Seattle, WA, Aug. 17, 2018 (GLOBE NEWSWIRE) -- Corum Group, the leading M&A advisory firm for software and related technology companies, today announced that its client, Exaktime, has received a majority investment from Providence Strategic Growth, the growth equity affiliate of Providence Equity Partners. Exaktime is the leader in digital time and attendance solutions for construction and field services.
ExakTime has been providing innovative workforce management solutions for construction and field services companies of all sizes since 1999, and now serves over 7,000 customers and 250,000 users daily. The company equips businesses with a GPS-enabled app for field-based time and activity tracking and compliance verification, plus cloud-based software and direct syncing with accounting and payroll programs. Exaktime is joining a new platform company created by Providence Strategic Growth, Arcoro, Inc.
“ExakTime is very proud to be joining the group of businesses under the Arcoro Inc. umbrella," said John O'Hara, president and CEO of ExakTime, “and we are grateful to Corum Group for the diligence, persistence, and insight they showed throughout the process, ensuring that we came together with the right partner.”
“ExakTime has consistently maintained industry leadership in time and attendance management for over twenty years," says Providence Strategic Growth Managing Director Gopi Vaddi. "There is no better testament to their deep commitment to customer-centric product innovation, and to the human capital software marketplace. We are excited to partner with the ExakTime team.”
“The ExakTime team has put together a market-leading SaaS solution and a strong company, and we are very pleased to have been a part of bringing them together with a partner who will take them to the next level,” said Corum Group Senior Vice President Rob Schram, who led the deal.
Schram and other Corum dealmakers will share more about the Exaktime investment and other recent deals completed by Corum Group at the Tech M&A Monthly Webcast on September 13, 2018. The webcast, attended by hundreds of technology company CEOs, owners, investors and acquirers, will also include the monthly Corum Tech M&A Research Report and a special report on “What to Do When You Are Approached,” helping tech CEOs understand the best ways to respond to overtures from potential acquirers.
About Corum Group
Corum Group is the global leader in merger and acquisition services, specializing in serving sellers of software and Internet companies worldwide. With offices globally, Corum has completed over US $7 billion in software M&A transactions over the last 30 years, spanning six continents. Corum also educates the industry with its popular conferences and publishes the most widely distributed software M&A research. Corum's M&A advisors are highly experienced former tech CEOs, who are supported by the industry's leading researchers, writers and valuators. Corum also does much to educate the industry with its conferences and webinars and the industry's most widely distributed software and IT M&A research.
About ExakTime
Founded in 1999, ExakTime is the 20-year leader in time and attendance tracking for construction and field services and the #1-selling system in North America. ExakTime's cloud-based wireless, mobile, and rugged timekeeping solutions are easy to implement and use for any size company. Accurate digital time tracking and convenient payroll syncing streamlines operations, saving businesses time and money and ensuring they remain compliant. Easy access from any location and powerful reporting provide the insights businesses need to effectively manage their growing workforces. ExakTime is used daily by more than a quarter million workers from dozens of industries in more than 20 countries.
About Providence Strategic Growth
Providence Strategic Growth Capital Partners L.L.C. ("PSG") is an affiliate of Providence Equity Partners L.L.C ("Providence"). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies, primarily in North America. Providence is a premier, global asset management firm with $50 billion in capital under management across complementary private equity and credit businesses. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm's inception in 1989, Providence has invested in more than 150 companies and is the leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, R.I., and has offices in New York, London, Hong Kong, Singapore, and New Delhi.