Eagle.io
Eagle.io's cloud-based environmental IoT platform was acquired by Bentley Acceleration Initiatives, the strategic investment fund of Bentley Systems. Exit Advisory Group ran the process from engagement to close in nine months.
Lead adviser: Mark Levitt
The short version
Eagle.io built a cloud-based platform for water and environmental monitoring. With multiple shareholders and inbound interest that did not meet their goals, they appointed Exit Advisory Group to run a structured process. The platform was acquired by Bentley Acceleration Initiatives nine months later.
Deal facts
Client
Eagle.io: a cloud-based environmental IoT platform for water and remote-asset monitoring, with the explicit ambition of becoming the global benchmark for remote monitoring and control.
Challenge
Eagle.io was a top performer in water and environmental monitoring, with a rapidly growing IoT platform and multiple interested parties already in conversation. They were aware that those conversations were time-consuming and rarely fruitful without a structured process behind them.
After research, they appointed Exit Advisory Group to run the sale. With multiple shareholders involved and a clear ambition to expand internationally, the process had to satisfy several stakeholder perspectives at once.
Approach
Our first task was to map the diverse needs of the shareholder group. We worked through each stakeholder's perspective on valuation, terms and the future direction of the business, and used that to define the deal structure the process would aim for.
We then ran a process that attracted interest from global players in remote monitoring and infrastructure software. The right buyer needed to value the platform on its own terms and to share the global ambition the shareholders held for it.
Read more about the VALUE360™ framework we use to assess and lift transferable business value.
Outcome
Within nine months of engagement, Exit Advisory Group closed Eagle.io's acquisition with Bentley Acceleration Initiatives, the strategic investment fund and incubator of Bentley Systems, a NASDAQ-listed company. The deal met both buyer and seller expectations on valuation and terms.
Timeline
Nine months from engagement to completion.
“The successful partnership between Exit Advisory Group and Eagle.io delivered an outcome that we were really pleased with. We found the team at Exit Advisory Group to be professional and demonstrate value throughout the process.”
Ben Starr, Senior Director, Operations, Industrial IoT, Bentley Infrastructure IoT
Common questions
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Last updated . Case studies are reviewed at least quarterly; figures are taken from the original engagement and have not been embellished.