Quarterhill to Acquire Conduent Tolling Solutions Business for $70 Million

Quarterhill Acquires Red Fox I.D. Limited

March 15, 2024

Transportation

Quarterhill Inc. has entered into a definitive agreement to acquire all outstanding shares of Red Fox I.D. Limited, a UK-based provider of Automatic Vehicle Detection and Classification (AVDC) software for the tolling industry, for up to US$10.2 million in cash and equity. Quarterhill expects the acquisition to close around April 1, 2024, to expand its software capabilities and accelerate growth in higher-margin software sales; Red Fox is expected to generate approximately US$1.4 million of annualized adjusted EBITDA in 2024 and the deal is expected to be immediately accretive.

TPG Capital to Acquire Convey Health Solutions in ~$1.1B Deal

June 22, 2022

Healthcare Services

TPG Capital, the private equity platform of TPG, announced it will acquire Convey Health Solutions Holdings in a definitive merger agreement valued at approximately $1.1 billion. Under the terms, TPG Capital will buy all shares not already owned by it or certain management and director shareholders for $10.50 per share in cash, with closing expected in the second half of 2022.

project44 Acquires Convey for $255M

September 21, 2021

Logistics & Distribution

project44 has acquired Austin-based Convey, a last-mile Delivery Experience Management (DEM) and real-time visibility provider, for $255 million. The acquisition expands project44's platform to the consumer doorstep, combining end-to-end supply chain visibility with post-purchase delivery experience and AI-driven analytics to better serve retail and eCommerce customers.

Quarterhill Inc. Acquires Electronic Transaction Consultants (ETC)

September 1, 2021

Transportation

Quarterhill Inc. completed the acquisition of 100% of Electronic Transaction Consultants, LLC (ETC), a Richardson, Texas-based intelligent transportation systems (ITS) and tolling provider, for C$150.0 million funded with C$75.0 million cash and C$75.0 million of syndicated debt. The deal gives Quarterhill a leading position in the U.S. tolling market, and Quarterhill expects ETC to generate C$95–120 million of annualized revenue (post-synergies) and C$12.5–15.0 million of Adjusted EBITDA within 12–18 months.

H.I.G. Capital Invests in Concord; Concord Acquires Upton Hill

April 6, 2021

IT Services

An affiliate of H.I.G. Capital completed a growth investment in Concord USA, LLC, a Minneapolis-based technology consulting and digital transformation firm. Concurrently, Concord acquired Upton Hill Inc., a Minnesota-based healthcare-focused consulting firm, to deepen its payor expertise and broaden service capabilities for enterprise clients.

Questel Acquires Majority Stake in Concur IP

February 4, 2019

Legal Services

Questel has made a majority investment in Concur IP, an India- and U.S.-based intellectual property services firm known for patent drafting and standard-essential patent (SEP) expertise. The acquisition expands Questel’s end-to-end IP services offering by adding patent drafting, international filing and SEP/licensing capabilities while Concur IP’s co-CEOs Nitin Agrawal and Sachin Sinha will continue to lead the business.