|Renaissance Mergers & Acquisitions is pleased to announce that LOKI Management Systems Inc. (LOKI) has been acquired by ZeroChaos.
Founded in 1987, Loki Systems Management Inc. (Loki) is a leading developer of workforce management software solutions designed for global enterprises with complex staff scheduling and payroll requirements. They have more than 210 customers in 17 countries (including US, Canada, UK and Australia), the largest with 30,000 employees.
After running Loki for almost 30 years the founders, Richard and Jo Swann, were nearing retirement age. As a result, they were seeking to transition the company to a larger strategic purchaser with the resources and distribution channels to fully capitalize on the world class scheduling and payroll technology they had developed.
After significant research, a roster of over 75 potential acquirers was developed comprised of strategic purchasers and technology industry focused private equity groups. Of these, 20 advanced to review the Confidential Information Memorandum.
After reviewing the Letters of Intent, the successful bidder was ZeroChaos – a multi-billion-dollar provider of workforce management services based in Florida, USA. ZeroChaos will be able to leverage its significant resources, broad distribution channels and large existing client base to generate a strong return on their investment.
An interesting challenge in this transaction was that ZeroChaos itself was acquired by The Carlyle Group (ranked as the largest Private Equity group in the world) over the course of our negotiations.
It was Renaissance Mergers & Acquisitions pleasure to serve as the exclusive sell-side advisor to LOKI on this transaction.
Deal team: Axel Christiansen and Arneh Khatchatourians