Cloud & SaaS Acquisitions in Minnesota

Thoma Bravo has completed its acquisition of Dayforce, Inc., a global AI-powered human capital management (HCM) platform, for approximately $12.3 billion. Dayforce stockholders will receive $70.00 per share in cash as the company becomes a private portfolio company to accelerate growth and AI-led product development.

Francisco Partners completed a take-private acquisition of Jamf for $13.05 per share in cash, valuing the Apple device management and security company at an enterprise value of approximately $2.2 billion. The deal, approved by Jamf stockholders, will delist Jamf from NASDAQ and positions the company to accelerate its product roadmap and expand its offerings under private ownership.

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.

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.

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.

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.

VertexOne has completed the acquisition of Accelerated Innovations LLC, adding the MyMeter customer self-service and engagement SaaS platform to its Digital Suite. The deal expands VertexOne's analytics and customer-experience capabilities for electric, gas and water utilities, and Accelerated Innovations founder Josh Headlee joins VertexOne as Chief Architect.

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.

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.

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.

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.

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.

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).

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

LifeSpeak Inc. (TSX: LSPK) has completed its acquisition of Minnesota-based Wellbeats Inc., a market-leading on-demand physical wellbeing SaaS platform. The deal broadens LifeSpeak’s mental-health-focused offering into physical wellbeing, adds 400+ enterprise clients, strengthens its U.S. presence and is expected to contribute to a pro forma ARR of approximately $54.4 million.

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.

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.

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.

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.

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.

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.

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.

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.

Funds managed by CapVest Partners LLP have agreed to acquire Datasite Global Corporation, a Minneapolis-headquartered SaaS provider serving the global M&A community. CapVest plans to support Datasite's next phase of growth and product expansion across its deal lifecycle platform including Datasite Diligence, Prepare, Outreach and Acquire.

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.

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.

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.

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.

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.

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.