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Banyan acquires RinkNet
Posted on Friday, 06 November 2020 11:29
Banyan Software has picked up US-based RinkNet Marketing, a provider of scouting and player management services for hockey teams and organisations worldwide.
No financial details were disclosed.
Formed in 1998, RinkNet provides hockey teams, leagues and related organisations with access to daily updated rosters, schedules and player information.
Its technology allows customers to rank, analyse and obtain records from more than 250,000 players in the company’s system.
RinkNet’s offerings are used by all 32 National Hockey League teams, as well over 200 amateur groups and associations throughout North America.
David Berkal, chief executive of Banyan, said: “Our focus on growing software businesses that serve specialty markets will prove advantageous for the RinkNet team as they continue their mission to provide market-leading solutions to their customers.”
According to Zephyr, the M&A database published by Bureau van Dijk, the deal represents the buyer’s third acquisition since 2019.
In February 2020, it purchased California-headquartered line cloud-based independent study and online school educational software-as-a-service provider School Pathways.
The group also bought Florida-based vCreative in May 2019. No financial details were disclosed for either transaction.
Established in 2016, Banyan focuses on acquiring, building and growing enterprise software businesses throughout the US and Canada.
The company is headquartered in Georgia and has around ten employees on its books.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 2,227 deals targeting custom computer programming services providers announced worldwide since the beginning of 2020, compared to the 2,604 transactions signed off for the corresponding period of 2019.
The most valuable of these took the form of an acquisition and involved Worldline agreeing to buy France-based Ingenico Group for EUR 7.84 billion.
In the second-largest deal, a consortium of investors, including Symphony Technology Group, Ontario Teachers' Pension Plan Board and Alpinvest Partners, snapped up RSA Security for USD 2.08 billion.
© Zephus Ltd