How do you solidify your ranking as an industry leader? One way is to acquire a company. No stranger to big acquisitions, NYC tech just made some big business deals that are shaking up the local startup scene. Check out some of the latest acquisitions.
Acquisition date: July 17
News: Certify, a cloud-based expense report management solution, acquired Abacus Labs, a real-time expense reporting solution on July 17. This move will help Certify compete with Concur, which is owned by SAP. The terms of the deal were not disclosed. Abacus has raised a total of $3.6 million in funding since being founded in 2013. [TechCrunch]
Acquisition date: June 29
News: AI solutions provider Fusemachines acquired Rake, a talent acquisition platform. Fusemachines will expand on Rake’s existing technology and make it part of its AI service offerings. As part of the deal, Rake’s executive team will join Fusemachine’s team. Additional terms were not disclosed. [Press release]
Acquisition date: June 21
News: Two dating services just made a match of their own: Match Group acquired a 51 percent ownership stake in NYC-based dating app Hinge, and it has the right to acquire the remainder by this time next year. This was a long time coming for the pair, as Match initially invested in Hinge back in September 2017. Terms of the deal were not disclosed. [Press release]
Acquisition date: June 19
News: News companies Cheddar and Need2Know made a deal to combine forces and reach a larger audience. Video news company Cheddar acquired daily newsletter Need2Know, and will incorporate the brand into its Cheddar Big News network. Other terms of the deal were not disclosed. [Cheddar]
Acquisition date: June 13
News: Office management platform Managed By Q acquired NVS, an office space planning service. Less than a year ago, Managed By Q acquired task management software provider Hivy, and this latest deal will help the company grow its portfolio even further. The NVS team plans to join the Managed By Q team as part of the deal. Other terms were not disclosed. [TechCrunch]
Acquisition date: June 11
News: WebMD acquired Jobson Healthcare Information. Jobson, which provides information, education and marketing services that reach more than 1 million health care professionals, will operate independently under the WebMD brand. Terms of the deal were not disclosed. [Press release]
