Cloud & SaaS Divestitures in 2024
Acquisition Volume in Cloud & SaaS Divestitures in 2024 by Year
Last 5 years
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December 20, 2024
- Industry
- Cloud & SaaS
- Type
- Divestiture
Trifork Labs portfolio shareholders have agreed to divest 30% of the existing shares in the portfolio company to an unnamed equity fund investor. Trifork Group will participate pro-rata and remain a minority shareholder after the partial sale.
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December 10, 2024
- Buyer
- EQS Group
- Target
- Convercent by OneTrust
- Seller
- OneTrust
- Industry
- Cloud & SaaS
- Location
- Colorado, United States
- Type
- Divestiture
EQS Group has acquired the ethics and compliance business division from OneTrust, including the Convercent platform. The acquisition adds Convercent’s ethics, whistleblowing, policy management and analytics capabilities and retains the employees supporting the solution—strengthening EQS’s compliance software footprint, particularly in the United States.
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September 24, 2024
- Buyer
- Intermedia Cloud Communications
- Target
- NEC's UNIVERGE BLUE UCaaS and CCaaS operations in North America, NEC's UNIVERGE BLUE partner relationships in Europe
- Seller
- NEC
- Industry
- Cloud & SaaS
- Location
- California, United States
- Type
- Divestiture
Intermedia Cloud Communications has entered into a definitive agreement with NEC for Intermedia to assume NEC’s UNIVERGE BLUE UCaaS and CCaaS operations in North America and NEC’s partner relationships in Europe. The transaction is expected to close in the United States and Canada by the end of September 2024, with Europe following in the coming weeks.
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- Buyer
- CUBE, Hg
- Target
- Thomson Reuters Regulatory Intelligence, Oden
- Seller
- Thomson Reuters
- Industry
- Cloud & SaaS
- Location
- Ontario, Canada
- Type
- Divestiture
London-based regtech CUBE has acquired Thomson Reuters’ Regulatory Intelligence and Oden businesses, expanding its regulatory content, subject-matter expertise, and global customer base. The deal (terms undisclosed) brings significant scale and specialist resources to CUBE’s AI-driven RegPlatform and is supported by investor Hg as part of CUBE’s broader growth strategy.
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- Buyer
- Netgain
- Target
- SuperSync (SCS Cloud's NetSuite applications business)
- Seller
- SCS Cloud
- Industry
- Cloud & SaaS
- Location
- Florida, United States
- Type
- Divestiture
Netgain has acquired SuperSync, the NetSuite applications business previously operated by SCS Cloud, expanding Netgain's NetSuite-native accounting and integration capabilities. The deal transfers the SuperSync product suite — which offers NetSuite integrations for e-commerce, 3PL/fulfillment, CRM, Outlook, procurement and approvals — to Netgain while SCS Cloud will continue its implementation and consulting services.
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March 12, 2024
- Buyer
- BetterCloud
- Target
- G2 Track (product line of G2)
- Seller
- G2
- Industry
- Cloud & SaaS
- Location
- Illinois, United States
- Type
- Divestiture
BetterCloud has acquired the G2 Track product line from G2 and formed a strategic partnership with G2 to combine SaaS operations and spend intelligence. The acquisition integrates G2 Track’s spend and license management capabilities into BetterCloud’s SaaS Management Platform to give IT and Finance teams unified visibility and automation for managing SaaS costs and usage.
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February 23, 2024
- Buyer
- Sylogist Ltd.
- Target
- Time Clock Now
- Seller
- Action Micro Technologies
- Industry
- Cloud & SaaS
- Location
- Indiana, United States
- Type
- Divestiture
Sylogist Ltd. acquired the Time Clock Now SaaS asset from Action Micro Technologies for total consideration of $1.65 million USD. The 100% cloud-based time tracking and scheduling solution will be integrated into Sylogist's Gov, Ed, Mission and Payroll platforms and marketed to Sylogist customers and the Microsoft Business Central and Dynamics GP communities.
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- Buyer
- Granicus
- Target
- SmartGov
- Seller
- Brightly Software (a Siemens company)
- Industry
- Cloud & SaaS
- Location
- North Carolina, United States
- Type
- Divestiture
Granicus, a provider of government experience cloud solutions, has acquired SmartGov — the cloud-based permitting, compliance and licensing (PCL) solution — from Brightly Software, a Siemens company. The acquisition expands Granicus' Government Experience Cloud by adding cost-effective, cloud-based permitting and licensing capabilities to serve hundreds of U.S. cities, counties and state agencies.
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