Utah Deal Intelligence - March 2022

This report is prepared as a courtesy to the Utah business community by Columbia West based on our research and information collected by our firm. Despite our dedicated efforts, occasionally a deal might be missed or appropriate credit not given to legal or financial advisors. Please feel free to contact us if you have information on a transaction that you want to ensure is included and credit attributed to appropriate advisors. Also, feel free to forward to others who may have interest; they can be added to the regular distribution by contacting our office. Our contact information is below.

M&A - Strategic

3/1/2022 Complete Recovery Corporation (CRC) acquired Prince Parker & Associates, Inc. The terms of the transaction were not disclosed. CRC offers call center operation services and is based in Salt Lake City.

3/1/2022 Epicor Software Corporation acquired Grow, Inc. The terms of the transaction were not disclosed. Grow is a full-stack business intelligence platform that empowers users to make data-driven decisions and is based in Lehi.

3/3/2022 CallTower Inc. acquired One Stream Networks LLC. The terms of the transaction were not disclosed. CallTower provides cloud-based enterprise-class unified communications solutions for organizations worldwide and is based in South Jordan.

3/3/2022 Five Star Franchising, Inc. (FSF) acquired 1-800-Packouts. On 3/15/2022, FSF acquired Mosquito Shield LLC. The terms of the transactions were not disclosed. FSF develops home service franchise systems and is based in Spanish Fork.

3/4/2022 Executech Utah, LLC acquired Flagstaff Information Technology & Communications, LLC. The terms of the transaction were not disclosed. Executech provides information technology solutions and consulting services and is based in South Jordan.

3/7/2022 Gideon Taylor Consulting, LLC acquired IntraSee, Inc. The terms of the transaction were not disclosed. Gideon Taylor provides information technology consulting services and solutions and is based in Orem.

3/7/2022 Hornbeam Insurance Company acquired National Service Alliance, Inc. The terms of the transaction were not disclosed. National develops and offers an online platform for the aftermarket support industry to control, monitor, and deliver services to consumers in and out of warranty and is based in Salt Lake City.

3/8/2022 Altigen Communications, Inc. (OTCPK:ATGN) agreed to acquire substantially all of the assets from Intermountain Technology Group, LLC, dba ZAACT Consulting. The terms of the transaction were not disclosed. ZAACT offers Microsoft consulting services such as Teams, Azure, SharePoint, and Dynamics and is based in Sandy.

3/9/2022 DirectScale, LLC acquired DirecTech Labs, Inc. The terms of the transaction were not disclosed. DirectScale offers cloud-based software that supports direct and social selling companies and their salesforce and is based in Orem.

3/9/2022 Wolters Kluwer N.V. (ENXTAM:WKL) agreed to acquire International Document Services, Inc. (IDS) for $70.0 million. IDS offers mortgage closing document preparation software and services for mortgage brokers, investors, banks, title companies, closing attorneys, escrow companies, lenders, credit unions, and other financial institutions and is based in Draper.

3/16/2022 Instant Group Limited acquired Davinci Virtual, LLC. The terms of the transaction were not disclosed. Davinci provides virtual communications and office solutions for companies and entrepreneurs and is based in Salt Lake City.

3/17/2022 White Knight Fluid Handling, Inc. acquired International Polymer Solutions, Inc. The terms of the transaction were not disclosed. White Knight manufactures fluid handling equipment for semiconductor, solar, LEDs, flat-panel displays, and electronics industries and is based in Kamas.

3/21/2022 Alliance for Multispecialty Research, LLC (AMR) announced its recent acquisition of Pharmaceutical Research Organization, LLC (PRO) and AMR's majority recapitalization by Curewell Capital in partnership with existing shareholders and management. The terms of the transactions were not disclosed. Based in Bountiful, PRO is a trial management organization that conducts and manages the day-to-day clinical research trial in pediatric vaccines and is now known as AMR Utah.

3/23/2022 Superior Plus Corp. (TSX:SPB) acquired Kiva Energy, Inc. The terms of the transaction were not disclosed. Kiva operates as a wholesale supplier of propane and is based in Sandy.

3/28/2022 Sarcos Technology and Robotics Corporation (NasdaqGM:STRC) agreed to acquire RE2, Inc. for $100.0 million. Sarcos designs, develops, and sells robotic systems and is based in Salt Lake City. Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal advisor to Sarcos.

3/31/2022 Freshly Picked LLC acquired MagnetBlox. The terms of the transaction were not disclosed. MagnetBlox sells a patent pending magnetic building toy that supports pretend play and builds children's creative and motor skills and is based in American Fork. Freshly engages in the online retail of apparel for women, babies, and children and is based in Lindon.

Private Placements

3/3/2022 Atomic FI, Inc. announced that it has received $40.0 million in a round of funding from Mercato Partners, LLC, Greylock Partners, and other investors. Atomic develops an application programming interface for connecting payroll accounts to third-party banking applications and is based in Salt Lake City. Mercato is a private equity and venture capital firm based in Cottonwood Heights.

3/8/2022 Adapt Ideations received a round of funding from new investor Red Door Capital Partners LLC. Red Door is a private equity and venture capital firm based in Salt Lake City.

3/8/2022 Ion Solar LLC announced that it has received funding from Greenbelt Capital Management L.P. and other investors. Ion designs and installs solar systems and equipment and is based in Provo. Dentons Bingham Greenbaum LLP served as legal advisor to Ion.

3/9/2022 The Upstream Collective, Inc. announced that it has raised $12.5 million in Series A funding led by Boldstart Ventures with participation from investors including Human Ventures, LLC, Ibex Investors LLC, and Medici Ventures, Inc., a blockchain-focused fund managed by Pelion, Inc. Pelion is a venture capital firm based in Salt Lake City.

3/17/2022 Gravit, Inc. announced that it has received $13.0 million in a round of funding co-led by Next Frontier Capital, EPIC Ventures, and Crane Group Co. Gravit owns and operates content marketing platforms and is based in Salt Lake City. EPIC is a private equity and venture capital firm based in Salt Lake City.

3/21/2022 Elephant Craft, Inc. announced that it has received a round of funding that included participation from Red Door Capital Partners LLC. Red Door is a private equity and venture capital firm based in Salt Lake City.

3/25/2022 Salad Technologies, Inc. announced that it has received $17.0 million in funding from Left Lane Capital, LLC, Origin Ventures Group, LLC, Royal Street Ventures, Carthona Capital, and Kickstart Seed Fund. Based in Salt Lake City, Salad engages in the mining of cryptocurrency using high-end gaming PCs' idle time and develops a payment gateway, SaladPay. Royal is a venture capital and private equity firm based in Park City. Kickstart is a private equity and venture capital firm based in Cottonwood Heights.

3/29/2022 Primavera Financial, Inc. announced that it has received a round of funding that included participation from Red Door Capital Partners LLC. Red Door is a private equity and venture capital firm based in Salt Lake City.

3/30/2022 Altitude Lab announced that its first cohort of startups raised $54.0 million in seed funding while incubating at Altitude Lab. The initial cohort includes ePurines, Known Medicine, Peel Therapeutics, Teiko Bio, and others. Altitude is a biotech and health care incubator offering lab and office space, funding, mentoring, and entrepreneurial education and is based in Salt Lake City.