FILE – Qualtrics CEO Ryan Smith walks through the office in Orem on Friday, Feb. 2, 2018.
Jeffrey D. Allred

SALT LAKE CITY — Even without capturing a monster $8 billion Qualtrics deal, 2018 was a banner year for Utah business capital flow dominated by tech interests and amassing over $14 billion on almost 500 major transactions.

While Provo-based survey and business analytics innovator Qualtrics announced it was being acquired by European software giant SAP last November, the all-cash deal didn’t close until early 2019.

On Friday, MountainWest Capital Network released its 2018 Deal Flowanalysis, the 24th iteration of an annual report that details Utah’s capital market and the number of IPOs, investments and mergers and acquisitions.

Mary Archbold

Deal Flow Chairwoman Katie Chandler said the 2018 Utah data is, in many ways, tracking changes also evident in the broader capital markets.

“Utah capital activity is very consistent with global trends,” Chandler said. “Not as many deals as we’ve seen in the past, but bigger investments that are more focused on mature companies and later stage deals.”

Chandler said the last few years have seen an ebb in investment exuberance focused on startup operations, with many investors opting for more caution, perhaps in light of expectations that a larger market correction could be looming.

“Many are looking at the economy and wondering when the big bust will happen,” Chandler said. “We’re definitely seeing a lot of private equity and venture capital firms being a lot more careful with their dollars.”

Chandler said that while the report data shows some movement away from interest in early-stage investments, the burgeoning Utah venture market is helping fill those funding gaps for local startups.

“The small startups of today are having to work harder to find funding than some of their predecessors,” Chandler said. “In …read more

Source:: Deseret News – Business News


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New report: Tech dominates as $14 billion in capital flowed into Utah last year

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