Carlyle, Vista strike deal for Providence Strategic Growth’s Tribute Technology, PJ SOLOMON’s Marc Cooper bullish on M&A regardless of election outcome, Coupa Software buys TPG’s Llamasoft for $1.5bn

Carlyle and Vista team up to buy Tribune Technology, while PJ SOLOMON's Marc Cooper remains optimistic on future M&A amid election.

Happy Wednesday, dear Tech Take readers!

It’s been a busy couple of days between the election and some big M&A announcements.

As many may wonder how the outcome of the presidential election will affect deal activity going forward, Marc Cooper, CEO of investment bank PJ SOLOMON, remains optimistic on M&A resilience.

“We believe that the election results will have a limited impact on M&A activity, with the fundamental driver of deal-making being the economy which we continue to be bullish on over the long-run, regardless of who is ultimately elected President,” Kooper said in a statement on Tuesday.

Do you agree, readers? Why or why not?

Death-tech

I came across this term just recently, but turns out, the intersection of death care, or funeral arrangements, and technology has commanded PE interest for a while now. One major participant in this category is Providence Equity, which has at least four active investments in this sector. One of them, Tribute Technology, has just traded hands.

Providence Strategic Growth has signed an agreement to sell the software-as-a-service platform for funeral arrangement services to Carlyle Group and Vista Equity, I learned this week.

Read my full story on PE Hub.

Over the weekend, Clearlake Capital unveiled the largest tech take-private of 2020 with its $3 billion acquisition Endurance International Group Holdings, a cloud provider for small- and medium-sized businesses.

Endurance is another play on the digitization trend that has accelerated through covid-19, offering Clearlake a new platform to build upon in the cloud space.

“The company outperformed expectations during covid – they are benefiting from smaller- and medium-size businesses wanting more of a cloud presence, wanting more cloud services, wanting more customer engagement and communication with the customers digitally,” a source familiar with the deal said. “They are hitting all the right trends that benefit from the move online.”

Read more.

That’s all from me for today.

With any tips, comments, suggestions, or just to say hello, write me at mvinn@buyoutsinsider.com.

Correction: This report has been updated with the correct spelling of Marc Cooper.