Insightful Science, a technology provider to the life sciences industry, has agreed to buy data management company Dotmatics Ltd. as the surge in software deals shows little sign of slowing. The combined group will generate more than $100 million in annual revenue, the companies said in a statement Monday. Financial terms were not disclosed. The deal is valued at as much as 500 million pounds ($690 million), said people familiar with the matter.

Insightful is backed by Insight Partners, the technology-focused venture capital and private equity firm that has invested in companies including analytics platform Qualtrics International Inc., social network Twitter Inc. and hotel bookings site Trivago NV.

The deal for Dotmatics adds to almost $120 billion of transactions involving software companies globally this year, according to data compiled by Bloomberg. That’s up almost two thirds from the same point in 2020, with private equity firms helping to fuel deal volumes.

Bloomberg News reported this month that Thoma Bravo is nearing a deal to buy Calypso Technology Inc. in a transaction valuing the financial software provider at as much as $3.7 billion, while TA Associates is in advanced discussions to acquire Unit4 NV, the enterprise software company owned by Advent International, for more than $2 billion.


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Source: BNN Bloomberg

By Dinesh Nair, Myriam Balezou and Gillian Tan