As Digi Draws Bids, CEO Seeks More Time To Work Strategy

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screen-shot-2016-12-04-at-3-59-04-pmBy Neal St. Anthony, Star Tribune

“Since he was hired two years ago, Digi International CEO Ron Konezny has received good marks for streamlining the company, jettisoning a business that didn’t fit, putting resources behind fast-growing products and widening the operating profit margin.

The stock price at the Minnetonka connected device maker rose from about $7 per share two years ago to more than $12 at times.”

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Q&A With Perforce CEO Janet Dryer on the Seapine Acquisition

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By Arnav Joshi

Perforce Software moved corporate headquarters from California to Minnesota over the summer as former HelpSystems CEO Janet Dryer took the CEO role.

Formed in 1995, the company specializes in version management and collaboration software for the enterprise, now with 300 global employees across six offices.

With backing from PE firm Summit Partners Perforce acquired Ohio-based Seapine Software earlier this month; Dryer expanded on the deal for us thanks to our M&A underwriter Franklin Partners.

Franklin Partners

How did you get to know Seapine and what was the primary appeal?

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The Datalink Deal That Almost Wasn’t

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By Michael Novinson, CRN

screen-shot-2016-11-07-at-9-39-52-amDatalink could have sold the company for $17 million more, but its lackluster financial results scared one prospective suitor away and prompted Insight Enterprises to cut its offer price.

Tempe, Ariz.-based Insight, No. 15 on the CRN Solution Provider 500, made Eden Prairie, Minn.-based Datalink, No. 43 on the CRN SP 500, work hard for a deal. Insight cut the transaction amount by $17 million and required what Datalink considered to be unusually high levels of financial transparency, according to SEC filings.”

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LeagueSafe Bought By SportsHub

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Via News Release

screen-shot-2016-11-21-at-7-47-39-am“MINNEAPOLIS, Nov. 21, 2016 — In a move that greatly enhances its position as a full-spectrum provider of fantasy sports products and services, SportsHub Technologies, LLC announced today that it has acquired LeagueSafe, LLC, a Minnesota-based company that offers fantasy players the most trusted online payment solution for collecting and protecting fantasy dues.”

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Minneapolis HQ Perforce Software Buys Seapine Software In Ohio

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screen-shot-2016-11-17-at-7-59-43-amVia News Release

“MINNEAPOLIS, Nov. 17, 2016 /PRNewswire/ — Perforce Software, a leader in version control and source code management, today announced its acquisition of Seapine Software, a leading provider of application lifecycle management (ALM) solutions, based in Mason, Ohio.”

 

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DIGI International Receives (And Rejects) $380m Buyout

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By Evan Ramstad, Star Tribune

screen-shot-2016-11-08-at-1-31-33-pm“Belden Inc. late Friday revealed a $380 million offer to buy Digi International Inc., a Minnetonka-based maker of telecommunications equipment, and said it went public after being turned down by Digi earlier this week.

Belden, a St. Louis-based firm that also makes telecom equipment, said the product portfolios of the firms meshed with each other and noted that the companies have collaborated together in the past.”

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Q&A With Digi International On The Fresh Temp Acquisition

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screen-shot-2016-11-08-at-1-31-33-pmBy Arnav Joshi

Minnesota’s M2M/ IoT firm Digi International found a strategic acquisition last week in FreshTemp — a Pittsburgh, PA, provider of commercial food kitchen solutions.  Digi International COO Kevin Riley expanded upon the deal below:

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How did Digi and FreshTemp meet?

FreshTemp has been a long-time Digi customer, so we have worked with the team since FreshTemp’s early years. Digi sees the cold chain and food industry as a key growth area and one that can take greater advantage of wireless sensor networking and IoT capabilities. As such, we’re heavily involved in the industry and FreshTemp was a company we knew had a leadership position in the US.

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Eden Prairie IT Firm Datalink Purchased By Insight Enterprises For $258 Million

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screen-shot-2016-11-07-at-9-39-52-amVia News Release

“TEMPE, Ariz. & EDEN PRAIRIE, Minn.– Insight Enterprises (Nasdaq:NSIT), an Intelligent Technology Solutions™ provider (“Insight” or “the Company”), and Datalink Corporation (Nasdaq:DTLK), a leading provider of IT services and enterprise data center solutions (“Datalink”), have entered into a definitive merger agreement under which Insight will acquire Datalink for $11.25 per share in cash, representing a 19% premium to Datalink’s closing share price on November 4, 2016. The transaction implies an equity purchase price of approximately $258 million and an enterprise value of approximately $196 million (net of cash and debt acquired).”

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