Across North Texas, companies are promoting and hiring people to take on leadership positions within their organizations. Dallas Innovates covers prominent personnel moves in Dallas-Fort Worth businesses and nonprofits—from the newest startups to well-established companies. Here are the moves tied to innovation and technology in the region.
TPG raises $12B toward flagship fund, nears $14B goal
TPG, a Fort Worth and San Francisco-based private equity firm co-founded by Fort Worth billionaire David Bonderman, has raised roughly $12 billion for it most recent flagship buyout fund, as well as a pool that will invest in a healthcare deal, according to a report from Bloomberg.
The business news agency reported that the funding draws TPG closer to its $14 billion goal, while surpassing the $10.5 billion raised in 2016 for its previous fund.
Bloomberg said that TPG is benefiting from a robust private equity fundraising market. TPG manages more than $94 billion across its various strategies, which include buyouts, growth equity, credit, hedge funds, and real estate.
Cypress Growth Capital invests $2M in Rehearsal
Dallas-based Cypress Growth Capital has invested $2 million in Rehearsal, a Reno, Nevada-based platform that offers video sales enablement and coaching.
“Results are tangible and measurable. It’s a modern tool that fosters sales performance, collaboration, and motivation.”
“Rehearsal offers a high-ROI and practical solution for a host of training needs, especially sales training and enablement,” Cypress Growth Capital Partner Vik Thapar said in a statement. “Results are tangible and measurable. It’s a modern tool that fosters sales performance, collaboration, and motivation.”
Rehearsal said the funding will be used to aggressively expand its global sales and marketing efforts and to broaden and accelerate product development.
Formed in 2010, Cypress Growth Capital calls itself is the largest and most experienced royalty-based growth capital investor in the United States.
MERGERS & ACQUISITIONS
Pizza Hut enhances its digital ordering capability with QuikOrder acquisition
Plano-based Pizza Hut has acquired Chicago-based QuikOrder, an online ordering platform, with the aim of bolstering its digital order capabilities.
Terms of the deal were not disclosed, but National Restaurant News said it’s the latest in a series of technology moves within the very competitive pizza delivery space—led by Pizza Hut and its major rival, Domino’s.
What’s included in the deal? Pizza Hut’s current digital ordering platforms, systems, and services, as well as QuikOrder’s in-restaurant technology and all future generations of products and programming.
“We’re doubling down on our commitment to digital and this deal positions Pizza Hut perfectly for the future,” Pizza Hut U.S. President Artie Starrs said in a statement. “We’re also gaining access to an immensely talented group of developers and digital innovators. Together we can more quickly provide breakthrough products and convenient services to our customers that will allow for better franchise economics over the long term.”
Ryan acquires Denver-based transfer pricing advisory firm
Dallas-based global tax services and software provider Ryan announced that has acquired Denver-based Economics Partners, a leading provider of transfer pricing advisory, controversy, and business valuation services.
“We are experiencing a growing global demand for transfer pricing and valuation services, which is being driven by an ever-increasing scrutiny on intercompany transactions in most jurisdictions throughout the world.”
G. Brint Ryan
Ryan said the acquisition will accelerate the growth of Ryan’s International Tax practice, and brings several notable multinational corporations to Ryan’s client portfolio.
“We are experiencing a growing global demand for transfer pricing and valuation services, which is being driven by an ever-increasing scrutiny on inter-company transactions in most jurisdictions throughout the world,” Ryan Chairman and CEO G. Brint Ryan said in a release.
“Our International Tax practice is in a stronger position now to provide our clients with an integrated suite of global tax services. Economics Partners’ expertise in transfer pricing is unequaled in the industry,” Ryan said.
Aspira acquires campground management software provider
Dallas-based campground management and reservation software provider Aspira announced that it has acquired Mission Management, the provider of the Astra and Campground Manager software platform.
No financial terms of the deal were released.
“This move allows us to bring greater resources, expertise and systems to both the private and public campground markets.”
With the addition of Mission Management, Aspira said it now offers an enhanced technology platform with specific systems designed to meet the needs of large, multi-unit campground networks, along with individually operated RV parks and campgrounds.
“Aspira’s investment in Mission Management reaffirms our position as the leading provider of campground reservation and management software in the outdoors industry,” Aspira CEO Mark Trivette said in a statement. “This move allows us to bring greater resources, expertise and systems to both the private and public campground markets.”
D.R. Horton buys Iowa homebuilder in $60M acquisition
D.R. Horton, the Arlington-based homebuilder giant, said that it has acquired Des Moines, Iowa-based Classic Builders in a deal valued at $60 million.
D.R. Horton operates in 83 markets across 28 U.S. states. Horton said the acquisition will expand its footprint in the Midwest.
By adding Classic Builders to its family, D.R. Horton gained 670 lots, 130 homes in inventory, and 40 homes in sales order backlog. D.R. Horton also took control of 550 lots through option contracts.
Classic Builders will operate as a separate division under the D.R. Horton group, the company said.
Accenture acquires Houston-based Enaxis Consulting
Accenture, which has a major presence in Dallas, has acquired Enaxis Consulting, a Houston-based management consulting firm with deep experience in digital capabilities, data science, and agile project delivery in upstream oil and gas, oilfield services, and the airline industry.
Enaxis Consulting has a presence in Dallas, with roughly 10 of its 75 employees working here. All of those employees will join Accenture, the company said. Accenture said the acquisition will further its focus on helping clients innovate.
Accenture said that the employees who serve oil and gas clients are now part of Accenture’s North American energy practice in the Resources Operating Group. The airline team of Enaxis will be apart of Accenture’s Products Operating Group.
Enaxis customers include Fortune 100 and Fortune 500 companies. It consults with chief information officers, chief technology officers, chief digital officers, and other company leaders on the implementation of emerging digital technologies and business operating models.
ECi Software acquires Canadian device, print management firm
Fort Worth-based ECi Software Solutions said it has acquired a Canadian company that provides device and print management solutions globally.
ECi, a cloud-based business management solutions company, said it acquired Print Audit, whose product suite includes tools for managed print services (MPS), device data collection, and document management for both dealers and users.
ECi said that Print Audit will become part of its Field Service Division, and the team will report to its Field Service President Laryssa Alexander. Print Audit was founded in 1999 and is headquartered in Calgary, Alberta, Canada.
Updated Dec. 8, 2018: The spelling of Vik Thapar’s name has been corrected.
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