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Jacobs buys StreetLight Data
Aiming to expand its digital solutions portfolio, professional services firm Jacobs has made a new acquisition.
The Dallas-based company announced acquiring San Francisco mobility analytics startup StreetLight Data for an undisclosed amount.
According to the company, StreetLight’s technology collects location data from things like cell phones and vehicles to help municipalities and companies make mobility and infrastructure decisions. Per Crunchbase, StreetLight has raised more than $44 million since launching in 2012, most recently with a $15 million Series D round in 2020.
The move follows Jacobs’ acquisition of edge and cloud computing software company BlackLynx in November.
“There is a global need for solutions that help us better understand the movement of people, goods, and services while addressing broader societal challenges,” said Steve Demetriou, Jacobs chair and CEO (above), in a statement.
⟫ Dallas tech services provider Qentelli has scooped up New Jersey-based business solutions firm NCS Technologies. Terms of the deal were not disclosed. According to the Dallas Business Journal, the move will help Qentelli scale its digital transformation offerings, while adding to its digital IP and client portfolio. Sanjay Jupudi (above), president and founder at Qentelli, sees the deal as a game-changer: “The time is now to accelerate, innovate at a never before pace and this acquisition will help do just that,” he said in a statement.
⟫ Dallas’ Legacy Knight Capital Partners, the growth equity arm of Legacy Knight Multifamily Office, led a $240 million Series B funding round for Austin-based e-commerce startup Cart.com. That brought the company’s total to $380 million since launching in 2020. Citi Ventures, Visa, J.P. Morgan, and TriplePoint Capital joined the round. In January, fast-growing Cart.com acquired Dallas-based FB Flurry, which uses advanced tech to support “high-SKU” clients.
⟫ Richardson-based M&A advisory firm Generational Group, which had a “blockbuster year” in 2021 with “a record 172 deals closed,” is adding tech consulting to its suite of services. The firm acquired a majority stake in Dallas-based Precocity, a tech-based consultancy. “Whether they are looking to grow or eventually exit, we recognize the major role technology plays in building a successful business, said Ryan Binkley, president and CEO of Generational. Together with Precocity, Binkley says, “we’re confident that we will build the leading middle-market technology consulting practice.” Generational said it plans to retain all of Precocity’s executive staff and 30-person team. Generational is also planning to expand its headquarters to accommodate the growth, according to the Dallas Business Journal. Precocity, whose services include cloud solutions, mobile development, and software engineering, counts Toyota, Nokia, and Cisco among its clients. Binkley told the DBJ its consulting service sees around $10 million in revenue, a number he expects to grow by between 20% and 30% annually. Terms of the deal were not disclosed.
⟫ Garland-based TouchPoint 21 was acquired by PAI, a Brink’s company. TouchPoint has expertise in ATM-as-a-Service, which can support financial institutions in their growth and retail branch transformation.
⟫ Plano-based private equity firm Willis & Smith Capital, along with its affiliates, has acquired Wisconsin machined components manufacturer R&B Grinding. Financial terms were not disclosed. As part of the deal, Willis & Smith operating partner Gene Simon will take over as CEO of the 100-person company.
Kevin Cummings and Quincy Preston contributed to this report.
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