Check out how Boston-based companies are growing in the tech space. A flashy office expansion and a hefty stock sale are just the beginning. This is the Built In Boston Weekly Refresh.
Cengage Group secured $500M. Edtech company Cengage Group announced that Apollo Funds will purchase $500 million of Cengage’s convertible preferred stock. The transaction is set to close in June and will allow Cengage to fuel investments in its business portfolio. Cengage supports all student grade levels with content and tech that work to further their skills and competencies. [Cengage Group]
Boston Tech Quote of the Week
“We’re thrilled to welcome Old Street Solutions to Tempo, as it marks another significant step forward in our mission to empower teams to work better together. Data visualization and reporting capabilities are essential to any strategic portfolio management solution and help our customers to make informed decisions and improve their product development processes.” — Mark Lorion, CEO of Tempo Software
Tempo will acquire Amovos SRO. Tempo offers product development tools for streamlining portfolio management tasks. The company announced its plans to acquire Amovos SRO, owner of the brand Old Street Solutions, which offers tools for Jira and Confluence. The acquisition will expand Tempo’s product suite of customizable data visualizations that aim to be less complicated than other corporate reporting tools. [Business Wire]
SimpliSafe opened a new HQ. Provider of smart home security systems SimpliSafe announced the expansion of its Boston headquarters. The company’s new 150,000-square-foot office at 100 Summer St. is officially open. The custom-built downtown space features numerous accommodations for hybrid and collaborative work. SimpliSafe currently employs about 500 people in Boston with plans to hire 100 more in the coming year across engineering R&D, logistics, IT and more. [PR Newswire]
