Cloud & SaaS Buyers & Acquisitions in Minnesota

Tracked deals

43

43 tracked deals across 2019-2026.

Buyer mix

Mixed buyer set

29 strategic · 25 pe

Top trend

Volume peaked in 2022

9 tracked deals announced in 2022.

Primary Insight

What Stands Out

  • Healthcare SaaS expansion stands out, including CRScube’s acquisition of Mednet to broaden global eClinical capabilities (EDC-centric tools plus CTMS, RTSM, ePRO, eTMF).
  • Data, measurement, and analytics are recurring targets—Uptempo acquired OptiMine Software to add Marketing Mix Modeling and advanced analytics.
  • Platform integration in security and resilience appears in deals like CrashPlan’s acquisition of Parablu to extend Microsoft 365 backup and ransomware recovery.
  • Vertical SaaS acquisition themes include automotive customer engagement (Fullpath acquiring a dynamic payments solution) and industry-focused software such as ERP for woodworking/ETO shops (INNERGY).
Recurring Minnesota theme Example deal in the list
eClinical platform completeness CRScubeMednet
Marketing measurement & analytics UptempoOptiMine Software
Cloud data protection & resiliency CrashPlanParablu

Build a buyer list for your Cloud & SaaS deal

Find buyers actively acquiring cloud & saas companies.

Find buyers like these for your deal

Buyer Snapshot

Top Buyers

Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.

Build a buyer list for your Cloud & SaaS deal →
Buyer # Deals Focus Type
ASG 2 Buys and builds vertical SaaS companies and integrates th... Strategic (PE-backed)
Alpine Investors 2 Private equity firm investing in software and services bu... PE
Arcadea Group 2 Long-hold, permanent-capital investor focused on vertical... PE
Cordance 2 Software acquirer and operator that acquires and accelera... Strategic
Mill Point Capital LLC 2 Private equity firm focused on control investments in low... PE
ACTO 1 Omnichannel education and engagement SaaS platform for li... Strategic
Adzuna 1 Global job search engine offering AI-powered matching, sa... Strategic
Arthur Ventures 1 Early growth capital firm investing in B2B software compa... PE
AutoQuotes (AQ) 1 Provider of quote-to-cash, CPQ, PIM and visual configurat... Strategic (PE-backed)
Bain Capital Tech Opportunities 1 Growth-equity/private investment arm of Bain Capital focu... PE

Acquisition Volume in Cloud & SaaS in Minnesota by Year

Last 8 years

Acquisition volume by year Annual acquisition counts for the last 8 years for Cloud & SaaS Buyers & Acquisitions in Minnesota. 3 2019 6 2020 5 2021 9 2022 7 2023 8 2024 4 2025 ~2 est. 1 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    Straylight Capital, Scaleworks
    Target
    Patron Points
    Industry
    Cloud & SaaS

    Patron Points, a Woodbury, Minnesota-based loyalty and customer engagement software provider for convenience stores, secured a strategic growth investment led by Straylight Capital. The round also included Scaleworks and other Straylight co-investors, and the company plans to expand nationally and advance its loyalty, promotions, portal, self-service tools, and AI-powered business intelligence.

  • Buyer
    CRScube
    Target
    Mednet
    Industry
    Cloud & SaaS
    Type
    Buyout

    CRScube has acquired Mednet to accelerate its expansion into the North American market and broaden its global eClinical SaaS capabilities. The combined company will integrate complementary EDC-centric platforms and related eClinical tools (CTMS, RTSM, ePRO, eTMF) to offer a more complete, scalable suite for sponsors and CROs across pharmaceuticals, biotech, and medical devices.

  • Buyer
    Uptempo
    Target
    OptiMine Software
    Industry
    Cloud & SaaS
    Type
    Buyout

    Uptempo, an enterprise marketing performance platform, has acquired OptiMine Software to integrate OptiMine's Marketing Mix Modeling (MMM) and advanced analytics into Uptempo's marketing performance management solution. The acquisition expands Uptempo's measurement and analytics capabilities to better serve enterprise marketing teams and accelerate data-driven optimization.

  • Buyer
    Fullpath
    Target
    Fuse Autotech (Dynamic Payments solution)
    Seller
    Fuse Autotech
    Industry
    Cloud & SaaS

    Fullpath acquired the Dynamic Payments solution from Fuse Autotech to embed real-time, personalized payments and offers into its automotive Customer Data Platform (CDP). The integration aims to deliver frictionless, relevant financing and incentive offers across dealership touchpoints, improving conversion and customer experience.

  • Buyer
    Cordance
    Target
    Channel Software
    Industry
    Cloud & SaaS
    Type
    Buyout

    Cordance has made a strategic acquisition of Channel Software, adding the CSX eCommerce B2B platform to its portfolio to strengthen its industrial distribution software capabilities. Channel Software will operate as an independent business unit within Cordance, leveraging Cordance's go-to-market and operational resources to expand product innovation and market reach.

  • Buyer
    TA Associates
    Target
    Solifi
    Industry
    Cloud & SaaS
    Type
    Buyout

    TA Associates has made a majority investment in Solifi, a global cloud-based fintech software provider for secured finance, to support product innovation and accelerate expansion into adjacent markets and new geographies. Existing investor Thoma Bravo will remain a meaningful stakeholder; the capital will also enable strategic M&A to expand Solifi's capabilities and geographic footprint.

  • Buyer
    CrashPlan LLC, Mill Point Capital LLC
    Target
    Parablu Inc.
    Industry
    Cloud & SaaS
    Type
    Addon

    CrashPlan, a portfolio company of Mill Point Capital, has acquired Parablu Inc. to extend its Microsoft 365 (M365) data protection and resiliency capabilities. The deal integrates Parablu's patented OneDrive/Google Drive backup technology into CrashPlan's global cloud infrastructure and appoints Parablu CEO Anand Prahlad as CrashPlan CTO to accelerate delivery of M365 backup, archiving, and ransomware recovery features.

  • Buyer
    Mainsail Partners
    Target
    INNERGY
    Industry
    Cloud & SaaS

    INNERGY, a provider of cloud-based ERP and business management software for woodworking, cabinetry and other ETO shops, received a $44 million growth investment from Mainsail Partners. The capital will accelerate INNERGY's product roadmap, expand customer education and client success programs, and support product innovation; Mainsail will place partners on INNERGY's board alongside new SaaS executive Ed Roshitsh.

  • Buyer
    Impel
    Target
    Outsell
    Industry
    Cloud & SaaS
    Type
    Buyout

    Impel has acquired Outsell in a transaction valued at over $100 million in cash plus Impel equity, closing in late June. The deal combines Impel's conversational AI and lifecycle management platform with Outsell's customer data and automated outreach capabilities to create an end-to-end AI sales and marketing automation platform serving roughly 8,000 dealerships in 51 countries; Outsell (Minneapolis) will join Impel's board and brings ~170 employees and substantial first-party consumer messaging/data assets.

  • Buyer
    ClearCompany, Gemspring Capital Management, LLC
    Target
    Brainier Solutions Inc.
    Industry
    Cloud & SaaS
    Type
    Addon

    ClearCompany, a Gemspring Capital portfolio company, has acquired Brainier Solutions Inc., a Minneapolis-based provider of cloud-based learning management systems. The deal brings Brainier's LMS capabilities into ClearCompany's talent management suite to expand learning and development functionality; financial terms were not disclosed.

  • Buyer
    Arcadea Group
    Target
    AgCode
    Seller
    Wilbur-Ellis
    Industry
    Cloud & SaaS
    Type
    Addon

    Arcadea Group, a long-hold investor in vertical market SaaS, has acquired AgCode, a specialty-crop farm management software provider, from corporate owner Wilbur-Ellis. The deal positions AgCode to accelerate product development and expand its global footprint while enabling collaboration with Arcadea's existing Agtech portfolio (including Radfords).

  • Buyer
    OCLC
    Target
    cloudLibrary
    Seller
    Bibliotheca (Digital Solutions Group)
    Industry
    Cloud & SaaS
    Type
    Buyout

    OCLC has acquired cloudLibrary, the digital lending platform and assets of Bibliotheca’s Digital Solutions Group, to expand its digital content services for public libraries. The transaction transfers cloudLibrary staff to OCLC and is intended to strengthen OCLC’s infrastructure and service offerings for libraries worldwide.

  • Buyer
    Perforce Software, Francisco Partners, Clearlake Capital Group, L.P.
    Target
    Delphix
    Industry
    Cloud & SaaS
    Type
    Buyout

    Perforce Software completed its acquisition of Delphix, adding enterprise test data management capabilities to its DevOps-focused portfolio. The deal was initially announced in February 2024 and was expected to close in Q2 2024; financial terms were undisclosed.

  • Buyer
    MPK Equity Partners
    Target
    NewlyNamed
    Industry
    Cloud & SaaS

    MPK Equity Partners has made a strategic growth investment in NewlyNamed, a Minneapolis-based tech-enabled platform that streamlines the legal name-change process for individuals. The partnership will provide capital and strategic support to accelerate NewlyNamed's growth and expand its consumer-facing service offerings across the United States.

  • Buyer
    Electronic Servitor Publication Network, Inc. (XESP)
    Target
    Pointward Inc.
    Industry
    Cloud & SaaS
    Type
    Buyout

    Electronic Servitor Publication Network, Inc. (XESP) has merged with Pointward Inc., a Delaware intellectual property holding company that owns channel activation and customer engagement technology. The acquisition gives XESP access to Pointward’s audience-segmentation and one-to-one engagement IP to expand XESP’s Digital Engagement Engine and better serve both regulated and unregulated B2B markets.

  • Buyer
    Baird Capital (Venture Capital team)
    Target
    Parallax
    Industry
    Cloud & SaaS

    Baird Capital's venture team led a Series B funding round in Parallax, a provider of predictive forecasting and capacity-planning software for digital services. Parallax will use the capital to accelerate product innovation, expand market presence, and scale operations to meet growing demand.

  • Buyer
    Arcadea Group
    Target
    SPARK
    Seller
    Community Reinvestment Fund, USA
    Industry
    Cloud & SaaS
    Type
    Buyout

    Arcadea Group, a Toronto-based long-hold growth investor, has acquired SPARK, a Minneapolis-headquartered SaaS lending platform, from Community Reinvestment Fund, USA (CRF). The acquisition gives SPARK access to Arcadea's software operating experience and resources to accelerate product functionality and long-term growth in the SBA and conventional lending markets.

  • Buyer
    ECI Software Solutions
    Target
    BuildTools
    Industry
    Cloud & SaaS
    Type
    Buyout

    ECI Software Solutions has acquired BuildTools, a web-based construction management platform for custom builders and remodelers. BuildTools will join ECI's Residential Home Construction Group to help ECI expand into smaller custom builders and remodelers while ECI invests in the platform's development, go-to-market and customer success.

  • Buyer
    Cordance
    Target
    Neatoscan, Inc.
    Industry
    Cloud & SaaS
    Type
    Addon

    Cordance has acquired Neatoscan, Inc., a provider of barcode scanning and inventory management solutions for resellers, and will integrate it with its portfolio company Upright Labs. The deal creates a combined reselling technology platform offering multi-channel listing, inventory management, and advisory services to secondhand online retailers and thrift stores.

  • Buyer
    HostPapa, Inc.
    Target
    Deluxe web hosting and logo design businesses
    Seller
    Deluxe Corporation
    Industry
    Cloud & SaaS

    HostPapa, a Burlington, Ontario-based web hosting and cloud services provider, agreed to acquire Deluxe Corporation's web hosting and logo design businesses. The deal, a divestiture by Deluxe to streamline its portfolio toward payments and data, will transfer the business, clients and employees to HostPapa pending customary closing conditions.

  • Buyer
    SmartCommerce
    Target
    Basketful
    Industry
    Cloud & SaaS
    Type
    Addon

    SmartCommerce, a PE-backed provider of data-centric, AI-assisted SaaS solutions for CPG, has acquired Basketful, a provider of in-context eCommerce optimization tools and data-driven category/channel insights. The deal expands SmartCommerce’s Click2Cart portfolio—adding contextual commerce and broader category visibility—and the companies have begun integrating technologies to deliver enhanced services to clients in Q4.

  • Buyer
    ASG, Alpine Investors
    Target
    MediMatrix (formerly WebInterstate)
    Seller
    WebInterstate LLC (dba MediMatrix)
    Industry
    Cloud & SaaS
    Type
    Addon

    ASG, a portfolio company of Alpine Investors that builds vertical SaaS businesses, has acquired MediMatrix (formerly WebInterstate), a Minneapolis-based mobile healthcare software provider that streamlines order management, image sharing and billing for mobile radiology services. The deal (closed June 9, 2021) will keep founder Ken Kern active as CTO and install Marvel Myrtile as CEO; Generational Equity advised the seller. ASG said the acquisition expands its mission-critical healthcare software capabilities and supports continued organic growth and further acquisitions.

  • Buyer
    Mill Point Capital LLC (affiliate)
    Target
    CrashPlan Group
    Seller
    Code42 Software, Inc.
    Industry
    Cloud & SaaS
    Type
    Buyout

    An affiliate of Mill Point Capital LLC has acquired CrashPlan Group from Code42 Software, Inc. in a corporate carve-out, creating an independent, pure‑play data backup and recovery company. Mill Point will support CrashPlan’s growth as a standalone business focused on cloud-based endpoint backup and recovery solutions.

  • Buyer
    Blue Star Innovation Partners
    Target
    TravelNet Solutions
    Seller
    VTrips
    Industry
    Cloud & SaaS
    Type
    Buyout

    Blue Star Innovation Partners has acquired a majority stake in TravelNet Solutions (TNS), a Minneapolis‑based provider of Track Hospitality Software and related vacation‑rental platforms. The investment will be used to accelerate product development, expand support and hiring, and pursue M&A to add complementary solutions; TNS's existing leadership remains in place and VTrips exited its stake.

  • Buyer
    Carbon6
    Target
    SoStocked
    Seller
    SoStocked founders (Chelsea Cohen, John Koch, Dan Fernandez)
    Industry
    Cloud & SaaS
    Type
    Buyout

    Carbon6 has acquired SoStocked, a customizable inventory management and forecasting SaaS built for Amazon sellers. The SoStocked founders — Chelsea Cohen, John Koch, and Dan Fernandez — will join Carbon6 in leadership/advisory roles as Carbon6 integrates SoStocked to expand its end-to-end ecommerce software suite and supply-chain capabilities for marketplace sellers.

  • Buyer
    Adzuna
    Target
    Getwork
    Seller
    LinkUp
    Industry
    Cloud & SaaS
    Type
    Buyout

    Adzuna, the UK-headquartered job search engine, has acquired US enterprise job search engine Getwork to accelerate its growth in North America. Getwork — spun out of LinkUp and led by President Brad Squibb — will continue operating under its brand while integrating with Adzuna’s AI-powered matching and programmatic delivery capabilities.

  • April 25, 2022
    Buyer
    ecomedes
    Target
    Mortarr
    Industry
    Cloud & SaaS
    Type
    Buyout

    ecomedes, a B2B vertical SaaS platform for sustainable building product data, has acquired Mortarr, a search-and-discovery engine for commercial construction and design. The deal brings Mortarr’s community and discovery UX together with ecomedes’ impact-aware product catalog to simplify product discovery, accelerate sustainable procurement, and expand digital channels for manufacturers and A+D professionals.

  • Buyer
    UKG Inc.
    Target
    Ascentis Corporation
    Industry
    Cloud & SaaS
    Type
    Buyout

    UKG Inc. has acquired Ascentis Corporation, a full-suite HR and workforce management software provider headquartered in Eden Prairie, Minnesota. The deal brings several hundred Ascentis employees (including staff in Montevideo, Uruguay) and roughly 4,800 customers into UKG, strengthening UKG's HCM, payroll and workforce management capabilities.

  • Buyer
    SureSwift Capital
    Target
    MeetEdgar
    Seller
    Laura Roeder
    Industry
    Cloud & SaaS
    Type
    Buyout

    SureSwift Capital has acquired MeetEdgar, the Edina, Minnesota–based social media automation SaaS founded by Laura Roeder. Roeder sold the business to focus on her new coaching software, Paperbell; SureSwift said the acquisition fits its strategy of buying and growing profitable independent SaaS businesses. Terms were not disclosed.

  • Buyer
    Bain Capital Tech Opportunities, Arthur Ventures
    Target
    When I Work
    Industry
    Cloud & SaaS

    When I Work, a Minneapolis-founded provider of shift-based workforce management SaaS, secured a $200 million growth investment from Bain Capital Tech Opportunities with existing investor Arthur Ventures reinvesting. The capital will be used to expand its employee-first scheduling, time-tracking and messaging product suite, accelerate customer growth, and pursue opportunistic acquisitions.

  • Buyer
    Equifax
    Target
    Health e(fx)
    Industry
    Cloud & SaaS
    Type
    Buyout

    Equifax has acquired Health e(fx), a provider of Affordable Care Act (ACA) management software and workforce analytics, to expand capabilities within its Workforce Solutions business. The acquisition adds Health e(fx)'s cloud-native ACA platform and service capabilities — including offices in Minneapolis, Minnesota and Thunder Bay, Ontario — to Equifax's HR, payroll and benefits offerings.

  • Buyer
    Wellness Coaches
    Target
    Benovate Inc.
    Industry
    Cloud & SaaS
    Type
    Buyout

    Wellness Coaches, a U.S.-based provider of workplace health, safety and wellbeing solutions, has acquired Benovate, a digital employee health and wellness platform. The acquisition adds Benovate’s patented predictive-analytics and machine-learning technology to Wellness Coaches’ Healthy Ways platform to deliver enhanced personalized digital health experiences for employer clients.

  • Buyer
    Long Arc Capital
    Target
    Agile Frameworks, LLC
    Seller
    Braun Intertec Corporation
    Industry
    Cloud & SaaS
    Type
    Buyout

    New York-based growth private equity firm Long Arc Capital acquired a majority stake in Agile Frameworks, a Minneapolis-area provider of cloud-based SaaS for project workflow, data management and analytics serving the AEC industry. Braun Intertec, which founded Agile Frameworks and remains a major shareholder and customer, will continue as a material owner while the investment supports product and market expansion.

  • Buyer
    ImageQuix, PhotoLynx, ASG, Alpine Investors
    Target
    Capturelife
    Industry
    Cloud & SaaS
    Type
    Addon

    ImageQuix and PhotoLynx, both ASG-backed businesses, have acquired Capturelife, a Minneapolis-based digital delivery and engagement SaaS platform serving school, sports, attractions, resorts and event photographers. The acquisition is an add-on to ASG's software portfolio aimed at expanding product capabilities and experience-focused offerings across ImageQuix and PhotoLynx's high-volume photography solutions.

  • November 19, 2020
    Buyer
    AutoQuotes (AQ)
    Target
    Axonom
    Industry
    Cloud & SaaS
    Type
    Addon

    AutoQuotes (AQ), a portfolio company of Luminate Capital Partners, has acquired Axonom, the maker of the Powertrak visual configuration and guided-selling platform. The acquisition adds visual configuration, AR/VR and guided-selling capabilities to AQ's quote-to-cash and CPQ suite to help manufacturers (especially in foodservice equipment) digitally engage channels and end customers and expand AQ's capabilities into adjacent manufacturing verticals.

  • Buyer
    Communications Systems, Inc., JDL Technologies
    Target
    IVDesk
    Seller
    IVDesk
    Industry
    Cloud & SaaS
    Type
    Buyout

    Communications Systems, Inc. (through its JDL Technologies subsidiary) acquired the operating assets of privately held IVDesk in an all-cash asset purchase ($950,000 at closing plus up to $550,000 earn-out tied to customer retention). The acquisition adds IVDesk's Desktop-as-a-Service private cloud offering and recurring DaaS revenue, expanding JDL/CSI's Services & Support capabilities for SMBs with a focus on financial services.

  • Buyer
    CapVest Partners LLP (funds managed by CapVest Partners LLP)
    Target
    Datasite Global Corporation
    Industry
    Cloud & SaaS
    Type
    Buyout

    CapVest Partners funds have agreed to acquire Datasite Global Corporation, a leading SaaS provider for the M&A deal lifecycle. The deal is expected to close in Q4 2020, subject to regulatory approvals and customary closing conditions.

  • September 10, 2020
    Buyer
    ACTO
    Target
    Scrimmage
    Industry
    Cloud & SaaS
    Type
    Buyout

    Toronto-based ACTO acquired Scrimmage, a mobile learning provider for life sciences, following ACTO's $11.5M Series A. The acquisition expands ACTO's life-sciences SaaS capabilities and client portfolio, bringing the combined workforce to over 100 and integrating Scrimmage's team (including CEO Derek Lundsten) into ACTO.

  • Buyer
    Paylocity
    Target
    VidGrid
    Industry
    Cloud & SaaS
    Type
    Buyout

    Paylocity, the Schaumburg, Illinois–based provider of cloud HR and payroll software, has acquired VidGrid, a St. Paul–based interactive video platform provider. The acquisition brings VidGrid's video-enabled learning and two-way video communication capabilities into Paylocity's product suite to expand its learning management and employee communication offerings.

  • Buyer
    Spectrum Equity
    Target
    OurFamilyWizard
    Industry
    Cloud & SaaS

    Spectrum Equity, a growth equity firm, has made a significant investment in OurFamilyWizard, the Minneapolis-based co-parenting application, to accelerate product development and scale the business. As part of the transaction, Nick VanWagner was named CEO and Spectrum principals Ben Spero and Parag Khandelwal will join OFW's board while the company's founding leadership remains in place.

  • Buyer
    Greenridge Investment Partners, RF Investment Partners, GrowthZone management
    Target
    GrowthZone
    Industry
    Cloud & SaaS
    Type
    Buyout

    Austin-based private equity firm Greenridge Investment Partners partnered with GrowthZone management to acquire GrowthZone, a Nisswa, Minnesota–headquartered provider of cloud-based association management software. RF Investment Partners provided debt financing and an equity co-investment to support the transaction; Greenridge plans to help GrowthZone invest in product development and customer support to accelerate growth.

  • Buyer
    Celero Commerce
    Target
    RazorSync
    Industry
    Cloud & SaaS
    Type
    Buyout

    Celero Commerce, a Nashville-based integrated commerce solutions provider, has acquired RazorSync, a Minneapolis-headquartered developer of mobile and desktop SaaS for the field service industry. The deal will combine Celero's payments and commerce capabilities with RazorSync's scheduling, dispatch, route optimization, and invoicing software to deliver an integrated business-management and payments solution for small and mid-sized field-service businesses.

  • Buyer
    MRI Software LLC
    Target
    Rental History Reports, Trusted Employees
    Industry
    Cloud & SaaS
    Type
    Buyout

    MRI Software LLC, a global real estate software provider based in Solon, Ohio, has acquired Rental History Reports and its Trusted Employees business unit, a Minnesota-based provider of cloud-based resident and pre-employment screening platforms. The deal expands MRI's resident screening capabilities and adds a new pre-employment screening offering for corporate employers, integrating RHR/TE's screening technology and APIs into MRI's platform.

Full Export

Purchase this data

Get the full acquisitions list for this page as CSV + XLSX.

Build a buyer list for your Cloud & SaaS deal

Find buyers actively acquiring cloud & saas companies.

Apply as a Buyer

Frequently Asked Questions

Which Cloud & SaaS subsectors appear most often in Minnesota acquisitions?

The list includes eClinical and healthcare platforms, fintech software for secured finance, enterprise marketing analytics, cloud backup/resiliency, learning management, and DevOps/test data management.

Do Minnesota acquisitions focus on acquiring full platforms or specific modules?

Both show up. Some deals expand suites by integrating complementary tools (eClinical, learning, or backup), while others add targeted capabilities like analytics (MMM) or dynamic payments for customer journeys.

Are there any notable buyers that recur across the Minnesota Cloud & SaaS activity?

Recurring buyer names include Cordance, Arcadea Group, ASG, Alpine Investors, SureSwift Capital, Communications Systems, Inc., JDL Technologies, and Long Arc Capital (as shown in the page’s buyer list).

What geographies are referenced in these Minnesota Cloud & SaaS deals?

The page’s deal location framing includes Minnesota, United States for the listed transactions. Some summaries also reference expansion into broader markets (for example, North America) or serving customers internationally (for example, the dealership footprint described for the Impel–Outsell combination).

Related Acquisition Pages