Silo technologies have acquired Pet Tiger (Orange Enterprises) in a deal that was supported by Banneker Partners. The acquisition is a significant advancement in consolidation of software tools that serve the produce and food supply chain. It shows the growing need in the modern systems that use clouds to assist growers, packers, shippers and distributors manage the operations more accurately and with faster speed.
The role of tech-oriented advisors in M&A is increasing as well in light of this acquisition. David Jacobs who is a business broker specializing in software and SaaS companies represented Orange Enterprises in this transaction where he assisted the founders in valuation, obtaining buyer interest, offer comparison and negotiation. His contribution contributed to the positioning of the company to a good performance in a competitive market.
PET TIGER’S ROLE IN THE AGRICULTURE AND FOOD INDUSTRY
Pet Tiger is a company that has been a reputable provider of ERP and labor management systems to the agriculture and food manufacturing industries. The company, based in Fresno, California, developed tools to enable growers and packer-shippers to monitor vital data, including the labor costs and employee hours by field, production-related data, and the total amount of money spent on operations. These are tools that enable businesses to make decisions using real numbers rather than guess work.
The software that is used by the company has been relied upon in the produce world since it is based in accuracy, compliance and ease of use. It provides a cloud-based platform to enable its teams to gather and examine data at any location. To most farms and food producers, Pet Tiger has been a significant aspect of their day to day activities over the years.
Prior to the acquisition, Pet Tiger had expanded its customer base through the provision of trusted software that had easy workflows. The platform was helpful in all kinds of activities like reporting of labor costs as well as production planning. That background enabled the company to be a good match to the growing vision of a single produce management system of Silo.
HOW SILO TECHNOLOGIES IS EXPANDING ITS ERP ECOSYSTEM
Silo Technologies has been developing solutions that can assist companies to manage their finances, inventory, logistics, and stream line payments. The company is also aimed at finding solutions on old issues in the produce supply chain where manual procedures, paperwork and outdated software are still the order of the day.
The new capabilities that Silo will acquire when it takes over Pet Tiger include the ability to track labor and analyze production cost. These functionalities will address critical gaps in the platform of Silo and will put the company nearer to delivering a complete, end-to-end ERP experience to the entire produce ecosystem.
The leadership of Silo explained that Pet Tiger had solid background in the agricultural community, and it had a good reputation which made it a good partner. Silo will integrate gradually instead of subjecting its users to an entirely different system immediately. As a temporary solution Pet Tiger will still operate under its name and the tools that were used by the customers will still be used. In the course of time, the two systems will be more integrated.
WHAT THE DEAL MEANS FOR THE PRODUCE AND FOOD SUPPLY CHAIN
Agriculture and food are not among the industries that have transitioned to modern software rather quickly. A lot of companies continue relying on paper logs, spread sheets, or an old system that was constructed many years ago. This acquisition is a pointer of a developing shift.
Increased farms, growers, packers, and distributors are seeking technology that will minimize manual labor and enhance accuracy. The increased costs, compliance regulations and the necessity to have real-time awareness of the field operations have made labor tracking particularly significant.
This deal will enable Silo to develop a more comprehensive produce supply chain data environment. Through its integration of financial tools, payment systems, inventory tracking, and recently labor management, Silo is on the path to the future of all operational information being stored at a single location.
DAVID JACOBS’ ROLE IN FACILITATING THE ACQUISITION
Although the market status of Silo is enhanced by the acquisition, it was also a significant shift among the owners of Pet Tiger. In order to sail through the process, Orange Enterprises engaged David Jacobs to be their business broker.
Jacobs has established a good reputation as an advisor specialising in the sale of software, SaaS and tech-enabled service businesses with a revenue of between 3 million and 20 million. His work has a reputation of making numerous qualified offers per deal and generating high cash-at-close outcomes to founders.
In this sale, Jacobs led the team of Pet Tiger to the entire exit process. That involved getting the company ready to sell, arranging financial and operation information, defining the business operation and positioning the company, and identifying qualified customers to make the purchase.
WHY SPECIALIZED BROKERAGE MATTERS IN SOFTWARE M&A
The buying and selling in software Businesses is in most cases not the same as in the normal companies. They are also associated with the quality of the products, recurring income, retention of the customers, and the prospect of future growth. These factors may not be well known to a general business broker.
Jacobs is an expert in software and SaaS companies which qualify him to represent Pet Tiger. Having worked on metrics of technology, subscription business and software valuations enabled him to put the company in a perspective that would appeal to both strategic buyers and the private equity firms.
The purchase also demonstrates the value of a broker that is knowledgeable of the market environment. Since Jacobs has contacts with numerous active buyers in the software industry, he could match Pet Tiger with highly suitable acquirers, such as Silo and Banneker Partners.
CONCLUSION
The purchase of Pet Tiger by Silo Technologies is a significant point in the history of produce and food supply chain software. The deal unites two companies that share common objectives assisted by Banneker Partners and led by the knowledge of broker David Jacobs.
In the case of Silo, the move increases its capabilities and the ability to remain a major provider of modern tools in the produce industry. In the case of Pet Tiger, it provides innovative assets and supplements to enable its platform to expand. And to the industry generally, it is an indicator of movement toward more robust and more integrated software systems capable of meeting the sophisticated demands of agriculture and food production.
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