Corum Client ExakTime Receives Majority Investment From Providence Strategic Growth

Date: 17 August 2018
Author:
Corum Group

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.

quotesWe are grateful to Corum for identifying and bringing us together with an ideal US-based partner. This strategic partnership with Rubicon will accelerate our product roadmap and provide additional resources to better support our customers and partners. quotes

Chris Astle
QSR International