Smartsheet’s strong growth, profitability, and cash flow have attracted private equity interest, leading to potential acquisition talks. This could benefit investors, with a potential 10% gain even if the deal doesn’t go through. The company continues to see strong growth in revenue and client base, with impressive margin expansion and record cash flow.
Travelsoft, a global leader in travel software, has announced the appointment of Mike Wright as the new CEO of its portfolio company, The Atcore Group. Wright brings over two decades of experience with Atcore and will lead the company into its next phase of growth and innovation.
Orange Tiger Hospitality, a Mumbai-based hotel management firm, saw a 7% increase in direct bookings after implementing Simplotel’s e-commerce solutions, including the Simplotel Website Builder and Booking Engine. This partnership has boosted OTH’s online business and provided a user-friendly booking experience for guests.
Fuji Dream Airlines, a leading Japanese regional carrier, has partnered with IBS Software to modernize its operations by migrating to a cloud-based platform. This strategic move not only enhances operational efficiency but also demonstrates a commitment to cutting-edge aviation technology and innovation.
BofA Securities analyst Tal Liani reiterated his Buy rating on CrowdStrike Holdings, Inc. (CRWD), citing the company’s strong positioning in endpoint security and long-term growth opportunities. While the recent global outage has impacted near-term growth, Liani believes CrowdStrike’s efforts to retain customers through discounts and other incentives will mitigate the damage. He also noted potential long-term pricing headwinds from increased competition and customer pressure.
Journey Mentor, a leading travel-tech SaaS provider, has partnered with Total Air Services (TAS), a prominent aviation services provider in Bangladesh, for a 5-year deal to deliver cutting-edge travel technology solutions. This collaboration aims to enhance operational efficiency, expand market reach, and boost customer experiences in the rapidly growing Bangladeshi travel sector.
Freshworks, a publicly-listed SaaS firm, has acquired U.S.-based startup Device42 for $230 million. Alongside the acquisition disclosure, Freshworks revealed that founder Girish Mathrubootham has stepped down as CEO and will become executive chairman. Dennis Woodside, previously CEO of Motorola Mobility, will take over as the new CEO.
Device42 helps companies manage their IT infrastructure and provides insights into their systems. It recently began offering carbon emissions tracking. Freshworks believes Device42’s capabilities will strengthen its Freshservice offering.
The acquisition, Freshworks’ first since becoming a public company in 2021, is expected to close later in Q2.
Mathrubootham, a key figure in India’s SaaS growth story, will continue to serve on Freshworks’ board. Shares of Nasdaq-traded Freshworks fell 25% after the markets closed, potentially erasing about $1.4 billion from the firm’s market cap.
Despite the CEO transition, analysts remain optimistic about Freshworks’ growth prospects, citing Woodside’s strong track record and the company’s continued optimism about the adoption of its AI-powered solutions.
MARK-PILOT, a leading provider of SaaS solutions for market-based spare parts pricing in the manufacturing sector, has secured a significant Series A funding round led by global software investor Insight Partners and existing investor Capnamic. The funds will fuel the company’s expansion in the US and strengthen its position as a global player in the manufacturing market. With its innovative PRICERADAR and PRICEGUIDE solutions, MARK-PILOT empowers manufacturers to maximize revenue, margins, and customer loyalty through transparent market pricing data. The company’s success has attracted the attention of top industry investors, demonstrating the viability of its business model and the significant impact it is making in the manufacturing industry.
