Year in Review 2019: Biggest Philadelphia Tech Acquisitions
There are several reasons to celebrate the Philadelphia region’s tech scene over the past year — more than two billion of them.
A handful of area tech firms saw major acquisitions valued at more than $2 billion in 2019, representing a culmination of years of investment by not only venture capital and private equity firms, but also local employees, advisers and partners.
The people closest to a startup aren’t the only ones who benefit from a big exit, of course. Deals that deliver sizable returns to investors are crucial in expanding entrepreneurial ecosystems, as founders or investors often reinvest sale proceeds back into the local economy, by either investing in the next generation of startups or launching new ventures.
Looking back on the biggest deals of 2019 then spurs the questions — what kind of ripple effect will they cause, years down the road?
Here’s a rundown of some of the largest ones over the past year:
Acquired by: JPMorgan Chase
Price: $500 million
When InstaMed first started out in 2004, its founders made a bet: How much consumers were paying for out-of-pocket health care costs will continue to rise, and soon, providers, insurers and patients were going to need a more efficient way to manage all of those payments.
Read the full list and article here.