Costa Mesa, California-(Business Wire)-November 10, 2020-
DA Davidson & Co. announced today that it has acted as the exclusive financial advisor to MobiChord, Inc. to secure the investment of Periscope Equity LLC.
Headquartered in Salt Lake City, MobiChord was founded in 2013 and is a leading provider of technology expense management (TEM) software, which is natively built on ServiceNow. The company’s SaaS solution automates the management of technical expenses, assets and services through digital workflows, thereby increasing efficiency and transparency for the growing corporate customer base. For more and more enterprise customers who are adopting ServiceNow to automate management workflows throughout the organization, the MobiChord product suite provides differentiated products on the market.
MobiChord has become a disruptor in the TEM market by breaking through the boundaries of traditional technology cost management. The company decided to work closely with ServiceNow, including an investment from ServiceNow Ventures in 2016, which made MobiChord one of the fastest growing companies in the United States (ranked 612 in the 2019 Inc. 5000 list). MobiChord has achieved growth through continuous product innovation. Its outstanding features are its expertise in the mobility of fixed phone workflows and meeting the rapidly growing demand for cloud cost management.
MobiChord co-founder and CEO Herbert Ull said: “The DA Davidson team has brought huge software domain expertise and perfect execution capabilities, which helps MobiChord and its partners in a challenging trading environment. Shareholders achieve the best results.” “We are very satisfied with Periscope Equity’s new partners. Our comprehensive skill set will allow us to further increase our growth rate by expanding our marketing methods and continuing to strengthen product innovation to provide more Long-term customer value.”
Greg Thomas, Managing Director of DA Davidson, said: “The Herbert and MobiChord teams have done a great job in executing their business plans and laid the foundation for success.” “We are very pleased to see Periscope Equity’s strong team and MobiChord achieve this Success because they solved the market that needed differentiated, software-based solutions.”
DA Davidson’s investment banking division is a leading full-service investment bank, providing comprehensive financial advisory and capital market expertise. The group has extensive trading experience and serves global middle market customers in five industry sectors: consumers, diversified industries, financial institutions, real estate and technology.
DA Davidson and European strategic partner MCF Corporate Finance initiated and executed transatlantic mergers and acquisitions under the joint brand of DA Davidson MCF International.
About DA Davidson Corporation
DA Davidson Companies is an employee-owned financial services company that provides various financial services and advice to individuals, companies, institutions and municipalities across the country. The company was founded in 1935 and is headquartered in Montana, with corporate offices in Denver, Los Angeles, Portland, and Seattle. The company has approximately 1,400 employees and offices in 26 states.
Subsidiaries include: DA Davidson & Co. is the largest full-service investment company headquartered in the Northwest, providing wealth management, investment banking, stock and fixed income capital market services and advice; Davidson Investment Consulting, a professional asset management company; DA Davidson Trust Company, a trust and wealth management company; Davidson Fixed Income Management, a registered investment consultant that provides fixed income investment portfolios and consulting services.
For more information, please visit dadavidson.com.
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Contact: Jacques Birchard
Davidson
(406) 791-7465
Keywords: California, Oregon, Montana, Washington, Utah, Colorado, United States, North America
Industry keywords: software network human resources financial data management small business professional service technology
Source: DA Davidson & Co.
Copyright 2020 Business Wire.
PUB: 11/10/2020 01:59 PM / DISC: 11/10/2020 01:59 PM
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