Return to search

Strattam Capital backs NEWSTOCK, Philips seeks buyer for Philips Lifeline, Churchill-sponsored SPAC strikes $1.3bn merger with Skillsoft

Philips is looking to divest Philips Lifeline and Churchill's SPAC agrees to merge with Skillsoft.

Happy Wednesday, Dear Tech Take readers!

NETSTOCK

Strattam Capital has backed NETSTOCK, a provider of inventory planning and optimization software for small- and mid-sized enterprises, Hilary Fleischer, partner at the Austin, Texas firm told me.

NETSTOCK helps its global customers manage over $15 billion of inventory and plan 100 million items per month. The software-as-a-service company has proven its resiliency during covid-19. In fact, NETSTOCK has created additional value to its clients by helping them navigate uncharted territory.

“The software is actually providing additional value because when there is an uncertain demand — like there is right now — the ability to best forecast what inventory you should hold is quite valuable,” Fleischer said. Read more.

Top Scoops
Med tech: Philips is looking to divest Philips Lifeline, whose medical alert systems help seniors at home summon help. Philips in 2006 acquired Lifeline for a total equity value of $750 million. Check out Sarah’s full report.

SPAC news: Churchill Capital Corp II, a blank check company formed by Churchill Capital, has agreed to merge with Skillsoft, a provider of digital learning and talent management solutions. The value of the deal is about $1.3 billion. Skillsoft will also buy Global Knowledge Training from Rhône Capital for about $233 million upon closing of the deal. Read our brief.

TMT hit
Yesterday was a big news day in tech. If you read my story on Macquarie’s layoffs you know what I am talking about.

What strikes me as especially unexpected is that, according to sources, at least six TMT bankers were laid off from the team at a time when the tech sector is booming with M&A activity, SPACs, and IPOs.

As we emerge from covid-19, tech is already showing signs of a fast recovery, and in many cases, is seen to benefit from the acceleration of digital transformation and a remote environment. If anything, tech has been the most lucrative and competitive area for both bankers and PE firms.

The names of all six members of the TMT team were not included in the story because they could not be formally confirmed. What we do know though is that David Dorfman, global head of TMT, who hired many of the Macquarie’s TMT team members to work for him, is going to be leaving.

Have a great day! If there are any names you’d like to add to the ongoing story at Macquarie, or with any other tips or feedback, reach me at mvinn@buyoutsinsider.com.