Cloud & SaaS Acquisitions in North Carolina

Next Glass has acquired Ekos, the Charlotte-based supply chain and production management SaaS platform for craft beverage producers. The deal brings Ekos's inventory, production, reporting, compliance, and B2B ordering capabilities into Next Glass's beverage software ecosystem to create an end-to-end platform and will include a two-year price freeze for existing Ekos customers.

Clearspan, a Plano-based provider of cloud unified communications solutions, has acquired AveriStar, a Charlotte-based specialist in cloud-based UC engineering and hosted Cisco/BroadSoft platforms, in a private transaction. The deal expands Clearspan's scale and capabilities in the U.S. service provider, large enterprise and SLED/Federal markets; Q Advisors acted as exclusive financial advisor to AveriStar.

Accel-KKR has closed AKKR Isosceles CV LP, a $1.9 billion single-asset continuation fund to extend its partnership with isolved, providing liquidity to existing investors and committing $350 million of new capital to isolved's growth and acquisitions. Lead investor Goldman Sachs Alternatives' Secondaries team and other institutional participants joined the fund; Accel-KKR employees are now the largest investor group.

Teamworks, the Durham-based operating system for sports, raised $235 million in an oversubscribed Series F led by returning investor Dragoneer Investment Group at a pre-money valuation above $1.0 billion. The primary and secondary financing will fund expansion of Teamworks' AI and data science capabilities and accelerate product development across its talent, performance, coaching and operations suites.

Genstar Capital has backed a combination of PlayMetrics and Stack Sports, making Genstar the majority owner of the combined sports-technology business. As part of the transaction Genstar acquired PlayMetrics from Blue Star Innovation Partners and PSG and will fold it into Stack Sports (headquartered in Dallas) to create a larger SaaS platform for clubs, leagues, tournaments, and governing bodies.

Aiwyn, the Charlotte-based accounting platform backed by KKR and Bessemer Venture Partners, has acquired Taxa (rebranded as Aiwyn Tax) and Digilence to expand tax, integration and automation capabilities within its unified platform. The acquisitions bring leadership from the acquired companies into Aiwyn and strengthen the company's end-to-end offering for accounting firms.

ClearlyRated, a PE-backed customer experience (CX) platform, has acquired Client Savvy, a provider of customer feedback software for AEC and legal firms. Backed by Software Growth Partners, the add-on expands ClearlyRated's CX capabilities and vertical coverage while preserving the Client Savvy brand.

Inn-Flow, a provider of cloud-based back-office management and accounting software for hotels, has secured a $45 million growth investment from Mainsail Partners. The funding will accelerate product innovation, enhance customer experience, and support team expansion to better serve hotel owners and management companies.

DoiT Cloud Intelligence has acquired PerfectScale, a Kubernetes optimization and governance platform, to bolster its FinOps and K8s automation capabilities. PerfectScale will operate as part of DoiT while continuing to be offered as an add-on to DoiT Cloud Intelligence customers.

Quantum Workplace, an Omaha-based employee engagement and performance management platform, has acquired WorkDove, a Durham-based provider of performance management software. The acquisition expands Quantum Workplace's performance and talent management capabilities and brings WorkDove customers onto Quantum Workplace's integrated HR platform.

Element451, an AI-first student engagement and CRM platform headquartered in Raleigh, North Carolina, received a $175 million strategic growth investment from PSG to accelerate AI-driven features and expand adoption across higher education. The funding will support product development and market expansion as Element451 scales its customer base of 250+ institutions.

NUSO, a cloud communications and contact center platform provider, has acquired T-Metrics, a provider of secure, government-compliant contact center solutions. The acquisition expands NUSO's enterprise and public-sector capabilities by integrating T-Metrics' FedRAMP/StateRAMP/JITC-capable solutions and experienced team.

Better Car People has acquired Proactive Dealer Solutions, a Huntersville, North Carolina-based provider of SaaS and BDC consulting for automotive dealerships, from Capitala Group. The acquisition combines BCP's omnichannel lead engagement platform and generative AI capabilities with Proactive's Brooke AI Digital Voice Assistant, BDC technology, and retail performance consulting to create an integrated dealer engagement offering.

Kipu Health has acquired Hatch Compliance, a cloud-based compliance management and consulting provider focused on behavioral health organizations. The deal adds governance, risk and compliance (GRC) capabilities — including a Compliance Management System (CMS) and Learning Management System (LMS) — to Kipu's behavioral health technology platform to better support regulatory requirements for treatment providers.

Blue Star Innovation Partners (BSIP), a growth-focused investment firm founded by Rob and Dan Wechsler, has made a minority growth investment in Ledger Run to accelerate product development and scale the ClinRun platform. The capital and BSIP's operational, software and payments expertise will support faster product releases, expanded capabilities, and continued customer service for Ledger Run's sponsor, CRO and site customers.

Vista Equity Partners has agreed to acquire JAGGAER, a global leader in enterprise procurement and supplier collaboration software, from Cinven. The transaction, terms undisclosed, positions JAGGAER to continue scaling its AI-enabled JAGGAER One SaaS platform under Vista’s software-focused investment platform; completion is expected subject to customary approvals.

Körber Supply Chain Software, a joint venture between Körber AG and KKR, has signed a binding agreement to acquire MercuryGate International, a SaaS-based transportation management system (TMS) provider headquartered in Cary, North Carolina. The deal—where Summit Partners, MercuryGate's 2018 investor, is selling its stake—expands Körber's supply chain execution capabilities by adding MercuryGate's multimodal optimization and execution technology to its portfolio.

Trinity Consultants has acquired OTTO, a service and technology platform for new-construction building analytics and automated functional testing. Trinity will integrate OTTO into its CxAlloy commissioning management software to expand commissioning analytics, automated testing, and continuous fault detection capabilities for its commissioning clients.

Pixid Group, the European SaaS provider of temporary workforce management solutions, has agreed to acquire VectorVMS, a Raleigh-based vendor management system (VMS) provider. The deal, supported by Pixid’s backer Keensight Capital, expands Pixid’s presence in the U.S. and the MSP/mid-market segments and creates a more comprehensive global extended workforce solution.

Google has acquired Cameyo, a virtualization platform that delivers Windows applications through the cloud, to expand ChromeOS's ability to run legacy Windows apps on Chromebooks and other devices. The acquisition is intended to give enterprises and education customers easier access to Windows apps without complex installs, strengthening ChromeOS's appeal in business and schools.

Basis Vectors Capital, a New York-based private equity and technology investor focused on B2B SaaS, has acquired Cadient, a provider of talent acquisition and hourly-hiring SaaS solutions. Terms were not disclosed; Cadient CEO Jon Puckett will remain in place and Basis Vectors plans to support Cadient’s organic growth, partnerships, and product expansion across healthcare, hospitality, and retail verticals.

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.

Thoma Bravo has completed a strategic growth investment in BlueMatrix, a cloud-based content creation and distribution platform for investment research providers. The investment (debt financing provided by Golub Capital) will support BlueMatrix’s global growth and continued product innovation while founder and CEO Patricia Horotan remains in her leadership role with a significant ownership stake.

WEX has signed a definitive agreement to acquire Payzer, a Charlotte-based field service management SaaS and payments platform, for approximately $250 million plus up to $11 million of contingent consideration. The acquisition expands WEX's product suite and cross-sell opportunities into the field service contractor market (HVAC, plumbing, roofing) and is expected to close by the end of 2023.

Blue Star Innovation Partners, a growth-focused investment firm backed by Jerry Jones, has taken a significant ownership position in PlayMetrics, a Morrisville, North Carolina-based provider of operations management software for youth sports organizations. The capital and BSIP's software and payments expertise will accelerate product development, improve customer service, and support expansion into additional youth sports end markets like leagues, tournaments, and governing bodies.

DAS Technology has acquired the assets of 3 Birds Marketing, a Chapel Hill-based Customer Data & Experience Platform (CDXP) provider. The transaction brings 3 Birds' SaaS-based marketing, analytics, and customer engagement capabilities into the DAS product suite, expands DAS' network to over 9,200 retailers and OEM partners, and adds 3 Birds leadership to the DAS executive team.

Johnson Controls has acquired FM:Systems, a Raleigh-based provider of cloud-based digital workplace management and IoT solutions, for a base purchase price of $455 million plus potential earnouts. The deal adds SaaS workplace management capabilities to Johnson Controls' OpenBlue portfolio, expanding its digital buildings offerings and is expected to be accretive to margins and revenue growth.

RealTime Software Solutions, a San Antonio-based portfolio company of LLR Partners, has acquired Devana Solutions, a Chapel Hill-based cloud SaaS provider of clinical trial workflow and analytics (PROPEL). The add-on expands RealTime's Site Operations Management System (SOMS) capabilities by integrating Devana's study startup, pipeline administration and analytics tools to create a more comprehensive end-to-end site platform for sponsors, CROs and site networks.

StarCompliance, a Marlin Equity Partners portfolio company, has acquired ETHIX360 and will merge ETHIX360's compliance products into StarCompliance's employee compliance platform. The deal expands StarCompliance's SaaS capabilities in case management, policy management, training and whistleblowing, enabling cross-sell into Star's financial-services footprint and ETHIX360's multi-vertical client base.

STOPit Solutions, a provider of safety and wellness software for schools, communities, and workplaces, has acquired PunchAlert, an all-in-one emergency communication and mass-notification platform. The acquisition integrates PunchAlert’s mobile- and browser-based mass-notification technology into STOPit’s 911-Direct Panic Alert System and brings PunchAlert CEO Greg Artzt into STOPit as Chief Product Officer to lead product integration and development.

Investcorp Technology Partners agreed to acquire a majority stake in Zift Solutions, a provider of Partner Relationship Management (PRM) and Through-Channel Marketing Automation (TCMA) software, in a transaction valuing over $70 million. The investment will fund Zift’s go-to-market acceleration and international expansion; existing investors Arrowroot, Oxx, SMM and AshGrove Capital will remain involved.

Durham-based enterprise SaaS provider Teamworks announced the acquisitions of four sports-technology companies — Smartabase, Retain, Grafted and NextPlay — to expand its Operating System for Sports and launch an integrated collegiate compliance solution. The deals add human performance, athlete development, anonymous reporting/survey, and alumni engagement capabilities to Teamworks’ platform, accelerating product breadth across the athlete lifecycle.

Arcadea Group completed a $20 million strategic growth equity investment in AvSight, a Boone, North Carolina–based cloud-native ERP provider for the aviation MRO, parts, and leasing markets. The founders and key leadership retain significant equity, Anacostia Ventures realized part of its investment, and proceeds will accelerate AvSight's product roadmap and expand services, delivery, and customer support; CriticalPoint served as AvSight's financial advisor.

Gallant Capital Partners completed a strategic growth investment in Lightning Step Technologies, a Charlotte-based provider of all-in-one enterprise software for the behavioral health industry. The capital will be used to expand Lightning Step's team, accelerate its product roadmap, and support strategic acquisitions while existing management (including CEO Kirk Monroe and Chairman Jamison Monroe) remain material owners.

BILL (Bill.com) has acquired Finmark, a provider of financial planning and analysis and cash‑flow forecasting software for small and midsize businesses. The acquisition adds FP&A, planning and cash‑flow analytics capabilities to BILL’s financial operations platform to help SMBs and accounting firms gain deeper, real‑time insight into cash flow and forecasting.

Sign In Solutions, a PSG-backed provider of cloud-based visitor management and risk mitigation software, has acquired ThreatSwitch, a security compliance workspace provider. The acquisition will integrate ThreatSwitch's compliance and security capabilities into Sign In Solutions' Visitor Management 2.0 (VM 2.0) vision to expand product capability and reduce customer risk across enterprise and defense-related markets.

Events.com has acquired HelpGetSponsors.com (HGS), a SaaS sponsorship sales and management platform, to integrate automated sponsorship matching and management into its event management suite. Tom Crichton, founder of HGS, will continue to support Events.com in an advisory role as the company expands its sponsorship-driven revenue tools for event organizers.

Charlesbank Technology Opportunities Fund, managed by Charlesbank Capital Partners, made a majority investment in ImageQuix, a Raleigh-based provider of workflow and e-commerce software for the high-volume photography industry. ASG (the prior sponsor) will exit or reduce its stake while ImageQuix CEO Alex Kovacevic and management remain shareholders; the capital will be used to accelerate organic growth and pursue M&A.

SmartCommerce, a data-centric SaaS provider for CPG brands, has acquired Myxx, a recipe-centric eCommerce platform, to deepen consumer product discovery capabilities within its Click2Cart portfolio. Myxx CEO Dede Houston will join SmartCommerce as the companies integrate Myxx's recipe-driven commerce and audience analytics to accelerate purchase velocity for CPG brands and retailers.

The Riverside Company has invested in FoodLogiQ, LLC as an add-on to its ESHA Research platform. The deal brings FoodLogiQ's supply-chain and traceability SaaS capabilities together with ESHA's nutrition analysis and labeling software to expand the combined platform's food-safety, traceability and regulatory-compliance offerings.

JMI Equity made a minority growth equity investment in Vantaca to accelerate product development, hire talent, and support the company’s continued expansion in the community management market. Vantaca’s founders and management retain majority ownership while JMI will be a minority shareholder and strategic partner focused on supporting the company’s innovation and growth plans.

CommerceHub agreed to acquire ChannelAdvisor Corporation for $23.10 per share in an all-cash transaction led by Insight Partners and supported by participating investors. The deal, which values ChannelAdvisor at a premium and will take the company private, combines CommerceHub's commerce network with ChannelAdvisor's multichannel ecommerce SaaS capabilities to expand marketplace, dropship, delivery and retail media offerings.

EMS Management & Consultants, Inc. (EMS|MC) has acquired VAIRKKO, a Raleigh-based provider of cloud-based workforce and operations management software for EMS agencies. The deal adds scheduling, training, certification and performance-management capabilities to EMS|MC's revenue cycle and technology offerings and is intended to accelerate VAIRKKO's product innovation and support for EMS clients.

Siemens AG, via its Smart Infrastructure division, agreed to acquire Brightly Software, a U.S.-based cloud-native enterprise asset management SaaS provider, from Clearlake Capital for $1.575 billion in upfront cash plus up to $300 million in earn-outs. The acquisition strengthens Siemens' digital building and infrastructure software capabilities and expands its SaaS footprint, while Brightly will benefit from Siemens' global scale.

Troon, the global leader in golf and club hospitality management, has acquired ClubUp, a golf technology company that powers caddie programs at 65 clubs and resorts. Troon will invest in and expand ClubUp’s platform while the existing ClubUp team and other stakeholders remain with the business and have taken an equity stake in Troon.

Arryved, a Boulder-based cloud POS provider for independent food and beverage operators, has acquired Craftpeak, an Asheville-based web design and ecommerce specialist for the craft beverage industry. The deal integrates Craftpeak’s ecommerce and website capabilities with Arryved’s POS to create a unified omni-channel platform that syncs on‑premise and online inventory and customer experiences.

Lunchbox, a restaurant technology platform, has entered into a definitive agreement to acquire NovaDine, an enterprise digital ordering provider for multi-unit restaurant chains. The deal will combine NovaDine's POS-integrated online and mobile ordering, catering and delivery capabilities with Lunchbox's broader ordering, loyalty and marketing suite to expand Lunchbox's enterprise offerings and accelerate geographic growth.

Similarweb has acquired Rank Ranger, a provider of SEO and search rank-tracking tools, to expand its enterprise SEO and keyword analytics capabilities. The deal integrates Rank Ranger's rank-tracking and reporting features into Similarweb's digital intelligence platform to offer customers a combined view of ranking performance and traffic-driven insights.

Capitala Group has completed a majority investment in Proactive Dealer Solutions, a Veteran-owned provider of integrated SaaS and consulting services for automotive, RV, marine and powersports dealerships. The investment will provide growth capital to support Proactive's next phase of development; terms were not disclosed.

CliniSys has acquired HORIZON Lab Systems and combined the business with Sunquest Information Systems to create a larger diagnostics and laboratory informatics group. HORIZON brings cloud-based LIMS/LIS capabilities for environmental, water-quality, public health, toxicology and agriculture labs; the combined organization totals more than 1,300 employees across multiple countries and will pursue cloud transformation, analytics and AI to improve diagnostic and public-health outcomes.