M&A wrap: FP, Genstar, HGGC, Insight, LLR, Silver Lake, TA, Vista

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Technology M&A is thriving, and private equity firms are hot on the trail of innovations that will drive sustainable value to customers and make companies more efficient, more effective and less expensive to run. Among the developments appealing to PE investors are: artificial intelligence, data management, data virtualization, digital marketing, healthcare IT, industrial automation, the Internet of Things, machine-to-machine learning, payment processing and Software-as-a-Service. To gain more insights into what kinds of tech deals will dominate the field in 2019, Mergers & Acquisitions reached out to 10 private equity firms that are active investors in technology: Francisco Partners, Genstar, Great Hill, HGGC, Insight, LLR, Riverside, Silver Lake, TA and Vista.

Related: 10 private equity firms share strategies for tech M&A.

Call for nominations
Nominations are due Feb. 8 for Mergers & Acquisitions' 12thAnnual M&A Mid-Market Awards, which will honor leading dealmakers and deals that set the standard for transactions in the middle market in 2018. CLICK HERE TO SUBMIT NOMINATIONS.

Related: Call for Nominations: 12th Annual M&A Mid-market Awards.

Deal news
Amazon.com Inc. (Nasdaq: AMZN) and Walmart Inc.’s (NYSE: WMT) grand plans for India were thrown into chaos on Friday after the country implemented new e-commerce regulations, which could cut their growth in the market by as much as half this year. Read the full story: Amazon, Walmart Reel as India curbs plunge market into chaos.

Blackstone Infrastructure Partners is buying a stake in energy infrastructure company Tallgrass Energy LP (NYSE: TGE) for $3.3 billion. Baker Botts is advising Tallgrass. Citi and Vinson & Elkins are advising Blackstone.

Tyler Technologies Inc. (NYSE: TYL) is buying MicroPact Inc., a business process management software provider the government sector, from Arlington Capital Partners for $185 million. Spurrier Capital Partners and Sheppard Mullin are advising MicoPact.

Duff & Phelps is buying claims and noticing and administrator Prime Clerk from the Carlyle Group (Nasdaq: CG). Prime Clerk offers claims administration services such as case filing and securities noticing. UBS Investment Bank, Goldman Sachs (NYSE: GS), Kirkland & Ellis and Skadden, Arps, Slate, Meagher & Flom LLP are advising the sellers. Paul, Weiss, Rifkind, Wharton & Garrison LLP is advising the sellers.

Periscope Equity has invested in digital marketing agency Power Digital Marketing Inc. New Century Capital Partners advised Power Digital.

For deal announcements, see The weekly wrap: Arlington, CACI, Sysco.

For more on PE fundraising, see PE fundraising scorecard: Arcline, Bow River, TPG.

Featured content
Consumerization of healthcare, high-deductible health plans, and more self-payment by patients are contributing to the overall increased demand for PT services, write Battery Ventures general partner Chelsea Stoner in this guest article: Rising demand for physical therapy drives deals.

Mergers & Acquisitions has named 36 leaders the 2019 Most Influential Women in Mid-Market M&A, including Kainos Capital's Sarah Bradley, Kayne Anderson Capital Advisors' Nishita Cummings and Pelham S2K Managers' Venita Fields. All 36 are outstanding dealmakers both inside and outside of their firms. This year, we asked the featured dealmakers to tell their own stories through Q&As, including their advice for women.

Related: Meet the 2019 Most Influential Women in Mid-Market M&A.

Mergers & Acquisitions asked leading dealmakers about their outlook for the middle market in 2019. Watch the video conversations, shot at ACG Philadelphia's M&A East: It is a seller's market, and deal activity is expected to remain steady, says Ramsey Goodrich of Carter Morse & Goodrich: Outlook 2019: Great time to sell. Private equity firms and strategic buyers will use their excess cash and capital to look for deals, says Bharat Ramprasad of Stifel Nicolaus: Outlook 2019: Excess capital to fuel M&A. Rising interest rates and regulatory changes may increase volatility, cautions Mark Emrich of Murray Devine: Outlook 2019: Keep an eye on rising interest rates.

Family-owned businesses require a lot preparation to sell to PE firms, says Carls Marks Advisors' Warren Feder. Watch the video: How to prep a family biz for sale to private equity.

Oddsmakers predict The New England Patriots and the Los Angeles Rams will deliver one of the closest, highest-scoring games in Super Bowl history on Sun. Feb. 3. Off the field, Patriots quarterback Tom Brady recently teamed with former Giants defensive end Michael Strahan, who is the co-host of ABC’s Good Morning America, to launch a sports media startup called Religion of Sports Media. Muhsin Muhammad, who played wide receiver for the Carolina Panthers and the Chicago Bears, is a managing director of private equity firm Axum Capital Partners. Steve Young, former San Francisco 49ers quarterback, is a co-founder of private equity firm HGGC. Check out: Patriots, Rams expected to score high in Super Bowl LIII. QB Tom Brady, others, build companies.

Events
ACG Atlanta is hosting Atlanta ACG Capital Connection at the Hotel at Avalon and Alpharetta Convention Center in Atlanta from Feb. 5-7. The allows dealmakers to network with PE firms, corporate development officers and mezzanine capital funds.

The SBIA and the AM&AA are hosting a Deal Summit at The Doral in Miami from Feb. 20-22. The event offers networking opportunities with senior-level M&A adviors and lower middle-market funds.

ACG New York hosts the 11th Annual Healthcare Conference at the Metropolitan Club in New York on Feb. 28. Dealmakers network with healthcare-focused private equity firms and other industry professionals.

ACG Minnesota and Corvus North are hosting AIM: A Women's Leadership Conference at the Minneapolis Hyatt on March 7. The conference is designed to support and encourage female leaders to grow and achieve success throughout their career journeys.

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