe. The combined business is now better placed to provide Naviga’s growing global customer base with opportunities to grow engagement and revenue with personalised digital experiences and offers.
James Mines Partner Corporate Finance London West End, Reading +44 (0)7876 541 840 james.mines@frpadvisory.com
It has been a pleasure working with FRP Corporate Finance. They have built a strong relationship with the different stakeholders in the transaction and worked tirelessly to the end to complete the deal.
Ben Lowe Senior Manager
Corporate Finance London West End +44 (0)7425 286 455 ben.lowe@frpadvisory.com
William Gresty BGF
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